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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
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  • SAVINGS RATES

  • Daily balance upto 5 lac 4 %
  • Daily balance above 5 lac and upto 10 lac 5 %
  • Daily Balance above 10 lac 6 %

  • DEPOSIT RATES

  • 1 year to 1 year 2 months 7.15 %
  • Indus Tax Saver Scheme - 5 years (upto Rs 1.5 lacs) 6.75 %
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