Indusind Bank Savings Account Interest Rate
A Savings Account is very beneficial with multiple advantages as detailed below:
(1) Earns Interest on your Savings
In a Savings Account Interest Rate Calculator, you will be required to enter information like average balance and interest rate offered by the bank. You will also be required to select if the interest will be credit on a monthly, quarterly, half yearly or yearly basis. IndusInd Bank is not obligated to update the information contained in the forex rate list available on the Bank's website, and the service of providing forex rates may be discontinued at any time without notice. Karur Vysya Bank savings account interest rate – 2.75% #9. HDFC Savings Account Interest Rate. HDFC Bank is one of the most popular private banks in India. The bank has around 6,000 branches in around 2800 cities across the country. HDFC Bank savings account interest rate – 3.50%. The bank offers two slabs of interest on the savings account.
This is the first and foremost benefit of opening a savings account. It starts earning interest on your money as soon as it is deposited. The interest rate is decided solely by the bank and changes from time to time. Regular interest depends upon the balance of the savings account.
Interest rate in savings account ranges from 3.5% to 7%.
(2) Provides Security of Funds
There is no risk involved in your savings account. It is considered as one of the safest investment alternatives. It even offers you the opportunity to put your money into another investment whenever the time comes.
(3) No Lock-in Period
Indusind Bank Fd Rate
There is no lock-in period under savings account which means that you can withdraw your deposits anytime you need. There is no need to keep your money in this account for any specific period. You have full flexibility in withdrawal of amount from it.
(4) Offers Liquidity
You can withdraw the amount anytime 24X7 with the use of ATM card or debit card from your account during any emergency even when the bank is closed. In fact, being able to access your money when you need it, is one of the biggest benefit of having a savings account.
(5) Availability of Variety of Savings Account
Many banks offer comprehensive range of savings accounts from regular to premium suiting to your personal banking needs. There are different types of savings accounts offered by various banks that differ based on the interest rates and duration of time commitments. You can choose any of them which suits your financial objectives and requirements.
(6) Services of Customer Relation Manager
Now-a-days many of the banks engage a Customer Relation Manager (CRM) who will help not only solve your queries but also assist you in tax saving, investment, mutual fund schemes, insurance, bank procedures, etc. You need to just call your CRM and he/ she will assist you solve your problem.
(7) Online Banking Facilities
Indusind Bank Savings Account Interest Rate Calculator
If you maintain a savings account, you can make many transactions online also such as payment of bills, fund transfers using RTGS/ NEFT or IMPS, etc. This will save your time and efforts.
(8) Provides ATM/ Debit Card
You will be offered a debit or ATM card with a nominal charge or without any charges, as offered by your bank. With the help of this card, you can withdraw the funds, make transactions in shops, make payments of bills, etc.
(9) Helps you Get Credit or Loan
The relation you maintain with the bank will help you in getting credits from the bank such as home loan, personal loan. You will also be in a position to negotiate with the banker on the interest rates.
(10) No Cap on Deposits
There is no limit on the amount deposited and number of times it is deposited.
(11) Facility to link Loan EMIs, Mutual Fund SIPs or RD deductions
You get a facility to link your monthly loan EMIs, Mutual Fund SIPs or RD deductions through the savings bank account.
(12) Free Mobile App
Most of the banks provide their mobile app for free. Through this app, you can get to know your account balance, check your statement, make transactions, easy transfer of money, etc.
Domestic /NRO/ NRE/Senior Citizen Deposit Rates (all in %)
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| w.e.f. December 30th, 2020 | < 2 Cr* (Domestic /NRO/NRE deposits)NRE deposit rates applicable only forTenure 1 year 1 day onwards | < 2 Cr* (Senior Citizen)Not applicable for NRO/NRE deposits | ||
| Tenure | Rates p.a.(%) | Annualised Yield* | Rates p.a.(%) | Annualised Yield* |
| 7 days to 14 days | 3.00 | 3.00 | 3.50 | 3.50 |
| 15 days to 30 days | 3.00 | 3.00 | 3.50 | 3.50 |
| 31 days to 45 days | 3.40 | 3.40 | 3.90 | 3.90 |
| 46 days to 60 days | 3.75 | 3.75 | 4.25 | 4.25 |
| 61 days to 90 days | 4.00 | 4.00 | 4.50 | 4.50 |
| 91 days to 120 days | 4.25 | 4.25 | 4.75 | 4.75 |
| 121 days to 180 days | 4.50 | 4.53 | 5.00 | 5.03 |
| 181 days to 210 days | 5.25 | 5.28 | 5.75 | 5.79 |
| 211 days to 269 days | 5.50 | 5.58 | 6.00 | 6.09 |
| 270 days or below 1 year | 5.75 | 5.83 | 6.25 | 6.35 |
| 1 Year to 1 Year 2 Days | 6.50 | 6.61 | 7.00 | 7.12 |
| 1 Year 3 Days to 1 Year 2 Months | 6.50 | 6.66 | 7.00 | 7.19 |
| Above 1 Year 2 Months to below 1 Year 6 Months | 6.50 | 6.71 | 7.00 | 7.25 |
| 1 Year 6 Months to below 1 Year 7 Months | 6.50 | 6.77 | 7.00 | 7.31 |
| 1 Year 7 Months to below 2 Years | 6.50 | 6.77 | 7.00 | 7.31 |
| 2 years to below 2 years 6 Months | 6.50 | 6.88 | 7.00 | 7.44 |
| 2 years 6 Months to below 2 years 9 Months | 6.50 | 7.05 | 7.00 | 7.65 |
| 2 years 9 Months to below 3 years | 6.50 | 7.11 | 7.00 | 7.71 |
| 3 years to below 61 month | 6.50 | 7.36 | 7.00 | 8.00 |
| 61 month and above | 6.25 | 7.27 | 6.75 | 7.95 |
| Indus Tax Saver Scheme (5 years) | 6.50 | 7.61 | 7.00 | 8.30 |
*Interest is compounded quarterly. Annualized yield is effective annual return basis the same.
# Simple interest will be paid on maturity for deposit wherever the tenure is upto 180 days.
| Please Note |
| **Penal interest rate charge of 1% would apply on premature withdrawal. ***Premature withdrawal is not allowed on Non-Callable FDs (FDs where Premature Withdrawal is Not Allowed) for value greater than equal to 1 cr. Non-Callable FDs are allowed only for Non-Individuals. # Simple interest will be paid on maturity for deposit wherever the tenure is upto 180 days. Income more than tax exempted limits earned through interest on FD is tax deductible. In the absence of PAN card, TDS will be deducted at 20%. NRE deposit rates are applicable only for Tenure 1 year 1 day onwards. |
| Senior Citizens - Additional interest rate on Domestic Term Deposits |
| *An additional interest rate of 0.50% over and above the card rates is applicable for Term Deposits of Senior citizens (Age 60 years & above) for value below Rs. 2 cr. (Not applicable for NRO/NRE deposits). However, in case the senior citizen opts to place deposits of value greater than or equal to 2 Cr, the benefit of additional interest shall not be available. |
Which Bank Has Best Savings Account Interest Rate
FD Rates w.e.f. December 30th, 2020
| Maturity Period | 2 crore to less than 5 crores- Premature Withdrawal Allowed** | 1 crore to less than 5 crores- Premature Withdrawal Not Allowed*** | ||
| (Only for Non-Individuals) | ||||
| Rate | Annualised Yield* | Rate | Annualised Yield* | |
| 7 days to 14 days | 3.00 | 3.00 | 3.00 | 3.00 |
| 15 days to 30 days | 3.00 | 3.00 | 3.00 | 3.00 |
| 31 days to 45 days | 3.25 | 3.25 | 3.25 | 3.25 |
| 46 days to 60 days | 3.50 | 3.50 | 3.60 | 3.60 |
| 61 days to 90 days | 3.75 | 3.75 | 3.85 | 3.85 |
| 91 days to 120 days | 4.00 | 4.00 | 4.10 | 4.10 |
| 121 days to 180 days | 4.25 | 4.25 | 4.35 | 4.35 |
| 181 days to 210 days | 5.00 | 5.03 | 5.10 | 5.13 |
| 211 days to 269 days | 5.25 | 5.32 | 5.35 | 5.42 |
| 270 days or below 1 year | 5.60 | 5.68 | 5.75 | 5.83 |
| 1 Year to 1 Year 2 Days | 6.25 | 6.35 | 6.35 | 6.45 |
| 1 Year 3 Days to 1 Year 2 Months | 6.25 | 6.40 | 6.35 | 6.50 |
| Above 1 Year 2 Months to below 1 Year 6 Months | 6.40 | 6.61 | 6.50 | 6.71 |
| 1 Year 6 Months to below 1 Year 7 Months | 6.40 | 6.66 | 6.50 | 6.77 |
| 1 Year 7 Months to below 2 Years | 6.40 | 6.66 | 6.50 | 6.77 |
| 2 years to below 2 years 6 Months | 6.40 | 6.77 | 6.50 | 6.88 |
| 2 years 6 Months to below 2 years 9 Months | 6.40 | 6.94 | 6.50 | 7.05 |
| 2 years 9 Months to below 3 years | 6.40 | 6.99 | 6.50 | 7.11 |
| 3 years to below 61 month | 6.40 | 7.23 | 6.50 | 7.36 |
| 61 month and above | 6.15 | 7.14 | 6.25 | 7.27 |
| Indus Tax Saver Scheme (5 years) | NA | NA | NA | NA |
FCNR / RFC* Deposits - w.e.f. December 1st, 2020
| Period | USD | GBP | EUR | JPY | CAD | AUD |
| 1yr < 2 yrs | 2.22 | 1.85 | 1.48 | 0.02 | 2.62 | 2.00 |
| 2 yrs< 3 yrs | 2.26 | 2.00 | 1.48 | 0.01 | 2.50 | 2.08 |
| 3 yrs< 4yrs | 2.00 | 1.55 | 1.30 | 2.95 | 2.45 | 2.30 |
| 4 yrs< 5 yrs | 1.75 | 1.55 | 1.15 | 0.01 | 2.45 | 2.35 |
| 5 yrs | 1.70 | 1.70 | 1.10 | 2.96 | 2.30 | 2.30 |
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| In case of pre-mature withdrawal of FCNR (B) deposits, |
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Indusind Fd Rates
| In case of premature closure of NRE / FCNR/ RFC Term deposit the interest rate payable will as under: |
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| Method of calculation of interest: |
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| Interest on Fixed Deposit can be paid for a period of less than a quarter (monthly interest payout) at the discounted interest rates as per regulatory directives. |
Recurring Deposits Rates w.e.f. December 30th, 2020
| Tenure | Interest Rate p.a.(%) | Senior Citizen Rates p.a.(%) |
| 09 Months | 5.75 | 6.25 |
| 12 Months | 6.50 | 7.00 |
| 15 Months | 6.50 | 7.00 |
| 18 Months | 6.50 | 7.00 |
| 21 Months | 6.50 | 7.00 |
| 24 Months | 6.50 | 7.00 |
| 27 Months | 6.50 | 7.00 |
| 30 Months | 6.50 | 7.00 |
| 33 Months | 6.50 | 7.00 |
| 3 years to below 61 month | 6.50 | 7.00 |
| 61 month and above | 6.25 | 6.75 |
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