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Home / Glossary / FD Interest Rates / IndusInd Bank FD Interest Rates

Introduction

Fixed Deposits (FDs) are your trusted companions on the path to financial stability. Offering guaranteed returns with minimal risk, they’re a popular choice for savvy investors. IndusInd Bank FD Interest Rates brings you a world of FD options designed to suit your unique financial goals.

IndusInd Bank offers a spectrum of FD schemes with interest rates tailored to your needs. Whether you’re aiming for short-term gains or long-term wealth, we’ve got you covered. Let’s dive into the details of what IndusInd Bank FDs can do for you.

IndusInd Bank Fixed Deposit Interest Rate Today

Curious about the current interest rates? Let’s break it down:

TenureInterest Rate (per annum)
7 days to 14 days3.50%
15 days to 30 days3.50%
31 days to 45 days4.00%
46 days to 60 days4.50%
61 days to 90 days4.75%
91 days to 120 days5.00%
121 days to 180 days5.50%
181 days to 210 days5.75%
211 days to 269 days 6.00%
270 days to 364 days (below 1 year)6.25%
1 year to less than 2 years7.25%
2 years to less than 3 years7.50%
3 years to less than 5 years7.25%
Above 5 years 7.00%

Benefits of IndusInd Bank Fixed Deposits

1. Dynamic Interest Rate Deposit

IndusInd Bank offers a unique feature where you can link your FD interest rate to external benchmarks like the repo rate. This allows your FD returns to potentially increase with rising market rates, providing higher earnings than traditional fixed rates.

2. Smart Redemption FD

IndusInd Bank’s ‘Smart Redemption FD’ allows automatic partial redemption of the FD if your linked savings account falls below a certain threshold. This ensures you have liquidity without breaking the entire FD, making it an ideal choice for those needing occasional access to funds.

3. FD Xtra Savings Account

The ‘FD Xtra’ scheme links your FD with a savings account, offering the liquidity of a savings account with the higher interest rates of an FD. You earn the FD interest rate on your savings balance when it crosses a predefined amount, maximizing returns without locking in all your funds.

4. Indus Tax Saver FD

The ‘Indus Tax Saver FD’ allows you to claim tax deductions under Section 80C while also providing higher interest rates for long-term deposits. This scheme is particularly beneficial for investors looking to reduce taxable income while growing their savings securely.

5. FD Reinvestment Plan

IndusInd Bank offers an FD reinvestment plan where interest is compounded quarterly and added back to the principal amount, enhancing your overall returns. This is ideal for those aiming to build wealth over time with the power of compounding.

You may also want to know Punjab National Bank FD Interest Rates

How to Open an IndusInd Bank FD?

1. Eligibility and Customer Onboarding

Paperless Onboarding: New customers can open an FD online using IndusInd Bank’s e-KYC process, which includes Aadhaar-based verification and digital signatures, making the process entirely paperless and hassle-free.

Existing Customer Benefits: Existing account holders can leverage the ‘Quick FD’ feature on the IndusMobile app, which allows FDs to be opened with just a few taps, using predefined templates for amounts and tenures.

2. Selecting the FD Type

Customizable Tenures and Plans: IndusInd Bank offers various FD types, including short-term, long-term, tax-saving, and dynamic interest rate FDs. Customers can customize their FD based on tenure, interest payout frequency (monthly, quarterly, annually), and reinvestment options.

3. Funding the FD

Multiple Funding Options: You can fund your FD through various methods, including online transfers, NEFT/RTGS, or directly from an IndusInd savings account. The bank also supports funding through UPI for quick and seamless transactions.

4. Application Process

Online:

Login: Access the IndusNet Internet Banking or IndusMobile app.

Navigate to FD Section: Select the ‘Open Fixed Deposit’ option.

Choose FD Type: Pick the FD scheme that best fits your financial goals.

Fund the FD: Select the account from which to fund the FD and enter the desired amount.

Confirm and Submit: Review the details and submit your application. A digital FD receipt will be sent to your registered email.

Offline:

Visit a Branch: Go to the nearest IndusInd Bank branch.

Fill Out the Form: Complete the FD application form, providing your chosen FD type, tenure, and amount.

Submit Documents: Provide KYC documents (if required) along with the form.

Deposit the Amount: You can deposit via cash, cheque, or bank transfer.

Receive FD Certificate: A physical FD receipt or certificate will be issued once the deposit is processed.

5. Track and Manage

Smart FD Management: IndusInd Bank’s mobile app offers a unique ‘FD Tracker’ feature that not only tracks your FD’s maturity but also suggests optimal renewal strategies based on current market trends.

You may also want to know Post Office FD Interest Rates

Factors to Consider Before Investing in an FD

1. Interest Rate Volatility

Consider Fixed vs. Floating Rates: While fixed rates offer stability, floating rates could provide higher returns in a rising interest rate environment. Assess the market conditions to choose the right type of FD.

2. Premature Withdrawal Penalties

Understand Penalties: Many banks impose a penalty for premature withdrawal of FDs, which can reduce your returns. IndusInd Bank offers ‘Penalty-Free’ FDs for specific tenures, which you might want to consider if you anticipate needing access to your funds.

3. Reinvestment Options

Compounding Benefits: FDs that reinvest interest can significantly boost your returns through compounding. Consider whether you want to receive regular interest payouts or let your investment grow by reinvesting.

4. Tax Implications

TDS on Interest: Interest earned on FDs is subject to Tax Deducted at Source (TDS). Ensure that you’re aware of the tax implications based on your tax bracket and consider tax-saving FDs if you want to reduce taxable income.

5. Bank’s Credit Rating

Evaluate Bank Stability: Before investing, check the bank’s credit rating to assess its financial stability. A higher rating indicates a lower risk of default, ensuring your investment’s safety.

6. Liquidity Needs

Plan for Emergencies: If you might need quick access to funds, choose FDs with a partial withdrawal option or consider linking your FD to a savings account for easier liquidity.

7. Inflation Impact

Real Rate of Return: Consider the impact of inflation on your FD returns. While FDs provide a secure return, high inflation can erode the real value of your returns, so compare the FD interest rate with the inflation rate to assess the actual growth of your investment.

IndusInd Bank Senior Citizen FD Interest Rates

IndusInd Bank offers special interest rates for senior citizens (aged 60 years and above) on fixed deposits. Senior citizens typically receive an additional 0.50% interest rate over and above the regular rates. This makes FDs an attractive investment option for retirees seeking stable and enhanced returns. 

Here are the current FD interest rates for senior citizens:

TenureInterest Rate (per annum)
7 days to 14 days4.00%
15 days to 30 days4.00%
31 days to 45 days4.50%
46 days to 60 days5.00%
61 days to 90 days5.25%
91 days to 120 days5.50%
121 days to 180 days6.00%
181 days to 210 days6.25%
211 days to 269 days 6.75%
270 days to 364 days (below 1 year)6.75%
1 year to less than 2 years7.75%
2 years to less than 3 years8.00%
3 years to less than 5 years7.75%
Above 5 years 7.50%

Induslnd Bank NRE FD Interest Rates

IndusInd Bank also offers Fixed Deposit schemes for Non-Resident Indians (NRIs). The Non-Resident External (NRE) FD accounts provide attractive interest rates and are fully repatriable, making them an excellent investment option for NRIs. 

Here are the current NRE FD interest rates:

  • 1 year to less than 2 years: 7.25% per annum
  • 2 years to less than 3 years: 7.50% per annum
  • 3 years to less than 5 years: 7.25% per annum
  • 5 years and above: 7.00% per annum

IndusInd Bank Tax Saver FD Interest Rate

IndusInd Bank offers a Tax Saver FD scheme that allows individuals to save on taxes under Section 80C of the Income Tax Act. The scheme comes with a lock-in period of 5 years, during which the deposit cannot be withdrawn. Here are the interest rates for the IndusInd Bank Tax Saver FD:

  • 5 years: 7.00% per annum (Regular)
  • 5 years: 7.50% per annum (Senior Citizen)

How to Use the IndusInd Bank FD Interest Rate Calculator?

IndusInd Bank provides an FD interest rates calculator on its official website. This tool helps you calculate the maturity amount and interest earned on your Fixed Deposit. Here’s how to use it:

  1. Visit the IndusInd Bank Website: Go to the official IndusInd Bank website and navigate to the ‘Fixed Deposits’ section.
  2. Access the FD Calculator: Click on the FD interest rates calculator link.
  3. Enter Details: Input the principal amount, tenure, and type of FD (regular or senior citizen).
  4. Calculate: Click on the ‘Calculate’ button to see the maturity amount and interest earned.

Conclusion

IndusInd Bank’s Fixed Deposits are a reliable and secure investment option offering attractive interest rates and various benefits tailored to meet the needs of different customer segments. Whether you are a regular investor, a senior citizen, an NRI, or looking to save on taxes, IndusInd Bank has an FD scheme that suits your requirements.

If you consider the current Indusind Bank Fixed Deposit interest rates and other factors, you can plan your financial goals that come with guaranteed returns on your investment.

Frequently Asked Questions

What factors influence the IndusInd Bank FD interest rate?

Deposit amount, tenure, and customer type (general or senior citizen) primarily determine interest rates of a fixed deposit account in IndusInd Bank.

Do senior citizens get higher interest rates on IndusInd Bank FDs?

Yes, IndusInd Bank usually offers higher interest rates to senior citizens on their fixed deposits.

Can I break my IndusInd Bank FD before maturity?

Premature withdrawal is possible, but penalties apply. Interest earned might be lower than expected.

What are the interest payout options for IndusInd Bank FDs?

You can choose from monthly, quarterly, annual, or maturity payout options.

Where can I find the latest IndusInd Bank FD rates?

Visit the IndusInd Bank website or your nearest branch for the most accurate and up-to-date information.

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