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Young Saver Deposit
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Features & Benefits
IndusInd Bank inculcates savings habit among children with high return on their savings. By linking the Savings Bank Account with Flexi Recurring Deposit which is opened and operated by the guardian for the minor.
Features: Balance in Savings Bank account will be transferred to a Flexi Recurring Deposit on the last day of every month, leaving Rs.100/- in the account.
Opening Balance: Rs. 11/-
Interest Rate: As applicable to term deposits in the case of Recurring Deposit
TDS in Interest: As per current Income Tax regulations
Deposit Tenure: 6 months to 120 months
Nomination facility: Available
Premature Closure: Allowed
How to Apply
You can open an Young Saver Deposit online. Click on the Apply Now button on this page, fill in your details and submit it. We will get back to you for further KYC process. Alternately, you can visit a branch and submit the Deposit Account form.
Documentation
- Application form
- Passport size photograph
- Proof of residence
- Introduction letter by any IndusInd Bank existing customer
Average rating based on 846 ratings
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SAVINGS RATES
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Daily balance upto Rs.10 Lakhs 4 %
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Daily balance above Rs.10 Lakhs and upto Rs.1 Crore 5 %
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Daily balance above Rs.1 Crore and upto Rs 10 Cr 5.5 %
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Daily balance above Rs.10 Crore 6 %
DEPOSIT RATES
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1 year to 1 year 2 months 7.65 %
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Indus Tax Saver Scheme - 5 years (upto Rs 1.5 lacs) 7 %
Enjoy many advantages of Mnds over other forms and avenues of investing
The purest form of gold at attractive prices
Aviva Life Insurance Company India Limited
Enjoy a peace of mind while you relax and see your hard earned money work for you
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