Indusind Bank Fixed Deposit Interest Rates (as on 17 Oct 2018)

Indusind Bank FD Interest Rate (below Rs. 1 Crore) w.e.f. 06.08.2018

TenorsInterest Rate p.a.(%)
(General)
Interest Rate p.a.(%)
(Senior Citizen)
7 days to 14 days3.504.00
15 days to 30 days4.004.50
31 days to 45 days5.505.50
46 days to 60 days5.756.00
61 days to 90 days6.006.50
91 days to 120 days6.256.75
121 days to 180 days6.507.00
181 days to 210 days6.757.25
211 days to 269 days6.757.25
270 days or below 1 years7.007.50
1 Years to below 1 Years 2 Months7.658.15
1 Years 2 Months to below 2 Years7.407.90
2 years to below 2 years 6 Months7.257.75
2 years 6 Months to below 2 years 9 Months7.257.75
2 years 9 Months to below 3 years7.257.75
3 years to below 61 month7.007.50
61 month and above6.757.25

Indus Tax Saver Scheme (5 years) w.e.f. 06.08.2018

TenorsInterest Rate p.a.(%)
(General)
Interest Rate p.a.(%)
(Senior Citizen)
5 years & above7.007.50

Indusind Bank FD Interest Rate - Withdrawable (from Rs. 1 Crore to below Rs.5 Crore) w.e.f. 06.08.2018

TenorsInterest Rate p.a.(%)
(General)
Interest Rate p.a.(%)
(Senior Citizen)
7 days to 14 days4.254.25
15 days to 30 days4.504.50
31 days to 45 days6.256.25
46 days to 60 days6.256.25
61 days to 90 days6.256.25
91 days to 120 days6.506.50
121 days to 180 days6.756.75
181 days to 210 days7.007.00
211 days to 269 days7.007.00
270 days or below 1 years7.007.00
1 Years to below 1 Years 2 Months7.507.50
1 Years 2 Months to below 2 Years7.407.40
2 years to below 2 years 6 Months7.157.15
2 years 6 Months to below 2 years 9 Months7.157.15
2 years 9 Months to below 3 years7.157.15
3 years to below 61 month7.007.00
61 month and above6.756.75

Indusind Bank FD Interest Rate - Non-Withdrawable (from Rs. 1 Crore to below Rs.5 Crore) w.e.f. 06.08.2018 (only for non-individuals)

TenorsInterest Rate p.a.(%)
(General)
Interest Rate p.a.(%)
(Senior Citizen)
7 days to 14 days4.254.25
15 days to 30 days4.504.50
31 days to 45 days6.256.25
46 days to 60 days6.356.35
61 days to 90 days6.356.35
91 days to 120 days6.756.75
121 days to 180 days7.007.00
181 days to 210 days7.107.10
211 days to 269 days7.107.10
270 days or below 1 years7.107.10
1 Years to below 1 Years 2 Months7.657.65
1 Years 2 Months to below 2 Years7.507.50
2 years to below 2 years 6 Months7.257.25
2 years 6 Months to below 2 years 9 Months7.257.25
2 years 9 Months to below 3 years7.257.25
3 years to below 61 month7.107.10
61 month and above6.756.75

IndusInd Bank Fixed Deposit

IndusInd Bank has a range of Fixed Deposits (FDs) products at competitive interest rates with various tenures and lots of other benefits. IndusInd Bank offers Fixed Deposit schemes for a short term period and long term period.

It is very easy to open a IndusInd Bank FD either online through its website or by visiting its nearby branch.

Features & Benefits: IndusInd Bank Fixed Deposit

  • Competitive interest rates are offered with flexible FD tenures to suit your investment plan.
  • FD account can be opened online or by visiting your nearest IndusInd Bank branch.
  • Minimum Amount of FD: Rs 10,000
  • Maximum Amount of FD: No limit
  • FD Tenures: 7 days to 10 years
  • Different interest payout options such as monthly, quarterly, etc.
  • Loan/ Overdraft against FD facility is available upto 85% of the FD amount.
  • Easy and fast liquidity options are available.
  • Nomination facility is available.
  • Tax benefit of amount up to Rs 1,50,000 , through tax saving term deposit scheme
  • Part withdrawal facility and auto-renewal facilities
  • Senior citizens can enjoy higher interest rate as compared to regular citizens.
  • NRE, NRO and FCNR deposit facility is available.

IndusInd Bank Bank FD Calculator

 

Eligibility for IndusInd Bank Fixed Deposit

Any individual, Minor, HUF, proprietary/ partnership firm, LLP, company, AOP, body of individuals (BOI), local authority, trust, NRI and registered society can invest in fixed deposits (FD).

Documents Required for IndusInd Bank Fixed Deposit

Following Documents are required for opening a Fixed Deposit Account

CategoryDocuments Required
Individual, HUF, Proprietor
  • PAN and KYC documents
  • Passport size photograph
  • Deed of declaration of HUF
Partnership Firm
  • PAN and KYC documents
  • Partnership Deed
  • Letter from partners to open and operate the account
  • Passport size photographs of all partners
Trust
  • PAN and KYC documents
  • Copy of the Trust Deed
  • Copy of the Registration Certificate
  • Copy of the Resolution of the Trustees
  • Authorizing the members concerned to open and operate the account
  • Photographs of the members operating the account
Associations, Clubs
  • PAN and KYC documents
  • By-Laws of the Association
  • Board Resolution to open and operate the account
  • Passport size photographs
Company
  • PAN and KYC documents
  • Certificate of Incorporation
  • Memorandum and Articles of Association
  • Board Resolution to open and operate the account
  • ID proofs of authorised signatories
  • Passport size photographs of directors

Types of IndusInd Bank Fixed Deposits

  1. IndusInd Bank Sweep In/Out Deposit: This scheme offers automatic transfer of amount to term deposit for a specific period. In case of insufficient balance in the current/ savings account, required amount will be transferred by breaking deposits. Deposit Tenor is from 30 days to 24 months. FD is liquidated in the basis of last in first out (LIFO) to absorb minimum loss of interest. Regular term deposit interest rate is offered in it.

  2. IndusInd Bank Recurring Deposit Schemes: This scheme encourages your regular savings, where in you can invest a fixed amount every month for a fixed period. Fixed monthly instalments are being remitted to Recurring Deposit by a Standing Order, ECS mandate or by regular direct remittance. Minimum RD amount is Rs 500 p.m. & then in multiples of 100 thereof. Tenure of RD is from 12 months to 120 months.

  3. IndusInd Bank Fixed Deposit Schemes: This is a regular FD scheme available for various tenures. Interest is payable monthly, quarterly, half yearly, annually or at maturity as per your convenience. Senior citizens can enjoy an additional rate of interest which is 0.50% higher than regular rate.

  4. IndusInd Bank Tax Saver Deposit: Exemption under section 80 C of Income Tax Act can be claimed by the depositor in case of single depositor or the first holder in case of joint depositors, within eligible investments. FD amount is minimum of Rs.500 and maximum limited to Rs.1,50,000 in a financial year. Deposit will be accepted for a minimum period of 5 years and maximum period of 10 years. It cannot be encashed before the expiry of 5 years from the date of its receipt.

  5. IndusInd Bank Senior Citizen Scheme: It is a scheme wherein a special interest rate is offered to senior citizen those who have completed 60 years of age. In case of joint deposits, the first name should be of the Senior citizen. Deposits under senior citizen should not be used as security for commercial purposes. Min. FD is of Rs. 10,000. FD tenure is frm 7 days to 120 months. The scheme provides 0.50% additional interest rate than the actual rate for the general public.

  6. IndusInd Bank Young Saver Deposit: This scheme inculcates savings habit among children with high return on their savings by linking their Savings Bank Account with Flexi Recurring Deposit which is opened and operated by the guardian for the minor. Balance in Savings Bank account will be transferred to a Flexi Recurring Deposit on the last day of every month, leaving Rs.100/- in the account. Opening balance required for the scheme is mere Rs 11. Tenure range is from 6 months to 120 months.

  7. Indus Deposit Plus: In this scheme, higher Return is generated through investment in market linked instruments. The principal amount is invested into a fixed deposit and the interest earned from it is invested in a Mutual Fund through Systematic Investment Plan (SIP), thereby ensuring capital protection. It offers multiple SIP schemes to choose from. Pre-mature encashment of Term Deposit is permitted under this scheme.

  8. IndusInd Bank Value Added Recurring Deposit: In this scheme individuals make small savings on monthly basis to avail a vacation package to specific domestic/ international destinations. It is also called Holiday Saving Plan. The value of monthly installment of RD is determined basis the cost of the package. At the end of the RD period, the maturity amount will be paid to 'Thomas Cook' for execution of the holiday package.

Calculation of Interest on Term Deposits of IndusInd Bank

  1. On a Quarterly basis for deposits >= 6 months
  2. Simple interest is paid at maturity for deposits < 6 months.
  3. Cumulative Interest/ re-investment interest is calculated every quarter, and is added to the Principal such that Interest is paid on the Interest earned in the previous quarter as well.
  4. In case of monthly deposit scheme, the interest shall be calculated for the quarter and paid monthly at discounted rate over the Standard FD Rate

Premature Closure of IndusInd Bank Fixed Deposit

Customers who want premature closure of their FD will have to pay the premature penalty of 1% less than the actual rate for the tenure the FD was held in the bank.

NRI Fixed Deposit accounts offered by IndusInd Bank

IndusInd Bank offers many fixed deposit schemes specially designed for its NRI customers. In these schemes, NRI customers can deposit money either in Indian currency or in foreign currency depending on their status and preference. The bank also offers different interest rates for NRI fixed deposits. Following types of NRI fixed deposits are offered by IndusInd Bank:

NRI Account TypeDetails
NRE Account (Non Resident External Account) Account is maintained in Indian currency
NRO Account (Non Resident Ordinary Account)This either be funded by conventional payment or through traveller's cheques
FCNR Account (Foreign Currency Non Resident Account)It is maintained in foreign currency
RFC Account (Resident Foreign Currency Account)In this, customer to maintain the account in foreign currency even after returning to India permanently

How and when to apply for exemption on TDS?

  • If your total taxable income during the financial year is not likely to exceed the maximum amount which is not chargeable to income tax, then you can submit self declaration in Form 15G or 15H (for senior citizens only) to the bank to ensure non deduction of tax at source.
  • The declaration has to be given in prescribed format only wherein the valid 10 digit PAN is also required.
  • It may be noted that if the interest payable by the bank during the financial year on time deposits is likely to exceed the maximum amount which is not chargeable to income tax, then the Form 15G submitted will be treated as invalid.
  • In case of Senior Citizens, if the interest payable by the bank during the financial year on time deposits is likely to exceed the maximum amount which is not chargeable to tax and deduction(s) under chapter VIA, if any, for which declarant is eligible, then the Form 15H submitted will be treated as invalid.

You may refer to following table for more details:

CategoryName of FormExemption limit (Male)Exemption limit (Female)
Individuals(upto age of 60)Form 15GRs.2,50,000Rs.2,50,000
HUFs, Associations, TrustsForm 15GRs.2,50,000Rs.2,50,000
Individual (age 60 years and above but less than 80 years)Form 15HRs.3,00,000Rs.3,00,000
Individual (age 80 years and above)Form 15HRs.5,00,000Rs.5,00,000
OthersExemption certificate issued by Income Tax OfficerAs per Exemption CertificateAs per Exemption Certificate

Why providing PAN a must?

If you do not submit your PAN at the time of opening of an FD then following things happen:

  • Tax Deducted at Source (TDS) certificate will not be issued
  • Tax will be deducted (TDS) at higher percentage which is of 20 will be deducted, instead of the usual 10%

IndusInd Bank Fixed Deposit FAQ

  1. What interest payment options are available under Term Deposit with IndusInd Bank?

    Interest payment on Monthly (discounted), Quarterly and Annual rest is available under IndusInd Bank Term Deposit.

  2. What is the minimum and maximum amount of FD in IndusInd Bank?

    The minimum amount is Rs.10,000 and there is no cap on maximum FD amount.

  3. What is the minimum and maximum tenor for which Term Deposit can be kept with IndusInd Bank?

    The minimum and maximum tenor for general/ Senior citizen is 7 days and 120 months respectively.

  4. Does IndusInd Bank offer any special interest rate for Senior Citizen on its Term Deposits?

    Yes, an additional interest rate for Senior Citizen ranges from 0.50% for deposits less than Rs. 1 crore.

  5. When is TDS deducted?

    TDS is done at the time of credit of interest to account, if the total interest payable to the customer during the financial year is likely to exceed the limit of Rs.10,000.

  6. At what rate is TDS deducted?

    TDS is deducted at rates as required by section 194A (Resident) and section 195 (NRO) of IT Act 1961 for the following category of account holders:

    • Resident Indians (Individuals, Trusts, Associations, HUFs, Firms Indian Companies): 10% plus applicable surcharge and education cess
    • Non-Resident Indians: 30% plus applicable surcharge and education cess

  7. Can I apply for exemption on TDS?

    Yes, you can apply for exemption on TDS, in case your total taxable income during the financial year is not likely to exceed the maximum amount which is not chargeable to income tax. For this, you need to submit self declaration in Form 15G or 15H (for senior citizens only) to the Bank to ensure non deduction of tax at source, in the beginning of respective financial year.

Tax Implications and TDS in FD

  • An amount invested in fixed deposits in a scheduled bank is eligible for tax deduction under section 80C. Only the interest earned on the deposit is taxable.
  • Tax will be deducted at source (TDS), if the interest income on a fixed deposit per annum exceeds Rs.10,000
  • A person can exempt from TDS, if he/ she submits Form 15G/ Form 15H in the beginning of each financial year

Factors affecting Fixed Deposit Interest Rates


  1. Change in Policies Rates by RBI: If there is a change in Cash Reserve Ratio (CRR) and/ or Repo Rate, it affects the fixed deposit interest rate.

  2. Inflation: As FD interest rate has to be kept higher than inflation by the banks, hence if inflation increases then FD interest rates also go higher. When inflation decreases, banks offer lower interest rates so that people can borrow and spend more.

  3. Demand and Supply of Credit: With the increase in demand of the credit/ loan, interest rates of fixed deposit also go higher. When the supply is more than the demand of credit, banks offer lower interest rates on fixed deposit.

  4. Growth Uncertainty: If there is any uncertainty of future economic growth, the banks need to offer higher interest rates on FD as a compensation for higher default risks.

  5. State of Economy: If a country's economic state is very good then the banks of that country offer higher interest rate on fixed deposits in order to attract more investments to extend more credits/ loans.

  6. Recession: Whenever there is a situation of recession in an economy, it always results into a decrease in the fixed deposit interest rate, as in case of situation of recession, the RBI needs to increase the liquidity in the market by releasing the funds i.e. by lowering CRR and hence, banks reduce the FD interest rates.

  7. Global Liquidity: Higher global liquidity results into higher domestic liquidity. In such cases banks will offer lower interest rates on FD.

Bank Recurring Interest Rates (as on 17 Oct 2018)

Bank NameRecurring Interest RatesCalculate
Allahabad Bank6.50% to 7.00%
Andhra Bank6.50% to 7.00%
Axis Bank6.75% to 7.00%
Bandhan Bank Limited7.00% to 8.00%
Bank Of Baroda6.50% to 7.00%
Bank Of India6.90% to 7.00%
Bank Of Maharashtra6.00% to 6.50%
Canara Bank6.90% to 6.90%
Catholic Syrian Bank Limited6.50% to 6.75%
Central Bank Of India6.90% to 7.00%
City Union Bank Limited6.70% to 7.10%
Corporation Bank6.90% to 7.00%
Dcb Bank Limited7.20% to 7.10%

Co-Operative Banks Interest Rates

Ahmedabad Mercantile Cooperative BankKalupur Commercial Cooperative BankThe Mehsana Urban Cooperative Bank
Rajkot Nagrik Sahakari Bank LimitedSardar Bhiladwala Pardi Pepls Co BkThe Surath Peoples Cooperative Bank Limited
Amanath Cooperative Bank Ltd. BangaloreThe A.p. Mahesh Cooperative Urban Bank LimitedAbhyudaya Cooperative Bank Limited
Apna Sahakari Bank LimitedBassein Catholic Cooperative Bank LimitedBharat Cooperative Bank (mumbai) Ltd., Mumbai
Bharati Sahakari BankBombay Mercantile Co Op Bank LtdCitizen Credit Cooperative Bank Limited
The Cosmos Co Operative Bank LimitedDombivli Nagari Sahakari Bank LimitedThe Goa Urban Co Op Bank Ltd
G P Parsik BankThe Greater Bombay Cooperative Bank LimitedJalgaon Janata Sahakari Bank Limited
The Jalgaon Peopels Cooperative Bank LimitedJanakalyan Sahakari Bank LimitedJanalaxmi Coop Bank
Kallappanna Awade Ichalkaranji Janata Sahakari Bank LimitedKalyan Janata Sahakari BankKapol Cooperative Bank Limited
The Karad Urban Cooperative Bank LimitedMahanagar Cooperative BankThe Mapusa Urban Coop Bank Of Goa Ltd
Nagar Urban Co Operative BankNasik Merchants Cooperative Bank Ltd.New India Cooperative Bank Limited
Nkgsb Cooperative Bank LimitedPravara Sahakari Bank LtdPunjab And Maharshtra Cooperative Bank
Rajarambapu Sahakari Bank LtdRupee Cooperative Bank Ltd.Sangli Urban Co Op Bank Ltd Sangli
Saraswat Cooperative Bank LimitedThe Shamrao Vithal Cooperative BankSolapur Janata Sahakari Bank Limited
The Thane Bharat Sahakari Bank LimitedTjsb Sahakari Bank LtdThe Zoroastrian Cooperative Bank Limited
Nagpur Nagarik Sahakari Bank LimitedShikshak Sahakari Bank LimitedThe Akola Janata Commercial Cooperative Bank Ltd., Akola.
Akola Urban Coop Bank Khamgaon Urban Co Op Bank LtdJanata Sahakari Bank Limited
Idukki District Cooperative Bank  

Upcoming Bank Holidays

2018 October 18 is a bank holiday in Andaman And Nicobar Island due to Durga Puja/Ayudhapooja/Dussehra (Mahanavami/Vijaya Dashmi).
2018 October 19 is a bank holiday in Andaman And Nicobar Island due to Durga Puja/Dussehra (Vijaya Dashmi)/Kati Bihu.
2018 October 24 is a bank holiday in Andaman And Nicobar Island due to Lakshmi Puja/Maharshi Valmiki Jayanthi.
2018 October 27 is a bank holiday in Himachal Pradesh due to Karva Chauth.
2018 October 31 is a bank holiday in Sikkim due to Lhabab Duechen.
2018 November 01 is a bank holiday in Karnataka due to Kannada Rajyostsava/Kut.

Bank Loan Services

Search IFSC/MICR/ATM

 

 

 

Financial Calculators

Search Bank By Branch

Bank Interest Rates

ALL INDIA BANKS LIST
A B BANK LIMITED ABN-AMRO Bank N.V ABU DHABI COMMERCIAL BANK AIRTEL PAYMENTS BANK LIMITED
ALLAHABAD BANK American Express Banking Corp ANDHRA BANK Antwerp Diamond Bank NV
AU SMALL FINANCE BANK LIMITED AXIS BANK B N P PARIBAS BANDHAN BANK LIMITED
BANK OF AMERICA BANK OF BAHARAIN AND KUWAIT BSC BANK OF BARODA BANK OF CEYLON
BANK OF INDIA BANK OF MAHARASHTRA BANK OF TOKYO MITSUBISHI LIMITED BARCLAYS BANK
BHARATIYA MAHILA BANK LIMITED Calyon Bank CANARA BANK CAPITAL SMALL FINANCE BANK LIMITED
CATHOLIC SYRIAN BANK LIMITED CENTRAL BANK OF INDIA CHINATRUST COMMERCIAL BANK LIMITED CITI BANK
CITY UNION BANK LIMITED CORPORATION BANK DBS Bank Ltd DCB BANK LIMITED
DENA BANK DEUSTCHE BANK DHANALAKSHMI BANK EQUITAS SMALL FINANCE BANK LIMITED
ESAF SMALL FINANCE BANK LIMITED EXPORT IMPORT BANK OF INDIA FEDERAL BANK FINCARE SMALL FINANCE BANK LTD
HDFC BANK HSBC BANK HSBC BANK OMAN SAOG ICICI BANK LIMITED
IDBI BANK IDFC BANK LIMITED INDIAN BANK INDIAN OVERSEAS BANK
INDUSIND BANK JAMMU AND KASHMIR BANK LIMITED JP MORGAN BANK JSC VTB BANK
KARNATAKA BANK LIMITED KARUR VYSYA BANK KOTAK MAHINDRA BANK LIMITED Krung Thai Bank Public Co. Ltd
LAXMI VILAS BANK MASHREQBANK PSC MIZUHO CORPORATE BANK LIMITED NORTH EAST SMALL FINANCE BANK LIMITED
OMAN INTERNATIONAL BANK SAOG ORIENTAL BANK OF COMMERCE PUNJAB AND SIND BANK PUNJAB NATIONAL BANK
RBL Bank Limited SBM BANK MAURITIUS LIMITED SHINHAN BANK SOCIETE GENERALE
SONALI BANK LTD SOUTH INDIAN BANK STANDARD CHARTERED BANK STATE BANK OF BIKANER AND JAIPUR
STATE BANK OF HYDERABAD STATE BANK OF INDIA STATE BANK OF MYSORE STATE BANK OF PATIALA
STATE BANK OF TRAVANCORE SURYODAY SMALL FINANCE BANK SYNDICATE BANK TAMILNAD MERCANTILE BANK LIMITED
THE BANK OF NOVA SCOTIA THE NAINITAL BANK LIMITED UBS AG UCO Bank
Ujjivan Small Finance Bank Limited UNION BANK OF INDIA UNITED BANK OF INDIA UNITED OVERSEAS BANK LIMITED
UTKARSH SMALL FINANCE BANK VIJAYA BANK Woori Bank YES BANK
ZILA SAHAKARI BANK LTD