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Updated 12 Jan 2024
Navigating the golden years of retirement demands prudent financial planning, with Fixed Deposits (FDs) emerging as a favored choice for many senior citizens. IndusInd Bank, recognizing the distinct needs of this age group, offers tailored FD rates for them. With an combination of safety, higher returns, and reliability, these FDs become a cornerstone in ensuring financial stability.
This blog delves into the Senior Citizen FD Rates offered by IndusInd Bank, providing insights to help you make an informed decision. Whether you're a senior citizen or assisting an elderly loved one, this guide aims to simplify your banking journey. Dive in to learn more!
IndusInd Bank FD Rates for Deposits Less than ₹ 2 crore: (Premature withdrawal allowed)
| Tenure | Interest Rate For Senior Citizens % p.a |
|---|---|
| 7 days to 14 days | 4.25% |
| 15 days to 30 days | 4.25% |
| 31 days to 45 days | 4.5% |
| 46 days to 60 days | 5% |
| 61 days to 90 days | 5.35% |
| 91 days to 120 days | 5.5% |
| 121 days to 180 days | 5.75% |
| 181 days to 210 days | 6.6% |
| 211 days to 269 days | 6.85% |
| 270 days to 354 days | 7.1% |
| 355 days to 364 days | 7.1% |
| 1 Year to below 1 Year 6 Months | 8.25% |
| 1 Year 6 Months to below 1 Year 7 Months | 8.25% |
| 1 Year 7 months up to 2 Years | 8.25% |
| Above 2 Years up to 2 Years 1 Month | 8% |
| Above 2 Years 1 Month to below 2 years 6 Months | 8% |
| 2 years 6 Months to below 2 years 9 Months | 8% |
| 2 years 9 Months to 3 years 3 months | 8% |
| Above 3 years 3 months to below 61 month | 8% |
| 61 month and above | 7.75% |
| Indus Tax Saver Scheme (5 years) | 8% |
IndusInd Bank FD Rates for Deposits ₹ 2 crore to less than ₹ 5 crore - Premature Withdrawal Allowed
| Tenure | Interest Rate For Senior Citizens p.a |
|---|---|
| 7 days to 14 days | 5.55% |
| 15 days to 30 days | 5.65% |
| 31 days to 45 days | 6.15% |
| 46 days to 60 days | 6.4% |
| 61 days to 90 days | 6.9% |
| 91 days to 120 days | 7.4% |
| 121 days to 180 days | 7.55% |
| 181 days to 210 days | 7.65% |
| 211 days to 269 days | 7.65% |
| 270 days or 354 days | 7.75% |
| 355 days or 364 days | 7.75% |
| 1 Year to below 1 Year 6 Months | 8% |
| 1 Year 6 Months to below 1 Year 7 Months | 7.85% |
| 1 Year 7 Months upto 2 Years | 7.85% |
| Above 2 Years up to 2 Years 1 Month | 7.85% |
| Above 2 years 1 month to below 2 years 6 Months | 7.85% |
| 2 years 6 Months to below 2 years 9 Months | 7.85% |
| 2 years 9 Months upto 3 years 3 months | 7.85% |
| Above 3 years 3 month to below 61 month | 7.75% |
| 61 month and above | 7.65% |
| Indus Tax Saver Scheme (5 years) | NA |
IndusInd Bank FD Rates for Deposits of ₹ 1 crore to less than ₹ 5 crore - Premature Withdrawal Not Allowed
| Tenure | Interest Rate For Senior Citizens p.a |
|---|---|
| 7 days to 14 days | 5.55% |
| 15 days to 30 days | 5.65% |
| 31 days to 45 days | 6.25% |
| 46 days to 60 days | 6.5% |
| 61 days to 90 days | 7% |
| 91 days to 120 days | 7.55% |
| 121 days to 180 days | 7.7% |
| 181 days to 210 days | 7.75% |
| 211 days to 269 days | 7.8% |
| 270 days or 354 days | 7.85% |
| 355 days or 364 days | 7.85% |
| 1 Year to below 1 Year 6 Months | 8.25% |
| 1 Year 6 Months to below 1 Year 7 Months | 8% |
| 1 Year 7 Months upto 2 Years | 8% |
| Above 2 Years up to 2 Years 1 Month | 8% |
| Above 2 years 1 month to below 2 years 6 Months | 8% |
| 2 years 6 Months to below 2 years 9 Months | 7.95% |
| 2 years 9 Months upto 3 years 3 months | 7.95% |
| Above 3 years 3 month to below 61 month | 7.85% |
| 61 month and above | 7.75% |
| Indus Tax Saver Scheme (5 years) | NA |
The eligibility criteria for the senior citizen FDs is that they need to be at least or above the age of 60 on the day of opening the FD account. They typically need to be residents to open a senior citizen FD; However, NRIs can also open accounts through NRE and NRO accounts.
The documentation required is similar to that of a normal FD account opening. One metric being essential is your age proof.
Identity Proofs
Address Proof
Age proof is mandatory to avail of a Senior Citizen FD account.
How much extra interest do senior citizens get on FDs at IndusInd Bank?
Typically, senior citizens receive an additional interest rate, which might be around 0.50% more than the regular rates, but it's best to check the current rates with the bank.
What is the age criterion to qualify for senior citizen FD rates at IndusInd Bank?
Generally, individuals aged 60 years and above are classified as senior citizens and are eligible for these special rates.
Are the senior citizen rates applicable for NRE/NRO FDs?
The applicability can vary, but usually, the special rates are for resident senior citizens and might not extend to NRE/NRO FDs.
Disclaimer: Wint Wealth makes no guarantee or warranty on the accuracy of the data provided on this site, the information displayed is subject to change and are provided on an as-is basis. Nothing contained herein is intended to or shall be deemed to be investment advice, implied or otherwise. You are advised to make your own enquiries, consult a professional advisor and verify the information prior to taking any investment decisions. We accept no liability for any loss arising from the use of information contained on this website.
