Are you looking for a trustworthy bank to invest in a fixed deposit (FD)? IndusInd Bank, a renowned name in banking, brings you a robust fixed deposit product that offers guaranteed returns, one of the highest interest rates in the market, and complete flexibility.
Here’s what makes IndusInd Bank’s FD an absolutely safe option to park your funds in.
Features of IndusInd Bank Fixed Deposit
IndusInd Bank’s fixed deposits pack a variety of compelling features.
Flexible tenure
You might believe fixed deposits to be a long-term investment. But with IndusInd Bank, you can lock-in your funds for any period between 7 days to 10 years. Not just that, if you link your FD account with your IndusInd Bank savings account, you can unlock the sweep-in and sweep-out facility as well. This automatically transfers any balance amount from your FD to your savings account if it falls short. If funds in your savings account fall below a specified limit, instead of levying a penalty, funds from your FD will be transferred to it while the remaining balance stays intact.
Competitive interest rates
IndusInd Bank offers competitive interest rates on its fixed deposits. In fact, the bank says customers can earn up to 6.5% on their investments! What’s more, senior citizens enjoy a higher interest rate compared to other customers. This interest is paid either to your savings account or your current account. You can choose to receive your interest amount on a monthly, quarterly, half-yearly or yearly basis. Else, you can receive the total amount at the FD’s maturity.
If you are unsure of how much interest you will receive on your fixed deposit scheme, you can easily calculate it using the online IndusInd Bank FD calculator. Just enter your principal amount and tenure period, and the calculator tells you what your corpus will look like on maturity.
Investing is easy
Now, you can easily open a fixed deposit online in IndusInd Bank from the comfort of your home or office. The online fixed deposits also enable customers to pull funds from other bank accounts, choose their desired tenure, amount and maturity instructions. Depending on your investment goals, you can begin investing in the bank’s FD with a principal amount of just Rs. 10,000. Besides this, the FD also offers tax saver deposits up to Rs. 1.5 lakhs. You can hold multiple fixed deposits with individual nominees and partially withdraw the funds in case of an emergency. The FD also allows auto-renewal, so you don’t have to worry about reinvestment. UniCredit to Pick Andrea Orcel as New CEO
How to apply for an IndusInd Bank Fixed Deposit?
There are multiple ways to apply for an IndusInd Bank Fixed Deposit:
Offline application
Visit your nearest IndusInd Bank branch and carry a copy of your identity proof and address proof. Identity proof documents could be your Aadhaar, PAN card, driving license, voter ID, etc. Your address proof may include your passport, telephone bill, electricity bill, or bank statement.
If you already have a savings account with the bank, all you need to do is fill a simple application form. An IndusInd Bank official will guide you through the whole process.
Online application process
There are two ways you open the FD online if you are an existing IndusInd Bank customer – internet banking and mobile banking.
Internet Banking: Login to the net banking portal with your IndusInd Bank ID and password. Then click on the ‘Create Fixed Deposit’ option. Fill up the online application form. Once you submit this, the amount will be transferred from your savings account.
Mobile Banking: Login to IndusMobile with your mobile banking details. Click on ‘Open FD’ and fill out the application form. Choose and confirm the principal amount and tenure. The amount will then be transferred from your savings account.
If you are not an existing customer, follow these steps to instantly open your online fixed deposit –
- Visit the website and fill the online application form
- Choose your preferred FD scheme and authenticate your identity
- On completing your application, transfer funds from any other bank account
Parting thoughts
IndusInd Bank Fixed Deposit offers attractive interest rates and a guaranteed return on investment. With an easy application process, flexible tenures, and a host of benefits, it is an excellent option for a low-risk, safe investment scheme. You can start by using the IndusInd Bank FD calculator available on the website.