IndusInd Bank offers three major Recurring Deposit schemes, namely, Recurring Deposit, Flexi Recurring Deposit and Young Saver Deposit. The bank helps its customers to save and invest cumulatively through these schemes and allows them to invest money in the RD account each month for earning interest through these deposits.
People can invest a minimum amount of 500 rupees with a Regular Deposit Account for a tenure ranging from 1-10 years. In a Flexi RD account, people may invest a minimum amount of 1000 rupees where the tenure varies from 1-10 years. Young Saver Deposit scheme is meant for inculcating the habit of savings amongst children. Guardians of these children may open this account and operate it on behalf of by linking their account with the child's account. In a Young Saver account, the minimum deposit that can be made is 11 rupees and the minimum tenure is 6 months.
|Tenure||Interest Rate P.A.(%)|
|3 years - less than 5years||6.5|
|5 years - 10years||6.5|
The customers have an option of opening a short-term RD account with IndusInd Bank. They can invest money in their IndusInd RD account for a tenure ranging from 6 months-2 years. With the Flexi RD scheme and Regular RD scheme, the customers may choose a tenure of 1 year, 2 years or 9 months and for a Young Saver RD account, the depositor can choose a tenure of 6 months, 9 months or 2 years.
For a short-term RD, the interest rate applicable ranges between 7.5%-7.75% per annum and the interest rate applicable on a deposit term of 6 months is 7%
IndusInd Bank customers also have the option of opening medium and long-term RD account. The medium-term RD account can be opened for a tenure of 3-5 years and the long-term deposit account can be opened for a tenure ranging from 5-10 years.
The bank offers an interest rate of 7.5% for a medium-term RD scheme and it offers an interest rate of 7.25% per annum for a long-term RD scheme.
Senior citizens are provided with attractive rates of interest from IndusInd Bank when they open Flexi RD account or Regular RD account with IndusInd Bank. Senior customers of IndusInd Bank are offered the interest rate of 8%-8.25% for short-term deposits, 8% per annum for medium-term deposits and 7.75% for long-term deposits.