Features & Benefits

Presenting the Indus Young Saver Account with a host of unmatched features for your children

Open the account with a minimum deposit of Rs.11/- only. This account can be opened as a free add-on account with a regular IndusInd Savings account. This account is an ideal combination of a Savings Bank Account and Flexi Recurring Deposit.

Flexi Recurring Deposit

• A linked Flexi Recurring Deposit will be opened along with the Indus Young Saver account
• The monthly instalment towards the Recurring Deposit are flexible
• Balance in Savings Bank Account will be transferred to the Flexi Recurring Deposit on the last day of every month, leaving Rs.100/- in SB account
• Tenure of Flexi Recurring Deposit - 6 months to 120 months

Standing Instruction

You can setup Standing Order Instructions from your account to your child’s Young Saver Account and watch his savings grow.

TDS not applicable

TDS is not applicable on the interest earned on the Recurring Deposit.

Eligibility

The Indus Young Saver account can be opened in the minor’s name, either-


• As an “Under Guardian” account, where the parent shall be operating the account
• By the minor himself / herself, if the minor’s age is 12 years or more

Balance requirement

Average Monthly Balance to be maintained

Zero Balance

Balance Non-Maintenance charges

Not Applicable

Documentation

The following documents will be needed to open the Indus Young Saver account

• An Account Opening Form Duly Filled
• One Passport Size Colour Photograph
• PAN card or Form 60 / 61 where PAN card is not available
• Birth certificate of the minor
• Introduction by the parent/ guardian
• Any one document from each of the following groups:
  Identity Proof
  Passport or Driving License or Voter’s ID or Photo Debit / Credit Card
  Address Proof
  Passport or Driving License or Voter’s ID or Utility Bill (not older than 3 months)
The above list is indicative. For a more detailed list, please contact your nearest branch or call our contact center.