Earn interest up to 8.10% p.a. by investing in a Bajaj Finance Fixed Deposit | Rated CRISIL AAA/ STABLE and [ICRA]AAA(stable)

** Disclaimer: IndusInd Bank has not partnered with Bajaj Markets. The information is intended for educational purposes only. You are advised to contact the Banks/NBFCs for additional details.

 

As a reputed Indian bank, IndusInd Bank offers various investment and wealth-growing options. Among the various investment options available, IndusInd FD schemes are tailor-made for risk-averse investors. IndusInd Bank FD rates vary from 3.50%-6.75%, while IndusInd Bank fixed deposit rates for senior citizens range from 4.25%-7.75%. FD tenors can vary from a minimum of 7 days to a maximum of 61 months or above. 

 

Before you invest in a fixed deposit account, you should review the current IndusInd Bank FD rates (senior citizens and non-senior citizens). You can review these rates in the following table and then use the IndusInd FD calculator to figure out your maturity amount for a definite tenor: 

Tenor

IndusInd Bank Non-Senior Citizens FD Interest Rates

IndusInd Bank Senior Citizens FD Interest Rates

7 days to 14 days

3.50%

4.25% 

15 days to 30 days

3.50%

4.25%

31 days to 45 days

4.00% 

4.75% 

46 days to 60 days

4.00%

4.75% 

61 days to 90 days

4.25%

5.00%

91 days to 120 days 

4.50%

5.25%

121 days to 180 days 

4.74%

5.50%

181 days to 210 days

5.00%

5.75%

211 days to 269 days 

5.25%

6.00%

270 days to 354 days

5.50%

6.25%

355 days to 364 days 

5.50%

6.25%

1 year to less than 1 year 6 months

6.25%

7.00%

1 year 6 months to less than 1 year 7 months 

6.75%

7.50%

1 year 7 months to less than 2 years

6.75%

7.50%

2 years to 2 years 1 month

7.00%

7.75%

Above 2 years to less than 2 years 6 months

6.75%

7.50%

2 years to less than 2 years 9 months

6.75%

7.50%

2 years 9 months to below 3 years

6.75%

7.50%

3 years to less than 61 months

6.25%

7.00%

61 months and above

6.75%

7.50%

Note: IndusInd Bank FD interest rates w.e.f 18.10.2022 and can change from time to time as per the bank’s discretion. ROI mentioned in the table corresponds to only retail domestic deposits under ₹2 Crores. 

IndusInd Bank Fixed Deposit Calculator

Your investment tenor plays an essential role in determining the maturity amount and interest accrued on your FD. Thus, picking the right investment tenor can make a huge difference to your earnings. You can determine the right tenor using the IndusInd Bank FD calculator. The IndusInd Bank FD calculator makes it super-easy to compute the maturity amount and total interest earned at the end of the investment tenor. This helps you fine-tune your investment strategy and plan your finances better.

Deposit Amount
Tenure
Months
Interest Rate
%
Interest Payout
Your Total Maturity Amount is
Your Total Maturity Amount is
Total Investment
Total Interest Earned

Features & Benefits of Indusind Bank Fixed Deposit

  • Simplified Application Process - You can avoid the hassle of long bank queues by applying for an IndusInd FD online in under a minute. To book an IndusInd Bank FD, all you need to do is simply submit copies of your PAN and Aadhaar Card.
  • Video KYC Available IndusInd Bank fixed deposits also come with a video KYC verification option that allows you to open an FD account from anywhere and at any time. 
  • Attractive Interest Rates - IndusInd Bank FD rates range from 3.50%-6.75% p.a. for regular citizens, while FD rates for seniors can range from 4.25%-7.75% p.a. Additionally, IndusInd Bank FD rates for the tax-saver fixed deposit plan is capped at 6.75% (regular citizens) and 7.50% (seniors). 
  • Different Investment Tenors - Since IndusInd Bank FDs offer flexible investment tenors ranging from 7 days to more than 61 months, you can meet both your short and long-term investment goals.
  • Loanable Assets - Availing of a secured loan against your IndusInd Bank FD allows you to raise funds with your existing assets, that too, at a low interest rate. This is a boon for those with poor credit scores as they can borrow up to 90% of the FD amount at a nominal rate of 4.25%-8%. 
  • Convenient Auto-Renewals - You can continue reaping the benefits of IndusInd Bank FD rates with the auto-renewal facility of the Bank. 
  • Multiple Payout Options - IndusInd Bank FDs offer flexible interest payout options. Depending on your needs and preferences, you can choose from monthly, quarterly, half-yearly, yearly and maturity payout options. 
  • Option for Nomination - To ensure that your hard-earned money reaches the right hands, IndusInd Bank offers a nominal facility for its FDs. 

Indusind Bank FD Interest Rates for Senior Citizens and Others for up to 5 Years

If you’re planning on investing in an IndusInd FD, you can review the following table. Apart from the current IndusInd fixed deposit rates, the table also shows the maturity amount and interest earned at the end of different tenors. For the purpose of illustration, the deposit amount taken is 1 Lakh with interest compounding on the sum quarterly. 

Investment Tenor

IndusInd Bank FD Rates for Non-Senior Citizens*

Interest Earned

Maturity Amount

IndusInd Bank FD Rates for Senior Citizens*

Interest Earned

Maturity Amount

1 Year

6.25%

₹6,398

₹1,06,398

7.00%

₹7,186

₹1,07,186

2 Years

7.00%

₹14,888

₹1,14,888

7.75%

₹16,593

₹1,16,593

3 Years

6.75%

₹22,239

₹1,23,239

7.50%

₹24,972

₹1,24,972

4 Years

6.75%

₹30,702

₹1,30,702

7.50%

₹34,611

₹1,34,611

5 Years

6.25%

₹36,354

₹1,36,354

7.00%

₹41,478

₹1,41,478

*IndusInd Bank FD Interest rates w.e.f 18.10.2022. Interest rates may change as per the bank’s discretion and policies. 

Eligibility Criteria & Document Required for Opening FD in IndusInd Bank

Indian citizens above the age of 18 years, possessing the required KYC documents, can apply for an IndusInd Bank FD. Let’s have a closer look at the eligibility criteria and documents needed for booking such plans. 

Eligibility Criteria

To reap the benefits of IndusInd Bank FD rates, you need to meet the following eligibility criteria:

 

  • Individuals

  • Hindu Undivided Families (HUF)

  • Sole proprietorship 

  • Partnership firms

  • Limited companies

  • Guardians on behalf of minors

  • Associations 

  • Trusts 

  • Societies 

  • Clubs

Documents required

You can submit copies of any one of the following documents: 

 

  • Aadhaar Card

  • PAN Card

  • Government-issued photo ID

  • Passport

  • Driver’s licence 

  • Senior citizen ID card (if above 60 years)

  • Utility bills (electricity bill, telephone bill, etc.)

  • Passport

  • Bank statement with a cheque 

 

The good news is that if you already have an IndusInd Bank account, you can book an FD without submitting any of the aforementioned documents. 

How to Open FD in IndusInd Bank

Online Via the IndusInd Website (For Both New and Existing Customers)

  • Step 1: Visit the IndusInd Bank website and click on the ‘Apply’ option under the FD tab

  • Step 2: Select your customer type - existing or new

  • Step 3: Fill in your mobile number and captcha 

  • Step 4: Verify your PAN and Aadhaar details

  • Step 5: Input the details of your FD

  • Step 6: Complete the video KYC process

  • Step 7: Deposit funds into the account

 

Online Via the IndusInd Bank Mobile App (Only for Existing Customers)

  • Step 1: Log in to your mobile banking account with your credentials 

  • Step 2: Go to the ‘Fixed Deposits’ tab and click on the ‘Create Fixed Deposit’ option

  • Step 3: Fill in the FD opening form and click the ‘Submit’ button

  • Step 4: Once submitted, the FD amount will automatically get transferred from your savings account

 

Offline Via a Bank Branch  (For Both New and Existing Customers)

  • Step 1: Visit your nearest IndusInd Bank branch

  • Step 2: Collect the FD opening form

  • Step 3: Fill up the form with essential details 

  • Step 4: Submit supporting KYC documents along with the FD amount (only non-customers)

  • Step 5: The sum will be automatically deducted for existing customers. 

  • Step 6: Once the application is processed, you will receive the IndusInd Bank FD receipt

 

How to Use the IndusInd Bank Fixed Deposit Calculator? 

The easiest way of computing your FD returns is to use the IndusInd Bank FD calculator. Follow the below-mentioned steps to calculate your maturity amount and returns with the IndusInd Bank FD calculator: 

  • Step 1: Input the principal amount

As the first step, you will have to enter the principal amount into the IndusInd Bank FD calculator. This is the amount of money you wish to park in the FD account. 

  • Step 2: Select the investment tenor

Next, fill in your preferred investment tenor into the IndusInd Bank FD calculator. You can select an investment tenor ranging from 7 days to above 61 months. 

  • Step 3: Choose the type of deposit

In this step, you have to pick a preferred deposit type and interest payout option. In other words, you will have to select whether you want the interest to be reinvested or to be paid out monthly or quarterly. 

  • Step 4: Click on the calculate button 

As the last step, click on the ‘Calculate’ button. Once you do that, the IndusInd Bank FD calculator will display your maturity amount and interest earnings. 

How is Indusind Bank FD Maturity Amount Calculated?

You can calculate the maturity amount due at the end of the IndusInd FD tenor using the following compound interest formula: 

 

M = P (1+r/n) ^ (n * t)

 

Where M is the maturity amount, P is the principal invested, i is the IndusInd Bank FD rate, n is the frequency of compounding and t is the tenor for the deposit. Here’s an example to help you understand how this formula works:

 

Let’s say you wish to earn high interest on a sum of ₹3 Lakhs. Since savings bank accounts offer low returns, you decide to park it in an IndusInd Bank fixed deposit plan. Now, you plan on using the sum for international travel after 2 years. The applicable IndusInd Bank FD rates for this period is 7.00% p.a. At this rate, your earnings at the end of 2 years will be:

 

M =₹3,00,000 X (1+0.07/4)4x2

= ₹5,00,000 X (1+0.0175)8

= ₹5,00,000 X (1.0175)8

= ₹5,00,000 X (1.149)

= ₹5,74,500

 

However, such manual calculations have become quite outmoded with the advent of FD calculators. The IndusInd Bank FD calculator is a reliable online tool that helps you get a clear idea about your returns from the investment. Additionally, using this formula for multiple calculations can be a hassle. However, with the IndusInd Bank FD calculator, you can run multiple tenor and principal amount combinations to maximise your earnings. Apart from being convenient, the IndusInd Bank FD calculator is also quite precise. Thus, using the IndusInd FD calculator tool will allow you to compute your maturity amount without calculation errors. 

 

FAQs

  • ✔️Is premature withdrawal allowed in an IndusInd Bank FD?

    Yes. Premature withdrawals are allowed for all callable IndusInd fixed deposits. However, the Bank levies a penalty charge of 1% on such withdrawals.

  • ✔️Can I extend the tenor of my IndusInd Bank FD?

    Yes. You can extend the tenor of your IndusInd deposit by opting for the automatic renewal facility or updating your standing instruction before/after the FD matures.

  • ✔️Can I take a loan against my IndusInd Bank FD?

    Yes. All IndusInd Bank fixed deposits - except the tax-saver deposit- are loanable assets. This means that you can use the FD amount as collateral to secure a loan from the bank. IndusInd Bank allows depositors to borrow up to 90% of the FD amount as a loan.

  • ✔️What types of forms should I use for opening an IndusInd Bank FD account?

    You will need a physical IndusInd Bank FD form to book an FD offline. However, if you’re booking one online, you can find the FD application form on the IndusMobile app or the Bank’s website.

  • ✔️Are there any IndusInd Bank schemes for tax exemption?

    Yes. You can enjoy tax deductions of up to ₹1.5 Lakhs per financial year with the Indus Tax-Saver FD scheme. While IndusInd Bank FD rates for this plan are quite high, you will have to lock in your investment for 5-years.

  • ✔️How can I apply for the tax saving scheme in IndusInd Bank?

    You can apply for the Indus tax-saving FD scheme via both the online and offline modes. To apply via the online mode, log in to your mobile banking account via the IndusInd mobile app or visit the bank’s website. To apply offline, visit the nearest IndusInd Bank branch. 

  • ✔️Is TDS deducted on the IndusInd Bank FD interest amount?

    Yes. Like all other FD plans, IndusInd Bank FDs are also subject to TDS deductions. As per RBI’s rules, a TDS of 10% is collected on interest earnings of more than ₹40,000 in a year. Senior citizens have to pay TDS only if their earnings exceed the ₹50,000 mark.

  • ✔️How can I claim a TDS Refund on my IndusInd FD interest online?

    Visit the Income Tax portal and log in with your credentials. Next, fill out the relevant ITR form with all the important details. File your ITR form to claim your refund.

  • ✔️Is there any nomination facility under the IndusInd Bank FD facility?

    Yes. All IndusInd Bank fixed deposit plans allow the depositor to assign a beneficiary to the account. 

  • ✔️Can I avail of a loan facility under the IndusInd Bank FD scheme?

    Yes. You can avail of a secured loan against your IndusInd Bank deposit at a rate of 4.25%-8%. You can borrow up to 90% of your FD funds.

  • ✔️Is there any credit card facility under the IndusInd Bank FD scheme?

    No. As of now, IndusInd Bank does not offer a credit card facility against its FD schemes.

  • ✔️What is the highest interest rate on fixed deposits offered by IndusInd Bank?

    Currently, the highest IndusInd Bank FD interest rate for regular citizens is 7.00%, while for seniors, the highest rate is 7.75%. Both rates are applicable for deposit tenors ranging from 2 years to 2 years 1 month.

  • ✔️Can a customer of IndusInd Bank open an FD account online?

    Yes. Both existing and new customers can open an IndusInd FD online via the Bank’s website. If you are already an IndusInd customer and have a mobile banking account, you can book an FD via the IndusMobile app.

  • ✔️Is it secure to open an FD with IndusInd Bank?

    It is absolutely safe to invest in IndusInd FDs as these plans are covered under RBI’s Deposit Insurance Scheme. This Scheme insures FD funds of up to ₹5 Lakhs.

  • ✔️What is the minimum amount required to open a fixed deposit account with IndusInd Bank?

    You can book an IndusInd FD with a minimum deposit of ₹10,000.