Young Saver Deposit

    IndusInd Bank inculcates savings habit among children with high return on their savings by linking Savings Bank Account with Flexi Recurring Deposit.  Account is being opened and operated by the guardian for the minor.

Features & Benefits

    Balance in Savings Bank account will be transferred to a flexi recurring deposit on the last day of every month, leaving Rs.100/- in SB account

    Opening Balance: Rs. 11/-

    Interest Rate: As applicable to Term deposits in the case of Recurring Deposit

    TDS in Interest: Recurring Deposits are exempted from TDS

    Deposit Tenor: 6 months to 120 months

    Nomination facility: Available

    Premature Closure: Allowed

Best For

    Young Children

Documentation

    • Application form
    • Passport size photograph
    • Proof of Residence
    • Introduction

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