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Secure investment, reasonable returns, and minimal risk – that’s precisely what fixed deposits (FD) offer. That’s why FDs are pretty popular amongst Indian investors.
If you’re looking to steadily grow your corpus without compromising liquidity, IndusInd Bank’s fixed deposits are the right option for you. From cumulative and non-cumulative FD schemes to short or long tenures, their flexible fixed deposit schemes offer it all, and at attractive interest rates too!
Plus, you get to maintain your liquidity with their super-convenient partial withdrawal option. Should the need arise, you can swiftly liquidate a portion of your FD at any time for a nominal fee. Like what you hear? Well, you can apply for their FD schemes online and start saving efficiently today. But before you do that, here are some things you should know about.
Table of Contents
Eligibility Criteria for IndusInd Banks Fixed Deposits
IndusInd Bank has stipulated some basic eligibility criteria, which you must fulfil to apply for FD online. Here are the requirements:
- You must be a citizen of India
- You must be more than 18 years of age
- You must have essential KYC documents like Aadhaar and PAN card
Documents Required
Like most banking procedures, opening an IndusInd FD online requires you to present your documents for validation. Here’s all the paperwork required:
- Aadhaar Card
- PAN card
- One-time password sent to your registered mobile number.
The best part is since the process is entirely online, you don’t need to submit any physical documents at the time of booking the FD. Plus, if you’re an existing IndusInd Bank customer, you don’t need to file any documentation at all.
However, you do need to hand in the KYC documents within one year of account opening.
Deposit Amount and Tenure
For existing IndusInd Bank customers, the fixed deposit amount ranges from Rs. 10,000 to Rs. 10 Lakhs.
Without video KYC, a new customer can only deposit an amount between Rs. 10,000 and Rs. 90,000 in their FD account. With video KYC, a new customer can book an FD of any amount.
On the other hand, the minimum tenure for an IndusInd Bank fixed deposit is six months, and the maximum is ten years.
Receiving Interest
IndusInd Bank will directly credit the interest you’ve earned on the fixed deposit in your IndusInd Bank savings account. However, if you don’t have a savings account with them, IndusInd Bank will transfer your interest to you via issuing a demand draft in your name. However, if you don’t have a savings account with them, IndusInd Bank will transfer your interest to any other bank account in your name.
Application Process
You can book an IndusInd Bank fixed deposit online in a few simple steps. Here’s what you need to do:
Step 1: Visit IndusInd Bank’s online FD webpage. Specify your customer type and fill the online application.
Step 2: Select the FD deposit type and authenticate your identity.
Step 3: Complete the further steps and transfer the required funds to complete the process.
Once the process is complete, you’ll receive a copy of your FD s.
Over to You
With a bouquet of benefits, having an IndusInd FD becomes an efficient long-term or short-term money-saving instrument.
The best part? It doesn’t take much to open it! All you need is a device and stable internet connectivity, and you’re all set.
So why wait any longer? Apply for their fixed deposits schemes today and begin expanding your rainy-day funds.
