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To fulfill the needs of different types of customers, IndusInd Bank offers a variety of savings accounts. Customers have access to services such as net banking, phone banking, and IVR help, among others. Customers can create a savings account with IndusInd Bank by checking their eligibility and applying online for IndusInd Bank Account Opening or in person at any of the bank’s branches.
- Interest rate on daily balances of more than Rs.10 lakh but less than Rs.1 crore: 5% p.a.
- Interest rate on daily balances exceeding Rs.1 crore: 6% p.a.
- Rate of interest for Daily Balances up to Rs.10 lakh: 4% p.a.
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Interest Rates on Savings Accounts at IndusInd Bank
The following are the interest rates available with an IndusInd Bank Savings Account:
- 4% p.a. for daily balances up to Rs 1 lakh.
- 5% p.a. for daily balances of more than Rs 1 lakh but less than Rs 10 lakhs.
- 6% p.a. for daily balances over Rs 10 lakhs.
IndusInd Bank Savings Account Types
The following are the many types of savings account programs offered by IndusInd Bank:
- Indus Exclusive Savings Account – It comes with a variety of lifestyle perks and privileges, as well as a rewards programme that lets you to collect reward points for every transaction you make.
- Indus Select Savings Account — This is a high-end savings account with features such as Air Accident Insurance, Fire and Theft Insurance, and other perks.
- Indus Young Saver – This is a great savings account for minors because it has no minimum balance restriction and can be started with just Rs 11 as a deposit.
- Indus Maxima Savings Account — It comes with perks including unrestricted withdrawals at other banks’ ATMs, free debit cards for add-on accounts, and free NEFT and RTGS transfers etc.
- Indus Privilege Savings Account — It’s a savings account that may be opened by minors and comes with perks such free Internet and Mobile Banking, areduced minimum balance requirement, and year-round banking (at select branches).
- Indus Diva Savings Account – It is the best savings account for today’s women, with features specifically developed to fulfil their banking needs.
- Indus Senior Savings Account –The Indus Senior Savings Account is a savings account that provides the aged, or senior citizens, with a more comfortable and convenient banking experience.
- Indus Classic Savings Account– Customers may manage their savings between their Savings Accounts and Fixed Deposits without the burden of maintaining a minimum balance with the Indus Classic Savings Account.
- Indus Easy Savings Account– This is a basic savings and deposit account that has no minimum balance requirement and offers a variety of features.
- Indus Small Account – This is a savings account with no minimum balance requirement and other features that provide consumers with a hassle-free banking experience.
Minimum Balance on IndusInd Bank Account Opening
The following IndusInd Bank savings accounts have a minimum balance requirement:
- Indus Maxima Savings Account and Indus Diva Savings Account: The average quarterly balance requirement for the Indus Maxima Savings Account and the Indus Diva Savings Account is Rs 25,000. If your balance is less than Rs 12,500, you’ll be charged Rs 900, Rs 600 if your balance is more than Rs 12,500 but less than Rs 18,750, and Rs 300 if your balance is more than Rs 18,750 but less than Rs 25,000.
- Indus Senior Savings Account – A minimum monthly balance of Rs 10,000 or a Fixed Deposit of Rs 2,50,000 is required. If the balance is over Rs 5,000 but below Rs 10,000, there is a penalty of Rs 250, and if the balance is below Rs 5,000, there is a penalty of Rs 350.
- Indus Classic Savings Account – A minimum balance of Rs 10,000 (or FD of Rs 50,000) is required in A category branch, Rs 10,000 in B category branches (or FD of Rs 35,000), Rs 2,500 in C branches (or FD of Rs 25,000), and Rs 1,500 in C1 category branches (or FD of Rs 25,000). The penalty for failing to maintain a balance ranges from Rs 250 to Rs 350, depending on the account’s available balance.
- Indus Privilege Savings Account – In A and B category branches, a minimum amount of Rs 10,000 is required, whereas in C and C1 category branches, a minimum balance of Rs 5,000 is required. The penalty for failing to maintain a balance ranges from Rs 250 to Rs 350, depending on the account’s available balance.
FAQ’s on IndusInd Bank Account Opening
Yes, the Indus Diva savings account is designed specifically for women’s financial needs. It includes benefits such as a 25% discount on ordinary locker fees for the first year, free add-on accounts, and door-to-door banking.
For your child, you can start an Indus Young Saver account. You can use the account as a guardian if your child is under the age of 12. The account can be started in your child’s name if he or she is over the age of 12.
Yes, if you are an NRI who has been in India for more than 180 days and have a valid passport, visa, and proof of residency in India, you can create a savings account with IndusInd Bank.
https://www.indusind.com/in/ is the official website for IndusInd Bank?