However, with the changes in other banking products, savings account has also seen a major shift from being minimum balance account to zero balance savings account. Many banks now offer zero balance savings account with high-interest rate which is more in demand as compared to the age-old pattern of keeping a few thousands in bank account to. IndusInd Bank provides you savings account that offers high interest rates. Avail cashback, discounts and more exciting benefits by opening your savings account with us today! IndusInd Bank Savings Account. IndusInd Bank was established in the year 1994, it is headquartered in Mumbai. The bank is considered as the Indian new generation bank. Providing a host of banking services including commercial, transactional and retail, the bank.

1. Which Bank Has Best Savings Account Interest Rate
2. Indusind Bank Fd Interest Rate
3. Is Indusind Bank Safe For Fd

Domestic /NRO/ NRE/Senior Citizen Deposit Rates (all in %)
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w.e.f. December 30th, 2020	< 2 Cr* (Domestic /NRO/NRE deposits)NRE deposit rates applicable only forTenure 1 year 1 day onwards		< 2 Cr* (Senior Citizen)Not applicable for NRO/NRE deposits
Tenure	Rates p.a.(%)	Annualised Yield*	Rates p.a.(%)	Annualised Yield*
7 days to 14 days	3.00	3.00	3.50	3.50
15 days to 30 days	3.00	3.00	3.50	3.50
31 days to 45 days	3.40	3.40	3.90	3.90
46 days to 60 days	3.75	3.75	4.25	4.25
61 days to 90 days	4.00	4.00	4.50	4.50
91 days to 120 days	4.25	4.25	4.75	4.75
121 days to 180 days	4.50	4.53	5.00	5.03
181 days to 210 days	5.25	5.28	5.75	5.79
211 days to 269 days	5.50	5.58	6.00	6.09
270 days or below 1 year	5.75	5.83	6.25	6.35
1 Year to 1 Year 2 Days	6.50	6.61	7.00	7.12
1 Year 3 Days to 1 Year 2 Months	6.50	6.66	7.00	7.19
Above 1 Year 2 Months to below 1 Year 6 Months	6.50	6.71	7.00	7.25
1 Year 6 Months to below 1 Year 7 Months	6.50	6.77	7.00	7.31
1 Year 7 Months to below 2 Years	6.50	6.77	7.00	7.31
2 years to below 2 years 6 Months	6.50	6.88	7.00	7.44
2 years 6 Months to below 2 years 9 Months	6.50	7.05	7.00	7.65
2 years 9 Months to below 3 years	6.50	7.11	7.00	7.71
3 years to below 61 month	6.50	7.36	7.00	8.00
61 month and above	6.25	7.27	6.75	7.95
Indus Tax Saver Scheme (5 years)	6.50	7.61	7.00	8.30

*Interest is compounded quarterly. Annualized yield is effective annual return basis the same.

# Simple interest will be paid on maturity for deposit wherever the tenure is upto 180 days.

Please Note

**Penal interest rate charge of 1% would apply on premature withdrawal. ***Premature withdrawal is not allowed on Non-Callable FDs (FDs where Premature Withdrawal is Not Allowed) for value greater than equal to 1 cr. Non-Callable FDs are allowed only for Non-Individuals. # Simple interest will be paid on maturity for deposit wherever the tenure is upto 180 days. Income more than tax exempted limits earned through interest on FD is tax deductible. In the absence of PAN card, TDS will be deducted at 20%. NRE deposit rates are applicable only for Tenure 1 year 1 day onwards.

Senior Citizens - Additional interest rate on Domestic Term Deposits

*An additional interest rate of 0.50% over and above the card rates is applicable for Term Deposits of Senior citizens (Age 60 years & above) for value below Rs. 2 cr. (Not applicable for NRO/NRE deposits). However, in case the senior citizen opts to place deposits of value greater than or equal to 2 Cr, the benefit of additional interest shall not be available.

FD Rates w.e.f. December 30th, 2020

Maturity Period	2 crore to less than 5 crores- Premature Withdrawal Allowed**		1 crore to less than 5 crores- Premature Withdrawal Not Allowed***
	(Only for Non-Individuals)
Rate	Annualised Yield*	Rate	Annualised Yield*
7 days to 14 days	3.00	3.00	3.00	3.00
15 days to 30 days	3.00	3.00	3.00	3.00
31 days to 45 days	3.25	3.25	3.25	3.25
46 days to 60 days	3.50	3.50	3.60	3.60
61 days to 90 days	3.75	3.75	3.85	3.85
91 days to 120 days	4.00	4.00	4.10	4.10
121 days to 180 days	4.25	4.25	4.35	4.35
181 days to 210 days	5.00	5.03	5.10	5.13
211 days to 269 days	5.25	5.32	5.35	5.42
270 days or below 1 year	5.60	5.68	5.75	5.83
1 Year to 1 Year 2 Days	6.25	6.35	6.35	6.45
1 Year 3 Days to 1 Year 2 Months	6.25	6.40	6.35	6.50
Above 1 Year 2 Months to below 1 Year 6 Months	6.40	6.61	6.50	6.71
1 Year 6 Months to below 1 Year 7 Months	6.40	6.66	6.50	6.77
1 Year 7 Months to below 2 Years	6.40	6.66	6.50	6.77
2 years to below 2 years 6 Months	6.40	6.77	6.50	6.88
2 years 6 Months to below 2 years 9 Months	6.40	6.94	6.50	7.05
2 years 9 Months to below 3 years	6.40	6.99	6.50	7.11
3 years to below 61 month	6.40	7.23	6.50	7.36
61 month and above	6.15	7.14	6.25	7.27
Indus Tax Saver Scheme (5 years)	NA	NA	NA	NA

FCNR / RFC* Deposits - w.e.f. December 1st, 2020

Period	USD	GBP	EUR	JPY	CAD	AUD
1yr < 2 yrs	2.22	1.85	1.48	0.02	2.62	2.00
2 yrs< 3 yrs	2.26	2.00	1.48	0.01	2.50	2.08
3 yrs< 4yrs	2.00	1.55	1.30	2.95	2.45	2.30
4 yrs< 5 yrs	1.75	1.55	1.15	0.01	2.45	2.35
5 yrs	1.70	1.70	1.10	2.96	2.30	2.30

RFC Deposit Rates are same as that applicable for FCNR deposits. However the same are available only in USD, GBP & Euro RFC Savings Rate is the rate applicable for 1Yr < 2 Yrs on FCNR deposits and is available only in USD, GBP & Euro

Which Bank Has Best Savings Account Interest Rate

In case of pre-mature withdrawal of FCNR (B) deposits,

No interest will be payable if the period the FCNR (B) deposit remains in force is less than 1 year. If the deposit has remained in force for more than 1 year, interest will be calculated at the rate applicable for the period the Deposit has actually remained with the Bank less 0.25%. Additionally, in case of pre-mature withdrawal of FCNR (B) deposits, SWAP (conversion) cost will be recovered, basis the prevailing market rates on the date of pre-mature withdrawal, between the FCNR (B) currency and Indian Rupees

In case of premature closure of NRE / FCNR/ RFC Term deposit the interest rate payable will as under:

No interest will be payable if the period the FCNR (B) deposit remains in force is less than 1 year. If the deposit has remained in force for more than 1 year, interest will be calculated at the rate applicable for the period the Deposit has actually remained with the Bank less 1%. Additionally, in case of pre-mature withdrawal of FCNR (B) deposits, SWAP (conversion) cost will be recovered, basis the prevailing market rates on the date of pre-mature withdrawal, between the FCNR (B) currency and Indian Rupees

Method of calculation of interest:

Fixed Deposits – Penal interest rate charge of 1% would apply on premature withdrawal. Premature withdrawal is not allowed on Non-Callable FDs (FDs where Premature Withdrawal is Not Allowed) for value greater than equal to 1 cr. Non-Callable FDs are allowed only for Non-Individuals. Interest on Fixed Deposit can be paid for a period of less than a quarter (monthly interest payout) at the discounted interest rates as per regulatory directives. For example, For 1 year FD, basis current rate (8%), the discounted rate is 7.95% (The formula used is =NOMINAL(EFFECT(8%,4),12), ie 8% being effective rate, 4 being nos of quarter & 12 being nos of months (payments)) In case of High Value Deposit (> 5 crore), the interest rate offered for the particular deposit is only valid for that day for the deposit and only for the particular tenure. In the event of Premature withdrawal before the specified tenure, the offered interest rate applicable will be the Interest rate published on the website for < 2 crore (withdrawable), if the withdrawn amount is < 2 crore else the interest rate applicable would be that of 2 < 5 crore (withdrawable) as published on the Bank's website www.indusind.com on the day of booking of the deposit. # Simple interest will be paid on maturity for deposit wherever the tenure is upto 180 days.

Interest on Fixed Deposit can be paid for a period of less than a quarter (monthly interest payout) at the discounted interest rates as per regulatory directives.

Recurring Deposits Rates w.e.f. December 30th, 2020

Indusind Bank Fd Interest Rate

Tenure	Interest Rate p.a.(%)	Senior Citizen Rates p.a.(%)
09 Months	5.75	6.25
12 Months	6.50	7.00
15 Months	6.50	7.00
18 Months	6.50	7.00
21 Months	6.50	7.00
24 Months	6.50	7.00
27 Months	6.50	7.00
30 Months	6.50	7.00
33 Months	6.50	7.00
3 years to below 61 month	6.50	7.00
61 month and above	6.25	6.75

Is Indusind Bank Safe For Fd

Tenor of RD is in multiples of month and corresponding rate of FD will be applicable Minimum Value of RD is Rs 500 and thereafter in multiples of 100