IndusInd Bank Savings Account

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Indusind Bank Savings Account

A savings account is the most common form of an interest-bearing deposit account which is held with a bank or NBFC that provides a small interest rate. There are also various fees associated with a savings account unless you maintain a particular balance each month. The balance required, interest rate and allied fees and charges vary from bank to bank. In general, there is a limit on the number of withdrawals you can make from the account each month. Though banks rarely enforce it, they might charge you for withdrawals over the set limit in certain circumstances.

IndusInd Bank Savings Account

IndusInd savings account provides a host of banking benefits including reward points for various transactions, lifestyle and privilege offers, trading and portfolio solutions, flexible easy accounts management, special banking facilities for senior citizens, along with competitive savings account interest rate. You can make quick utility bill payments, enjoy free NEFT and RTGS facilities with the latest features in convenience banking with an IndusInd Savings Account.

Features and Benefit of IndusInd Savings Account

There are various benefits to having a savings account with IndusInd Bank. Following is an overview.

Choose your own account number: You get to personalize your savings account number by choosing your own digits through the MAMN facility. The major advantage of choosing your own account number is that you can easily recollect your account number on-the-go whenever you need to conduct any phone banking or net banking sessions.

Choose what amount of denomination you wish to withdraw: The Choice Money option enables you to withdraw cash in the denomination of your choice across all IndusInd Bank ATMs.

No IVR (Interactive Voice Response), no waiting to press the buttons to reach a phone banking officer: IndusInd Select and IndusInd Exclusive savings customers have the added benefit of not waiting at the IVR line if you need to talk immediately to a customer care representative. Directly reach out to the phone banking executives and Relationship Managers for all your queries and banking assistance.

Keep a tab on cheques issued by you: Now, receive a picture of every cheque that you issue from your IndusInd Bank account along with your bank statement. This facility helps keep track of your issued cheques.

Video Branch: You can communicate with IndusInd Branch Managers, Relationship Managers, and centralized Video Branch Executives through the secure IndusInd video branch. This makes NEFT, RTGS transactions, Fixed and Recurring Deposit account openings and other banking activities much easier. This can be carried out from anywhere in the world with a video branch.

Social Banking: You can stay connected to your IndusInd Bank account through Facebook. You can carry out general banking activities like check your balance, get mini-statements, recharge your mobile and DTH. You can use QuickPay to send money without knowing the bank details of the recipient – all you need is the email and mobile number.

Insurance: IndusInd savings account come with the added benefit of complimentary insurance policies, safeguarding you against risks.

Lifestyle Benefits: The IndusInd Bank savings account provides you with some of the finest lifestyle and leisure privileges, such as discounts on movie tickets at BookMyShow website, offers at leading spas, discounts on dining, etc.

Types of IndusInd Savings Accounts

Indus Exclusive Savings Account

  • Lifetime free Platinum Exclusive Debit Card
  • Buy one and get one free movie ticket from BookMyShow
  • Get up to 100% discount on first year fee of Standard Locker (Conditions apply).

Indus Select Savings Account

  • Lifetime free Platinum Select Debit Card
  • Buy one and get one free movie ticket from BookMyShow
  • Get up to 50% discount on first year fee of Standard Locker (Conditions apply).

Indus Maxima Savings Account

  • Two free add-on accounts
  • Platinum Debit Card free on add-on account

Indus Privilege Savings Account

  • Free Indus Young Savers Account
  • Get Cashback through Indus Money Program

Indus Privilege Active

  • Choose the account number of your choice
  • Specially crafted Platinum Plus Debit Card
  • ( Can only apply online through the IndusInd website)

Indus Diva Savings Account

  • Specially crafted for women
  • 25% discount on first year fee of Standard Locker
  • Free add-on account for family

Indus Senior Savings Account

  • A savings account for the senior citizens
  • 0.5% additional interest on Fixed Deposit
  • Insurance and medical discounts

Indus 3 in 1 Saving Bank Account

  • A 3-in-1 account apt for e-trading in the Indian capital markets
  • Access to world class advisory/research

Indus Young Saver

  • A savings and investment solutions for your child
  • Cheque book on your child’s name
  • Personalized Debit Card

Indus Classic Savings Account

  • Reward points on every transaction made through debit card
  • Free monthly e-statement

Indus Easy Savings Account

  • Free ATM card
  • Free monthly e-statement

Indus Small Account

  • Free ATM Card
  • Get 5 Free domestic other bank ATM transactions in a month, no charges apply!

IndusInd Savings Account Minimum Balance

The minimum balance required in IndusInd savings account differs with each kind of account. following is an overview:

Type of Savings Account Balance Required
Indus Maxima Savings Account Average Quarterly Balance – INR 25,000
Indus Privilege Savings Account MAB of Rs. 10, 000 in A category branches
MAB of Rs. 10, 000 in B category branches
MAB of Rs. 5,000 in C category branches
Indus Privilege Active This is a transaction based account with no requirement of monthly average balance.
Indus Diva Savings Account Average Quarterly Balance of Rs 25,000 or Fixed Deposit of Rs 5,00,000
Indus Senior Savings Account Indus Senior (Privilege)
Average Monthly Balance of Rs. 10,000 or Fixed Deposit of Rs. 2,50,000
Indus Senior (Maxima)
Average Quarterly Balance of Rs 25,000 or Fixed Deposit of Rs. 5,00,000
Indus Young Saver Monthly balance requirement: 5000, waived off if a parent privilege account is linked, or on a Recurring Deposit of 2,500 or more per month
Indus Classic Savings Account A Category Branches – Rs. 10,000
B Category Branches – Rs. 10,000
C Category Branches – Rs. 2,500
Rural/C1 Category Branches - Rs. 1,500
Indus Easy Savings Account Zero minimum balance

IndusInd Savings Account Interest Rate

IndusInd savings account comes with interest rates of up to 6%. Following is a break up:

(Do keep in mind that these rates can change at any time and can be changed at the sole discretion of the Bank. For the latest rates, it is advisable to check with IndusInd Bank directly.)

Balance Interest Rate on Balance
Daily balance up to 1 lac 4 %
Daily balance above 1 lac and up to 10 lacs 5 %
Daily Balance above 10 lacs 6 %

IndusInd Bank Savings Account Charges

Different IndusInd savings accounts have a different schedule of charges. It is better to contact IndusInd bank directly for the most up to date charges.

How to open an IndusInd Bank Savings Account

IndusInd bank savings account opening is easy and hassle-free with options to open an account online or in person at the nearest branch.

You can walk into your nearest IndusInd Bank branch or choose to open a savings account online with an Account Number of your choice, taking your KYC documents with you. If you apply online, you have the added advantage of a quick and hassle-free doorstep documentation process. In other words, the bank comes to you!

IndusInd Bank Savings Account FAQS

What is the best interest rate on an IndusInd saving account?

The interest rates can go up to as high as 6% for a daily balance of Rs. 10 lacs and above. For the latest interest rates, it is better to contact the nearest IndusInd Branch.

Are there any movie offers associated with IndusInd savings account?

You get a buy one get one free offer on the BookMyShow website when you use your Platinum Exclusive Debit card to book movie tickets. Get 3 free tickets every quarter.

What is the eligibility for Senior Citizen savings account?

The applicant has to be a resident Indian above the age of 60 years at the time of application. In case of a joint account, the Senior Citizen has to be the first applicant.

What is the eligibility for IndusInd Young Saver account?

The Indus Young Saver Account can be opened in the minor's name, by the minor himself/herself if the minor's age is 12 years or more, or as an "Under Guardian" account, where the parent shall be in charge and operating the account.

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