IndusInd Bank Savings Account
IndusInd Bank, known for its innovative banking solutions, offers a variety of Savings Accounts tailored to your financial goals and lifestyle. Whether you’re a young professional, a seasoned investor, or someone who values convenience and rewards, there’s an IndusInd Savings Account perfect for you.
Features and Services of IndusInd Bank Savings Account
- 24/7 Banking: Manage your account anytime, anywhere with IndusInd’s user-friendly mobile app and internet banking platform.
- Competitive Interest Rates: Earn attractive interest on your savings, helping your money grow steadily.
- Wide ATM Network: Access your cash conveniently with over 18,000 ATMs across India.
- Debit Card Benefits: Choose from a range of debit cards tailored to your spending habits, offering rewards, cashback, and other exclusive benefits.
- Add-on Facilities: Enhance your account with features like overdraft protection, standing orders, and bill pay services.
Types of IndusInd Bank Savings Accounts
- Indus Classic Savings Account: Ideal for everyday banking with basic features and minimum balance requirement.
- Indus Super Saver Account: Higher interest rates with slightly higher minimum balance requirement.
- Indus Exclusive Savings Account: Premium banking experience with dedicated relationship manager, airport lounge access, and exclusive benefits.
- Indus Insta Save Account: Open instantly online with no paperwork and zero balance.
- Indus Freedom Savings Account: Designed for students with zero balance requirement and special features.
- Indus Young Saver Account: Joint account for minors with parent/guardian, promoting financial habits early.
IndusInd Bank Savings Account Minimum Balance and Interest Rates
| Account Type | Minimum Balance (₹) | Interest Rate (%) |
|---|---|---|
| Indus Classic Savings Account | 1,500 | 3.00% – 3.50% |
| Indus Super Saver Account | 10,000 | 3.50% – 4.00% |
| Indus Exclusive Savings Account | 50,000 | 4.00% – 4.50% |
| Indus Insta Save Account | 0 | 3.00% |
| Indus Freedom Savings Account | 0 | 3.00% |
| Indus Young Saver Account | 0 | 3.00% |
IndusInd Bank Savings Account Charges
| Charge | Description |
|---|---|
| Account Maintenance Charges | |
| - Below Min. Balance (Classic/Super/Exclusive) | 6% of shortfall (Min ₹100, Max ₹600) |
| - Below Min. Balance (Insta/Freedom/Young) | Nil |
| Transaction Charges | |
| - Cash Withdrawal (Exceeds Free Limit) | ₹20 + GST per transaction |
| - ATM Cash Withdrawal (Non-IndusInd Bank) | ₹20 + 5% of transaction amount + GST |
| - Fund Transfer (Online/Mobile – Excess Use) | ₹5 + GST per transaction |
| - Demand Draft Issuance | ₹50 per draft |
| - Cheque Issuance (Beyond Free Limit) | ₹10 per cheque |
| - Returned Cheque Charge | ₹100 per cheque |
| - SMS Alerts Charge | ₹15 + GST per month |
Note: The interest rates and fees are subject to periodic revision. Please refer to the IndusInd Bank official site for the most current details.
Steps to Open an IndusInd Bank Savings Account:
- Research Account Types: IndusInd Bank offers various types of savings accounts tailored to different customer needs. Research and choose the one that best suits your requirements.
- Visit IndusInd Bank Website: Access the IndusInd Bank website to explore the different types of savings accounts offered and understand their features and benefits.
- Apply Online or Offline: You can apply for an IndusInd Bank Savings Account online through their website or visit the nearest branch to apply in person.
- Fill Application Form: If applying online, fill out the application form with accurate details. If applying offline, fill the form provided by the bank.
- Provide Documents: Prepare the necessary documents required for opening a savings account. Typically, you’ll need identity proof, address proof, and photographs.
- Submit Application: After filling out the application form, submit it along with the required documents either online or at the branch.
- Verification: IndusInd Bank will verify your application and documents provided. You may receive a confirmation email or SMS regarding the status of your application.
- Follow-Up: If required, follow up with IndusInd Bank regarding any additional information or verification process.
- Account Activation: Once your application is approved and verified, IndusInd Bank will provide you with the details of your new savings account, including the account number and other relevant information.
Documents Required for Opening an IndusInd Bank Savings Account:
- Identity Proof: Aadhaar card, Passport, PAN card, Voter ID, Driving License, etc.
- Address Proof: Aadhaar card, Passport, Utility bills (electricity, water, gas), Rental agreement, Bank statement, etc.
- Photographs: Passport-sized photographs.
Benefits of IndusInd Bank Savings Account:
- Competitive interest rates
- Convenient banking services
- Access to a wide network of ATMs and branches
- Online banking facilities
- Personalized customer service