SFlexible options to pay through EMI, Reward points or Credit.
This first-of-its-kind card in India brings together a variety of benefits that treat you to the very best of a Credit and Debit Card.
In addition to competitive savings account interest rate, enjoy exclusive discounts and offers across top brands, feature-rich debit cards, and seamless digital banking services. The best part? You can open a savings account and enjoy attractive bank account interest rate in just 4 easy steps!
Click here to apply now!
Understanding the prevailing interest rates on savings accounts can help you with effective financial management. As of August 21st, 2024, the rates offered on IndusInd Bank’s Savings Accounts in India vary based on the daily balance maintained, catering to domestic and Non-Resident Individuals (NRO/NRE). Here's a breakdown of the rates:
Savings Bank Account Interest Rates Domestic/Non Resident (NRO/NRE)*
Daily Account Balance | Interest Rate (Per Annum) |
---|---|
Daily balance up to ₹1 Lakh |
3.00% |
Daily balance above ₹1 Lakh up to ₹5 Lakhs |
5.00% |
Daily balance above ₹5 Lakh up to ₹10 Lakhs |
6.00% |
Daily balance above ₹10 Lakhs up to ₹25 Lakhs |
6.75% |
Daily balance above ₹25 Lakhs up to ₹5 Crores |
6.75% |
Daily balance above ₹5 Crores up to ₹50 Crores |
6.75%* |
Daily balance above ₹50 Crores up to ₹100 Crores |
6.75%* |
*Interest rates are applicable as flat rates on the entire balance maintained.
Note: Contact the branch or RM for rates on amounts exceeding ₹100 Crores.
Stay informed about the interest rates to make strategic decisions regarding your savings allocations, ensuring the funds generate maximum returns
Our competitive savings account interest rates can help your money grow with time. But that’s not all. IndusInd Bank offers a feature-rich Savings Account to make your entire banking experience convenient and rewarding:
Opening an IndusInd Bank Savings Account is easy and 100% paperless. Simply, pick an account number of your choice, enter your details, add funds to your account, and complete your virtual KYC verification. Your funds are ready to grow with our savings account interest rate!
Personalise your banking experience by choosing your preferred account number with the ‘My Account My Number’ feature. It allows you to select an account number that holds significance for you so that it is easier to remember and manage your account.
Enjoy a world of exclusive benefits and privileges with your IndusInd Bank Savings Account. Get access to discount and offers across a wide range of categories, including shopping, dining, entertainment, and more.
Manage your finances seamlessly with our intuitive and secure digital banking platforms. Enjoy 24/7 access to your account, transfer funds, pay bills, and much more, all at your fingertips.
Savings account interest rates are calculated by multiplying the daily balance in the account by the applicable annual interest rate and then dividing by the number of days in the year. The resulting amount represents the interest earned.
The interest on savings bank accounts can be either fixed or variable, depending on the bank's policies and the type of account. Some savings accounts offer fixed account interest rates for a specified period. In contrast, others may have variable rates that can change over time based on market conditions and the bank's discretion.
The frequency of interest compounding on a savings account varies depending on the bank and the account type. Typically, savings account interest is compounded either monthly, quarterly, or annually. Some accounts may compound interest more frequently, leading to faster growth of savings. You can check the account terms to know more.
You can maximise the interest earned on your savings account by:
● Choosing an account with competitive savings account interest rates
● Making larger deposits to qualify for higher interest tiers
● Setting up automatic transfers to consistently add to your savings
A savings account offers several benefits, including a safe place to store money, liquidity for easy access to funds, and potential interest earnings to help grow savings over time. Interest on savings bank accounts is an easy side-income source and hence, it is essential to compare the rates offered by various banks before choosing one.