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Young Saver Deposit for Child's Secured Future

  • Financial wellbeing starts early. Get assured returns for your child's secured future

  1. Personal
  2. Deposits
  3. Young Saver Deposit

Overview

IndusInd Bank’s young saver deposit encourages saving in children by giving a high return on savings. We do so by linking their savings bank account with the flexi recurring deposit that is opened and operated by the guardian for the minor.

11

Minimum opening balance*

*No upper limit on deposit

6 to 120 months

Minimum tenure**

**Tenure is 6 months to 10 years

Young Saver Deposit Benefits

Invest a fixed amount for the future benefit of a child in the young saver deposit with IndusInd Bank to enjoy:

  • The balance in the savings bank account transferred to a flexi recurring deposit on the last day of every month sparing only Rs 100 in the account.
  • Interest rate: As applicable for term deposits in case of recurring deposit.
  • TDS on interest: As per the current income tax regulations.
  • Deposit tenure: 6 to 120 months
  • Nomination facility: Available
  • Premature closure: Allowed

Please click here for interest rates.

You can open a young saver deposit online. Here’s how:

  1. Click on the Apply Now button on this page.
  2. Fill in your details.
  3. Submit your form.

We will get back to you for further KYC process. Alternately, you can visit a branch and submit the deposit account form.

Eligibility Criteria of Young Saver Deposit

Eligibility
  • IndusInd Bank’s young saver deposit can be opened by a guardian for a minor.
Documentation

The young saver deposit documents include:

  • The application form.
  • Passport-size photo.
  • Identity proof such as passport, Aadhaar, driving license, government ID, senior citizen ID or PAN card.
  • Address proof such as passport, telephone bill, electricity bill, bank statement with cheque.
  • Introduction by an existing IndusInd Bank customer.

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FD Rate FD Rate
FD Rate
Regular Fixed Deposit

up to 7% interest p.a

Senior Citizen

up to 7.75% interest p.a

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