IndusInd Bank Recurring Deposit Rate

IndusInd Bank Recurring Deposit Schemes

IndusInd Bank offers you a recurring deposit investment, which motivates you to save regularly. You can make your deposits by visiting the branch and depositing the money yourself. You can use facilities such as net banking and ECS to deposit the money directly into your recurring deposit account every month.

Features of IndusInd Bank Regular Recurring Deposit

• Flexible mode of deposit
• Low minimum opening balance of INR 500
• Deposit tenures from 12 to 120 months
• Premature withdrawals are allowed subject to deduction of penalty
• Nomination facility available
• TDS is applicable on interest earned from the recurring deposit account

Value Added Recurring Deposit

IndusInd Bank also offers a value-added service with recurring deposits called the Holiday Saving Plan. Under this plan, the individual selects a holiday destination for the coming year. Once the holiday is finalized, the investor opens a recurring deposit with IndusInd Bank thereby paying for the holiday in advance instalments. The proceeds of the recurring deposit will be channelled to fund the holiday. This scheme is being offered in collaboration with Thomas Cook.

Benefits of IndusInd Bank Regular Recurring Deposit

• Interest rate earned on the recurring deposit account is equivalent to that of Fixed Deposit. A fixed deposit account gives you higher interest rates compared to most accounts.
• It allows you to make regular deposits instead of a lump sum amount.
• It ensures that risk exposure of your investment is minimal.
• There are a number of tenure plans to choose from.
• It is the best form of organized systematic saving.

IndusInd Bank Recurring Deposit Interest Rates

Here are the interest rates offered by IndusInd Bank effective from 05-10-2018. Please note that these rates are subject to change at any time at the sole discretion of the bank.

IndusInd Bank Senior Citizen Recurring Deposit Interest Rates

The interest rates of senior citizens are higher by 0.5%. These interest rates have been approved by the IndusInd Bank. Once again, they are subject to change at any time.

IndusInd Bank Recurring Deposit Calculator

The IndusInd Bank’s recurring deposit calculator helps you to calculate your interests and the amount earned on your maturity account. IndusInd Bank has made the calculator simple and easily accessible. To use the calculator, simply input your details e.g. the recurring deposit opening date or the monthly investment date, the amount you wish to deposit each month and the tenure. The calculator automatically gives you instant information about the maturity amount you will get at maturity.

Advantages of opening a Recurring Deposit account

• You receive more interest compared to general savings account. Unlike using the average savings account, a recurring deposit account gives you almost double the interest gain you receive on a savings account.
• You will be eligible to loans/overdrafts facility.
• You get flexible tenure plans at affordable prices. A recurring deposit account is a suitable option for the average salaried individual.
• Opening a recurring deposit account requires a minimal amount of INR 500.
• It makes it convenient for you to deposit small amounts of money on regular basis.

IndusInd Bank Recurring Deposit : FAQs