Issued by renowned banks and financial institutions, a credit card enables the cardholder to purchase some products or avail of some services on credit. Owning a credit card enables people to borrow funds from the bank or financial institution, with a promise that they will pay off the amount within a specific time. The cardholder doesn’t need to pay any interest if they repay the amount within the specified interest-free period. The cards have a pre-set borrowing limit, which indicates the maximum amount of money a person can spend using the credit card. IndusInd Bank has a superior credit card range to meet the requirements of their customers. Do a credit card comparison and select the best credit card that matches your requirements.
A credit card when used wisely can help you manage your finances with ease. It enables you to borrow a certain sum of money, which can be repaid by you later in instalments. An interest is charged on the amount of money that you borrow in case you don’t repay the amount by the payment due date. Interest rates on your credit card may vary depending on the type of credit card you are using and the bank that has issued your credit card.
Using a Credit Card not only provides financial assistance but also has a number of benefits depending on the card type. Some of them are mentioned below:
- Earn attractive reward points and cashback
- Enhances your credit rating
- Get frequent flyer miles
- Worldwide acceptance
Some basic credit card features are as follows:
- Credit Card types – A credit card issuer may issue several types of credit cards.
- Credit Card balance – The total amount you owe to the bank.
- Credit limit – The maximum balance you can have on the credit card at any time.
- Grace Period – The time you have to pay your full balance before a finance charge is applied.
- Annual Percentage Rate (APR) – The interest rate charged on any debt that is carried out after the grace period.
At IndusInd Bank, we understand that every customer has a different financial need. Considering this, we have designed the best credit card range that comes with endless benefits and privileges to meet the specific needs of our customers. The credit card range offered by IndusInd Bank maximises everything starting from rewards, cashbacks, entertainment deals, dining offers, and more. You can easily apply for a credit card online and select a card that best matches your requirements.
There are some conditions to determine your eligibility for a credit card:
To apply, you must be at least 18 years old. On the other hand, the upper-limit age is 75 years.
- You must have a regular income and provide proof of the same. The amount of income needed varies based on the requested credit card type.
- A solid credit history demonstrates your ability to responsibly manage your credit.
- You must be an Indian resident apply for a credit card in India.
Apply for credit card with IndusInd Bank in 3 easy steps. All you need to do is visit the bank’s website https://www.indusind.com/in/en/personal/cards/credit-card.html and submit your credit card application. Alternatively, you can call the 24-hour helpline number of IndusInd Bank, which is 1860 267 7777 and apply for a credit card. Also, when applying, you must do a credit card comparison to choose the best credit card that suits your requirement.
Getting your own instant credit card is easy. You need to follow the steps mentioned below to apply for credit card online:
- Visit https://induseasycredit.indusind.com/customer/credit-card/new-lead and provide few basic details like your mobile number, PAN card number etc. to get started.
- Verify your address details
- Choose a card that best matches your requirements
- Complete your application with an instant video KYC
- Sit back & relax, the card will be delivered to your address within 24-48 hours.
To apply for credit card online, you need to keep the below documents handy:
- Aadhaar number
- PAN
- Proof of residence if the current address is not same as the address in Aadhaar
- 6 months’ Bank statements (optional)
You can call our Helpline Number 1860 267 7777 to check the status of IndusInd Bank credit card application. The bank will send an SMS to your registered cell phone number as soon as your application is processed.
Your card comes pre-activated for PIN based domestic transactions. To start using the card instantly, you can set your credit Card Pin through the Mobile Banking App (IndusMobile) or Net Banking (IndusNet). You can also manage your transaction preferences and set transaction limits basis your usage requirement on IndusInd Service Portal by visiting https://pay.indusind.com/crd/#/login
Reward points are a form of incentive offered by credit card issuers, earned by cardholders through eligible transactions. Accumulated over time, reward points reflect the cardholder's spending activity. These points can be redeemed for various benefits, such as airline miles, brand vouchers and gift cards, merchandise or even direct cash credit to card account depending on the credit card's rewards program.
IndusInd Bank credit card holders can call the Phone Banking service to place a reward points redemption request. They can also redeem their reward points online on the official website of Indus Moments by visiting www.indusmoments.com. IndusInd card holders also get to enjoy evergreen reward points where they can redeem the points anytime as per their convenience without worrying about the expiry of accumulated reward points.
You can review your IndusInd Bank credit card reward points summary by referring to your most recent credit card statement. You can also check your reward points balance on Net Banking (IndusNet) and Mobile Banking App (IndusMobile).
IndusInd Bank credit card holders can call the Phone Banking service to place a reward points redemption request. They can also redeem their reward points online on the official website of Indus Moments by visiting www.indusmoments.com.
The interest on the outstanding amount is calculated on a daily basis. If the total amount is not paid off by the due date, interest will be levied on the total amount. Interest is also levied on accrued interest.An interest of 3.83% per month shall be levied (46% per annum).
Please note: Interest rates on your credit card may vary across different types of Credit Cards.
The cash advance fee or interest rate on credit card cash withdrawals may vary depending on the amount. Interest will be levied on all cash advances from the date of the transaction until the date of payment.Please refer to Schedule of chargesto know the cash withdrawal charges applicable on your IndusInd Bank Credit Card.
All the purchases don’t attract an interest charge. If there are no out-standings on the credit card, cardholders have a grace period of up to 50 days within which they can make the payment for retail purchases. However, for cash withdrawal transactions, there is an interest charge from the date of the transaction till the payment date. Additionally, cardholders are also required to pay a transaction fee for cash withdrawal transactions.
The limit is ₹15,000/- per transaction.
Interest charges are levied if Total Amount Due is not paid off by due date and Late Payment charges are applicable if the minimum due amount is not paid by the due date. Over limit charges are applicable if the total outstanding dues on the credit card exceeds the assigned credit limit.
The grace period is only available on retail transactions if there is no outstanding amount payable on the Credit Card. In case your previous credit card bill is due, all fresh purchases will attract interest from the date of purchase.
Withdrawing cash using a credit card is a simple process. Go to a nearby ATM, insert your credit card into the ATM, and then follow the on-screen instructions.
You are required to pay an additional fee when you use a credit card to make a cash withdrawal. Bank charges 2.5% of the amount you withdraw using a credit card as a credit card cash advance fee. Credit card cash advance fee is subject to change based on periodic review by IndusInd Bank. Since cash withdrawal transactions attract interest charge from the date of transaction, it is recommended to settle the same at the earliest possible to minimize the outgo towards interest charges.
Paying your credit card bill is easy with IndusInd Bank. There are different payment options available and you can choose any one of the options to make the payment.
- Pay the bill online from the comfort of your home or office
- Use cheques or draft drop boxes at multiple drop box locations
- Pay using NEFT facility in case you have a savings account with any other bank other than IndusInd Bank
- Pay using Swift transfer from your local bank branch abroad
- Use the auto-debit facility if you have an account in IndusInd Bank. The auto-debit option will authorise the bank to deduct the amount from your account
- Visa money transfer can be used by IndusInd Bank Visa cardholders to transfer funds online from their bank account
- Fill the NACH form to authorise IndusInd Bank to deduct the money from your bank account
Yes, you can make part-payment or pay the minimum amount that’s due from your credit card bill to avoid late payment fees.
You can block your IndusInd Bank credit card in four ways: using IVR/Phone Banking, Net Banking, Mobile Banking and SMS. Follow the below-given steps to block your IndusInd Bank credit card:
Using IVR/Phone Banking
- Call 18602677777 to block your credit card on the IVR. You can also talk to our Phone Banking Officer to block your credit card.
Using IndusNet
- Login to IndusNet and click on the Service Requests tab.
- Next, select Credit Card Requests
- Click the Credit Card Blocking Request button.
- Select the credit card you want to block, enter the reason for blocking, and press Submit.
Using IndusMobile App
- Log into the app.
- Select the Service Request tab from the credit card details screen.
- Choose the credit card you wish to block.
- Choose Card Related Requests and continue.
- Click block credit card.
Using SMS
To immediately block your credit card, SMS BLOCK <space> <XXXX> last 4 digits of the Credit Card to 5676757 from your registered mobile number.
In case you lose your credit card, please inform IndusInd Bank immediately. You can report the loss of your credit card via Phone Banking. You can also block your credit card via SMS or block and replace your credit card on the IndusMobile app as well.
The EMV Chip and PIN Credit Card by IndusInd Bank provides enhanced security to the users during domestic and international transactions. It also provides additional safety against skimming or counterfeit fraud.
You can use your IndusInd Bank credit card to fulfil all your needs including:
- Buying home appliances and electronics
- Buying groceries
- Shopping for clothes and accessories
- Booking movie tickets
- Debt consolidation
- Paying utility bills
- Booking hotel rooms and flight tickets
- Paying food bills etc.
You can request IndusInd Bank to increase your credit card limit. The bank will review your credit card history to determine whether you qualify for an increase in your credit card limit. You must make on-time payments, keep a low credit utilisation ratio, show proof of an increase in income, and maintain a high credit score to increase the likelihood that your application will be approved.
The number of credit cards you should have entirely depends on your financial status. You need to make sure you have enough money each month to pay off the entire sum on each credit card. Having two or three credit cards with exclusive features can give you access to a higher credit limit and more perks and benefits in the form of rewards and cashback.
People who have several credit cards and make all their payments on time will be able to build a very good credit score. It will increase their creditworthiness and give them access to more credit opportunities.
A credit card score between 580 and 669 is considered fair, 670 and 739 as good, 740 and 799 as very good, and 800 and above as excellent. A higher credit score demonstrates a history of responsible financial behaviour, giving potential creditors and lenders more confidence when evaluating a credit request.
In case of any queries or assistance, you can call us on our 24-hour customer care number - 18602677777 or write to us at premium.care@indusind.com
You can cancel your Credit Card by calling our helpline 18602677777 or writing to us at premium.care@indusind.com. Please ensure there is no outstanding balance to be paid before you contact the Bank for card cancellation.
You can call us on our 24-hour customer care number - 18602677777 or write to us at premium.care@indusind.com
Reward points are a form of incentive offered by credit card issuers, earned by cardholders through eligible transactions. Accumulated over time, reward points reflect the cardholder's spending activity. These points can be redeemed for various benefits, such as airline miles, brand vouchers and gift cards, merchandise or even direct cash credit to card account depending on the credit card's rewards program.
IndusInd Bank credit card holders can call the Phone Banking service to place a reward points redemption request. They can also redeem their reward points online on the official website of Indus Moments by visiting www.indusmoments.com. IndusInd card holders also get to enjoy evergreen reward points where they can redeem the points anytime as per their convenience without worrying about the expiry of accumulated reward points.
The credit card balance refers to the total amount of money owed by a cardholder to the credit card issuer. It encompasses all the transactions, purchases, fees, and interest charges incurred during a specific billing cycle. The balance is a dynamic figure that fluctuates based on the cardholder's spending and payment activities. It is crucial for cardholders to manage their credit card balance effectively, either by paying the outstanding in full each month to avoid interest charges or by making at least the minimum payment to avoid late payment fees and maintain a positive credit standing. Understanding and keeping track of the credit card balance is essential for maintaining financial responsibility and preventing the accumulation of excessive debt.
A credit card statement is a detailed record of a cardholder's financial activity within a specific billing cycle. Issued by the credit card company on a monthly basis, this statement provides a comprehensive overview of transactions made using the credit card during that period. It includes details such as the date of each transaction, the merchant involved, the amount spent, and any applicable fees or interest charges. Additionally, the statement outlines the total outstanding balance, minimum payment due, and the payment due date. Cardholders can use the credit card statement to track their spending, review charges for accuracy, and understand the overall financial status of their credit card account. It serves as a crucial tool for financial management and responsible credit card use.
Unlock a world of convenience and savings with IndusInd Bank's lifetime free credit cards. Enjoy the ease of cashless transactions, enhanced security features, and the flexibility that our feature-rich cards offer. Here is the IndusInd Bank lifetime free credit card list, with each card tailored to suit your lifestyle and spending habits:
- Legend credit card
- Platinum RuPay credit Card
- Platinum Visa credit card
- Platinum Aura Edge credit card
Our competitive interest rates and attractive offers ensure you get the most value for your daily spending. From reward points that never expire to fuel surcharge waivers and exclusive deals across dining, travel, and shopping – experience financial freedom like never before. Apply online today and step into a lifetime of rewards and savings with IndusInd Bank.
It is the new generation Credit Card from IndusInd Bank which allows the users to make faster payments at merchant locations with just a Tap where contactless payment is accepted. It can also be used for standard shopping, online transactions and at ATMs.
Anywhere that the Contactless payment PoS Machine is available, the card can be used to tap and pay. If a contactless PoS machine is not available, the Contactless card can still be used for swipe or dip transactions. If the PoS machine has a contactless symbol displayed on it, then it is enabled for contactless payments
Will I receive a notification each time a Transaction is done on my IndusInd Bank Nexxt Credit Card?
Yes, Like a Standard Credit Card the customer will receive an SMS and an e-mail notification each time a transaction takes place.
The Nexxt Credit Card gives greater flexibility to the Customer to pay using any of the following options at the point of sale:
- Pay in full
- Pay with reward points
- Pay with EMI (pay in equal instalments of 6,12,18 and 24 months)
The card plastic has buttons for payment options. When the button is pressed, the LED associated with the pressed button illuminates to indicate the payment selection.
Please note, the option of pay using reward points or EMI is not enabled for online transactions.
Please note, selection of payment option needs to be made before inserting your card in the POS machine slot. We will be unable to change the payment option once the transaction is authorised.
You can check the accrued Reward Points on your IndusInd Bank Nexxt Credit Card through any of the following options:
- IndusInd Bank Mobile banking app, IndusMobile
- Log on to the Net banking portal, IndusNet
- SMS RBALE (space) XXXX to 5676757 where XXXX denotes the last 4 digits of your active Credit Card number.
- Call IndusInd Bank Phone Banking helpline number 18602677777
The first EMI shall be billed on the date on which Purchase Transaction is converted into EMI (conversion date). All billing of EMIs in the subsequent months shall be on the same date as the conversion date for that month.
When you press a button, light will emit from the corresponding light indicator to confirm your selection.
The Pay by Rewards or Pay by EMI request will be processed within 2 working days after the transaction is settled. Once the request is processed or declined, you will receive an SMS on your registered mobile number.
Yes, Whenever you press a button, the corresponding indicator will initially emit light constantly, and then blink periodically, for a total of up to 6 minutes. During this 6 minute period, you may swipe/insert/tap your card or hand your card to a cashier.
Please note, you can opt for 'Pay by Rewards' for a transaction only by pressing the rewards button before incurring a transaction at the store. However, you can redeem your accumulated rewards points to adjust the outstanding on your Credit Card account as per the terms of cash credit reward redemption.
You can opt for EMI conversion through the helpline number or IndusMobile/IndusNet to convert a transaction into EMI,if you have not selected 'Pay by EMI' option. Please note, your request will be processed subject to eligibility & approval. Final approval for the EMI shall be at the sole discretion of IndusInd Bank.
No. The Pay by Rewards or EMI is not applicable on cash withdrawal transactions.
No, there is no restrictions on the number of 'Pay by EMI' transactions.
Yes, The Pay by EMI option using the EMI button is available for transactions above INR 2,000.
JetPrivilege is now InterMiles. At InterMiles, we believe that every journey deserves to be rewarding – whether it’s the purpose it fulfils, the experiences it brings or the memories it leaves you with. That’s why, we went ahead and created India’s most holistic travel and lifestyle brand, that rewards you at every step.
Yes, JetPrivilege had a Tiered Program, the Tiered Program had the following Tiers- Blue Plus, Silver, Gold and Platinum. The members achieved/retained their Tiers basis the Tier Points and Tier Miles accumulated over a period of 12,18 and 24 months.
The InterMiles program is now simpler with only InterMiles as a measure of attaining/retaining a Tier. The InterMiles program has 4 Tiers Red, Silver, Gold and Platinum.
All JetPrivilege members are by default InterMiles member. In-case you are not a member, please log on to intermiles.com
Your JetPrivilege Membership number is now InterMiles number. You can quote this number and earn InterMiles for all eligible spends, activities on intermiles.com and on InterMiles Partners. You will continue earning your rewards in the form of InterMiles using the same card and on the same membership number.
YES! Your credit cards are still active. You will now earn InterMiles as per your card’s existing earning proposition for every eligible activity.
The Jet Airways benefits have been replaced with InterMiles and Etihad benefits, which spread across Flights and Hotels. You can check these benefits for your respective cards
Yes! You can continue to use your credit card as you were earlier. You can make the most of your credit card by using it on intermiles.com, where you can earn get accelerated InterMiles on *expand categories and partners*
We are working on replacing your existing JetPrivilege/Jet Airways co-brand Credit Card and you will soon be receiving your new card. You will soon receive an SMS(from the Bank) with more details. *Your existing Credit Card is active and good enough to carry out transactions. In due course, Bank will inform you on how and when you will receive your new Cards*
No, if you have already paid fees this year, you need not pay fees. What’s more, as a feepaying customer you will enjoy the new InterMiles and Etihad benefits.
No, your accrued JPMiles are safe and are now InterMiles. The validity of InterMiles is the same as JPMiles.
You can transact using your credit card wherever it is accepted and activate it. In-case the transaction fails, please contact the bank to activate the card.
Oops! If you have discontinued the card, you will need to re-apply for a new card. Please check the Cards section on intermiles.com, we will soon start issuing InterMiles Credit Cards. You can then apply for a new InterMiles Credit Card
Please contact IndusInd Bank for further details
Yes! By spending on your respective co-brand you co-brand you can achieve a Tier. What’s More! The bonus InterMiles you earn also contribute to your Tier achievement and retainment.
InterMiles= Base InterMiles (Basis accrual ratio) + Bonus InterMiles (Joining/Renewal + Other Bonuses)
You can utilize all your benefits on intermiles.com across any airline or Hotel available on intermiles.com.
Our banking partners are working towards issuing the new InterMiles credit cards. Please check the Cards section on intermiles.com, we will soon start issuing InterMiles credit cards or call the bank for more details.
Basis your card variant, we credited JPMiles (now InterMiles) to your account. Please check your InterMiles account statement for the same. For any discrepancy regarding the same, please write to premium.care@indusind.com
If you have paid your fees post 14th November 2019, your benefit will be in the InterMiles Wallet. If these are not visible there, please call +91 842289 3333 or write to Intermiles on memberservices@intermiles.com memberservices@intermiles.com.
If you have paid fees prior to 14th November 2019, we have credited JPMiles (now InterMiles) to your account. Please check your InterMiles account statement for the same. For any discrepancy regarding the same, please write to premium.care@indusind.com
Your credit cards now come packed with benefits like
Joining/Renewal Benefits:
- Discounts on Domestic Flights booked via intermiles.com
- Discount on Hotel Stays for bookings made on intermiles.com*
Ongoing Benefits:
- Discount on Etihad Airways Economy class bookings made on intermiles.com*
- Discount on Etihad Airways Business class bookings made on intermiles.com*
- 2.5 X Accelerated earnings for Etihad Flight bookings made on intermiles.com*
- 2X Accelerated earnings for all Flight bookings made on intermiles.com
- 2X Accelerated earnings for all Hotels bookings made on intermiles.com
Limited Time Benefits:
- Redemption Miles back for International flight bookings made on intermiles.com*
Don’t forget, You still get your joining/renewal InterMiles on paying your annual fees!
JetPrivilege is now InterMiles. At InterMiles, we believe that every journey deserves to be rewarding – whether it’s the purpose it fulfils, the experiences it brings or the memories it leaves you with. That’s why, we went ahead and created India’s most holistic travel and lifestyle brand, that rewards you at every step.
Yes, JetPrivilege had a Tiered Program, the Tiered Program had the following Tiers- Blue Plus, Silver, Gold and Platinum. The members achieved/retained their Tiers basis the Tier Points and Tier Miles accumulated over a period of 12,18 and 24 months.
The InterMiles program is now simpler with only InterMiles as a measure of attaining/retaining a Tier. The InterMiles program has 4 Tiers Red, Silver, Gold and Platinum.
All JetPrivilege members are by default InterMiles member. In-case you are not a member, please log on to intermiles.com
Your JetPrivilege Membership number is now InterMiles number. You can quote this number and earn InterMiles for all eligible spends, activities on intermiles.com and on InterMiles Partners. You will continue earning your rewards in the form of InterMiles using the same card and on the same membership number.
YES! Your credit cards are still active. You will now earn InterMiles as per your card’s existing earning proposition for every eligible activity.
The Jet Airways benefits have been replaced with InterMiles and Etihad benefits, which spread across Flights and Hotels. You can check these benefits for your respective cards
Yes! You can continue to use your credit card as you were earlier. You can make the most of your credit card by using it on intermiles.com, where you can earn get accelerated InterMiles on *expand categories and partners*
We are working on replacing your existing JetPrivilege/Jet Airways co-brand Credit Card and you will soon be receiving your new card. You will soon receive an SMS(from the Bank) with more details. *Your existing Credit Card is active and good enough to carry out transactions. In due course, Bank will inform you on how and when you will receive your new Cards*
No, if you have already paid fees this year, you need not pay fees. What’s more, as a feepaying customer you will enjoy the new InterMiles and Etihad benefits.
No, your accrued JPMiles are safe and are now InterMiles. The validity of InterMiles is the same as JPMiles.
You can transact using your credit card wherever it is accepted and activate it. In-case the transaction fails, please contact the bank to activate the card.
Oops! If you have discontinued the card, you will need to re-apply for a new card. Please check the Cards section on intermiles.com, we will soon start issuing InterMiles Credit Cards. You can then apply for a new InterMiles Credit Card
Please contact IndusInd Bank for further details
Yes! By spending on your respective co-brand you co-brand you can achieve a Tier. What’s More! The bonus InterMiles you earn also contribute to your Tier achievement and retainment.
InterMiles= Base InterMiles (Basis accrual ratio) + Bonus InterMiles (Joining/Renewal + Other Bonuses)
You can utilize all your benefits on intermiles.com across any airline or Hotel available on intermiles.com.
Our banking partners are working towards issuing the new InterMiles credit cards. Please check the Cards section on intermiles.com, we will soon start issuing InterMiles credit cards or call the bank for more details.
Basis your card variant, we credited JPMiles (now InterMiles) to your account. Please check your InterMiles account statement for the same. For any discrepancy regarding the same, please write to premium.care@indusind.com
If you have paid your fees post 14th November 2019, your benefit will be in the InterMiles Wallet. If these are not visible there, please call +91 842289 3333 on or write to Intermiles on memberservices@intermiles.com.
If you have paid fees prior to 14th November 2019, we have credited JPMiles (now InterMiles) to your account. Please check your InterMiles account statement for the same. For any discrepancy regarding the same, please write to premium.care@indusind.com
Your credit cards now come packed with benefits like
Joining/Renewal Benefits:
- Discounts on Domestic Flights booked via intermiles.com
- Discount on Hotel Stays for bookings made on intermiles.com*
Ongoing Benefits:
- Discount on Etihad Airways Economy class bookings made on intermiles.com*
- Discount on Etihad Airways Business class bookings made on intermiles.com*
- 2.5 X Accelerated earnings for Etihad Flight bookings made on intermiles.com*
- 2X Accelerated earnings for all Flight bookings made on intermiles.com
- 2X Accelerated earnings for all Hotels bookings made on intermiles.com
Limited Time Benefits:
- Redemption Miles back for International flight bookings made on intermiles.com*
Don’t forget, You still get your joining/renewal InterMiles on paying your annual fees!
JetPrivilege is now InterMiles. At InterMiles, we believe that every journey deserves to be rewarding – whether it’s the purpose it fulfils, the experiences it brings or the memories it leaves you with. That’s why, we went ahead and created India’s most holistic travel and lifestyle brand, that rewards you at every step.
Yes, JetPrivilege had a Tiered Program, the Tiered Program had the following Tiers- Blue Plus, Silver, Gold and Platinum. The members achieved/retained their Tiers basis the Tier Points and Tier Miles accumulated over a period of 12,18 and 24 months.
The InterMiles program is now simpler with only InterMiles as a measure of attaining/retaining a Tier. The InterMiles program has 4 Tiers Red, Silver, Gold and Platinum.
All JetPrivilege members are by default InterMiles member. In-case you are not a member, please log on to intermiles.com
Your JetPrivilege Membership number is now InterMiles number. You can quote this number and earn InterMiles for all eligible spends, activities on intermiles.com and on InterMiles Partners. You will continue earning your rewards in the form of InterMiles using the same card and on the same membership number.
YES! Your credit cards are still active. You will now earn InterMiles as per your card’s existing earning proposition for every eligible activity.
The Jet Airways benefits have been replaced with InterMiles and Etihad benefits, which spread across Flights and Hotels. You can check these benefits for your respective cards
Yes! You can continue to use your credit card as you were earlier. You can make the most of your credit card by using it on intermiles.com, where you can earn get accelerated InterMiles on *expand categories and partners*
We are working on replacing your existing JetPrivilege/Jet Airways co-brand Credit Card and you will soon be receiving your new card. You will soon receive an SMS(from the Bank) with more details. *Your existing Credit Card is active and good enough to carry out transactions. In due course, Bank will inform you on how and when you will receive your new Cards*
No, if you have already paid fees this year, you need not pay fees. What’s more, as a feepaying customer you will enjoy the new InterMiles and Etihad benefits.
No, your accrued JPMiles are safe and are now InterMiles. The validity of InterMiles is the same as JPMiles.
You can transact using your credit card wherever it is accepted and activate it. In-case the transaction fails, please contact the bank to activate the card.
Oops! If you have discontinued the card, you will need to re-apply for a new card. Please check the Cards section on intermiles.com, we will soon start issuing InterMiles Credit Cards. You can then apply for a new InterMiles Credit Card
Please contact IndusInd Bank for further details
Yes! By spending on your respective co-brand you co-brand you can achieve a Tier. What’s More! The bonus InterMiles you earn also contribute to your Tier achievement and retainment.
InterMiles= Base InterMiles (Basis accrual ratio) + Bonus InterMiles (Joining/Renewal + Other Bonuses)
You can utilize all your benefits on intermiles.com across any airline or Hotel available on intermiles.com.
Our banking partners are working towards issuing the new InterMiles credit cards. Please check the Cards section on intermiles.com, we will soon start issuing InterMiles credit cards or call the bank for more details.
Basis your card variant, we credited JPMiles (now InterMiles) to your account. Please check your InterMiles account statement for the same. For any discrepancy regarding the same, please write to premium.care@indusind.com
If you have paid your fees post 14th November 2019, your benefit will be in the InterMiles Wallet. If these are not visible there, please call +91 842289 3333 on or write to Intermiles on memberservices@intermiles.com.
If you have paid fees prior to 14th November 2019, we have credited JPMiles (now InterMiles) to your account. Please check your InterMiles account statement for the same. For any discrepancy regarding the same, please write to premium.care@indusind.com
Your credit cards now come packed with benefits like
Joining/Renewal Benefits:
- Discounts on Domestic Flights booked via intermiles.com
- Discount on Hotel Stays for bookings made on intermiles.com*
Ongoing Benefits:
- Discount on Etihad Airways Economy class bookings made on intermiles.com*
- Discount on Etihad Airways Business class bookings made on intermiles.com*
- 2.5 X Accelerated earnings for Etihad Flight bookings made on intermiles.com*
- 2X Accelerated earnings for all Flight bookings made on intermiles.com
- 2X Accelerated earnings for all Hotels bookings made on intermiles.com
Limited Time Benefits:
- Redemption Miles back for International flight bookings made on intermiles.com*
Don’t forget, You still get your joining/renewal InterMiles on paying your annual fees!
JetPrivilege is now InterMiles. At InterMiles, we believe that every journey deserves to be rewarding – whether it’s the purpose it fulfils, the experiences it brings or the memories it leaves you with. That’s why, we went ahead and created India’s most holistic travel and lifestyle brand, that rewards you at every step.
Yes, JetPrivilege had a Tiered Program, the Tiered Program had the following Tiers- Blue Plus, Silver, Gold and Platinum. The members achieved/retained their Tiers basis the Tier Points and Tier Miles accumulated over a period of 12,18 and 24 months.
The InterMiles program is now simpler with only InterMiles as a measure of attaining/retaining a Tier. The InterMiles program has 4 Tiers Red, Silver, Gold and Platinum.
All JetPrivilege members are by default InterMiles member. In-case you are not a member, please log on to intermiles.com
Your JetPrivilege Membership number is now InterMiles number. You can quote this number and earn InterMiles for all eligible spends, activities on intermiles.com and on InterMiles Partners. You will continue earning your rewards in the form of InterMiles using the same card and on the same membership number.
YES! Your credit cards are still active. You will now earn InterMiles as per your card’s existing earning proposition for every eligible activity.
The Jet Airways benefits have been replaced with InterMiles and Etihad benefits, which spread across Flights and Hotels. You can check these benefits for your respective cards
Yes! You can continue to use your credit card as you were earlier. You can make the most of your credit card by using it on intermiles.com, where you can earn get accelerated InterMiles on *expand categories and partners*
We are working on replacing your existing JetPrivilege/Jet Airways co-brand Credit Card and you will soon be receiving your new card. You will soon receive an SMS(from the Bank) with more details. *Your existing Credit Card is active and good enough to carry out transactions. In due course, Bank will inform you on how and when you will receive your new Cards*
No, if you have already paid fees this year, you need not pay fees. What’s more, as a feepaying customer you will enjoy the new InterMiles and Etihad benefits.
No, your accrued JPMiles are safe and are now InterMiles. The validity of InterMiles is the same as JPMiles.
You can transact using your credit card wherever it is accepted and activate it. In-case the transaction fails, please contact the bank to activate the card.
Oops! If you have discontinued the card, you will need to re-apply for a new card. Please check the Cards section on intermiles.com, we will soon start issuing InterMiles Credit Cards. You can then apply for a new InterMiles Credit Card
Please contact IndusInd Bank for further details
Yes! By spending on your respective co-brand you co-brand you can achieve a Tier. What’s More! The bonus InterMiles you earn also contribute to your Tier achievement and retainment.
InterMiles= Base InterMiles (Basis accrual ratio) + Bonus InterMiles (Joining/Renewal + Other Bonuses)
You can utilize all your benefits on intermiles.com across any airline or Hotel available on intermiles.com.
Our banking partners are working towards issuing the new InterMiles credit cards. Please check the Cards section on intermiles.com, we will soon start issuing InterMiles credit cards or call the bank for more details.
Basis your card variant, we credited JPMiles (now InterMiles) to your account. Please check your InterMiles account statement for the same. For any discrepancy regarding the same, please write to premium.care@indusind.com
If you have paid your fees post 14th November 2019, your benefit will be in the InterMiles Wallet. If these are not visible there, please call +91 842289 3333 or write to Intermiles on memberservices@intermiles.com memberservices@intermiles.com.
If you have paid fees prior to 14th November 2019, we have credited JPMiles (now InterMiles) to your account. Please check your InterMiles account statement for the same. For any discrepancy regarding the same, please write to premium.care@indusind.com
Your credit cards now come packed with benefits like
Joining/Renewal Benefits:
- Discounts on Domestic Flights booked via intermiles.com
- Discount on Hotel Stays for bookings made on intermiles.com*
Ongoing Benefits:
- Discount on Etihad Airways Economy class bookings made on intermiles.com*
- Discount on Etihad Airways Business class bookings made on intermiles.com*
- 2.5 X Accelerated earnings for Etihad Flight bookings made on intermiles.com*
- 2X Accelerated earnings for all Flight bookings made on intermiles.com
- 2X Accelerated earnings for all Hotels bookings made on intermiles.com
Limited Time Benefits:
- Redemption Miles back for International flight bookings made on intermiles.com*
Don’t forget, You still get your joining/renewal InterMiles on paying your annual fees!
Samsung Wallet is a secure and easy-to-use mobile payment service which can be used to make purchases nearly everywhere. It uses Magnetic Secure Transmission (MST) and Near Field Communication (NFC) technology to allow mobile payments.
Magnetic Secure Transmission or MST is a method of transmitting data using magnetic waves. MST replaces a card swipe by wirelessly transmitting magnetic waves from the Samsung device to a standard card reader available with the merchant.
Near Field Communication or NFC is a method of transmitting data using radio waves. Samsung Wallet uses NFC technology to wirelessly transmit payment data to merchant payment terminals with NFC readers that have been activated for use.
Galaxy S20 Ultra, Galaxy S20+, Galaxy S20, Galaxy Note 10+, Galaxy Note 10, Galaxy Note 10 Lite, Galaxy S10+, Galaxy S10, Galaxy S10E, Galaxy S10 Lite, Galaxy Note 9, Galaxy S9, Galaxy S9+, Galaxy Note 8, Galaxy S8+, Galaxy S8, Galaxy S7edge, Galaxy S7, Galaxy S6 edge+, Note5, Galaxy A70, Galaxy A70+, Galaxy A80, Galaxy A30s,Galaxy A50s, Galaxy A51,Galaxy A8+, Galaxy A7(2017 & 2016), Galaxy A5(2017 & 2016), Galaxy A9pro and Galaxy J7 Pro. Other newer models will follow. (Galaxy A30s, Galaxy A50 & Galaxy A51 are NFC only devices)
Samsung Wallet uses leading edge tokenization and authentication methods to secure your information. Samsung Wallet also uses biometrics as a security measure, enabling users to authenticate Samsung Wallet via fingerprint or Secured PIN. In addition to the security measures implemented by Samsung Wallet, Samsung’s KNOX service constantly monitors suspicious activity within the device to protect from any malicious attacks.
Tokenization is a method of replacing your sensitive payment card information (Card Number, Expiration Date, Security code, etc.) with a device-specific ‘Token’ which acts as a surrogate value. In mobile payments, Tokens are used to protect your payment information and to reduce the security risks inherent to plastic cards.
All IndusInd Bank Debit cards are compatible with Samsung Wallet.
Samsung Wallet is available to users with a compatible Samsung device only.
Cards can be either automatically registered by scanning your card with Samsung Wallet or manually inputting the card information. Then Samsung Wallet application will authenticate your identity via an OTP, post which your Card will be activated. You can also register your Debit card on Samsung Wallet by calling our call centre.
The card displayed in Samsung Wallet application may differ marginally from the physical card.
On an average, it takes about a couple of minutes for the card to get activated. In case the same is taking more than 10 minutes post meeting all verification requirements, please remove the card from Samsung Wallet and try to register again. Contact IndusInd Bank for assistance if you continue to encounter delays.
Samsung Wallet requires an active internet connection for card registration and activation.
However, an active internet connection is not required to make in-store card purchases. It is recommended the device should be connected to the internet for the best Samsung Wallet experience.
When performing a factory data reset, all payment information in Samsung Wallet will be deleted. You will need to set up and add your payment card information into Samsung Wallet again after your device has been reset.
The last 10 transactions done using Samsung Wallet are viewable in the Samsung Wallet app for one month from the time of transaction.
No, Samsung Wallet does not work at ATMs.
Deleting a payment card from Samsung Wallet will only remove the payment information, including the token (digital card number), from the device. Your physical card will remain active.
A Contactless Card is a faster way to pay with your Credit Card for purchases under ₹5000/- at participating stores. Instead of dipping (or swiping) your card on the merchant terminal, simply wave or tap your card on the contactless enabled terminal and pay without entering a PIN (for amount under ₹5000/-).
The Contactless payment feature allows customers to make safe and secure payments with a simple tap of the card on the PoS (Point of Sale) machines at compatible merchant outlets. These NFC-enabled terminals transmit payment details and authenticate transactions without the need for swiping the card.
Look for this 
symbol on your IndusInd Bank Card and also on the machine at the shop. This symbol, if present, means that your Card is a Contactless Card and the machine is enabled for contactless transactions.
Your IndusInd Bank Contactless Credit Card can be used at any merchant outlet that has a contactless payment PoS machine. If the PoS machine has a contactless symbol displayed on it, it can process contactless payments. In case such a machine is not available, the Contactless Card can still be used for swipe or dip transactions.
Look out for this symbol on the machine at the shop/store/outlet
Tap the card on the machine or keep it close to the terminal.
You will hear a beep/see a green light and get the receipt for the contactless payment you have done.
You should hold your Contactless Card within 4 cm of the card reader.
You can pay using the Contactless feature for any amount within the overall daily transaction limit of ₹5000. For transaction value over ₹5000, you will have to use your card by either swiping or dipping it like any other Credit Card purchase. Please note, the daily transaction limit for Contactless purchase is decided by the RBI and may change from time-to-time.
Yes, there is a daily limit of 5 contactless transactions on this card, which means that only 5 transactions below ₹5000 will be permitted without two factor authentication, post which any transaction below ₹5000 on that same day will require the Card to be dipped and PIN to be entered.
Contactless payment is designed to make your transactions swift and convenient. The retailer will ask if you require a charge slip. Please advise the retailer accordingly.
A successful transaction is confirmed by the illumination of four green indicator lights and a display message on the PoS machine.
No, you cannot unknowingly make any purchase on your card. Your card has to be tapped within 4 cm of the card reader for more than half a second and the retailer has to first enter the amount for you to approve. Terminals can only process one payment transaction at a time, thereby reducing transaction errors.
Contactless cards benefits you through its enhanced convenience to pay and higher level of security. The convenience is by way of speed of payment through not having to enter your PIN for transactions below ₹5000. It is also more secure as you are in control of the card at all times as the card does not leave your hand when you make the payment at the shop.
Yes, as with a standard Credit Card, you will receive an SMS and an email notification after each transaction.
Yes. If the shop doesn’t have a contactless machine installed, you can continue to dip (or swipe) your Contactless Credit Card just as you always have. You can also choose to use this option even if there is a contactless terminal available.
Generally, such a situation does not arise. However, in any such rare cases, you can contact IndusInd Bank customer care to inquire about the status of your transaction.
In case your Credit Card is lost or stolen, please contact IndusInd Bank customer care immediately to block your card. You can also block your lost/stolen Credit Card on our net banking portal (IndusNet) or on the IndusMobile App instantly.
You can enable or disable the Contactless feature on your Credit Card as per your convenience online by clicking on Set Credit Card Transaction preferences available on our website under Quicklinks > Credit Card related or by logging on IndusMobile App or through IndusNet. You can also dip (swipe) your Contactless Credit Card just as you always have and enter the PIN, if you don't want to make a purchase using the Contactless feature.
Google Pay India is a mobile payment service that can be used to make payments using Cards and UPI.
All devices with Android 5.0 (Lollipop) or higher are compatible with Google Pay India.
Yes, you can download the Google Pay India app from the Google Play Store.
To create your Google Pay account,
- Download Google Pay on phones running Android 5.0 (Lollipop) or higher.
- Enter your phone number.
- Sign in with your Google account.
- Follow the instructions to secure your Google Pay app and add a Card/Bank account.
You can use any mobile number of your choice for Registration on Google Pay as long as you have access to the mobile number. The OTP to complete the registration will be delivered to the mobile number entered by you. However please do note that in order to add a payment method on Google Pay below are required:
- In order to add a card on Google Pay please ensure you have access to the mobile number registered with your Bank as you would receive an OTP on that number
- In order to add a Bank account on Google Pay via UPI please ensure that you have registered on Google Pay using the phone number linked to your account and that the SIM for the same is on the device you are using.
On your mobile device, open Google Pay
- Tap Profile > Payment methods > Add Card.
- Enter the Card number, Expiry date, CVV, and the Cardholder’s name and billing address.
- Tap Save
- Accept Issuer Terms & Conditions
- Choose verification method
- You will be asked for additional authentication via OTP
- OTP will be auto read or you can enter it manually
- After your Card is verified, you’re ready to use it for transactions.
Important:
- You should receive this OTP via text message to the phone number/e-mail associated to your Card. If you don’t receive a one-time password, verify that your contact information is up to date with the Bank.
- Adding your Card to Google Pay will register your card for Tokenized card payments for all the below use cases :
- Tap & Pay at NFC enabled terminals
- QR code based payments at merchants
- Mobile Recharges on Google Pay and Online payments on 3rd party merchants where Google Pay is supported
In case you don’t want to register your Card for any of the use cases listed above you can always call the Bank to opt-out/de-register a particular use case for you before adding the card.
You can also call your Issuer to de-register your Card on a per use case basis post Card addition.
- On your mobile device, open Google Pay App
- Tap Settings > Payment methods.
- Tap the Card that you want to remove and select Remove card.
Please note that removing your Card from Google Pay will automatically disable all forms of tokenized card payments for you.
You can also call the Bank to de-register your Card on a per use case basis post Card addition
You can currently register your IndusInd Bank Visa Credit and Debit Cards on Google Pay.
You can use a Visa Credit or Debit Card added in Google Pay for the following types of transactions:
- Tap & Pay at NFC enabled payment terminals
- Bharat QR code based Payments at online & offline merchants
- Mobile Recharge payments on Google Pay
- Online Payments on Myntra Android app
This depends on the Card variant that you have registered on the Google Pay App i.e. if your Card is an international variant then you can use it at foreign countries and if it is a domestic variant then you can use it only in India. Please make sure that you have enabled your Card for international transactions with the Bank in order to use it for international payments.
Currently Google Pay is not supported at ATMs.
For the activation of your Card while registering it, the OTP can be generated through an SMS and will be sent to your registered mobile. You can also call our customer care to activate your Card.
This OTP is valid for 30 minutes and in case a new OTP is needed the registration can be repeated and same process has to be carried out again..
Your mobile number and/or e-mail ID may not be updated in the Bank’s records. Please update your mobile number and e-mail ID with the Bank immediately.
The average amount of time between the request for activation and approval will be within seconds, but may take up to 10 minutes depending on completion of additional verification requirements. If this amount of time has been exceeded, remove the digital card from Google Pay and register it again.
Google Pay uses a process called tokenization to save your Card. Tokenization is a method of replacing your sensitive payment Card information (Card Number, Expiry Date, CVV, etc.) with a device-specific ‘Token’ which acts as a surrogate value that is then used for processing payments instead of the sensitive Card information.
Tokens are used to protect your payment information and to reduce the security risks inherent to plastic Cards.
Google Pay does not store any of your sensitive Card information like Full Card number, CVV, Expiry date either on the device or on the server.
- You can open your Android Device Manager by clickinghere and lock your device from the Secure Device option in the menu. This will deactivate all your card tokens.
- You can also choose to Wipe out the device in which case we will remove the tokens completely from the device instead of de-activating them.
- You also have an option to call the Bank to de-register your Card token(s) on Google Pay.
Yes if you change your phone then all your Cards would have to be added again since Card tokens are device specific and you would need to re-tokenize your Cards on your new device.
- You should delete all your Cards one at a time from Google Pay App
- You should also log out of Google Pay App and uninstall the App
No, Formatting or resetting your device will remove all payment/Card information from your device.
Yes, it can be used immediately after successful registration.
- Turn on your phone screen, and then unlock your phone. You do not need to open the Google Pay App.
- All you need to do is Tap your phone in the same way as you would tap your physical card at the terminal.
- Please make sure that NFC is turned on in phone settings.
- In case you have multiple Cards added to your account and wish to change your default Card settings you can do so through Google settings on your device (Not Google Pay settings)
- Pay at any store that has a tap & pay enabled terminal. You should look out for terminals with the below contactless symbol
or ask at the store.
Tap & Pay uses a technology called Near Field Communication or NFC which is a method of wirelessly transmitting data using radio waves. Google Pay uses NFC to wirelessly transmit payment data to payment terminals with NFC readers that have been activated for use. In order to make a contactless NFC transaction, please make sure that NFC is turned on in phone settings.
Which Card will be used for contactless payments and how can I change my default Card for Tap & Pay?
- By default your first added Card will be used for contactless/Tap & Pay payments
- In order to change your Card: Switch On your mobile device, open Google Pay
- Tap Settings > Google.
- Tap Account services > Google Pay.
- Follow the on-screen instructions to change your default Tap & Pay Card.
The permissible limit for Tap & Pay transactions in India is ₹5000. You can use Google Pay to transact only up to ₹5000 at merchant terminals. Your Card PIN will not be required for these transactions.
Yes, you can absolutely enjoy the contactless experience in Google Pay, even if your physical Card is not contactless. All you need to do is have an NFC enabled phone and turn on NFC in settings and add your Card to Google Pay.
SMS OTP is used as AFA for online and Bharat QR transactions. SMS OTP will be sent to your registered mobile. This is mandatorily required for all online and Bharat QR transactions irrespective of the order amount.
Cancelling or disputing the payment made with Google Pay is exactly the same as your physical Card. Please follow below steps:
Bharat QR
Please contact the Bank if:
- If transaction has failed but the Card has been charged.
- If transaction has succeeded but fulfillment of order on merchant side has failed and merchant claims that he has not received the funds.
You can use the approval code on the transaction detail screen to provide as reference to the Bank. To get in touch with the Issuer Bank kindly tap on the transaction in Google Pay and you will be able to see the contact details of your Issuing Bank.
Please contact the merchant if:
- Transaction was successful but order did not get fulfilled.
- Other potential merchant side issues like: Cancellation of order, Returns of goods and service, Late delivery, etc.
Online merchant Payments (Currently supported on Myntra) and Tap & Pay
Please contact the Bank if:
- If transaction has failed but the Card has been charged.
- If transaction has succeeded but fulfillment of order on merchant side has failed and merchant claims that he has not received the funds.
To get in touch with the Issuer Bank kindly tap on the transaction in Google Pay and you will be able to see the contact details of your Issuing Bank.
Please contact the merchant if:
- Transaction was successful but order did not get fulfilled.
- Other potential merchant side issues like: Cancellation of order, Returns of goods and service, Late delivery, etc.
You can also contact the merchant by using the contact option in the overflow menu on the conversation screen.
Mobile Recharge on Google Pay
Please raise a dispute on Google Pay App if the transaction was successful but order did not get fulfilled. You may follow below steps to raise a dispute:
Your issue will be resolved within 7 business days from initiating a dispute.
Please contact your Bank if:
- If Transaction has failed but the Card has been charged.
- If Transaction has succeeded but fulfillment of order on merchant side has failed and merchant claims that he has not received the funds.
Google Pay requires an active internet connection for Card registration and activation. Google Pay also requires an active internet connection for performing in-app (ecommerce) and scan & pay transactions. However, an active internet connection is not required to do Tap & Pay for in-store card purchases if you already have an added Card.
Google Pay does require internet connection periodically to update its security features. In such instances, if there is no internet connection, the app might not work intermittently until an active connection is established.
In rare cases, the merchant may ask you for the last four digits of the Card number. You will need to provide the last four digits of the digital Card number/Token instead of the last four digits of the physical Card number. Please note that you should never disclose your PIN number, OTP or your CVV number mentioned at the back of the Card to the merchant.
For enhanced security, your actual Card number will never be stored on the phone or exposed to the merchant. Your Card number will instead be replaced by a unique digital number (i.e. Digital Card Number, visible on the left side of the Card in the Google Pay screen, and in the main app when viewing your registered Cards) each time you add a new Card to your device. This Digital Card number will then be transmitted to merchants in place of your actual Card number for purchases.
Yes, you can register the same Card in multiple devices. Please note that even if you register your Card on more than one device, any SMS communications about your Google Pay account will still be sent only to the registered mobile phone number with the Bank.
If the Card Number gets changed, you will be required to register again with the new Card details.
This means that your Card is not supported for the payment you are trying to make. Please note Cards are not supported for person to person payments meaning you can only pay merchants/businesses using Cards added on Google Pay. Paying to friends/family is not supported using Cards. You can always use UPI on Google Pay for the same.
You will not be able to add your Card to Google Pay if your Card is suspended or expired. If your added Card on Google Pay gets suspended or expired then they do not show up in the payment methods screen on Google Pay.
In case, your physical Card is blocked then even your tokenized Card on Google Pay will not work.
For online and Bharat QR transactions:
- You can view your transaction history in the All transactions section on Google Pay.
- You can also view the transactions in your conversation section with the individual merchants.
Your Tap & Pay transactions will not be visible in the Google Pay App and can be viewed on the Bank’s Mobile Banking App or Net banking portal.
You will be able to return merchandise that you purchased based on the store's return policy
No, there is no issue. The Card displayed in Google Pay may differ slightly with the physical Card. The key points to look for is the Bank’s logo and Visa/Mastercard logo and the last four digits of the physical Card.
Please ensure that you are using a valid IndusInd Bank Visa/Mastercard Debit or Credit Card only. If it still fails then it may be any of the following reasons:
- Your Card may not be eligible to participate in Google Pay.
- Card information entered for registration is not correct, and/or
- Technical issues (In such cases you should try after some time.)
You can set and modify the transaction limits for your Card transactions by logging on to the Mobile Banking App or on the Net banking portal of the Bank.
You can update your contact details through the following channels:
- Through our Mobile Banking App -IndusMobile
- Through our Internet Banking Portal - IndusNet
- Through our Phone Banking service
- Through the Branch (for debit cards)
You can enable or disable your Card for Tap & Pay or contactless transactions by logging on to the Mobile Banking App or on the Net banking portal of the Bank or by calling our helpline number 1860 267 7777.
You can enable or disable your Card for online transactions by logging on to the Mobile Banking App or on the Net banking portal of the Bank or by calling our helpline number 1860 267 7777
Toll free number for Google Pay: 1-800-419-0157.
For more details visit: https://support.google.com/pay/india/answer/7562363?hl=en-GB
The difference is that these Reward Points are valid across the year. There are no promotional periods or duration within which you have to avail the offer. This is a permanent feature on the IndusInd Bank Tiger Credit Card.
Reward Points accumulated on IndusInd Bank Tiger Credit Card will be valid for period of 24 months from the date of accrual.
There is no cap to redeem your Reward Points. However, in each billing cycle redemption of upto 20000 reward points can be done through cash credit. IndusInd Bank reserves the right to change the redemption cap for every billing cycle at its discretion. Visit www.indusind.com for updated details.
You can call the Concierge services on 1860 267 7777.
You can avail of the following services from the Concierge desk:
Pre-trip Assistance: With this service, you can get information about any destination in India or abroad - information like the weather, important landmarks, modes of transport, etc. You can plan your trip easily with this information.
Hotel Bookings: If you need to make a booking at any hotel across the world, you can call the concierge desk and the concierge desk shall take care of the bookings.
Flight Bookings: Your flight bookings whether in India or abroad can be handled by the concierge desk. The concierge will book the tickets and deliver them to you at your doorstep.
For the IndusInd Bank International Travel offers, call the concierge desk and the tickets will be charged on your card and delivered to you at your doorstep.
Car Rental & Limousine Service: If you want to rent a car while travelling in India or abroad, all you will need to do is call the concierge and the rental shall be arranged for you.
Sports and Entertainment Bookings: If you want tickets for the Sports events, you can call the concierge desk. They will try and arrange for the tickets and deliver them to your doorstep.
Event Bookings: You can call the concierge desk to arrange for tickets to any special talks or events across the world
Flower and Gift Delivery: With the concierge, you can arrange to send flowers or any special gift to anyone across the world. You can ask the concierge for the rarest of things and they will be arranged and delivered to any place that you wish.
You will not be charged for using the concierge service. You will only be charged for the actual cost of the services, e.g. cost of the ticket if you book tickets and any delivery charges that are applicable.
You can ask for the rarest of gifts for your loved ones through the concierge. The concierge will search for the gift that you have asked from across the world. However, they cannot guarantee that it would be available. The service is on a best effort basis and they would try their best to ensure that what you ask for is fulfilled.
Auto Assist provides you with the following services:
Roadside Repair Service: In the event that your vehicle breaks down on the road due to any mechanical/electrical fault, Auto Assist will help in arranging for the mechanic for repair of your vehicle at the vehicle’s breakdown location.
Emergency Fuel Supply: If your vehicle gets stranded on the road due to lack of fuel, the Auto Assist shall arrange to deliver the fuel (up to 5 litres) to the location where your vehicle is stranded.
Flat Tyre Services: In case of a flat tyre, the Auto Assist Service shall arrange for a mechanic to come and repair the flat tyre.
Keys Locked Inside: In case of car keys getting locked inside the car or keys getting misplaced, we can even arrange for a locksmith to come and either prepare a new car key or open your car for you at the time of need.
Battery Service: In case the battery is not functioning, the Auto Assist shall arrange for a service provider to come for battery repair at the vehicle’s breakdown location.
Emergency Towing Assistance: In case of a breakdown where the car needs to be towed, the Auto Assist service shall arrange for a towing service for taking your car to the appropriate repair shop.
Accident Management and Medical Assistance: In the unfortunate event of an accident or emergency, the Auto Assist will assist you by co-ordinating necessary activities including: emergency message transmission, arranging for emergency medical assistance, towing of vehicles.
You do not need to pay for arrangement of the mechanic, however all expenses including labour charges or any repair charges need to be paid to the mechanic.
The Auto Assist service is on a best efforts basis and the time would depend on the location of the vehicle. However, normally it would take about 30 to 45 minutes to reach you within city limits and about 1 to 1.5 hours to reach you outside city limits, in case of emergency.
To avail the Auto Assist service, you need to call the Concierge on 1860 267 7777.
The Auto Assist service is available in Delhi, Mumbai, Kolkata, Chennai, Bangalore and Pune.
No, booking cannot be done by directly contacting the Golf Course.
A debit card allows you to withdraw money or make payments directly from your bank account. For making payments, you need to swipe the card at point-of-sales machine or fill out the card details for e-commerce transactions. A debit card works as an Any Time Money card to withdraw cash from ATM machine. A debit card is linked to your bank account, which means you cannot use the money beyond what is there in your savings or Current account.
You don’t need to apply for a debit card as you automatically get one upon opening a savings or current bank account. The transaction limit of the card is linked to how much amount is deposited in your savings account. In case you don’t have a debit card or wish to upgrade the existing one, you need to fill out an application applying for the card.
The eligibility for debit card depends on the kind of savings account you hold in the bank. The features of debit card such as cashback offer, daily transaction limit, reward points, airport lounge access etc. depends on the kind of savings account and debit card you hold.
IndusInd Bank debit card comes with many benefits including:
- Cash withdrawal at any ATM within the limit prescribed by RBI
- Acceptability at a large number of Merchant establishments across India
- Acceptability for different online payments including utility bills, government entities, e-commerce websites etc.
- Safety and security features to protect your money
- Personal accident cover, cashbacks, fuel surcharge waiver, reward points etc.
If your IndusInd Bank debit card is stolen, you need to block your debit card through these ways.
Block debit card via SMS
SMS LOST DDMMYYYY to 9223512966 from your registered mobile number.
Block debit card via Phone banking
Call phone banking at 18602677777 to block your debit card
Block debit card via IndusMobile App
- Open the IndusMobile app
- Select ‘Block Debit Card’ under ‘Select your service request’ option
- Choose from the options - No replacement required, replacement required or upgrade card
- State the reason for your request
- Confirm your request
- Your card will be blocked instantly and your replacement/upgraded card will be dispatched to your communication address
If the PIN of your debit card is blocked, here are the steps to reset the PIN:
- Download the IndusMobile App
- Go to the bottom of the home screen and click on ‘Service Request’
- Select Reset PIN option from the dropdown and set your PIN
- Enter your card CVV, Card Expiry Date, and PAN number/ Date of Birth
- Enter the new PIN and confirm the same
- Click ‘Yes’ and proceed
- New PIN will be activated in 4 hours
If your debit card expires or you want to replace the existing card, here are the steps to follow:
- Download the IndusMobile app
- Open the app and visit ‘Select your service request’ option
- Click on ‘Block debit card’
- Three options will be displayed, choose - ‘Replacement required’
- Specify the reason for request
- Confirm the request
The bank will dispatch the debit card to your mentioned communication address.
As the the mandate issued by RBI, all new Debit Cards can only be used for Domestic ATM & Merchant Transactions at the time of issuance, You can, however, activate the debit card for international transactions by calling the customer care from your registered mobile number or using the IndusMobile App or using Net Banking. Also, you can visit the neared IndusInd Bank branch with original ID proof to get international transactions activated.
Block debit card through SMS
SMS LOST DDMMYYYY to 9223512966 from your registered mobile number.
Block debit card through Phone banking
Call phone banking at 18602677777 to block your debit card.
Block debit card through IndusMobile App
- Open IndusMobile app
- Go to ‘Select your service request’ option and select ‘Block Debit Card’
- Choose from these options - No replacement required, replacement required or upgrade card
- Mention the reason for your request
- Confirm the request
After filling the request form, the bank will block your card and dispatch the new card to your communication address.
As per the RBI, here are the rules that apply:
- A single transaction cannot be of amount more than USD 2,500
- More than 30 transactions cannot be performed in one calendar year
- One can receive remittance only for purpose of personal maintenance
To set PIN for your debit card, download the IndusMobile and follow these steps:
- Click on ‘Service Request’ at the bottom of the home screen
- Select ‘Set PIN’ option under dropdown
- Enter your card CVV, card expiry date and PAN number/ Date of Birth
- Enter your new PIN and confirm the same
- Click ‘Yes’ to proceed
- Your new PIN will be activated within 4 hours
To replace a damaged debit card, download the IndusMobile app and follow these steps:
- Open the IndusMobile app
- Click on ‘Select your service request’ option and select ‘Block debit card’
- Choose Replacement required from the options appearing on the screen
- Mention the reason for your request
- Confirm the request
The bank will dispatch the replacement card to your communication address.
A Contactless card is a faster way to pay with your debit card for purchases under Rs.5000/- at participating stores. Instead of dipping (or swiping) your card on the merchant terminal, simply wave or tap your card on the contactless enabled terminal and pay without entering a PIN (for amount under Rs.5000/-).
Look for this symbol on your IndusInd Bank card and also on the machine at the shop. This symbol, if present, means that your card is a Contactless card and the machine is enabled for contactless transactions
Contactless cards benefits you through its enhanced convenience to pay and higher level of security. The convenience is by way of speed of payment through not having to enter your PIN for transactions below Rs.5000/-. It is also more secure as you are in control of the card at all times as the card does not leave your hand when you make the payment at the shop.
Yes, contactless technology uses secure encryption (the same as CHIP and PIN) so you can confidently use it. The maximum transaction value for a contactless transaction is capped at Rs.5000/which further limits any possible loss. Furthermore, you continue to be protected through the lost card liability cover on your card. Ensure that loss of your card is reported to IndusInd Bank immediately on discovering the same.
Look out for this symbol on the machine at the shop/store/outlet
Tap the card on the machine or keep it close to the terminal (for transactions below Rs. 5000/-)
You will hear a beep/see a green light and get the receipt for the contactless payment you have done
You can use your contactless card wherever you see this symbol at the shop/store/outlet. It is ideal for transactions below Rs.5000 as a PIN and Signature is not required. So you do not need to count the change or worry about carrying enough cash.
Yes, you will be able to use your Contactless Debit card, however, if the amount is above Rs.5000/- then you will have to use it like a regular debit card by either dipping (or swiping) it in the machine and you will also be asked to enter the PIN.
Yes, there is a daily limit of 5 contactless transactions on this card, which means that only 5 transactions below Rs.5000 will be permitted without two factor authentication, post which any transaction below Rs.5000 on that same day will require the card to be dipped and PIN to be typed.
No there is no limit on value of goods that you can purchase. For transaction value over Rs.5000/-you will have to use your card by either swiping or dipping it like any other EMV chip debit card.
The Rs.5000/- limit per transaction is only in India, if the transaction is over Rs.5000/- you will need to put in a PIN. Each country that has contactless cards has different rules and it also depends on the terminal which would be used at that time, in that country. However, the limit on the amount is as per your credit limit on your credit card and the daily transaction limit on your debit card.
Yes. If the shop doesn’t have a contactless machine installed, you can continue to dip (or swipe) your contactless debit card just as you always have. You can also choose to use this option even if there is a contactless terminal available.
Contactless is a permanent feature of your card and can’t be disabled. You can still dip (swipe) your Contactless debit card just as you always have and enter the PIN, if you don't want to make a purchase using contactless.
The machine at the shop/outlet will indicate that the payment has been made – a light, beep or indicator will let you know that the payment has been processed. You will get a receipt which means that the payment has been successful.
Please let the shopkeeper know that you need a receipt. However, the receipt is not directly available in some circumstances; for example, while paying for travel by tapping your card on an electronic ticket reader, or using a contactless card at a vending machine. And all contactless purchases are recorded on your statement and you will get to see them on your IndusInd Bank internet banking account and IndusInd Bank mobile app as well.
Contactless cards and machines do not work beyond a distance of 4 cm. We would suggest that you remove the card from your wallet/purse/clutch and keep it on the machine.
No. Your card has to be tapped within 4 cm of the card reader for more than half a second and the retailer must have first entered the amount for you to approve. Terminals can only process one payment transaction at a time, thereby reducing transaction errors.
There may be a small chance that the contactless functionality does not work straight away on your new card. Your card needs to be activated before the contactless functionality will work. If you use your card first on a transaction by inserting your card into a machine then putting a PIN, then contactless should work after this transaction.
Yes, IndusInd Bank Contactless Cards provide cover upto 100% of the purchase limit as long as you report the loss of your card to IndusInd Bank immediately
You can visit the below link to manage all your Standing instructions:
Manage E-Mandates
As per RBI guidelines on ‘Processing of e-mandate on cards for recurring transactions’, effective 1st October, 2021, existing / new e-mandates which were/are setup without additional factor of authentication will not be approved. We have integrated with a service provider to allow customers to setup standing instructions that are complaint with the guidelines.
As per the new regulatory guidelines, below activities need to be ensured:
- • Mandate registration, modification and deletion will require additional factor of authentication (AFA)
- • Customers will get a pre-debit notification by SMS and Email, 24 hours prior to the transaction
- • Customers can cancel the debit/ SI by visiting the link provided in the pre-debit notification
- • Customers will have the facility to view / modify or cancel any Sis that are set on their Debit card
- • Customers can also define maximum permissible amount for each SI. If the Debit amount is greater than the maximum amount set by the customer, the pre-debit notification that will be sent by the bank will have the link for the customer to approve the transaction via OTP. The transaction will not be processed if the above is not performed.
- • Transaction (SI) of value greater than INR 5000 will require AFA via OTP every time the debit request is received.
Any Standing Instruction set up on your Debit Card (both domestic and international) will be declined if it is not processed with additional factor of authentication (OTP).
You will have to visit the merchant website/ App where your SI was earlier registered. If the merchant is compliant with the new regulations, it will allow you to register for SI again.
Below is the list of merchants where you can setup recurring payments using your IndusInd Bank Debit Card:
- • Netflix
- • Max Life
- • Bajaj Allianz General Insurance
- • Amazon Prime
- • Google India
- • Policy Bazaar
- • Hotstar
- • Microsoft
- • Spotify
- • Discovery
- • RPSL
- • Naukri
- • Ipru
- • Zee5
- • HDFC Ergo
- • Max Niva Bupa
- • Vodafone
- • Bharti AXA Life Insurance
- • Macafee
- • Exide Life
- • Story tell
- • Club Mahindra
- • Gaana.com
We will decline any Standing Instruction which is registered without AFA.
No, only SIs registered on Debit Cards will start getting declined.
There will be no change for SI that is registered on your IndusInd Bank Account. However, the SIs setup on Debit cards will start getting declined from 1st October, 2021.
No, the bank will not be responsible if the SI is declined, the customer needs to make the payment directly with the merchant.
It is the new generation Corporate Card from IndusInd Bank which allows the users to make faster payments at merchant locations with just a tap where contactless payment is accepted. It can also be used for standard shopping and online transactions.
The contactless payment feature lets consumers make safe and secure payments with a simple tap of the card on the POS machines at the Merchant outlets. These Near Field Communication (NFC) enabled terminals transmit payment details and authenticate transactions without swiping the card.
Anywhere that the Contactless payment POS Machine is available, the card can be used to tap and pay. If a contactless POS machine is not available, the Contactless card can still be used for swipe or dip transactions. If the PoS machine has a contactless symbol displayed on it, then it is enabled for contactless payments.
Look out for a retailer displaying the contactless symbol and Visa logo at the point of sale (POS). Hold your card within 4 cm of the secure contactless reader. Four green lights will appear. This takes no more than half a second. You can then remove your card and the transaction will be complete.
You should hold your Contactless card within 4 cm of the card reader.
You can use your Contactless card for any amount within the overall daily Point of Sales/Online Transaction Limit. For purchases done at the Contactless payment POS Machine the transaction amount will be limited to the per transaction limit set by the Bank in line with the regulatory guideline. Please visit www.indusind.com for further details. For transactions above the limit, the card holder will need to swipe the card and authenticate using the PIN.
A contactless payment is designed to let you make transactions easily and conveniently. The retailer will ask if you require a charge slip. If you do not require a charge slip, please advise the retailer and a charge slip will not be given.
Your transaction is confirmed by illumination of four green indicator lights and a display message confirming that your transaction has been successful.
Your card has to be tapped within 4 cm of the card reader for more than half a second and the retailer must have first entered the amount for you to approve. Terminals can only process one payment transaction at a time, therefore reducing transaction errors.
Corporate Card is a multi-purpose International Card which can be used for the following purposes: a) Faster day-to-day payments at merchant locations accepting Contactless Payments b) POS shopping at 10 lakh merchant outlets in India and over 30 million worldwide accepting Card Payments cc) Safe online shopping and e-commerce transactions e) Utility and other Bill Payments
Yes, like a Standard Credit Card the customer will receive an SMS and an e-mail notification each time a transaction takes place.
Yes. This Corporate Card is secured with a Contact and Contactless Chip along with Magstripe and NFC antenna. The NFC antenna is for enabling Contactless Payments at Merchant locations accepting contactless Payments. The Chip and the magstripe portion is used for transactions - such as usage purchases at POS/online where Contactless payments are not accepted.
In the rare event when the Contactless transaction on your Corporate Card is declined due to any reason, the Cardholder can request the merchant to make the payment by swiping or dipping the Card in the traditional manner.
Generally, such situation does not arise. However, in any such stray cases, one may contact IndusInd Bank customer care center to enquire about the status of the transaction.
Indus Forex Multi Currency Card is Chip Technology based Foreign Exchange card which offers greater security and increased protection.
Due to the increasing frauds and misuse with the payments done by magnetic stripe cards, the cards have been developed according to the EMV standard in order to prevent fraud and misuse. This makes the chip card more secure against card frauds and protect customers from card skimming and counterfeit.
No, after issuance of the card, the Bank takes upto 24 working hours to activate the card. An SMS alert is sent to you on activation of the card. Alternatively, you can call our Phone Banking Service to check on card activation.
You can use the card either at an ATM for cash withdrawal or at merchant outlet for a purchase transaction. You can use the card online as well for any online shopping or payment.
Please note, the card cannot be used in India, Nepal and Bhutan.
You can check the available balance through any of the below options-
1. By Logging into the ontine portal. Click here to login.
2. By calling our Phone Banking Service.
3. By doing a balance enquiry at VISA/ VISA Plus ATM. Balance of the wallet in local currency will only show at the ATM
Further, the Bank sends an SMS alert for every transaction done using the Indus Forex Multi Currency Card which carries the available balance details. SMS alerts are sent only to mobile number from India. On SMS alert the balance of the currency wallet debited will be recieved.
No, this card cannot be used in India, Nepal and Bhutan.
Please report the same to the Bank immediately through the Phone Banking Service. We will get your card hot listed immediately and you can walk into one of branches for a replacement card.
Yes, you will be able to use your Multi Currency Card in any country across the world, except for India, Nepal & Bhutan. The card can be used forwithdrawing the local currency of the country you are in or for making payment for a purchase transaction at any merchant outlet.
While you may not be able to load the card outside India, but your family in India can get your card reloaded from any Induslnd Bank branch or partner agent who had issued the card.
You can call Induslnd Bank's 24-hour Phone Banking Service for any assistance and information related to your card. 1860 267 7777 (from India only) or +9122 61553100 (from outside India) Can I write an email to the service desk, in case of any query? Yes, you can email your queries for reachus@indusind.com
Your PIN (Personal Identification Number) is a unique 4 digit secure number assigned to your card and known only to you. It allows you to withdraw cash from VISA/ VISA Plus/ ATMs worldwide with a charge as listed. This PIN may also be used at certain merchant establishments where the POS / EDC terminal prompts for PIN entry.
There are 1.6 Million VISA / VISA Plus ATMs at over 200 countries worldwide. Please visit the below ATM locator link to find nearest VISA ATM http://www.visa.com. or http://visa.via.infonow.net/locator/global. Unless you are travelling to someplace very remote, it is very unlikely that you won't be able to find one. It may please be noted that there are certain countries where, either VISA has withdrawn support or there is no presence of VISA infrastructure. Thus, there will be no acceptability of our card in such countries.
Please call our 24 x 7 Phone Banking Service and request for reissuance of ATM PIN. We will send the ATM PIN to the communication address in India. Also please note that the card gets blocked for use at ATMs, if the card has been used with a wrong ATM PIN more than 3 times. This is for your own security and to prevent any fraudulent use on the card.
Indus Forex Multi Currency Card is valid for 3 years. Upon card expiry, please cut the Indus Forex Multi Currency Card into several pieces through the magnetic strip. Please visit the nearby Indus Ind Bank branch for new card.
Please call our 24-hour Phone Banking Service or alternatively write an email to dedicated service desk.
If the transaction is done in base currency (currency in which the card is purchased), there is no exchange rate applicable. However, for transactions done in currency other than base currency, exchange rates / conversion rates from the base currency to the local currency are applicable in accordance with rates applied by VISA. Currency conversion is done automatically in an international online environment by VISA.
We as a bank do not have any role in the currency conversion and do not apply any cross currency conversion fees. The rates used by VISA are fine and is globally accepted by all banks.
As per RBI regulations. One can retain the card only if the balance on the card is less than $2000.Else the amount needs to be refunded within 180 days from the date of arrival``. In case refund is not made on time, the card would be suspended and the card holder can face legal action.
You would receive an SMS and Email confirmation as soon as your card is loaded/ reloaded. You can also check your balance on our website using the login ID and password provided for internet banking.
Are there any charges for using a VISA Plus ATM?
As given in charge fee grid, no ATM transaction comes free. There is a transaction fee levied for using ATMs for cash withdrawal Ft balance inquiry. Thus limit use of your card on ATM and use on POS to avoid deduction of any charges.
Will the ATM display foreign exchange rates that one can use before withdrawing cash?
No, ATM will not display foreign exchange rates. Post withdrawal of cash, with figure for amount withdrawn and balance available in card, it is possible to arrive at the exchange rate charged.
No, Partial Withdrawal is not allowed.
In the event of any use of the Card abroad, or any charge that is levied on the Card, the deductions to the amounts for such purpose shall happen in the following order
- First, in case of the use/charge is in a specific currency, the amount shall be deducted from the balance available in the corresponding currency wallet of that currency.
- In the event that no Currency Wallet has been created for that currency, amounts would be deducted from the currency wallet denominated in United States Dollars (USD).
- In the event that there is insufficient balance in any of the currency wallets from which transaction is requested, bank will debit the default currency specified for the product (as USD) or will debit the next wallet in which amount is available. Subsequent wallets will be debited in case of non- availability of funds equal to total amount of transaction requested. Hierarchy in which the subsequent wallet for such debit is decided will follow the Currency Priority set by the customer if any. In case no such priority is set by the customer, the default currency priority will be decided by the bank. Customer may set the priority of currency for debits in aforementioned scenario either by requesting the same at the time of card being issued (on the account opening form) or may set the same himself or herself on the online card access.
1. What is Tax Collected at Source (TCS)?
Tax Collected at Source (TCS) is an income tax collected on all foreign exchange transactions falling under the Liberalised Remittance scheme (LRS) given in the Section 206C of the Income Tax Act 1961.
2. What is the effective date of applicability of the TCS on foreign remittances under LRS?
TCS on foreign exchange transactions under LRS is effective on any remittance transaction under LRS on or after 1st October 2020.
3. What are the different purposes on which the tax collection is applicable?
The tax will be applicable on all foreign exchange transactions that fall under the LRS of RBI.
4. What does new added sections, 206AB and 20CCA entail?
Two new sections 206AB and 206CCA sections mandate tax deduction (section 206AB) or tax collection (section 206CCA) at higher rate in case of certain non-filers (specified persons) with respect to tax deductions and tax collections w.e.f. 1st July 2021. Higher rate is twice the prescribed rate or 5%, whichever is higher.
5. Who is a specified person as per, 206AB and 20CCA sections?
According to new sections 206AB and 206CCA a specified person is someone who necessarily fulfils both the below criterion w.e.f. 1st July 2021:
• Person who has not filed the returns of income for both of the two assessment years relevant to the two previous years immediately before the previous year in which tax is required to be deducted / collected. Two previous years to be counted are required to be those whose return filing date has expired.
• Aggregate of tax deducted at source and tax collected at source is rupees fifty thousand or more in each of these two previous years.
6. What all transactions will be impacted by this TCS provision?
All remittances more than INR 7 lakh in a financial year done under LRS will be liable for TCS as per below table w.e.f. 1st July 2021:
| Category | TCS Rate (Specified person – No) |
TCS Rate (Specified person – Yes) |
|---|---|---|
| Remittance under LRS | 5.00% | 10.00% |
| Remittance under Education Loan | 0.50% | 5.00% |
Below transactions are under the purview of TCS applicability –
• Foreign Exchange transactions under LRS purpose through IndusInd Bank branch or IndusForex.
• Foreign Currency Demand Draft or Cash issuance from domestic resident account under LRS purpose.
• Forex Card purchase and Reloading under LRS purpose through IndusInd Bank branch or IndusForex.
• International transactions, on Debit cards transactions (including transactions done on Foreign Merchants).
7. What is the new tax implication on remittances for pursuing overseas education?
The TCS at 0.5% shall be applicable on the amount exceeding INR 7,00,000 in a financial year under LRS for non-Specified person, if the amount remitted is obtained out of a loan from a Financial Institution for pursuing education. For specified person, the TCS at 5% shall be applicable w.e.f 1st July 2021 for above case.
For this purpose, ‘Financial Institution’ means a banking company to which the Banking Regulation Act, 1949 applies (including any bank or banking institution referred to in section 51 of that Act); or any other financial institution which the Central Government may, by notification in the Official Gazette, specify in this behalf.
In cases where the amount being sent through outward remittance is out of a loan obtained from any financial institution as defined in section 80E for the purpose of pursuing higher education. A financial institution under section 80E refers to any bank operating as per the Banking Regulation Act, 1949 and is in the capacity to provide such a service
E.g. If the total amount remitted under LRS in a financial year is INR 8,00,000 for pursuing overseas education, TCS at 0.5% will be applicable on INR 1,00,000 (INR 8,00,000 - INR 7,00,000).
E.g. If there are multiple remittance of say three transactions of 10 lakhs each, where 1st and 3rd transactions are regular LRS and 2nd one is the Education remittance through Educational Loan, then only that 2nd transaction will be charged at 0.50%
8. What is the tax implication if the amount remitted for pursuing education abroad is from owned funds or out of loans from Non-specified institutions/private parties?
The TCS at 5% shall be applicable on remittances exceeding INR 7 lakhs in a financial year for non-Specified person and at 10% for specified person w.e.f. 1st July 2021.
9. What is the tax implication of remittances for the purchase of overseas tour program package under LRS?
The TCS at 5% will be applicable on the total amount remitted for non-Specified person and 10% for specified person w.e.f from 1st July. The tour operator will collect the TCS on the entire amount irrespective of its value. Bank will not be collecting anything from the Tour operator and it’s Tour Operator’s responsibility to remit the TCS to GOI. For instance, if the amount remitted is INR 2,00,000, the TCS will be applicable on entire INR 2,00,000.
10. Which transactions are included in the threshold limit of INR 7 lakhs, above which the TCS shall be applicable?
All forex transactions under LRS will be included in threshold limit of INR 7 lakhs. However, there is no monetary threshold prescribed for overseas remittance through our program package and the tour operator will collect the TCS on the entire amount irrespective of its value.
11. How threshold limit of INR 7 lakhs would be computed for FY 2020-21?
The TCS on all forex transactions under LRS shall be applicable from 1st October, 2020. However, for tracking the threshold limit of INR 7 lakhs, all forex transactions under LRS made from 1st April, 2021 onwards would be considered for FY 2021-22.
12. Will the TCS be applicable if the foreign exchange facility is availed in Cash / Forex cards?
Yes, TCS will be applied on LRS transactions exceeding INR 7 lakhs if foreign exchange facility is availed of through FCY Cash withdrawal at branches / loading Forex cards, provided the purpose of transaction falls under LRS.
13. What is the applicable TCS if PAN /AADHAR is not updated on Bank's records?
It is mandatory for the resident individual to provide his/her Permanent Account Number (PAN) for all transactions under LRS.
14. Will GST be applied on the TCS amount?
No GST will be applicable on the tax collected as TCS. However, GST will be applicable on the currency conversion, remittance service charge and other charges.
15. If remitter/ customer can avail tax credit of the TCS?
Yes, the remitter / customer can claim credit for the tax collected by the bank while filing for their tax returns as the TCS is deemed to be a payment of tax on behalf of the person from whom the amount has been collected. The said TCS remittance from the Bank’s side will reflect in Form 26AS of the PAN Card holder
16. What if the tour package/educational program etc. is subsequently cancelled or not persuaded?
The bank will not refund the TCS collected by it and paid to Government. However, the credit for the same shall be available to the remitter/customer and they can claim refund by filing income tax returns.
For any further assistance, please contact your Relationship Manager or your nearest branch
17. When was Tax Collected at Source (TCS) introduced?
TCS was introduced in Union Budget in 2020 and was to be applicable from April 1, 2020. However, this was deferred due to on-going COVID-19 pandemic. It came into effect from October 1, 2020. Remittances executed before the effective date was not be part of TCS.
18. Purposes covered under TCS?
All purposes which form part of Liberalized Remittance Scheme (LRS) will be covered under TCS. For example, purposes like maintenance of relatives abroad, gift, education, medical treatment, overseas investments in property and stocks, emigration will come under the tax bracket
19. What is the TCS Rate?
For non-Specified persons, with PAN card linked to Aadhaar, it is 5% of the amount remitted in excess of INR 7,00,000 in a financial year. For Specified persons, with PAN card linked to Aadhaar, it is 10% of the amount remitted in excess of INR 7,00,000 in a financial year. Without PAN card, rate will be 10% & 20% for non-Specified & Specified persons respectively w.e.f. 1st July 2021.
20. Who has the authority to collect tax?
- Authorized Dealer (AD) i.e. Bank who will be remitting money on behalf of remitter will collect the tax and will in turn pay it to the Government
- AD – II players will collect the tax and will in turn pay it to the Government
- Tour Operator will have to collect tax for foreign tours arranged by them and handle TCS on their own before sending net amount for remittance abroad.
21. Are there any exemptions?
- Remittances below INR 7,00,000 in a financial year are exempted from TCS
- Payments for foreign education made from obtaining an education loan from a financial institution in India are subject to 0.50% TCS
- If the remitter books foreign tour on his/her own, it will not be subject to TCS
22. Is TCS applicable on tax paid income?
The TCS can be set off against the overall liability of the tax payer. If parent has already paid tax on the money in question as his or her income and is simply gifting the same to the child, the parent can claim a refund from the TCS
23. Is the customer eligible for any tax rebate?
TCS paid can be adjusted against tax payable when individuals who would have paid TCS file income tax returns (ITR) in India. Please consult your tax advisor/consultant for further information.
24. In case of return of transactions post debit from the account, will the TCS get refunded back?
Please note TCS once deducted cannot be refunded by the bank in case of any return of transaction/remittances. Remitter can approach for refund from tax authority while filing Income Tax Returns or consult with tax advisor for refund/adjustment.
25. Is TCS applicable to NRE / NRO / FCNR Repatriation?
TCS is not applicable on NRE / NRO / FCNR repatriations.
26. The aggregate amount of remittance made by customer during the financial year is INR 500,000. Whether TCS applicable to this customer?
No, since the aggregate amount of remittance made during the financial year is less than INR 700,000, TCS is not applicable to this customer. Further, Aggregate amount refers only to the transactions which are executed directly basis the Individual customers request and only by IndusInd Bank and refers to the cumulative of all Forex transactions be it Branch, Online portal or International debit cards and it includes charges, GST and FCCT GST
27. The aggregate amount of remittance made by customer during the financial year is INR 1,000,000. Whether TCS applicable to this customer?
Yes, since the aggregate amount of remittance made during the financial year is more than INR 700,000, TCS is applicable to this customer. In such case TCS will be applicable @5% on INR 300,000 (on amount exceeding INR 700,000) for non-Specified persons & @10% for specified persons w.e.f. 1st July 2021.
28. The aggregate amount of remittance made by customer up to 30th June 2021 is INR 500,000 and from 1st July 2021 to 31 March 2022 is INR 500,000. Whether TCS applicable to this customer?
Yes, since the aggregate amount of remittance made during the financial year is more than INR 700,000, TCS is applicable to this customer. In such case TCS will be applicable @ 5% on INR 300,000 (on amount exceeding INR 700,000) for non-Specified persons & @10% for specified persons w.e.f. 1st July 2021.
29. The aggregate amount of remittance made by a Specified person up to 30th June 2021 is INR 1,000,000 and from 1st July 2021 to 31 March 2022 is INR 500,000. Whether 10% TCS applicable to this customer?
Yes, since the aggregate amount of remittance made during the financial year is more than INR 700,000, TCS is applicable to this Specific person. In this case TCS will be applicable @ 10% on INR 500,000 w.e.f. 1st July 2021.
30. The aggregate amount of remittance made by a Specified person up to 30th June 2021 is INR 1,000,000. He paid 5% TCS on previous transaction. Whether his residual 5% TCS will be added in his next transaction?
No, in this case TCS would apply, @ 10% only, on every amount remitted on any transaction afterwards for FY 2021-22.
31. A Specified person Mr A has made remittance of USD 20,000 towards education fees out of India out of his loan borrowed from Scheduled Bank (qualified loan under Indian Income Tax Act) after 1st July 2021. Is TCS applicable to this customer and at what rate?
Yes. In this case, since the amount of remittance is INR 14,80,000 (USD 20,000*INR 74) and made toward pursuing education out of India out of loan qualified under the Indian Income Tax Act, TCS @ 10% would apply on the amount exceeding INR 700,000. It is assumed this is the 1st transaction under the PAN Number in the FY 21-22.
32. Customer, the US embassy in India, has made remittance of USD 20,000 for official purpose to USA. Is TCS applicable to this customer?
No. TCS is applicable on remittances made by an embassy, a High Commission, a legation, a commission, a consulate, the trade representation of a foreign State etc.
• Here is the Govt. of India notification on application of TCS w.e.f. 1st October 2020. Click Here
• Here is the Govt. of India notification on application of section 206AB and 206CCA w.e.f. 1st July 2021. Click Here
An Outward Remittance is a transfer of money in foreign exchange, by a resident in India or an NRI to a beneficiary situated within or outside the country (except for Nepal and Bhutan) for a purpose as approved under FEMA (Foreign Exchange Management Act). You may send money abroad to a beneficiary for various purposes including education, employment abroad, emigration, maintenance of close relatives, foreign travel, gifts, medical treatment, donations, etc.
Any resident individual who wants to buy / remit foreign exchange, under Liberalised Remittance Scheme (LRS) can avail forex upto a limit of USD 250,000 per financial year. This limit is available for an individual for both Current Account and Capital Account transactions put together under LRS.
Money can be sent abroad through the following modes:
- Wire Transfer
- Foreign Currency Demand Draft
Yes, it is mandatory for the resident individual to provide his/her Permanent Account Number (PAN) for all transactions under LRS. This is applicable for IBL and Non-IBL Customers.
Below KYC documents are mandatorily required.
- Pan Card copy
- Valid POA – Passport / Aadhaar Card
As per Companies Act, 2013 the below are the eligible relationship
Husband |
Wife |
Father |
Mother |
Step-father |
Step-Mother |
Son |
Stepson |
Son’s Wife |
Daughter |
Daughter’s Husband |
Sister |
Brother |
Step Brother |
Step-Sister |
For Correspondent Bank charges, needs to be converted in to INR equivalent basis the Card Rate and the said INR equivalent should be captured in the “Charges” field in the Mercury FX screen. Correspondent Bank charges are to be taken as per currency and as per different currency slabs.
While sending funds under purpose of Gift, can the beneficiary be an Individual or Overseas Company?
Under purpose for Gift, the beneficiary can be only a Non-Resident Individual. If the beneficiary is a Non-Individual or Resident Individual, such transactions would not be accepted.
Purposes for which Drafts can be issues :
- Basic Travel Quota (BTQ)
- Business Travel
- Education
- Employment
- Immigration
- Medical
- Fee
- Any other valid purpose covered under Retail Forex
Purposes for which Outward Remittances can be done for
- Basic Travel Quota (BTQ)
- Business Travel
- Education
- Employment
- Immigration
- Medical
- Fee
- Purchase of Property Overseas
- Opening of overseas account
- Investment in Shares / MF overseas
- Any other valid purpose covered under Retail Forex
The remittance facility under the Scheme is not available for the following:
- Remittance for any purpose specifically prohibited under Schedule-I (like purchase of lottery tickets/sweep stakes, proscribed magazines, etc.) or any item restricted under Schedule II of Foreign Exchange Management (Current Account Transactions) Rules, 2000.
- Remittance from India for margins or margin calls to overseas exchanges / overseas counterparty.
- Remittances for purchase of FCCBs issued by Indian companies in the overseas secondary market.
- Remittance for trading in foreign exchange abroad.
- Capital account remittances, directly or indirectly, to countries identified by the Financial Action Task Force (FATF) as “non- cooperative countries and territories”, from time to time.
- Remittances directly or indirectly to those individuals and entities identified as posing significant risk of committing acts of terrorism as advised separately by the Reserve Bank to the banks.
For business trips to foreign countries, resident individuals/ individuals having proprietorship firms can avail of foreign exchange up to USD 2,50,000 in a financial year irrespective of the number of visits undertaken during the year. This limit has been subsumed under the Liberalized Remittance Scheme w.e.f. May 26, 2015.
Visits in connection with attending of an international conference, seminar, specialized training, apprentice training, etc., are treated as business visits.
Remittances under the facility can be consolidated in respect of close family members subject to the individual family members complying with the terms and conditions of the LRS.
However, clubbing is not permitted by other family members for capital account transactions such as opening a bank account/investment/purchase of property, if they are not the co-owners/co-partners of the investment/property/overseas bank account.
Further, a resident cannot gift to another resident, in foreign currency, for the credit of the latter’s foreign currency account held abroad under LRS.
A person resident in India can take a life insurance policy by an insurer abroad, with no specific monetary limit, only if the policy is held under the specific or general permission of the Reserve Bank of India. In case of a general insurance policy, the same needs to be held under the general or specific permission of the Central Government.
However, remittance towards premium for Health Insurance policies may be availed of from companies abroad.
Individual travelling abroad either for leisure or business is allowed to carry Foreign Currency Notes up to USD 3000 or equivalent. Balance amount can be taken in form of Forex Travel Card.
If you are travelling to Iraq, Islamic Republic of Iran, Russia or Republics of Commonwealth of Independent States following limits are available for you.
Exceptions |
Limit |
Travellers proceeding to Iraq |
Up to maximum USD 5,000 or its equivalent |
Travellers proceeding to Islamic Republic of Iran, Russian Federation and other Republics of Commonwealth of Independent States |
Up to the entire foreign exchange (up-to USD 250, 000) in the form of foreign currency |
LRS does not allow extension of fund and non-fund based facilities by the AD banks to their resident individual customers to facilitate remittances for capital account transactions under LRS.
However, AD banks may extend fund and non-fund based facilities to resident individuals to facilitate current account remittances under the Scheme.
Dance troupes, artistes, etc., who wish to undertake cultural tours abroad, should obtain prior approval from the Ministry of Human Resources Development (Department of Education and Culture), Government of India, New Delhi
APPLICATION FOR REMITTANCE ABROAD FORM. This form is to be used for request from Resident and Non-Resident customers.
APPLICATION FOR INDUS MULTI CURRENCY CARD FORM. This form will be used for Reload of Multicurrency Card as well.
|
|
Outward Remittance |
Inward Remittance |
Indus Forex Card |
FCY Demand Draft |
FCY Notes (Subject to Availability) |
USD |
US Dollar |
Yes |
Yes |
Yes |
Yes |
Yes |
EUR |
Euro |
Yes |
Yes |
Yes |
Yes |
Yes |
GBP |
Great Britain pound |
Yes |
Yes |
Yes |
Yes |
Yes |
AUD |
Australia Dollar |
Yes |
Yes |
Yes |
Yes |
Yes |
CAD |
Canada Dollar |
Yes |
Yes |
Yes |
Yes |
Yes |
AED |
Arab Emirates Dirham |
Yes |
Yes |
Yes |
|
Yes |
CHF |
Swiss Franc |
Yes |
Yes |
Yes |
|
|
DKK |
Danish Krone |
Yes |
Yes |
|
|
|
HKD |
Hong Kong Dollar |
Yes |
Yes |
Yes |
|
|
JPY/100 |
Japanese Yen |
Yes |
Yes |
Yes |
|
|
NOK |
Norwegian Krone |
Yes |
Yes |
|
|
|
NZD |
New Zealand Dollar |
Yes |
Yes |
Yes |
Yes |
|
SAR |
Saudi Riyal |
Yes |
Yes |
Yes |
|
Yes |
SEK |
Swedish Krone |
Yes |
Yes |
|
|
|
SGD |
Singapore Dollar |
Yes |
Yes |
Yes |
Yes |
Yes |
ZAR |
South African Rand |
Yes |
Yes |
Yes |
|
|
THB |
Thai Bhat |
|
|
Yes |
|
|
Yes, for issuance of Indus Multicurrency Card Passport number and Expiry date is mandatory to be captured in the form.
You do not need to have an account relationship with IndusInd Bank to purchase a Indus Multicurrency Card. Simply login to www.indusforex.com or walk into a designated IndusInd Bank branch and purchase a Indus Multicurrency Card over the counter.
The usage of your Multi-Currency Forex Card should be in strict accordance with the regulations of the Reserve Bank of India and FEMA regulations. The amount loaded or reloaded on a card should be done as per the foreign Exchange Management Act, 1999 and prevailing RBI regulations in force.
You can commence the usage of the card once the same is activated. The card activation takes one business day.
Please refer to the Forex Card Handbook for process.
Your PIN (Personal Identification Number) is a unique 4-digit secure number assigned to your Card and known only to you. It allows you to withdraw cash from VISA/ VISA Plus ATMs worldwide.
It is possible to change your PIN by logging in to IndusForex under section Manage Your Card.
Yes, Indus Multicurrency Card can be swiped directly for payments at merchant establishments that accept VISA.
No, there is no transaction fee incurred for swiping your card for payments at merchant establishments.
The PIN is not required to process transactions done through swiping your card at merchant establishments. Do not share your PIN even if requested.
INR 5 lacs equivalent in Foreign Currency per day combined for both POS / ATM withdrawal transactions.
NRE account balances are freely repatriable. There is no limit specified for outward remittances from such accounts.
Outward remittances from NRO a/c are permissible subject to satisfying the documentation requirements
For making an outward remittance from your NRO account, please walk into any IndusInd Bank branch in India and initiate the outward remittance by filling up APPLICATION FOR REMITTANCE ABROAD FORM specifying the necessary details. In addition to this, you have to provide documentary proof of the source of the funds sought to be remitted and C.A. Certificate in Form 15CA and 15CB.
The formats and submission details are available at the website of the Income Tax Department.
Subject to a limitation of USD 1,000,000, you can repatriate your current income for the current financial year. Current year is the financial year in which the remittance is sought to be made. Balances in the NRO account arising out of capital receipts can also be repatriated upto the above limit.
Form 15 CB needs to be certified by a Chartered Accountant. Form 15 CA has to be filled in online at the website of the Income Tax Department. The printout generated from this site has to then be signed by the remitter and submitted along with Form 15CB at the branch from where the remittance is being made. The detailed process of filling up the form is also available at the Income Tax Department website. The filled up form then needs to be produced along with the 15 CB to the branch.
Steps to be followed to file Form 15CA online
- Login to: https://incometaxindiaefiling.gov.in
- Go to e-filling log in page
- Input user ID ( PAN of Remitter) and password
- After login, go to sub option: E file – Prepare and Submit Online Form ( other than ITR)
- Select form type – 15CA
- Instructions are given to fill the 15CA form
- The online form is available in two parts – Part A and Part B
- Complete the respective applicable PART either PART A or PART B (as required)
- Once the Form 15CA is filled, verify and submit
- Go to My account- My Returns/Forms. It will show all the returns and Forms submitted
- Click on the 15CA form and take a print along with the acknowledgment Slip
- Form 15CA duly printed should be signed by Remitter and submitted to Bank in duplicate
Customer can do online transaction for purchase of Indus MultiCurrency Forex Card and currency notes, reload of Indus Multicurrency Forex card and outward remittance. Additionally, customers traveling abroad can purchase a travel insurance policy while booking their Forex.
On IndusForex, you can:
- Buy Forex – Purchase of Currency Notes / Indus MultiCurrency Forex Card
- Reload Card – Reload your Indus MultiCurrency Forex Card
- Send Money Abroad – Through Telegraphic Transfer/ Wire transfer
- You can purchase minimum 100 $ or equivalent and maximum 10000 $ or equivalent for Forex card
- You can book minimum 500 $ or equivalent and maximum 3000 $ or equivalent for currency notes
- You can transfer minimum 100 $ or equivalent and maximum 25000 $ or equivalent via wire transfer
As per FEMA, you can do Forex transactions worth USD 2,50,000 or equivalent in a financial year.
Any resident Indian with a valid PAN and Indian mobile number can transact on IndusForex
No, even if you are not holding an account with IndusInd Bank, you can transact on IndusForex
You can send money abroad from IndusForex for the following purposes: Overseas Education, Medical, Employment, Immigration, Visa Fees, Family Maintenance and GIFT.
You can buy Indus Multicurrency Forex card for following purposes: Leisure Travel, Overseas Education, Medical, Employment and Immigration
Purpose |
Currency Notes |
Multicurrency Forex Card Purchase |
Multicurrency Forex Card Reload |
Outward Remittance |
Leisure Travel |
Yes |
Yes |
Yes |
No |
Employment |
No |
Yes |
Yes |
Yes |
Immigration |
No |
Yes |
Yes |
Yes |
Visa Fees |
No |
No |
No |
Yes |
Education |
No |
Yes |
Yes |
Yes |
Maintenance |
No |
No |
No |
Yes |
Gift |
No |
No |
No |
Yes |
Medical |
No |
Yes |
Yes |
Yes |
- You should have a valid PAN in your Name and a valid mobile number
- Your FEMA limit for the FY should not be breached beyond USD 2,50,000
- The transaction on IndusForex should be done by the traveller/ remitter only
A close relative cannot fund a Forex transaction on IndusForex. Customer can walk into an IndusInd bank branch and carry out the same.
- Build your order – select the service you want (Buy Forex Card, Reload Forex Card or Send Money Abroad). Add currency and amount in your order wallet.
- Enter personal details and travel/ beneficiary details – You can pre-fill your details basis IndusInd savings account relationship, past purchase on IndusForex or through Aadhaar.
- Select processing/ delivery mode and upload required documents – basis your order, you can select your mode of processing (processing at IndusInd Bank branch or online processing)
- Confirm your order and book your Forex rate by paying 5% of token amount.
- Complete your order - remaining amount needs to be paid by online NEFT/RTGS/IMPS to IndusInd Bank account within 24 hours of order booking.
IndusForex offers you best Forex rates online. The rates available while order building are basis the live market data feed. The final rate applicable at time of order confirmation will be taken as final. Order will be booked on live rates prevalent at order confirmation stag
All Individual Savings Account holder of IndusInd Bank or any customer who has completed a transaction through indusforex.indusind.com earlier can reorder on IndusForex basis past transaction.
You should keep a buffer of atleast 2 working days before your travel date to book Forex on IndusForex.
You can pick up your Forex card from IndusInd Bank Branch or get it delivered by courier at your preferred location.
Currency notes are only available for pick up at IndusInd Bank branch.
Yes, you can change the delivery address of Forex while selecting your mode of delivery.
You can collect your card from the nearest IndusInd Branch in a nearby city. You can also get it delivered by courier at your location.
IndusForex is available in 400+ cities across India. For the complete list of cities where we are operating, click here.
Online processing is the fastest and most convenient way of order processing on IndusForex. You'll need to verify your Aadhaar no. and e-sign the order to get a complete online experience.
Benefits to you:
- No need to visit an IndusInd branch for document verification
- Experience faster order completion - Get your order processed within 24 hours
- No paperwork involved, it all happens online.
How does it work?
- Add your Aadhaar no.
- You'll receive an OTP on your registered mobile number with Aadhaar
- You e-sign your documents on the basis of the OTP validation
- If everything is in order, we complete your transaction online, no questions asked!
You need to have your valid Aadhaar number, your active mobile number linked to aadhaar number and an order value of less than $10,000/ $25,000 or equivalent for Forex/ wire transfer respectively.
Yes, if you fulfil the above criteria of online processing, any customer can avail the online processing mode.
No, you can avail the online processing mode only if you e-sign your order basis aadhaar number OTP validation.
IndusInd bank account holders don’t need to upload any document for IndusForex transaction.
Non IndusInd account holders need to provide PAN Card copy and Address proof for the address mentioned under Personal Details.
No, document upload online is mandatory for order processing of all orders on IndusForex. Though, you need to carry your original documents as uploaded to the branch for verification for branch pick up orders.
No, order processing will start only post upload of all mandatory documents on IndusForex
Following payment modes are available on IndusForex:
- 100% Payment through IndusNet or IndusInd Debit Card for Savings Account holders of IndusInd Bank
- 5% Payment through Payment Gateway for any customer including IndusInd Customers
Yes, as per FEMA guideline, funds for Forex transactions should be paid by the account of remitter/ traveller only failing which the transaction is bound to be cancelled. A relative or friend cannot make payment on your behalf on IndusForex.
No, payment needs to be made via online NEFT/ RTGS/ IMPS only to the said IndusInd Bank account.
You can book the Forex rate by paying 5% amount and make 95% payment later. Forex rates are subject to change, hence you can book your Forex rate by paying a small token amount.
No, only after payment of 95% amount order processing will start. If 95% payment is not received within 24 hrs of Forex booking, Forex order can be cancelled by the bank.
- Make 95% payment via online NEFT/ RTGS/ IMPS to IndusInd account no.: 00993564615325 IFSC code: INDB0000001 within 24 hours of making 5% payment.
- Go to My Orders page on IndusForex, login with your mobile no. & PAN and go to order tracking
- Upload the documents under my orders section (if not already done)
- Update the successful NEFT/ RTGS/ IMPS transaction no.
- Check your order status on ‘my order’ page. If it shows ‘Under Processing’, we’ll process and complete your order
95% payment needs to be completed within 24 hrs of making 5% payment online
After 2 days of rate booking, your order will be cancelled by the bank if 95% payment transaction no. is not received by the bank.
Check your order stage under ‘order tracking’, it should show order ‘under processing’ or ‘order authorised’. Otherwise it will show pending tasks.
You can check the branch details for your Forex order for branch contact information through Track your Order Page, or the same can be checked on the E-mail sent by the bank.
You can get in touch for your order at 1860 267 7777 / 022 44066666 or email.
You can buy travel insurance on indusforex.com while purchasing forex for your international trip. It is a simple 'one click buy' to secure your travel in case of any exigencies.
- You can buy travel insurance while buying forex card and currency notes on indusforex.com
- You can take insurance for any travel purpose within the above product categories like leisure travel, business travel, education travel etc.
While buying forex from indusforex.com, you will be shown the insurance offer and policy details, along with premium to be paid for your trip. You can chose to buy the insurance policy within the same forex order. Once premium payment is confirmed at our end, the policy will be sent on your email within few minutes.
You can pay the policy premium along with your forex order in the same bill with any of the given modes – debit card, credit card, internet banking. If you are paying only 5% of forex order initially, the insurance premium need to be paid in full along with 5% of forex value.
The policy premium will be taken along with 5% forex amount and the policy will be generated right after this payment is successful.
You can buy travel insurance to any country of travel as filled in your forex order. The policy is eligible only for the country you are travelling to.
You need not provide any extra detail for travel insurance on indusforex. Your travel details as provided in indusforex should be correct to ensure validity of the insurance policy.
For now, the travel insurance on indusforex can only be bought for the traveller who is buying the forex amount.
The policy has a sum insured of 50,000 $ or 30,000 € as per the travel location. The general benefits in the policy are:
- Hospitalization expenses including out-patient and in-patient care
- Double sum insured in case of hospitalization due to accident
- Treatment in home country upto 30 days after returning from trip
- Daily allowance in case of hospitalization upto a maximum of 5 days
- Payment of family member visiting the person insured
- Upgrade to business class post discharge from hospital
- Dental expenses and medical evacuation covered
- Compensate for financial loss in case of trip cancellation & interruption (wholly or in part) and trip delay
- Payment towards cost incurred due to loss of passport, loss/ delay in checked in baggage
- Please note, Pre-existing diseases are not covered under this policy when purchasing from IndusForex
You need to be aware of and adhere to the following:
- The insurance policy is applicable only for the travel period, travel country and the traveller as per the forex order.
- The traveller should not have any pre-existing diseases as per the insurance norms
- You have not been diagnosed/ hospitalized or under any treatment for any illness/ injury in the last 48 months
- You have never filed claim under any insurance policy
You can cancel the insurance policy before the start of your travel date by contacting Religare customer care @ 1800 200 4488/ customerfirst@religarehealthinsurance.com
In case of queries or support, contact Religare customer care @ 1800 200 4488/ customerfirst@religarehealthinsurance.com or click here.
1. What is Tax Collected at Source (TCS)?
Tax Collected at Source (TCS) is an income tax collected on all foreign exchange transactions falling under the Liberalised Remittance scheme (LRS) given in the Section 206C of the Income Tax Act 1961.
2. What is the effective date of applicability of the TCS on foreign remittances under LRS?
TCS on foreign exchange transactions under LRS is effective on any remittance transaction under LRS on or after 1st October 2020.
3. What are the different purposes on which the tax collection is applicable?
The tax will be applicable on all foreign exchange transactions that fall under the LRS of RBI.
4. What does new added sections, 206AB and 20CCA entail?
Two new sections 206AB and 206CCA sections mandate tax deduction (section 206AB) or tax collection (section 206CCA) at higher rate in case of certain non-filers (specified persons) with respect to tax deductions and tax collections w.e.f. 1st July 2021. Higher rate is twice the prescribed rate or 5%, whichever is higher.
5. Who is a specified person as per, 206AB and 20CCA sections?
According to new sections 206AB and 206CCA a specified person is someone who necessarily fulfils both the below criterion w.e.f. 1st July 2021:
• Person who has not filed the returns of income for both of the two assessment years relevant to the two previous years immediately before the previous year in which tax is required to be deducted / collected. Two previous years to be counted are required to be those whose return filing date has expired.
• Aggregate of tax deducted at source and tax collected at source is rupees fifty thousand or more in each of these two previous years.
6. What all transactions will be impacted by this TCS provision?
All remittances more than INR 7 lakh in a financial year done under LRS will be liable for TCS as per below table w.e.f. 1st July 2021:
| Category | TCS Rate (Specified person – No) |
TCS Rate (Specified person – Yes) |
|---|---|---|
| Remittance under LRS | 5.00% | 10.00% |
| Remittance under Education Loan | 0.50% | 5.00% |
Below transactions are under the purview of TCS applicability –
• Foreign Exchange transactions under LRS purpose through IndusInd Bank branch or IndusForex.
• Foreign Currency Demand Draft or Cash issuance from domestic resident account under LRS purpose.
• Forex Card purchase and Reloading under LRS purpose through IndusInd Bank branch or IndusForex.
• International transactions, on Debit cards transactions (including transactions done on Foreign Merchants).
7. What is the new tax implication on remittances for pursuing overseas education?
The TCS at 0.5% shall be applicable on the amount exceeding INR 7,00,000 in a financial year under LRS for non-Specified person, if the amount remitted is obtained out of a loan from a Financial Institution for pursuing education. For specified person, the TCS at 5% shall be applicable w.e.f 1st July 2021 for above case.
For this purpose, ‘Financial Institution’ means a banking company to which the Banking Regulation Act, 1949 applies (including any bank or banking institution referred to in section 51 of that Act); or any other financial institution which the Central Government may, by notification in the Official Gazette, specify in this behalf.
In cases where the amount being sent through outward remittance is out of a loan obtained from any financial institution as defined in section 80E for the purpose of pursuing higher education. A financial institution under section 80E refers to any bank operating as per the Banking Regulation Act, 1949 and is in the capacity to provide such a service
E.g. If the total amount remitted under LRS in a financial year is INR 8,00,000 for pursuing overseas education, TCS at 0.5% will be applicable on INR 1,00,000 (INR 8,00,000 - INR 7,00,000).
E.g. If there are multiple remittance of say three transactions of 10 lakhs each, where 1st and 3rd transactions are regular LRS and 2nd one is the Education remittance through Educational Loan, then only that 2nd transaction will be charged at 0.50%
8. What is the tax implication if the amount remitted for pursuing education abroad is from owned funds or out of loans from Non-specified institutions/private parties?
The TCS at 5% shall be applicable on remittances exceeding INR 7 lakhs in a financial year for non-Specified person and at 10% for specified person w.e.f. 1st July 2021.
9. What is the tax implication of remittances for the purchase of overseas tour program package under LRS?
The TCS at 5% will be applicable on the total amount remitted for non-Specified person and 10% for specified person w.e.f from 1st July. The tour operator will collect the TCS on the entire amount irrespective of its value. Bank will not be collecting anything from the Tour operator and it’s Tour Operator’s responsibility to remit the TCS to GOI. For instance, if the amount remitted is INR 2,00,000, the TCS will be applicable on entire INR 2,00,000.
10. Which transactions are included in the threshold limit of INR 7 lakhs, above which the TCS shall be applicable?
All forex transactions under LRS will be included in threshold limit of INR 7 lakhs. However, there is no monetary threshold prescribed for overseas remittance through our program package and the tour operator will collect the TCS on the entire amount irrespective of its value.
11. How threshold limit of INR 7 lakhs would be computed for FY 2020-21?
The TCS on all forex transactions under LRS shall be applicable from 1st October, 2020. However, for tracking the threshold limit of INR 7 lakhs, all forex transactions under LRS made from 1st April, 2021 onwards would be considered for FY 2021-22.
12. Will the TCS be applicable if the foreign exchange facility is availed in Cash / Forex cards?
Yes, TCS will be applied on LRS transactions exceeding INR 7 lakhs if foreign exchange facility is availed of through FCY Cash withdrawal at branches / loading Forex cards, provided the purpose of transaction falls under LRS.
13. What is the applicable TCS if PAN /AADHAR is not updated on Bank's records?
It is mandatory for the resident individual to provide his/her Permanent Account Number (PAN) for all transactions under LRS.
14. Will GST be applied on the TCS amount?
No GST will be applicable on the tax collected as TCS. However, GST will be applicable on the currency conversion, remittance service charge and other charges.
15. If remitter/ customer can avail tax credit of the TCS?
Yes, the remitter / customer can claim credit for the tax collected by the bank while filing for their tax returns as the TCS is deemed to be a payment of tax on behalf of the person from whom the amount has been collected. The said TCS remittance from the Bank’s side will reflect in Form 26AS of the PAN Card holder
16. What if the tour package/educational program etc. is subsequently cancelled or not persuaded?
The bank will not refund the TCS collected by it and paid to Government. However, the credit for the same shall be available to the remitter/customer and they can claim refund by filing income tax returns.
For any further assistance, please contact your Relationship Manager or your nearest branch
17. When was Tax Collected at Source (TCS) introduced?
TCS was introduced in Union Budget in 2020 and was to be applicable from April 1, 2020. However, this was deferred due to on-going COVID-19 pandemic. It came into effect from October 1, 2020. Remittances executed before the effective date was not be part of TCS.
18. Purposes covered under TCS?
All purposes which form part of Liberalized Remittance Scheme (LRS) will be covered under TCS. For example, purposes like maintenance of relatives abroad, gift, education, medical treatment, overseas investments in property and stocks, emigration will come under the tax bracket
19. What is the TCS Rate?
For non-Specified persons, with PAN card linked to Aadhaar, it is 5% of the amount remitted in excess of INR 7,00,000 in a financial year. For Specified persons, with PAN card linked to Aadhaar, it is 10% of the amount remitted in excess of INR 7,00,000 in a financial year. Without PAN card, rate will be 10% & 20% for non-Specified & Specified persons respectively w.e.f. 1st July 2021.
20. Who has the authority to collect tax?
- Authorized Dealer (AD) i.e. Bank who will be remitting money on behalf of remitter will collect the tax and will in turn pay it to the Government
- AD – II players will collect the tax and will in turn pay it to the Government
- Tour Operator will have to collect tax for foreign tours arranged by them and handle TCS on their own before sending net amount for remittance abroad.
21. Are there any exemptions?
- Remittances below INR 7,00,000 in a financial year are exempted from TCS
- Payments for foreign education made from obtaining an education loan from a financial institution in India are subject to 0.50% TCS
- If the remitter books foreign tour on his/her own, it will not be subject to TCS
22. Is TCS applicable on tax paid income?
The TCS can be set off against the overall liability of the tax payer. If parent has already paid tax on the money in question as his or her income and is simply gifting the same to the child, the parent can claim a refund from the TCS
23. Is the customer eligible for any tax rebate?
TCS paid can be adjusted against tax payable when individuals who would have paid TCS file income tax returns (ITR) in India. Please consult your tax advisor/consultant for further information.
24. In case of return of transactions post debit from the account, will the TCS get refunded back?
Please note TCS once deducted cannot be refunded by the bank in case of any return of transaction/remittances. Remitter can approach for refund from tax authority while filing Income Tax Returns or consult with tax advisor for refund/adjustment.
25. Is TCS applicable to NRE / NRO / FCNR Repatriation?
TCS is not applicable on NRE / NRO / FCNR repatriations.
26. The aggregate amount of remittance made by customer during the financial year is INR 500,000. Whether TCS applicable to this customer?
No, since the aggregate amount of remittance made during the financial year is less than INR 700,000, TCS is not applicable to this customer. Further, Aggregate amount refers only to the transactions which are executed directly basis the Individual customers request and only by IndusInd Bank and refers to the cumulative of all Forex transactions be it Branch, Online portal or International debit cards and it includes charges, GST and FCCT GST
27. The aggregate amount of remittance made by customer during the financial year is INR 1,000,000. Whether TCS applicable to this customer?
Yes, since the aggregate amount of remittance made during the financial year is more than INR 700,000, TCS is applicable to this customer. In such case TCS will be applicable @5% on INR 300,000 (on amount exceeding INR 700,000) for non-Specified persons & @10% for specified persons w.e.f. 1st July 2021.
28. The aggregate amount of remittance made by customer up to 30th June 2021 is INR 500,000 and from 1st July 2021 to 31 March 2022 is INR 500,000. Whether TCS applicable to this customer?
Yes, since the aggregate amount of remittance made during the financial year is more than INR 700,000, TCS is applicable to this customer. In such case TCS will be applicable @ 5% on INR 300,000 (on amount exceeding INR 700,000) for non-Specified persons & @10% for specified persons w.e.f. 1st July 2021.
29. The aggregate amount of remittance made by a Specified person up to 30th June 2021 is INR 1,000,000 and from 1st July 2021 to 31 March 2022 is INR 500,000. Whether 10% TCS applicable to this customer?
Yes, since the aggregate amount of remittance made during the financial year is more than INR 700,000, TCS is applicable to this Specific person. In this case TCS will be applicable @ 10% on INR 500,000 w.e.f. 1st July 2021.
30. The aggregate amount of remittance made by a Specified person up to 30th June 2021 is INR 1,000,000. He paid 5% TCS on previous transaction. Whether his residual 5% TCS will be added in his next transaction?
No, in this case TCS would apply, @ 10% only, on every amount remitted on any transaction afterwards for FY 2021-22.
31. A Specified person Mr A has made remittance of USD 20,000 towards education fees out of India out of his loan borrowed from Scheduled Bank (qualified loan under Indian Income Tax Act) after 1st July 2021. Is TCS applicable to this customer and at what rate?
Yes. In this case, since the amount of remittance is INR 14,80,000 (USD 20,000*INR 74) and made toward pursuing education out of India out of loan qualified under the Indian Income Tax Act, TCS @ 10% would apply on the amount exceeding INR 700,000. It is assumed this is the 1st transaction under the PAN Number in the FY 21-22.
32. Customer, the US embassy in India, has made remittance of USD 20,000 for official purpose to USA. Is TCS applicable to this customer?
No. TCS is applicable on remittances made by an embassy, a High Commission, a legation, a commission, a consulate, the trade representation of a foreign State etc.
• Here is the Govt. of India notification on application of TCS w.e.f. 1st October 2020. Click Here
• Here is the Govt. of India notification on application of section 206AB and 206CCA w.e.f. 1st July 2021. Click Here
Investor, who has remitted funds under LRS can retain, reinvest the income earned on the investments. The received/realised/unspent/unused foreign exchange, unless reinvested, shall be repatriated and surrendered to an authorised person within a period of 180 days from the date of such receipt/ realisation/ purchase/ acquisition or date of return to India, as the case may be, in accordance with Regulation 7 of Foreign Exchange Management (Realisation, repatriation and surrender of foreign exchange) Regulations, 2015 [Notification No. FEMA 9(R)/2015-RB]13.
However, a resident individual who has made overseas direct investment in accordance with FEMA provisions, shall have to comply with the provisions contained in Foreign Exchange Management (Overseas Investment) Rules, 2022, Foreign Exchange Management (Overseas Investment) Regulations, 2022 and Foreign Exchange Management (Overseas Investment) Directions, 2022.
These offers are brought to you by Visa and comprise of shopping and Business privileges. For details, please visit www.indusind.com
As an IndusInd Bank Visa Contactless Business Cardholder, you are entitled to all the discounts and privileges offered under the Visa Program. However, you need to specifically ask the Visa partner for the offer to avail the same. You have the choice to make transactions at Visa Program Partner outlets without availing the offers.
No. The offers made under the Visa Program cannot be clubbed with any other offer/ scheme or promotion that any of the Program Partners may extend to its customers.
- Immediately call IndusInd Bank 24-Hour Phone Banking Number 1860 267 7777 and report the loss / theft of your Card
- File a Police Report (First Information Report - FIR) for the lost/stolen Business Card and send us a copy of the attested FIR
- Send the bank a signed letter confirming the loss of your card along with a description of the incident
- Statement highlighting the transaction that you have not authorized, if any.
- Completed Customer Dispute Form
You need to submit the following documents to IndusInd Bank:
- Duly filled All Risk Claim Form
- Customer Dispute Form
- Billing Statement
- Attested FIR
An EMV Chip & PIN Business Card is a Business Card with an embedded microchip. This microchip stores the Card member information and the PIN in an encrypted format. This PIN is known only to the Cardholder thus providing enhanced security against possible misuse. The EMV Chip & PIN is a superior level of security on your Business Card, in line with best global practices. It thus provides an additional layer of safety against counterfeit and skimming related fraud.
When you use an EMV Chip & PIN Business Card at a POS terminal which is enabled for PIN Transactions, the POS machine will prompt you to enter a 4-digit PIN. Once you enter the correct Business Card PIN in the terminal, your transaction will be approved.
Please follow the below process for a successful transaction:
- Step1: The merchant inserts your Business Card in the Card slot at a PIN enabled POS terminal and enters the transaction amount
- Step 2: The POS machine prompts for a 4-digit PIN to be entered by the Cardholder.
- Step 3: On entering the correct Business Card PIN in the machine, the transaction is approved.
At POS terminals, which do not support the PIN authentication, your EMV Chip Business Card needs to be inserted in the Chip slot and your transaction will be completed as it is done today.
At POS terminals, which do not support an EMV Chip Business Card, the Card can be swiped at the merchant terminal and your transaction will be completed as it is done today.
If the POS terminal (Domestic or International) is enabled for PIN authentication, you will be asked to enter your PIN for successful completion of your transaction.
You will be given 3 attempts to enter the correct PIN, post which your PIN will be blocked and your transaction will get declined.
If you have forgotten your PIN, please request for a new PIN at our helpline number 1860 267 7777 or generate it instantly on our website www.indusind.com under Quick Links>Credit Card Related>Generate Credit Card PIN
At the time of issue of your EMV Chip & PIN Business Card, the PIN will be dispatched to you separately at your registered mailing address. Alternatively, you can generate PIN through Interactive Voice Response (IVR) on our helpline number 1860 267 7777 or on our website www.indusind.com under Quick Links>Credit Card Related>Generate Credit Card
Please use this PIN at POS terminals to complete your transactions.
No, the Business Card and the PIN will be dispatched to you separately at your registered mailing address on placing a request for a physical PIN by calling our helpline number 1860 267 7777.
Alternately, you can generate PIN through Interactive Voice Response (IVR) on our helpline number 1860 267 7777 or on our website www.indusind.com under Quick Links>Credit Card Related>Generate Credit Card
You have the following options to reset your PIN:
- Option 1: You can set a new PIN instantly on our website www.indusind.com under Quick Links>Credit Card Related>Generate Credit Card PIN.
- Option 2: You can also place a request to dispatch the PIN at your mailing address by calling our helpline number 1860 267 7777.
- Option 3: You can generate a new PIN on our automated Interactive Voice Response System (IVR) by calling 1860 267 7777.
Yes. IndusInd Bank EMV Business Cards can be used at any merchants around the world where your Business Card is accepted today.
Transactions made online or over the phone with your IndusInd Bank Business EMV Chip and PIN Card would continue to be conducted in the same way as with Cards without a Chip. Online transactions may be conducted using IBL e-Secure/Verified by Visa (VBV) password or the One Time Password (OTP) authentication for transactions. You can also conduct transactions over the IVR/telephone using the OTP.
A compromise of your card means the card information has been copied and a fraudster is trying to access your account. As of now, we have not observed any compromise of a chip Business Card as the security chip makes it difficult to copy the Business Card details. This would be possible only if you continue to swipe the magnetic stripe of your IndusInd Bank EMV Business Card at a merchant terminal instead of inserting the chip card to complete your transaction.
Most of the merchants have chip-enabled terminals. In case the merchant doesn’t have chip enabled terminal, the card can be swiped for transactions.
All payments are to be made in Indian Rupees only. You can make payments towards your Card usage through any of the following options:
- Using the "Swift Pay" option or the Credit Card Quick Pay option on www.indusind.com to pay from any bank account
- Online Funds transfer from a non-IndusInd Bank account using NEFT/RTGS/Visa Money Transfer facility
- Cheque/Draft favouring IndusInd Bank Credit Card No. XXXXXXXXXXXXXXXX deposited at IndusInd Bank Branches/ATMs. You are advised to drop cheques at least 4 working days prior to the payment due date to ensure timely credit to your Card account and avoid levy of penal charges. Please mention your mobile number on the reverse of the cheque, we shall send you an SMS on receipt of your cheque.
- Cash deposit at IndusInd Bank branches.
- By activating Auto Payment Facility on your IndusInd Bank account or through NACH facility on your non IndusInd Bank account. Contact Phone Banking for more details.
Payment received against card outstanding will be adjusted against all EMIs, Taxes, Fees, Other charges, Interest Charges, Cash Advance and Purchase, in that order.
Interest charges are levied if Total Amount Due is not paid off by due date and Late Payment charges are applicable if the minimum due amount is not paid by the due date. The minimum amount due for a Business Card is 10% of the Total Amount Due. Over limit charges are applicable if the total outstanding dues on the credit card exceeds the assigned credit limit.
The grace period is only available on retail transactions if there is no outstanding amount payable on the Credit Card. In case your previous credit card bill is due, all fresh purchases will attract interest from the date of purchase.
The IndusInd Bank EMV Business Card should withstand normal wear & tear and the chip should last as long as the card is valid. However, you should take steps to ensure your card is protected to ensure longevity.
Please report the loss to us immediately on 1860 267 7777 / +91 22 4220 7777 and our Phone Banking officers will block your Business Card immediately.
Near Field Communication or NFC is a method of wirelessly transmitting data using radio waves. Tap to Pay uses NFC to wirelessly transmit payment data to payment terminals with NFC readers that have been activated for use. The payment information is transmitted in an encrypted format making the transaction completely secure.
You can follow the below steps to make payments with your Contactless Card:
Look for the Visa Contactless logo at the POS machine
Tap your Contactless Card at the POS machine (the card should be held at less than 4 cm from the POS machine).
Four green indicator lights or a beep sound will indicate that the transaction is complete. A message will also be displayed on the screen indicating the transaction is complete. You will receive an SMS on your registered mobile number with the details of the transaction. No PIN is required for transaction amount of less than ₹5000* (*Subject to change as per RBI guidelines).
You can make faster payments as there is no need for dipping, swiping, entering card PIN or fumbling for cash.
During a contactless transaction, the card never leaves your hand. This greatly reduces the risk of card loss and fraud through counterfeit/skimming.
A Visa Contactless Card has its own, unique, built-in, secret key, which is used to generate a unique code for every Visa Contactless transaction, thus making it more secure.
Yes, there is a daily limit of 5 contactless transactions, which means payments through contactless mode is allowed for maximum amount of ₹25,000 in a day, with maximum capping of every transaction at ₹5000. For any transaction of amount more than ₹5,000, you would have to dip or swipe your credit card and enter the 4-digit PIN to authenticate the transaction.
You can make payments through the contactless mode at all the merchants having NFC enabled POS machines. Just look for the contactless symbol at the POS machine to make the contactless payments. You can also use your Contactless Card to make payments by swiping/dipping your card & entering the 4-digit PIN at the merchants.
Yes, for the merchants that not enabled for contactless payments, you can use transact by swiping or dipping your card & entering the 4-digit PIN.
No, contactless POS machine communicates with one card at a time. In case at the merchant outlet, the POS machine identifies more than one contactless card in your wallet or purse, you will be asked to select the card with which you would like to pay.
No, your card should be present within 4 cm of the POS machine for more than half a second and the retailer must enter the transaction amount for you to approve. Also, the POS machines can process only one transaction at a time, therefore reducing transaction errors.
Yes, Businesses are eligible for Reward points on each and every transaction done through their Business cards on both online and offline mode.
These offers are brought to you by Visa and comprise of shopping and Business privileges. For details, please visit www.indusind.com
As an IndusInd Bank Visa Contactless Business Cardholder, you are entitled to all the discounts and privileges offered under the Visa Program. However, you need to specifically ask the Visa partner for the offer to avail the same. You have the choice to make transactions at Visa Program Partner outlets without availing the offers.
No. The offers made under the Visa Program cannot be clubbed with any other offer/ scheme or promotion that any of the Program Partners may extend to its customers.
- Immediately call IndusInd Bank 24-Hour Phone Banking Number 1860 267 7777 and report the loss / theft of your Card
- File a Police Report (First Information Report - FIR) for the lost/stolen Business Card and send us a copy of the attested FIR
- Send the bank a signed letter confirming the loss of your card along with a description of the incident
- Statement highlighting the transaction that you have not authorized, if any.
- Completed Customer Dispute Form
You need to submit the following documents to IndusInd Bank:
- Duly filled All Risk Claim Form
- Customer Dispute Form
- Billing Statement
- Attested FIR
An EMV Chip & PIN Business Card is a Business Card with an embedded microchip. This microchip stores the Card member information and the PIN in an encrypted format. This PIN is known only to the Cardholder thus providing enhanced security against possible misuse. The EMV Chip & PIN is a superior level of security on your Business Card, in line with best global practices. It thus provides an additional layer of safety against counterfeit and skimming related fraud.
When you use an EMV Chip & PIN Business Card at a POS terminal which is enabled for PIN Transactions, the POS machine will prompt you to enter a 4-digit PIN. Once you enter the correct Business Card PIN in the terminal, your transaction will be approved.
Please follow the below process for a successful transaction:
- Step1: The merchant inserts your Business Card in the Card slot at a PIN enabled POS terminal and enters the transaction amount
- Step 2: The POS machine prompts for a 4-digit PIN to be entered by the Cardholder.
- Step 3: On entering the correct Business Card PIN in the machine, the transaction is approved.
At POS terminals, which do not support the PIN authentication, your EMV Chip Business Card needs to be inserted in the Chip slot and your transaction will be completed as it is done today.
At POS terminals, which do not support an EMV Chip Business Card, the Card can be swiped at the merchant terminal and your transaction will be completed as it is done today.
If the POS terminal (Domestic or International) is enabled for PIN authentication, you will be asked to enter your PIN for successful completion of your transaction.
You will be given 3 attempts to enter the correct PIN, post which your PIN will be blocked and your transaction will get declined.
If you have forgotten your PIN, please request for a new PIN at our helpline number 1860 267 7777 or generate it instantly on our website www.indusind.com under Quick Links>Credit Card Related>Generate Credit Card PIN
At the time of issue of your EMV Chip & PIN Business Card, the PIN will be dispatched to you separately at your registered mailing address. Alternatively, you can generate PIN through Interactive Voice Response (IVR) on our helpline number 1860 267 7777 or on our website www.indusind.com under Quick Links>Credit Card Related>Generate Credit Card
Please use this PIN at POS terminals to complete your transactions.
No, the Business Card and the PIN will be dispatched to you separately at your registered mailing address on placing a request for a physical PIN by calling our helpline number 1860 267 7777.
Alternately, you can generate PIN through Interactive Voice Response (IVR) on our helpline number 1860 267 7777 or on our website www.indusind.com under Quick Links>Credit Card Related>Generate Credit Card
You have the following options to reset your PIN:
- Option 1: You can set a new PIN instantly on our website www.indusind.com under Quick Links>Credit Card Related>Generate Credit Card PIN.
- Option 2: You can also place a request to dispatch the PIN at your mailing address by calling our helpline number 1860 267 7777.
- Option 3: You can generate a new PIN on our automated Interactive Voice Response System (IVR) by calling 1860 267 7777.
Yes. IndusInd Bank EMV Business Cards can be used at any merchants around the world where your Business Card is accepted today.
Transactions made online or over the phone with your IndusInd Bank Business EMV Chip and PIN Card would continue to be conducted in the same way as with Cards without a Chip. Online transactions may be conducted using IBL e-Secure/Verified by Visa (VBV) password or the One Time Password (OTP) authentication for transactions. You can also conduct transactions over the IVR/telephone using the OTP.
A compromise of your card means the card information has been copied and a fraudster is trying to access your account. As of now, we have not observed any compromise of a chip Business Card as the security chip makes it difficult to copy the Business Card details. This would be possible only if you continue to swipe the magnetic stripe of your IndusInd Bank EMV Business Card at a merchant terminal instead of inserting the chip card to complete your transaction.
Most of the merchants have chip-enabled terminals. In case the merchant doesn’t have chip enabled terminal, the card can be swiped for transactions.
All payments are to be made in Indian Rupees only. You can make payments towards your Card usage through any of the following options:
- Using the "Swift Pay" option or the Credit Card Quick Pay option on www.indusind.com to pay from any bank account
- Online Funds transfer from a non-IndusInd Bank account using NEFT/RTGS/Visa Money Transfer facility
- Cheque/Draft favouring IndusInd Bank Credit Card No. XXXXXXXXXXXXXXXX deposited at IndusInd Bank Branches/ATMs. You are advised to drop cheques at least 4 working days prior to the payment due date to ensure timely credit to your Card account and avoid levy of penal charges. Please mention your mobile number on the reverse of the cheque, we shall send you an SMS on receipt of your cheque.
- Cash deposit at IndusInd Bank branches.
- By activating Auto Payment Facility on your IndusInd Bank account or through NACH facility on your non IndusInd Bank account. Contact Phone Banking for more details.
Payment received against card outstanding will be adjusted against all EMIs, Taxes, Fees, Other charges, Interest Charges, Cash Advance and Purchase, in that order.
Interest charges are levied if Total Amount Due is not paid off by due date and Late Payment charges are applicable if the minimum due amount is not paid by the due date. The minimum amount due for a Business Card is 10% of the Total Amount Due. Over limit charges are applicable if the total outstanding dues on the credit card exceeds the assigned credit limit.
The grace period is only available on retail transactions if there is no outstanding amount payable on the Credit Card. In case your previous credit card bill is due, all fresh purchases will attract interest from the date of purchase.
The IndusInd Bank EMV Business Card should withstand normal wear & tear and the chip should last as long as the card is valid. However, you should take steps to ensure your card is protected to ensure longevity.
Please report the loss to us immediately on 1860 267 7777 / +91 22 4220 7777 and our Phone Banking officers will block your Business Card immediately.
Near Field Communication or NFC is a method of wirelessly transmitting data using radio waves. Tap to Pay uses NFC to wirelessly transmit payment data to payment terminals with NFC readers that have been activated for use. The payment information is transmitted in an encrypted format making the transaction completely secure.
You can follow the below steps to make payments with your Contactless Card:
Look for the Visa Contactless logo at the POS machine
Tap your Contactless Card at the POS machine (the card should be held at less than 4 cm from the POS machine).
Four green indicator lights or a beep sound will indicate that the transaction is complete. A message will also be displayed on the screen indicating the transaction is complete. You will receive an SMS on your registered mobile number with the details of the transaction. No PIN is required for transaction amount of less than ₹5000* (*Subject to change as per RBI guidelines).
You can make faster payments as there is no need for dipping, swiping, entering card PIN or fumbling for cash.
During a contactless transaction, the card never leaves your hand. This greatly reduces the risk of card loss and fraud through counterfeit/skimming.
A Visa Contactless Card has its own, unique, built-in, secret key, which is used to generate a unique code for every Visa Contactless transaction, thus making it more secure.
Yes, there is a daily limit of 5 contactless transactions, which means payments through contactless mode is allowed for maximum amount of ₹25,000 in a day, with maximum capping of every transaction at ₹5000. For any transaction of amount more than ₹5,000, you would have to dip or swipe your credit card and enter the 4-digit PIN to authenticate the transaction.
You can make payments through the contactless mode at all the merchants having NFC enabled POS machines. Just look for the contactless symbol at the POS machine to make the contactless payments. You can also use your Contactless Card to make payments by swiping/dipping your card & entering the 4-digit PIN at the merchants.
Yes, for the merchants that not enabled for contactless payments, you can use transact by swiping or dipping your card & entering the 4-digit PIN.
No, contactless POS machine communicates with one card at a time. In case at the merchant outlet, the POS machine identifies more than one contactless card in your wallet or purse, you will be asked to select the card with which you would like to pay.
No, your card should be present within 4 cm of the POS machine for more than half a second and the retailer must enter the transaction amount for you to approve. Also, the POS machines can process only one transaction at a time, therefore reducing transaction errors.
Yes, Businesses are eligible for Reward points on each and every transaction done through their Business cards on both online and offline mode.
SGBs are government securities denominated in grams of gold. The Bond is issued by Reserve Bank on behalf of Government of India.
The quantity of gold for which you pays is protected, since you receive the ongoing market price at the time of redemption/ premature redemption. The SGB offers a superior alternative to holding gold in physical form. The risks and costs of storage are eliminated. You are assured of the market value of gold at the time of maturity and periodical interest. SGB is free from issues like making charges and purity in the case of gold in jewellery form. The bonds are held in the books of the RBI or in demat form eliminating risk of loss of scrip etc.
There may be a risk of capital loss if the market price of gold declines. However, you don't lose in terms of the units of gold which paid for.
Persons resident in India as defined under Foreign Exchange Management Act, 1999 are eligible to invest in SGB. Eligible investors include individuals, HUFs, trusts, universities, charitable institutions, etc.
Yes, joint holding is allowed.
Yes. The application on behalf of the minor has to be made by his/her guardian.
The application form will be available at all IndusInd Branches. You can locate your nearest branch by clicking ‘Locate Us’ under Reach Us tab.
Every application must be accompanied by the ‘PAN Number’ issued by the Income Tax Department to the investor(s).
The Bonds are issued in denominations of one gram of gold and in multiples thereof. Minimum investment in the Bond shall be one gram with a maximum limit of subscription of 4 kg for individuals, 4 kg for Hindu Undivided Family (HUF) and 20 kg for trusts and similar entities notified by the government from time to time per fiscal year (April – March). In case of joint holding, the limit applies to the first applicant. The annual ceiling will include bonds subscribed under different tranches during initial issuance by Government and those purchased from the secondary market. The ceiling on investment will not include the holdings as collateral by banks and other Financial Institutions.
Yes, each family member can buy the bonds in his/her own name if they satisfy the eligibility criteria as defined at Q No.4.
Yes. One can buy 4 KG worth of gold every year as the ceiling has been fixed on a fiscal year (April-March) basis.
The limit of 4 kg per financial year is applicable even if the bond is bought on the exchanges.
The Bonds bear interest at the rate of 2.50 per cent (fixed rate) per annum on the amount of initial investment. Interest will be credited semi-annually to your bank account as mentioned during subscription and the last interest will be payable on maturity along with the principal.
If you meets the eligibility criteria, produce a valid identification document and remit the application money on time, you will receive the allotment.
The customers will be issued Certificate of Holding on the date of issuance of the SGB. Certificate of Holding can be collected from the issuing banks/Post Offices/agents or obtained directly from RBI on email, if email address is provided in the application form.
Yes. A customer can apply online through IndusNet.
The nominal value of Gold Bonds shall be in Indian Rupees fixed on the basis of simple average of closing price of gold of 999 purity, published by the India Bullion and Jewelers Association Limited, for the last 3 business days of the week preceding the subscription period. The subscription price can be known from the applying branch or through the IndusNet platform.
The price of gold for the relevant tranche will be published on RBI website two days before the issue opens.
On maturity, the redemption proceeds will be equivalent to the prevailing market value of grams of gold originally invested in Indian Rupees. The redemption price will be based on simple average of previous week’s (Monday-Friday) price of closing gold price for 999 purity published by the IBJA.
Both interest and redemption proceeds will be credited to the bank account furnished in your application form at the time of buying the bond.
- The investor will be advised one month before maturity regarding the ensuing maturity of the bond.
- On the date of maturity, the maturity proceeds will be credited to the bank account as per the details on record.
- In case there are changes in any details, such as, account number, email ids, you must intimate the bank.
Though the tenor of the bond is 8 years, early encashment/redemption of the bond is allowed after fifth year from the date of issue on coupon payment dates. The bond will be tradable on Exchanges, if held in demat form. It can also be transferred to any other eligible investor
In case of premature redemption, you can approach your branch thirty days before the coupon payment date. Request for premature redemption can only be entertained if the investor approaches the branch at least one day before the coupon payment date. The proceeds will be credited to the customer’s bank account provided at the time of applying for the bond
The bond can be gifted/transferable to a relative/friend/anybody who fulfills the eligibility criteria (as mentioned at Q.no. 4). The Bonds shall be transferable in accordance with the provisions of the Government Securities Act 2006 and the Government Securities Regulations 2007 before maturity by execution of an instrument of transfer which is available with the issuing agents
Yes, these securities are eligible to be used as collateral for loans from banks, financial Institutions and Non-Banking Financial Companies (NBFC). The Loan to Value ratio will be the same as applicable to ordinary gold loan prescribed by RBI from time to time.
Interest on the Bonds will be taxable as per the provisions of the Income-tax Act, 1961 (43 of 1961). The capital gains tax arising on redemption of SGB to an individual has been exempted. The indexation benefits will be provided to long terms capital gains arising to any person on transfer of bond.
TDS is not applicable on the bond. However, it is the responsibility of the bond holder to comply with the tax laws.
All services such as change of address, early redemption, nomination, grievance redressal, transfer applications etc. will be provided by your branch subject to SGB being purchased using IndusInd Bank’s network.
Payment can be made through cash (upto Rs. 20000)/cheques/ electronic fund transfer.
Yes, nomination facility is available as per the provisions of the Government Securities Act 2006 and Government Securities Regulations, 2007. A nomination form will be available along with Application form at the branch. Additionally, cancellation of nomination facility is also available & can be submitted to the branch.
The maximum limit will be applicable to the first applicant in case of a joint holding for that specific application.
Yes. The bonds can be held in demat account. A specific request for the same must be made in the application form itself. Till the process of dematerialization is completed, the bonds will be held in RBI’s books. The facility for conversion to demat will also be available subsequent to allotment of the bond. Please note that the number on the application form should exactly match the name in the demat form else the form may get rejected.
The bonds are tradable from a date to be notified by RBI. (It may be noted that only bonds held in demat form with depositories can be traded in stock exchanges) The bonds can also be sold and transferred as per provisions of Government Securities Act, 2006
Yes, part holdings can be redeemed in multiples of one gm.
Please call up the THOMAS COOK Help line 1800 266 7500 for enrollment.
Ideally, there won’t be any such flexibility on the same, but will be evaluated on a case to case basis, but the customer will have to pay any extra charges that might come up, since the original contract is not adhered to.
No. There is no penalty. We want the customer to enjoy the benefits at his / her will.
We are evaluating a possibility to offer either 15th Month or 18th month as the last date to travel at the committed rates for the selected package.
Ideally, not possible, but if the customer is willing to pay the additional charges that might apply due to change of plan, we will consider it on a case to case basis.
Customer gets a welcome kit, which will have the booking form and all the product benefits and the holiday packages that the customer can select.
We will have a constant SMS / Email communication plan which will keep the customer updated on what one stands to get and create excitement about the holiday he / she is looking forward to.
Changing the package / plan might lead to change in the package rates, but if the customer is willing to pay for additional charges, if any, then one can make the changes.
Yes , Minor can apply on his own if age is greater than 10 years . Younger minor can apply jointly with the guardian.
You will get 0.5 % additional interest rate on your RD account that is opened with the bank, which contributes towards paying the cost of your holiday.
Bank FAQs for the RD Account
A monthly deposit of a pre-fixed amount is made in the Recurring Deposit account. On maturity, you get back the amount you deposited, along with interest calculated at the rate applicable at the time of opening your account.
Yes, you can open a Recurring Deposit in a joint name.
The first applicant can be a minor. If the minor is above the age of 10 he /she can operate the account independently, for minors of age less than 10 years the account will be opened under guardianship of natural guardian
Premature withdrawals are allowed, but remember that no partial withdrawal is permitted.
There is a penalty of Rs 1.50 per Rs 1000 per month which is levied on unpaid installments. If six consecutive installments are unpaid, the Bank reserves the right to close the RD account. The interest rate applicable on such closed accounts will be as per the premature withdrawal policy of the Bank.
If you choose to close your RD account prematurely, the interest will be paid @adjusted rate. The adjusted interest rate calculation will be as follows: -
- The rate prevailing at the time of booking of the RD applicable for the period for which RD has run will be used as the reference rate.
- Premature penalty of 1% will be levied on the same as per policy.
- Reference rate minus the penalty will be the adjusted rate
- Interest will be paid on this adjusted rate.
Right now there is no overdraft facility for Recurring Deposits.
Partial payments are not possible.
If you wish to prematurely liquidate your Recurring Deposit. We request you to submit your Recurring Deposit advice or written instruction, duly signed by all account holders, at the branch for premature liquidation of your Recurring deposit.
Alternatively, you can liquidate your Recurring Deposits through NetBanking. This facility will be available for Recurring Deposit held under "Sole Owner (SOW)" relationship only and which are booked from Singly Owned Savings or Current Accounts.
Yes, there is a nomination facility on the Recurring Deposit account.
No. Interest is only paid when the Recurring Deposit account is closed, and on maturity.
No it is not possible to change the tenure and installment due date, (auto debit date). We request you to open a new Recurring Deposit with the desired due date and tenure.
The date of your monthly RD installment will depend on the date you opened your RD account.
The Consumer Finance Division of the Bank is focussed on making credit available for all major vehicle loan categories ranging from a two wheeler to heavy earth movers or even tractors and farm equipment. We also specialise in affordable home loan financing. The CFD wing of the Bank is headquartered in Chennai and has significant presence in major geographies within the country.
We provide a range of flexible and easy financing options including but not limited to the following categories: New and pre-owned cars, two wheelers, construction equipment, new and pre-owned commercial vehicles in the small, medium, light and heavy segments, tractors and other farm equipment and home loans that are categorised as ‘affordable’ by the Bank.
There are 5 easy ways by which you can approach IndusInd Bank for a loan.
- Submit your enquiry online. Click here to explore our products.
- Use our Phone Banking channel by calling 18001023333 or 04445455555 (Two Wheeler)
- Walk into any of our branches. Click here to locate the nearest branch.
- Email us your enquiry at reach4loan@indusind.com.
- Our executives are also stationed at various vehicle dealerships & Real Estate Establishments.
In case of a fixed rate loan, the rate of interest applicable on the loan remains the same over a period of time. Therefore fixed rate loans have a specific EMI that does not change due to market conditions. In case of a floating rate loan, the applicable interest varies periodically as per the decision of the bank based on the market conditions, thus the payable EMI on a floating rate loan may change from time to time.
Yes. IndusInd Bank offers loans for certain categories of used/previously owned/pre-owned vehicles like passenger cars, commercial vehicles etc. However, the loan would only cover the price of the car itself, other costs as transfer of registration, etc. will have to borne by you. Please go through the detailed terms for your specific desired vehicle. We also offer easy and affordable refinance options for your existing vehicle too. Please visit the respective product page for more details.
We have a host of easy to use online options that you can use from the comfort of your home via even your mobile or handheld device. We would encourage you to set up an eMandate using NPCI’s safe and secure eNACH to automate your EMI payments on pre-specified dates without any kind of intervention. For this and other online modes of payment, click on the Make Payments tab on the homepage to know more. You could set up a standing instruction (SI) or opt for electronic clearing services (ECS). Offline modes of payment are also available – you could remit cash or pay by cheque at any of our CFD branches across the country or sign up for a NACH facility by filling up the NACH form and submitting it at any of our branches.
Yes, you will be able to avail a loan without having a current or a savings account with us. But we would recommend that you switch to an IndusInd Bank savings or current account to avail our range of best-in-class services like customised account numbers, choice of currency at our ATMs and much more! Now with Video KYC and WhatsApp Banking facilities opening and operating your account is easier than ever before.
Once all the EMIs are paid, the Bank issues a computerised closure letter secured with a hologram, Form 35 and a No Objection Certificate (NOC) to the Road Transport Office (RTO), post which the Bank’s endorsement will be removed from the Registration Certificate (RC) book. A similar NOC is issued to the insurance company to remove lien from the policy as well, if applicable within 6 days from the date of paying the last EMI. Please note that Form 35 is valid for a period of 3 months from the date of issue. Any security post-dated cheques (PDC) provided during processing will also be returned back.
No. An NOC (no objection certificate) is required before you can sell the car/home/asset. You will have to completely repay the loan before selling the car/commercial vehicle/house or the asset in question. If the third party that is buying the vehicle can apply & secure a used car loan on the same vehicle, the loan can be transferred internally.
No. In normal course, there’s no need for any additional collateral since the vehicle is hypothecated to the Bank. In case of vehicle loans, an endorsement will have to be made in the Registration Certificate (RC) book of the vehicle. This will be cancelled after you repay the loan. Requirement of additional collateral will depend on case to case and the asset in question. In the case of affordable home loans, security of the loan would generally be in the form of registered mortgage on the property being financed by the Bank and/or any other interim security if need be. Please ensure that the title of the property is clear, marketable and free from encumbrance. The title of the property cannot be transferred or encumbered in any way whatsoever till such time you close the loan and receive a loan closure letter.
Accidents, Earthquake, flood, fire and other allied perils threaten the comfort and safety provided by your home and vehicle against which an insurance protects the asset concerned. In the event of any such eventuality, the cover provided by the insurance kicks in and the claim is paid directly to the Bank which uses the proceeds to close your loan account. Keeping your assets insured is a sound financial safety tool and we encourage you to continue to insure your assets. For all insurance options to secure your home please go to the Insurance tab under the personal banking section.
Yes. Insurance and registration of your vehicle can also be financed by IndusInd Bank, if you qualify under certain schemes. Please contact us for more details.
Yes. If your spouse is listed as a co-borrower, their income can also be included.
Dishonouring a cheque/ECS/NACH is a criminal offense and can attract penalties under relevant sections of law. Not paying your EMIs on time can classify you as a defaulter. Initially you may have to pay a penalty. If you fail to regularise your payments after repeated notifications, the Bank can legally repossess your vehicle. Further, your CIBIL/credit scores will also be adversely affected which can impair the chances of you securing a loan in the future. In addition, you will have to pay a bounce charge also for the return of the instrument. Please refer to our Schedule of Charges in for the quantum of such charge.
Please do keep your agreement number, self-attested ID proof handy for all requests. For specific requests like if you want change your address or contact details, please carry your new address proof along with a self-attested copy and a change request.
In case you wish to change the mode of repayment or the bank account for your loan repayment, please visit your nearest IndusInd Bank specialised branch and submit your request with the revised mandate or instructions for a nominal fees. Please check the schedule of charges for details. Please note that it takes 25 working days to activate the revised instructions. In case your next instalment falls due prior to this period, instructions already lodged with us will be presented for payment.
Don’t worry! Please visit your branch with a request to generate a duplicate NOC. Please produce a copy of FIR/written complaint with general diary number and your ID proof handy. This is a paid service. Please refer to our Schedule of Charges for details.
Don’t worry! Please visit your branch and request an NOC. Please keep a self-attested copy of the RC book and copy of FIR/written complaint with general diary number handy.
You can update your phone number, vehicle number, KYC details and much more through our WhatsApp Banking facility anytime, anywhere with just a few clicks. You could also visit any of our specialised CFD branches or call our 24x7 Toll Free PhoneBanking unit at 18001023333 or eMail us at reach4loan@indusind.com
Please visit any of our specialised branches and request a duplicate NOC/Form 35 by filling up the relevant form. Please keep a self-attested copy of the Registration Certificate (RC) book, original RC book for validation handy. This is a chargeable service. Please refer to our schedule of charges for quantum of charges.
A co-borrower is co-applicant who is liable for repayment irrespective of the performance of loan. Debtors default or defenses are not pertinent. Whereas, a guarantor is liable for repayment only when the debtor defaults and the Bank takes steps to recover the loan.
Yes. A customer copy is available in the loan agreement.
No. Since your loan is based on equated monthly repayment, there will not be any interest rebate and the excess amount will be treated as advance payment for the next EMI. Only in the event of foreclosure of the loan will you receive an interest rebate on future outstanding amount.
No, to hold the ACH repayment, you will have to give a written application to the specific branch, 7 days prior to due date. It is advisable that you pay the EMIs through ACH, so as to avoid additional charges on cash collection. Please refer to our schedule of charges for details.
Yes. You are free to remit the required funds into the account and request foreclosure of the loan account. Please note that this is a chargeable service. Please refer to our Schedule of charges for more information.
IndusInd Bank offers to car finance up to 90% of the car value. However, the final offering might vary depending on factors such as vehicle cost, credit parameters like customer profile (salaried/self-employed), income details, and the value in the second-hand market. Please go to the car loan page, click on apply now and enter your details. We will get back to you and collect your details for a customized offering.
The different tenure options available range from 1-5 years and can be extended up to 7 years depending on the discretion of the Bank. For used cars, the tenure can range from 1-4 years and can be extended up to 5 years.
Yes, a car loan can help you save on taxes only if you are a self-employed professional or a business owner and the car is being used for business purposes.
Zero percent financing is an offer provided by a few automobile manufacturers in collaboration with IndusInd Bank. Under this plan, the automobile manufacturer is responsible for paying back the interest on the car loan to the financier instead of the borrower. Thus, the borrower pays zero interest. The cost of zero financing car models is usually greater than the cost of car models that do not have this feature, since the manufacturer absorbs the interest load. Note that there are a few terms in case of zero financing options that are not usually applicable in case of a standard car loan. For example, the usual tenure of a zero financing loan ranges from 12 months to 15 months, hence your premium payments will be much higher than that in case of a standard car loan. Additionally, you often have to pay a much larger down payment amount as compared to the standard car loan.
A small commercial vehicle (SCV) refers to any three wheeler loading or goods carrier or four wheeler loading vehicle with a tonnage of upto 1,000 kilograms. IndusInd Bank finances most of the small commercial vehicle brands and models including both passenger and cargo vehicles available in the market today. IndusInd Bank offers easy and flexible financing options that make your SCV dreams a reality.
In keeping with the Bank’s philosophy to support the bottom of the pyramid and to enhance sustainable livelihoods to such families, IndusInd Bank runs our flagship Drive to Thrive program. As part of this program the Bank provides loans at preferential and attractive rates of interest to customers at the lowest income segment to support and sustain their livelihoods.
With respect to your home, we understand that your financing needs might be for a wide range of purposes, ultimately intended at giving you a comfortable residential experience. You can avail an IndusInd Bank Affordable Home Loan for purchasing or constructing a new residential property, improvement to or extension of your home or even balance transfer of an existing loan from another financial institution.
Launched on 25 June 2015, the Pradhan Mantri Awas Yojana (PMAY) (Urban) Mission intends to provide housing for all in urban areas by year 2022. The credit linked subsidy scheme (CLSS) under the auspices of PMAY, allows you a subsidy in keeping with your annual family income and the carpet area of your home. This scheme reduces your interest burden significantly and gives you easier access to your first pucca house. To check if you are eligible for PMAY-CLSS, please reach out to us. IndusInd Bank offers PMAY-CLSS under National Housing Board (NHB) guidelines.
For affordable home loans, IndusInd Bank has adopted RBI Repo rate as the reference rate for computing its External Bench Mark Linked Rate (EBLR). Accordingly, the Bank is offering only Floating rate of interest linked to its EBLR for all affordable home loans. The applicable rate of interest would get reset on a quarterly depending upon the prevailing EBLR.
IndusInd Bank allows you a high loan value of upto 85% of the property cost or cost of construction, as the case may be, subject to your eligibility as assessed by the Bank. Only the balance 15% has to be brought in by you as own contribution.
Your affordable home loan eligibility is computed basis a comprehensive range of factors including but not limited to your regular cash flows, income and repayment capacity. Few other important factors are your age, nature of business or employment, skill sets, number of dependents, your family income, assets & liabilities, savings history, stability & continuity of occupation subject to credit and product norms, policies and processes of the Bank. Please note that the final decision to grant a loan and the quantum of loan is the sole discretion of the Bank.
IndusInd Bank’s quick, efficient and transparent mechanism ensures that your affordable home loan is processed within 7 days of receiving the complete set of documents.
Yes! You can apply for a pre-approved home loan which is an in-principle approval for a loan. Please note that such pre-approved loans are valid for a limited period from the date of sanction of the loan
Yes! We understand that you might need additional help to set up the home of your dreams. In such cases, you can avail an additional top-up loan.
Yes. You are eligible for tax benefits on the principal and interest components of your affordable home loan as per relevant provisions of the Income Tax Act, 1961. As the benefits could vary each year, please do check with your loan officer about the tax benefits which you could avail on your loan.
IndusInd Bank offers you easy and flexible tenures on your commercial vehicle or construction equipment loans ranging from 12 months to 60 months. The tenure also depends on the type of vehicle that you intend to purchase.
IndusInd Bank finances most leading brands and all their models. In all probability, we fund your desired commercial vehicles and construction equipment. We also offer loans on pre-owned or used commercial vehicles and construction equipment not more than 12 years old. Please reach out to our customer care executive to know more.
IndusInd Bank provides as high as 80% to 100% funding on chassis with additional funding options for vehicle body.
A two-wheeler loan helps you buy a scooter or motorcycle of your choice. Two-wheeler loans are available both for working professionals and self-employed individuals. You can repay the loan amount in Easy Monthly Instalments (EMIs).
Applying for a two-wheeler loan on IndusInd Bank is easy. Visit the website and fill out the online application form by providing details like name, mobile number, email address, and pin code. If you fulfil the eligibility criteria, your application will be approved instantly.
You need to visit the website to check the eligibility criteria to apply for a two-wheeler loan. The eligibility criteria for salaried and self-employed individuals are different. Ideally, you need to be 21 years of age, have stable employment, and meet the minimum gross salary requirements.
There are many benefits of opting for two wheeler loans from IndusInd Bank. Some of the benefits of applying for a two-wheeler loan are:
- Get the best and most competitive interest rates for two-wheeler loans across India.
- Applicants can choose loan tenure from the IndusInd Bank’s broad, easy and flexible repayment tenure, starting from 12 months to 36 months for regular two-wheeler loans and up to 60 months for high-end and high-street bikes.
- Quick loan processing time within 4 hours of convenient doorstep documentation in a hassle-free manner.
- Get up to 95% on-road finance from IndusInd Bank with loans starting from Rs. 15000.
IndusInd Bank offers flexible tenure to applicants. They can choose loan tenure from 12 months to 36 months for regular two-wheeler loans and up to 60 months for high-end and high-street bikes.
IndusInd Bank has a quick loan processing time. The loan is processed within 4 hours of convenient doorstep documentation hassle-free.
No. Under normal circumstances, there is no need to get a co-applicant or guarantor to avail of a two-wheeler loan. However, in a rare event, if the applicant doesn't meet the Bank's norms, the applicant may be required to have a guarantor to stand surety for the loan. A guarantor becomes the co-endorser and steps in to assume liability in case of a default.
Yes. IndusInd Bank offers potential treatment to existing IndusInd Bank customers. They get a 100% waiver on the processing fee. In addition, IndusInd Bank also offers a 2% interest rate advantage to existing customers.
IndusInd Bank offers two-wheeler loans across the board on all major two-wheeler brands and models of scooters and motorcycles. IndusInd Bank can provide you loans for all your needs, whether you need an economy bike, commuter bike, or even a high-performance superbike.
IndusInd Bank’s car loan application process is simple and hassle-free. To apply for a car loan at IndusInd bank’s website, you need to provide basic information such as:
- Your Name
- Mobile Number
- PAN
- Pincode
Once you have submitted the above mentioned details, an IndusInd Bank agent will contact you and explain the features and logistics of applying for a car loan.
Alternatively, you can reach us via
- Phone by calling 18001023333 or 04445455555 (Two Wheeler) or
- Walk into any of our branches. Click here to locate the nearest branch or
- Email us your enquiry at reach4loan@indusind.com
Getting quick approval on your car loan will depend on your EMI instalment. Use our EMI calculator to determine the EMI amount that you will have to pay. Additionally, check the eligibility criteria online before submitting your car loan application. These two things can help you plan your application well resulting in steady approval.
You can also accelerate your car loan approval process by submitting the required documents and completing the Know Your Customer (KYC) formalities.
IndusInd Bank offers flexible tenure options ranging from 1-5 years. In some cases, it can be extended up to 7 years.
IndusInd Bank offers new car loans of up to 100%* of the car value. We also offer financing for the insurance and registration of your vehicle. Both offers might vary depending on factors such as vehicle cost & credit parameters.
To avail a new car loan at IndusInd Bank, your credit score would need to be above 600. With a high credit score you can receive approval for a higher loan amount.
IndusInd Bank offers new car loans of up to 100%* of the car value, which means that you need to make zero down payments to buy a car. This offer, however, is subject to conditions related to the vehicle cost & credit parameters.
IndusInd Bank offers flexible tenure options ranging from 1-5 years. In some cases, it can be extended up to 7 years. For used cars, the tenure can range from 1-4 years and can be extended up to 5 years.
You can avail IndusInd Bank car loans with simple documentation relating to your identity (PAN & Aadhar) and income proof. You need to provide:
- Valid Identity Proof(PAN, Aadhar)
- Valid Income Proof (latest Form 16/ Income Tax Returns, last 3 months' salary slips)
- Latest Bank Statements
- Business Incorporation Certificate (In case self-employed)
- Owned House Proof (In case income proof is not available)
IndusInd Bank has a basic eligibility criteria for car loan. They are as follows:
- Age: 23 years to 60 years
- Income: Minimum ₹2.5 Lakhs per annum
- Stability: Minimum 3 years’ employment stability and at least 1 year in the current employment
- Residence stability: 2 years in the city and 1 in the current residence/ no stability required in case of own house
A Personal Loan is an unsecured term loan provided by the bank that an individual can use as per his/her personal need. A personal loan unlike a home or car loan do not require lock in of any collateral by the applicant.
A Personal Loan can be used for various expenses such as education, medical bills, home renovation, wedding, etc. A low interest personal loan is one of the easiest way to get financial aid for any personal use.
The minimum eligibility for an instant Personal Loan is:
a) An individual should be 21 years of age at the time of application.
b) The minimum net monthly income should be at least Rs. 25,000.
c) Completed minimum of two years in employment and one year in the current organization.
d) Completed minimum one year of stay at the current residence, if rented.
To apply for a Personal Loan, one must be at least 21 years of age and be able to provide identity proof, address proof, and other required documents.
To obtain the loan, there is absolutely no need to provide any security or collateral.
The online Personal Loan amount ranges from Rs. 30,000 to Rs. 50 Lacs depending on the eligibility, income, CIBIL Score, profile of an individual and repayment capacity.
You can choose to avail an instant Personal Loan with tenure from 12 to 72 months.
A Personal Loan is offered for a maximum of 6 years (72 months).
A Personal Loan is offered for a minimum of 1 year (12 months).
Follow the steps below to apply for an instant Personal Loan online:
- Visit our Personal Loan page and rovide few basic details like your mobile number, PAN card number etc. to get started
- Check out your Personal Loan offer and complete your video KYC
- Provide your bank account details for disbursement
At IndusInd Bank, you can avail an instant Personal Loan with rate of interest starting as low as 10.49%. Terms and conditions apply.
A processing fee of up to 3.5% of the loan amount and requisite documentation charges are applicable, and the same is deducted from the loan amount at the time of disbursal.
Once you submit your application form and the required documents, your Personal Loan can be approved and disbursed within few hours in case all details are correct and verified in real-time, else it might take a little bit more time. All loan approvals are at the sole discretion of the bank.
Yes, IndusInd Bank offers a top-up facility on the existing Personal Loan to help customers' requirements, this is subject to customer meeting bank's policy norms
The pre-approved Personal Loan is offered to select customers. You can log in to your net banking, mobile banking, or debit card account to check if you’re eligible for the pre-approved Personal Loan. You can alternatively click on the link to check your eligibility. Link:https://easycredit.indusind.com/
You can approach us in any of the following ways:
a) Call us at our 24 hour Customer Care number: 18602677777 / +91 22 44066666
b) Write to us at reachus@indusind.com
c) SMS "PL" to 5676757
d) Or you can simply walk into any of our branches, in the select cities where we offer Personal Loans
You can check IndusInd Bank Personal Loan status by calling the customer care on 18602677777 / +91 22 44066666
You repay the loan in equated monthly installments (EMIs). The loan will be paid through ECS/E-Nach. You can also pay through a standing instruction to debit your IndusInd Bank account with the EMI amount.
You can prepay/foreclose the entire loan outstanding any time after paying 12 installments Prepayment charges as applicable would be levied on the outstanding loan amount. The exact amount for pre-closure of the loan is available in the Foreclosure Letter issued by the bank. TAT (Turn Around Time) for issuance of a Foreclosure Letter is 15 working days from the date of request.
Part prepayment is not allowed. The Personal Loan has to either be prepaid in full or serviced for the contracted tenure.
We encourage you to start a banking relationship with us so that we will be able to offer a host of other value added services which are complimentary to the loan, however opening an account with us is not mandatory.
As an IndusInd Bank Customer, you will be offered special interest rates, asked for minimal documentation and your application will be processed on priority. Having an account with us enables us to assess your financial requirements better; and assists us in providing you with services and loan amount commensurate with your payment ability and requirement.
Yes, you can avail a gold loan against gold coins. Maximum limit of 50 gm per customer will be applicable.
IndusInd Bank calculates just simple interest on gold loan
Monthly interest payment and repayment of principal on maturity date Equated Monthly Instalment option
You can make part-payment, but the ornaments will be released only after the entire outstanding amount is paid
Whatever be your need, Gold Loan can serve as a smart loan solution to meet it. Experience it and enjoy the following benefits:
Swift loan - Our loan sanction and disbursal is one of the quickest with Simple documentation.
Transparency – All costs and charges are communicated up front while providing the loan quotation to help you make the best choice for you.
Interactive process – Our Bank officials will assist you at the branch during the processing of the Gold Loans and guide you through the different product offerings, enabling you to make the best choice for you.
IndusInd Bank Gold Loans is a smart way to fund your dreams by unlocking the value of gold in your possession.
Loan Amount: You can get a loan upto INR 10,00,000
Immediate Loan: Gold Loan is the quickest possible form of loan to meet any immediate requirement you may have.
Security: Assurance of the security of your gold. The gold is sealed in your presence and vaulted in the safe keeping of the bank
Additionally, if you are an IndusInd Bank customer, you get easier repayment options and lesser documentation, making the loan process simpler for you.
Gold Loan can be used for any legitimate personal purpose or business purpose. The loan cannot be used for speculative purpose such as purchase of land or gold, capital market investments or any anti-social purpose.
The list of all the fees and charges to be paid for the loan:
| Nature of Charge | Amount to be paid |
|---|---|
| Processing Fee | Upto 1% of loan |
| Valuation Fee | INR 500 for loan upto INR 2 lakh and INR 750 for loan over and above INR 2 lakh |
| Charges for late payment of loan amount | 24% p.a. as penal interest over and above applicable rate of interest |
| Stamp duty and other statutory charges | As per Applicable laws of the State |
| Credit assessment charges | Not Applicable |
| Non-standard repayment charges | Not Applicable |
| Outstation clearing charges | Not Applicable |
| Cheque swapping charges | Not Applicable |
| Loan cancellation / re-booking charges | Not Applicable |
| Bounce Cheque Charges | Not Applicable |
| Renewal Processing Fees | Upto 1% of loan |
*Taxes and other charges on Gold loan shall be as applicable as per regulation and statutes
Simply walk into any of our branches, in the select cities where we offer Gold Loans.
A loan against property (LAP) is a mortgage loan that is offered to individuals, companies or firms against any of their existing residential or commercial property. This type of loan is ideal for people who are in need of immediate funds for different purposes such as expanding their business or meeting some of their personal financial needs. The main advantage of getting LAP is you can still hold on to your property and raise funds for your needs.
The maximum amount of loan you can get depends on your profile and eligibility rating. In addition, the amount also depends on certain other factors such as your monthly income, age, credit score, monthly financial obligations, retirement age and credit history.
Applicants can use any of the methods given below to apply for LAP:
• Fill up the online application form and one of our representatives will get in touch with you to help you complete the process.
• Call our phone banking number available on the website
• Visit the nearest IndusInd Bank branch
• Get in touch with your relationship manager for more details to apply for LAP
The maximum tenure offered by IndusInd Bank for LAP is 20 years.
You can use your residential property as collateral. Apart from that, if you have any commercial property such as a shop or office, you can also use these as collateral.
IndusInd Bank offers flexible loan tenures to customers. Depending on their capacity, the tenure can be customized from 1 to 20 years.
Not necessarily. As per the guidelines issued by IRDA, insurance is optional. However, applicants should get the property insured for the equivalent amount as the loan taken and for the same tenure.
A LAP can be used for a number of big-ticket expenses such as unforeseen medical expenses, to finance your children’s higher education or set up a business.
| If you are an individual applying for a LAP, you need to provide: | If you are a business entity, you need to provide: |
|---|---|
| You application form | You application form |
| A valid identity or residence or signature proof | A valid identity or residence or signature proof |
| The latest Form 16/ITR copy/Appointment letter and the latest 3 months’ salary slips/Salary Certificate | Latest 2 years ITR along with Computation and Acknowledgement. 2 years financials with full schedules & audit rpt (Form 3CD & 3CB). Financials to be audited for T/O > 40 /60 Lacs case else should be CA certified |
| Last 6 months’ bank statements of the MAIN CA/SA/CC/OD account | Last 6 months’ bank statements of the MAIN CA/SA/CC/OD account |
| Copy of all property documents of the concerned property that you wish to mortgage | Copy of all property documents of the concerned property that you wish to mortgage |
| Processing fee cheque | Processing fee cheque |
Yes, an overdraft facility is available for all customers. A great financing option, you can use the overdraft facility for your business or personal needs. As per the scheme, you will be provided with a credit limit and you can withdraw a required amount from the loan amount during the tenure of the loan. The interest rate will be applicable only on the amount that you withdraw or utilize.
Both loans are very different from each other. A home loan is taken to purchase a new home, which may be under construction, ready-to-move or a second property or something that needs to be constructed from the scratch. LAP is taken by mortgaging a property that you have (residential or commercial or special use space) to finance your immediate financial needs.
The Consumer Finance Division of the Bank is focussed on making credit available for all major vehicle loan categories ranging from a two wheeler to heavy earth movers or even tractors and farm equipment. We also specialise in affordable home loan financing. The CFD wing of the Bank is headquartered in Chennai and has significant presence in major geographies within the country.
We provide a range of flexible and easy financing options including but not limited to the following categories: New and pre-owned cars, two wheelers, construction equipment, new and pre-owned commercial vehicles in the small, medium, light and heavy segments, tractors and other farm equipment and home loans that are categorised as ‘affordable’ by the Bank.
Our wide geographical presence gives you the convenience to walk-in to any of our branches <insert Branch Locator Link here>. Alternatively, you can also call our PhoneBanking unit at 1860 267 7777 (24x7 Toll Free), 044454555555 (Two Wheelers), or write to us at reach4loan@indusind.com. You could also approach our customer service teams that are stationed at various dealerships from where you intend to purchase your vehicle or builders where you intend to purchase your home. We also have a host of products and services that you can avail exclusively online. Click on the Apply Online tab to know more.
In case of a fixed rate loan, the rate of interest applicable on the loan remains the same over a period of time. Therefore fixed rate loans have a specific EMI that does not change due to market conditions. In case of a floating rate loan, the applicable interest varies periodically as per the decision of the bank based on the market conditions, thus the payable EMI on a floating rate loan may change from time to time.
We have a host of easy to use online options that you can use from the comfort of your home via even your mobile or handheld device. We would encourage you to set up an eMandate using NPCI’s safe and secure eNACH to automate your EMI payments on pre-specified dates without any kind of intervention. For this and other online modes of payment, click on the Make Payments tab on the homepage to know more. You could set up a standing instruction (SI) or opt for electronic clearing services (ECS). Offline modes of payment are also available – you could remit cash or pay by cheque at any of our CFD branches across the country or sign up for a NACH facility by filling up the NACH form and submitting it at any of our branches.
Yes, you will be able to avail a loan without having a current or a savings account with us. But we would recommend that you switch to an IndusInd Bank savings or current account to avail our range of best-in-class services like customised account numbers, choice of currency at our ATMs and much more! Now with Video KYC and WhatsApp Banking facilities opening and operating your account is easier than ever before.
Once all the EMIs are paid, the Bank issues a computerised closure letter secured with a hologram, Form 35 and a No Objection Certificate (NOC) to the Road Transport Office (RTO), post which the Bank’s endorsement will be removed from the Registration Certificate (RC) book. A similar NOC is issued to the insurance company to remove lien from the policy as well, if applicable within 6 days from the date of paying the last EMI. Please note that Form 35 is valid for a period of 3 months from the date of issue. Any security post-dated cheques (PDC) provided during processing will also be returned back.
Accidents, Earthquake, flood, fire and other allied perils threaten the comfort and safety provided by your home and vehicle against which an insurance protects the asset concerned. In the event of any such eventuality, the cover provided by the insurance kicks in and the claim is paid directly to the Bank which uses the proceeds to close your loan account. Keeping your assets insured is a sound financial safety tool and we encourage you to continue to insure your assets. For all insurance options to secure your home please go to the Insurance tab under the personal banking section.
Yes. Insurance and registration of your vehicle can also be financed by IndusInd Bank, if you qualify under certain schemes. Please contact us for more details.
Yes. If your spouse is listed as a co-borrower, their income can also be included.
Dishonouring a cheque/ECS/NACH is a criminal offense and can attract penalties under relevant sections of law. Not paying your EMIs on time can classify you as a defaulter. Initially you may have to pay a penalty. If you fail to regularise your payments after repeated notifications, the Bank can legally repossess your vehicle. Further, your CIBIL/credit scores will also be adversely affected which can impair the chances of you securing a loan in the future. In addition, you will have to pay a bounce charge also for the return of the instrument. Please refer to our Schedule of Charges in for the quantum of such charge.
Please do keep your agreement number, self-attested ID proof handy for all requests. For specific requests like if you want change your address or contact details, please carry your new address proof along with a self-attested copy and a change request.
In case you wish to change the mode of repayment or the bank account for your loan repayment, please visit your nearest IndusInd Bank specialised branch and submit your request with the revised mandate or instructions for a nominal fees. Please check the schedule of charges for details. Please note that it takes 25 working days to activate the revised instructions. In case your next instalment falls due prior to this period, instructions already lodged with us will be presented for payment.
A co-borrower is co-applicant who is liable for repayment irrespective of the performance of loan. Debtors default or defenses are not pertinent. Whereas, a guarantor is liable for repayment only when the debtor defaults and the Bank takes steps to recover the loan.
Yes. A customer copy is available in the loan agreement.
No. Since your loan is based on equated monthly repayment, there will not be any interest rebate and the excess amount will be treated as advance payment for the next EMI. Only in the event of foreclosure of the loan will you receive an interest rebate on future outstanding amount.
No, to hold the ACH repayment, you will have to give a written application to the specific branch, 7 days prior to due date. It is advisable that you pay the EMIs through ACH, so as to avoid additional charges on cash collection. Please refer to our schedule of charges for details.
Yes. You are free to remit the required funds into the account and request foreclosure of the loan account. Please note that this is a chargeable service. Please refer to our Schedule of charges for more information.
With respect to your home, we understand that your financing needs might be for a wide range of purposes, ultimately intended at giving you a comfortable residential experience. You can avail an IndusInd Bank Affordable Home Loan for purchasing or constructing a new residential property, improvement to or extension of your home or even balance transfer of an existing loan from another financial institution.
Launched on 25 June 2015, the Pradhan Mantri Awas Yojana (PMAY) (Urban) Mission intends to provide housing for all in urban areas by year 2022. The credit linked subsidy scheme (CLSS) under the auspices of PMAY, allows you a subsidy in keeping with your annual family income and the carpet area of your home. This scheme reduces your interest burden significantly and gives you easier access to your first pucca house. To check if you are eligible for PMAY-CLSS, please reach out to us. IndusInd Bank offers PMAY-CLSS under National Housing Board (NHB) guidelines.
For affordable home loans, IndusInd Bank has adopted RBI Repo rate as the reference rate for computing its External Bench Mark Linked Rate (EBLR). Accordingly, the Bank is offering only Floating rate of interest linked to its EBLR for all affordable home loans. The applicable rate of interest would get reset on a quarterly depending upon the prevailing EBLR.
IndusInd Bank allows you a high loan value of upto 85% of the property cost or cost of construction, as the case may be, subject to your eligibility as assessed by the Bank. Only the balance 15% has to be brought in by you as own contribution.
Your affordable home loan eligibility is computed basis a comprehensive range of factors including but not limited to your regular cash flows, income and repayment capacity. Few other important factors are your age, nature of business or employment, skill sets, number of dependents, your family income, assets & liabilities, savings history, stability & continuity of occupation subject to credit and product norms, policies and processes of the Bank. Please note that the final decision to grant a loan and the quantum of loan is the sole discretion of the Bank.
IndusInd Bank’s quick, efficient and transparent mechanism ensures that your affordable home loan is processed within 7 days of receiving the complete set of documents.
Yes! You can apply for a pre-approved home loan which is an in-principle approval for a loan. Please note that such pre-approved loans are valid for a limited period from the date of sanction of the loan
Yes! We understand that you might need additional help to set up the home of your dreams. In such cases, you can avail an additional top-up loan.
Yes. You are eligible for tax benefits on the principal and interest components of your affordable home loan as per relevant provisions of the Income Tax Act, 1961. As the benefits could vary each year, please do check with your loan officer about the tax benefits which you could avail on your loan.
Indus Easy Loan is a loan against the unutilised credit limit and so, depending on various parameters, IndusInd Bank calculates the maximum loan a customer can get. Minimum loan amount that you can get as a Indus Easy Loan is INR 5,000.
Besides the fact that this allows you to have cash within 7 working days of approval of the Indus Easy Loan, you can repay the loan in simple EMIs without having to go through a detailed loan approval procedure somewhere else.
We are sure you recognize and appreciate the importance of this product. Every bank charges a fee for this service. For IndusInd Bank the processing fee is a mere 2.5% (or INR 250, whichever is higher) of the total loan amount. It is only a one-time payment made along with the first EMI, post which you pay just your EMI.
Please refer to the Schedule of charges or call our phone banking team on 1860 267 7777 to find out the prevailing interest rate. Please note that the EMI shall be computed on a monthly reducing balance for tenor as communicated at the time of purchase.
Most certainly you can, however please note that there will be a pre-closure fee for paying at one go before the end of your tenure. This will be a fixed amount of 3% of the principal outstanding amount on Indus Easy Loan.
Your new minimum amount due will include the EMI amount as well.
Transactions can be converted into easy EMI within 45 days of purchase using your IndusInd Bank credit card. You can either call our phone banking team at 1860 267 7777 / +91- 22- 44066666 or write to us at cards. care@indusind.com .
You can convert a maximum of 10 transactions into EMI. And to make things easier we allow you to choose for tenure periods of 12, 18, 24 and 36 months.
Indus Easy EMI allows you to shop to your heart's content without the need of having to pay immediately. This also helps reduce your interest burden as the interest rate may be lower than the normal interest rate on the credit card*.
Yes, you can convert transactions done on your IndusInd Bank add-on credit card into Indus Easy EMI.
FASTag is a device that employs Radio Frequency Identification (RFID) technology for making toll payments directly from the prepaid account linked to it. It is affixed on the windscreen of your vehicle and enables you to drive through toll plazas, without stopping for cash transactions. You need to recharge / top up the tag as per your requirement.
- Ease of payment - No need to carry cash for the toll transactions, saves time.
- Online Recharge - Tag can be recharged online through Debit Card, Credit Card, Net Banking & other online payment modes.
- SMS alerts for toll transactions, low balance, etc.
- Online Portal for customers.
FASTag has unlimited validity. The same FASTag can be used till the tag is read by the reader and not tampered with. In case due to wear and tear the reading quality depreciates, please reach out to your Issuing Bank for a new tag.
FASTag is presently operational at toll plazas across national highways. More toll plazas are being brought under the FASTag program every dat. You may see the list of plazas in the 'Active Toll Plazas' section.
FASTag has a onetime Fee of ₹200 including service tax with GST. The refundable security deposit depends on the vehicle type. Please check the 'Fees and Charges' section for details.
You may visit any of the IndusInd Bank branches near you to get your tag account created. You may call our customer care @ 1860 267 7777 to know more details.
You will need to carry original as well as copy of your KYC documents along with your vehicle’s RC Book, Driving Licence and Vehicle at the Branch location.
You will need to carry original as well as copy of your KYC documents
You need to submit the following documents along with the application for FASTag:
- Registration Certificate (RC) of the vehicle.
- Passport size photograph of the vehicle owner
- KYC documents as per the category of the vehicle owner:
- Online Portal for customers.
| Individual | ||||
| ID proof and Address proof from the list mentioned, and 1 passport size photograph | ||||
| Driving License | PAN Card | Passport | Voter ID Card | Aadhaar Card (with address) |
| A valid driving license would be sufficient for Address & ID proof. | ||||
| Corporate | |
| Public Ltd./ Private Ltd./ Partnership | Proprietorship |
| Certificate of Incorporation/ Partnership Deed/Registration certificate of the firm | PAN Card of Proprietor |
| PAN Card of the corporate | Address Proof of the Proprietor |
| Photo ID of signing authority | Shop Act or other Firm Proof |
| List of Directors with addresses/Name and addresses of Partners | |
Our representative will provide you an application form, which you need fill and submit.
All required documents for FASTag should be in the name of the owner of the vehicle. If car owner is not present at the time of application, driver will need to submit his photo ID proof.
A valid driving license would be sufficient for Address & ID proof.
Yes, you will have to use the lanes demarcated for FASTag.
Currently there is no Online facility to Apply for a monthly pass. Kindly reach out to the toll Operator and pay them directly to avail Monthly Pass. While paying them, please inform them that you have a tag so that they can map your tag details & vehicle details in their system.
You may recharge your TAG account by making payment online through Debit Card, Credit, Net Banking & other online payment modes. The TAG account can be recharged upto ₹ 1,00,000.00 for Full KYC accounts and ₹ 10,000 for Limited-KYC accounts.
You may also recharge your TAG account at an IndusInd Bank Branch or PoS locations near Toll Plazas by paying cash.
For online recharge, please follow these steps:
- Log into Customer Portal at www.fastag.indusind.com, choose 'Customer Login' & enter your username and password
- Go to Payments>Recharge Account
- Select the tag accounts to be recharged and mention the respective amounts to be uploaded
- Choose payment mode as 'Pay Online' and click 'Continue'
- A new window will open with an option to select your bank
- Please select your bank from the list and continue
- You will be asked for the login credentials for your bank account. Please proceed with the details and complete the payment.
- Minimum recharge amount a tag can be recharged with is ₹100.
- Do not refresh the browser or press the 'Back' button in the middle of the transaction
Once your FASTag account is created, please log in to the customer portal and register yourself to generate your user id and password. Please enter the required information in the prompts and the system will send an SMS with your log in details to your registered mobile number. You may call our customer care @ 1860 267 7777 for assistance.
You can avail a cashback of 2.5% on all toll payments using FASTag up to March 31, 2020. The cashback amount for a particular month will be credited back to your FASTag account within 20 working days from the end of the month (subject to receipt of funds from NPCI).
In case ETC equipment are not working and your FASTag account is having sufficient balance, please pay the toll fee in cash at the plaza. Additionally, please call our customer care and also report the issue with the concessionaire.
Yes, the minimum recharge amount is ₹ 100 and maximum is ₹ 1 lac for a Full-KYC Account
You will need to take two separate FASTags for the each vehicle
You will need to call our customer care number to block your FASTag. Once you take a new tag, we will transfer the balance to the new tag account.
You will receive an SMS alert in your registered phone number each time a balance is deducted from your FASTag account.
You can report an incorrect deduction by calling our call centre. For all toll transactions, the toll plaza system sends a request to Bank for debiting the toll amount that is due from you. In the rare scenario of Toll Plaza system sending an incorrect amount, Bank would raise a Chargeback on behalf of you to recover the money that has been collected in excess by Toll Plaza. This Chargeback process normally takes up to 20-30 working days. All incorrect deductions, if proven so, are reverted back post representing the case with Toll Plaza.
You can call our customer care or login to www.fastag.indusind.com to block your FASTag account
OEM or RFID tags fitted by vehicle manufacturer cannot be used as replacement of FASTag. Only FASTags issued by an issuing bank can be used for purpose of electronic toll payment.
Banks are exploring ways to use these tags for ETC , however it will require some new technical development. It will also be subject to tag being in proper condition without any damage or tampering. For now, you will have to purchase a tag from IndusInd Bank in order to use it through us.
FASTag can be used on all toll plazas where it has been implemented. You can check the list of Plazas click here
You can raise a request regarding the same by calling our customer care or login to www.fastag.indusind.com to check your tag/account details.
You will need to submit your documents to the concessionaire validating your residence within 10km of a particular plaza. Once it is verified, you may avail the concession on the FASTag assigned to your vehicle
Vehicles are categorized for the welfare of road users. This categorization is primarily based on the size and load they carry and damage done to the road and type of use (commercial/personnel) of a vehicle.
Concession to local/frequent users are extended as welfare measures. There may be variation in the concessions available as these have been provided at different times under different fee rules and provisions of concession agreement.
In India, the tolling is generally under the open system, whereby fee payable is a fixed amount based on the length of stretch under one project which is normally 60 kilometers. If a stretch is of lesser length, user fee of actual length only may be collected.
As per the fee rules 2008, the spacing between two adjacent toll plazas should be 60 km.
MoRTH/NHAI/IHMCL has launched 1033 helpline number for addressing FASTAG complaints related to Toll Plaza. You can call this number and report the same.
User fee on a particular fee plaza is based on stretch length under that plaza, structures (bridge, tunnel, bypass) and width of the highways, applicable fee rules and provisions of the concessions agreement.
No. You don’t have to pay Security deposit again for replacing your Tag. Login to your a/c at www.fastag.indusind.com, click on the link “Replace my tag” in the left panel. For replacing your tag, you will have to pay a nominal charge of Rs 200 (including currently applicable taxes).
Yes. You can replace your existing FASTag with IndusInd Bank FASTag. However, please ensure you remove other bank’s FASTag sticker from the vehicle and paste ONLY IndusInd Bank FASTag on the vehicle. Pasting more than one FASTag on the same vehicle is a violation and will attract penalty.
MoRTH/NHAI/IHMCL has launched 1033 helpline number for addressing FASTag complaints at toll plaza level. Customer can simply dial 1033 from Mobile/Landline for the following issues:
1) Stopped at the plaza for Tag blacklist reason even though Tag is not blacklisted.
2) Plaza not accepting FASTag
3) Plaza not able to read the Tag
4) Plaza not supporting for monthly pass issuance
5) Any other applicable issue for FASTag
Quickpay is one of a kind service that lets you send money as an e-cheque or as an e-gift card to anyone just with their E-mail ID or Mobile Number. No need to remember account numbers or add as beneficiaries. All that is required is just an E-mail ID or Mobile Number. Also, you can personalize your message and send as an e-gift card to the recipient. At IndusInd, We are happy and take pride to facilitate our customers in making payments or e-gifts anytime, anywhere.
No. It is absolutely free.
Once you initiate a Quickpay, we send a link to the beneficiary where he/she can enter his/her Account Number, Bank Name, IFSC code and receive funds. Only the banks which are supported for IMPS transactions will be displayed in the drop down.
The recipient gets the funds instantly subject to availability of funds in your account!
If you get an SMS from us that your transaction was timed out, the funds will be credited to the recipient/beneficiary within 3 working days. Please quote the transaction reference number that you received on the SMS to the recipient to check with his/her bank after 2 working days, if still he/she has not received the credit.
Please check if the beneficiary has entered his/her account details and IFSC code within 48 hours from the time they have initiated the transaction. You can remind them about the link by re-sending the link within the transaction history option. If he/she has entered the correct bank details and your account has been debited, they should receive the funds instantly.
All customers of IndusInd bank using IndusNet with transactional rights and/or have an active Debit card can avail the service.IndusNet users with only a Credit Card relationship cannot avail the QuickPay service.
Instacode is a One Time Password generated by the system and sent to the remitter via SMS. Instacode has to be shared with the recipient for them to receive funds into their account. You can re-generate one before 48 hours from the initial transaction, from transaction history in case you would like to generate a new code and share it with the recipient.
You can cancel a transaction by visiting the transaction history section as long as the funds are not debited from your account.
You can view or cancel your transaction (as long as it is not debited from your account) under transaction history section.
You can call us at 1860 267 7777 or write to us at reachus@indusind.com for any queries or clarifications or complaints.
If you are an Exclusive or Select customer, you can call us at 1860 267 7777 or write to us at exclusive@indusind.com.
NRI customers can call us at 1860 267 7777 or write to us at nri@indusind.com.
Please provide the transaction reference number, date of transaction, account number to our team for us to resolve your complaints quickly
The bank has a tie-up with FSS the switch service provider to provide this service. FSS in their turn have entered into an arrangement with Paymate, to provide this service.
Minimum is INR 15 and the maximum is INR 10,000.
This service is absolutely free to our customers.
Your bank account will be debited as per real time.
Your account will show an entry as ATM Mobile Recharge along with the mobile number recharged and the card used.
IndusInd accepts the same for processing. If the mobile number exists with the service provider, the same will be recharged. If the number is incorrect the amount would be refunded to you within 3 working days.
On successful completion of the top-up transaction, the topped up mobile will receive a confirmation SMS from the aggregator (Paymate) and the service provider.
Every service provider determines the talk time limit and the tops on your account with the service provider. Please get in touch with your service provider for talk time information.
There could be situations where you do not receive a message for a host of reasons. Please check you mobile account. Your account with the service provider is updated real time. In case there is no change please contact your service provider.
Onthego Banking endeavors to serve you on twitter with your banking needs so that you can stay connected with your bank anytime anywhere.
1. Follow @myindusindbank
2. Just send a Direct Message (DM) in the format #regmob
3. You will receive a One Time Password on SMS
4. Send a Direct Message (DM) #regotp
That’s it you are registered
You can check balance, mini statement, locate ATM/ Branch , simple tags as follows
| 1 | Register | #regmob <10-digit mobile no.> |
| 2 | Registration OTP | #regotp <4-digit OTP> |
| 3 | De-registration | #dereg |
| 4 | De-registration OTP | #deregotp <4-digit OTP> |
| 5 | Balance inquiry | #bal |
| 6 | Mini statement | #mini |
| 7 | ATM location | #atm <pincode> |
| 8 | Branch location | #branch <pincode> |
| 9 | Change primary account | #setprimac <acc no.> |
Any IndusInd Bank account holder with a registered mobile number with the bank can use Twitter Banking. However, for financial transactions only customers with an Active Debit card will be eligible
For, Credit Card only customers it is currently unavailable but we will be live soon.
Send #help and you will receive the link to the kewywords and formats
IndusInd OntheGo Social Banking on Facebook endeavors to serve you on Facebook with your banking needs so that you can stay connected with your bank anytime anywhere on facebook app or messenger when you send keywords and seamlessly integrates Video branch on the desktop version for you to do all banking transactions from facebook. Check our tabs on Facebook page today.
Like IndusInd Bank official page
Just send a message in the format #regmob
You will receive a One Time Password on SMS
Send a message #regotp
That’s it you are registered. If you are on desktop, you can call our Video Branch without any registration.
You can check balance, mini statement, locate ATM/ Branch , with simple tags as follows
| 1 | Register | #regmob <10-digit mobile no.> |
| 2 | Registration OTP | #regotp <4-digit OTP> |
| 3 | De-registration | #dereg |
| 4 | De-registration OTP | #deregotp <4-digit OTP> |
| 5 | Balance inquiry | #bal |
| 6 | Mini statement | #mini |
| 7 | ATM location | #atm <pincode> |
| 8 | Branch location | #branch <pincode> |
| 9 | Change primary account | #setprimac <new a/c no.> |
Any IndusInd Bank account holder with a registered mobile number with the bank can use Facebook Banking. However, for financial transactions only customers with an Active Debit card will be eligible.
For, Credit Card only customers it is currently unavailable but we will be live soon.
We have a set an account as primary account for your convenience but you can change it by sending a Direct Message #setprim <acc no.>
Send #help and you will receive the link to the kewwords and formats
VideoBranch is a service offered exclusively for all IndusInd Bank customers across the world. By using this service can connect with yourBranch Managers, Relationship Managers or with our centralized VideoBranch.
All the services that are currently being offered throughPhone Banking are also available using this facility.In addition to this, you can also do financial transactions like opening an FDor RD, transferring fund through NEFT, RTGS, etc.,
We believe that our customer should be able to access the bank from the device of their choice. You can use your desktop/laptops, tablets or mobile phones
Currently VideoBranch is available for Android and Apple mobile devices in the respective App Stores.
Simply contact your branch or call our phone banking at 1860 267 7777 /022 44066666 to update your mobile number. Once your number is updated, you can enjoy the VideoBranch services and also benefit from alerts and other communication sent by the Bank.
This service is complimentary to all our customers. However, you will have to pay for data plans. We have designed the VideoBranch with the latest technology to ensures optimum utilization of the bandwidth and data.
We have taken all care to ensure that communication between the bank and our customer via the VideoBranch service is safe and secure
You will have to authenticate yourself by using your registered mobile numbers and One Time Password (OTP) that will be sent to your registered mobile number by the banks.
To enjoy the services of VideoBranch, you will have to install Video application. You can download this application from their website – www.vidyo.com or from other App stores depending on the device you are using.
We endeavours to fulfil call-back requests with your Branch Manager or Relationship Manager on the same day for all the requests placed up to 12 pm. For all the requests received post 12pm, a callback will be scheduled for the next working day.
As a customer you have the option to use "Audio Only" facility of VideoBranch. However, in order to do the financial transactions, you will have to use the video conference to ensure security.
VideoBranch does not retrieve user data from the devices. All you have to do is share your mobile numbers with us to access the service.
To use VideoBranch you will need a steady internet connectivity. You can use either Wi-Fi connectivity or 3G connectivity to have a good experience on VideoBranch.
VideoBranch is currently available for Apple and Android mobile operating systems only.
IndusInd Bank VideoBranch is available 24x7, 365 days in a year. You can use this service from any part of the world, any time as long as you have access to your device with internet connectivity.
If you have any technical queries please get in touch with our Call Center at 1860 267 7777/022 44066666.
IndusMobile allows you to bank anytime anywhere through your mobile phone. Get access to your banking information and transact on account 24*7 on IMPS/NEFT .. Make Bill Payments, book Fixed or Recurring Deposits, recharges to your mobile or DTH and a lot more features are available on the app.
If you are an IndusInd Bank customer with an Individual or Joint relation with the bank with an Individual Savings/Current account or an IndusInd Bank Credit Card or a Vehicle loan, you can avail of this Mobile Banking Facility, by registering with us.
As an IndusInd Bank customer, to be able to register for the Mobile Banking service you need to have:
- You have a Savings or Current Account with the Bank
- You have the app downloaded from App store , Play store or Windows store
- Customers with Single/Singly/Either or Survivor/Anyone or Survivor/Former or Survivor/Severally will be able to view and transact. Customer with jointly MOP will be able to only view transactions.
As an IndusInd Bank customer, you need to register for Mobile Banking service by:
- Download the Indus Mobile Application and register online using your Net Banking / Debit Card / Credit Card Credentials.
- Visiting your nearest IndusInd Bank branch and filling in the application form.
The new app, now with a contemporary design, quick balance checks, inclusion of real time fund transfers, Fixed Deposit Booking, Mobile and DTH recharges is loaded with a lot of features. You may need to re-register to upgrade to new IndusInd mobile banking app in case you were using the old app to avail all these features and a lot more.
Yes, you can use this app on iPads and Android Tablets. On iPads, you can search for the app under Phone apps and use it.
Yes, we allow you to use Indus Mobile on more than one device. The max limit is 3.Please do not forget to remove any unused devices
You can register up to 3 persons or relationships on the app. Each will have to be registered separately.
Mobile Banking helps you bank while on move directly through your mobile phone. You can access information and conduct transactions on your IndusInd Bank accounts with the help of your mobile phone.
- List of transactions that can be carried out with IndusMobile are:
- Check account balance , statements
- Check Deposit details and open fixed or recurring deposits
- Check Credit Card and loan details
- Free instant payments and transfers (IMPS, QuickPay)
- Free NEFT
- Add and Pay 250+ bills
- View FCNR deposits
- Get smart notifications
- Service requests
- Mobile and DTH recharges and a lot more
You can totally perform more than 75+ Banking/Credit Card services at your convenience
Indus Mobile requires you to register your mobile number with the Bank for receiving One Time passwords on financial transactions for security reason. In case of a change in your mobile number you would need to get it updated either through an IndusInd Bank Branch or through IndusNet.
IndusInd Bank offers Mobile Banking facility free to all its customers, though operator data charges apply.
To use IndusMobile you will need to set:
- MPIN: Mobile Banking PIN used to login in IndusMobile OR
- PATTERN A new feature used for login OR
- Biometric: If you are using an iOS mobile or Android (above 6.0, specific devices from Samsung, Nexus and Huawei) which has a biometric (Touch ID/Android Fingerprint) feature, the same can be used for logging in.
All transactions require an additional factor of authentication OTP for executing the transactions.
The daily limit of Transaction using IndusMobile is Rs 10,00,000 per day.
Either the beneficiary account details like Account Number or IFSC code is incorrect or that bank is not live on IMPS. To know which banks are live on IMPS (using Account number and IFSC code)visit http://www.npci.org.in/bankmember.aspx We also suggest you to change preferred mode to NEFT to try transferring funds to that beneficiary by visiting if bank is not supported More Menu > Settings Option > Preferred transfer type
You can do QuickPay transactions with just the E-mail ID or Mobile Number. For banks that do not require IFSC code, you can do a One Time Payment
Visit the More tab by clicking on the brand icon and select Settings. Switch off the Balance toggle and then you will not see the balance outside Login
Visit More Menu > Settings Option > Preferred transfer type
Visit More Menu > Settings Option > Change MPIN/Pattern
Tap on Forgot User ID at the login section.Enter the Debit card or Netbanking details and your user name will be sent to your registered Mobile number.
Sorry! This happens when there is a failure at operator's end. The amount will be reversed back into the account within 2-3 working days if you did not get the recharge
Our endeavor is that the app works on as many devices but however due to some technical constraints. Please share your device model number with us by calling 1860 267 7777 and we will confirm on the compatibility.
Visit the Open a Deposit section under the Banking tab. You can select the tenor and the amount and book an RD instantly.
You can book for Rs.1000 and thereon multiples of Rs.100.
You will be able to add only up to 2 beneficiaries per day on IndusNet or IndusMobile put together.
No. You need to register your mobile number with your account with the bank.
Please visit Hamburger menu in the Logged In section and press on Link Relationships.Press on Link your credit card and enter your Credit card number and authenticate to get your relationship linked on IndusMobile.
You can press on brand icon (Zebu bull icon) and on top right will see a "power" button. Tap it to Logout. Alternatively on Accounts Overview screen, tap on the 3 dots and you will see an option to logout.
Google Playstore avoids showing non supported apps in search results. It could be the case that your phone is not supported.
The application will be processed in 2 working days. If successful, you will get it delivered within 15 days of the request. The charges for Debit card upgrade depending on the card variant applied for.
Cash on Mobile is an innovative service that lets you withdraw cash yourself from an IndusInd Bank ATM without any card or send money to your dear ones who can withdraw cash from an IndusInd Bank ATM without any card.
If your Credit card supports NEFT based collection for paying it then, you can use the Beneficiary transfer (if added already on Net banking) or use the One-time payment option to make the payment. Please use NEFT for such payments as not all banks accept IMPS for Credit card payment. Else, if it is a VISA credit card, you can use the One-Time Payment option and select Other Bank Credit Card as the transfer type.
VISA money transfer is a mechanism whereby you can pay your VISA credit card or send money to an account linked to a VISA card. It takes 3 working days to get credited from the successful processing date.
MMID stands for Mobile Money Identifier. This is required in case, a customer wants to send or receive money via IMPS (P2P) with mobile number of the beneficiary for sending money to other banks. Please note this is not the case for IMPS P2A (that uses Account Number and IFSC code) that works just like NEFT for other bank transfers.
Use Forgot MPIN option on the login screen and reset the PIN by giving your Net Banking credentials or Debit card or Credit card details. Then you can Login immediately.
Customer can see the statements for the last 90 days. However, you can request for an e-statement or physical statement for up to 2 years. The Physical statement is chargeable as per the Schedule of Charges for the account which is it is applied for
No, use the Already Registered option and Login with your User ID and MPIN or Pattern or Fingerprint.
We take this additionally just in case you want to use the app on a phone that does not support fingerprint technology, you will be able to login with the MPIN using the Already Registered option.
Please check whether the beneficiary’s account number of IFSC code or MMID/Mobile number is correct. Also, some banks and Credit card issuers do not accept IMPS payments and we would request you to use NEFT in case your bank/Credit card issuer does not support IMPS.
These billers are called Presentment and Payment billers and can be paid only if the amount is presented by the Biller. You will see a notification to Pay Now anytime for other billers that supports one-time or any time payment.
It takes usually 3 working days for the bill to be updated at the merchant/biller end.
An autopay is set for a biller so that you can forget about paying late fees for billers. It will be automatically executed 3 working days in advance from the due date. You can edit/delete it anytime. Once you add an Autopay it takes at least one cycle before it is activated.
Yes, Visit settings of your phone and select the app and turn off notifications.
Yes you can view your FCNR deposits and total balances in each currency on IndusMobile
Yes you can select the add on card and view transactions that are specific to the add on Card under the Credit Card section
The limits on your debit card are basis your Card variant. You can choose to set a lower limit for ATM Withdrawals or Point of Sale transactions basis your needs
It allows you to reset your Debit Card / ATM PIN instantly. Please note that your cash withdrawal limits are reduced to Rs. 5000 for 48 hours post change.
The contact center has the capability for de-registration of the user ID from IndusMobile. You may get in touch with the contact center for any such request.
IndusNet is an online service which allows you to do virtually all your banking activities at your convenience. Through IndusNet you can access all your banking and depository accounts with the bank, 24 hours a day, 365 days a year, from anywhere in the world.
All customers of IndusInd Bank having either savings or current account, operated on either or survivor/anyone or survivor basis, can register for INDUSNET.
IndusNet is a free service, providing you access to your accounts and lets you transact over the internet. However, standard commission/transaction fees for certain bank services still apply. Please refer to the Schedule of Charges to know more on any applicable charge.
There are multiple ways to register:
- Register online using your Debit cum ATM card by visiting www.indusind.com and clicking on the Register Now link
- You may call our contact center on numbers shared in the Contact Us section or
- You may visit our branch
Indusnet is best viewed on 1024 X 768 resolution in Internet Explorer Version 6.0 or higher and Mozilla Firefox Version 3.0 or higher. While IndusNet can be accessed through other browser versions and browser resolutions, some functionality/pages may not load as per expectations.
You need a Java enabled browser, if your browser is not Java enabled Click Here to download the PlugIn. (http://www.java.com/en/download/index.jsp)
At IndusInd Bank, security of your account transactions has always been our priority. We at IndusInd Bank have made all efforts to ensure your security and have already implemented 128-bit Secure Socket Layer (SSL) technology. Plus, a host of internal control measures and processes ensure that your transactions remain confidential.
Listed below are some tips to ensure more security:
- Use the Virtual Keypad to enter your login password and Debit Card PIN
- Change your login password and transaction password on your first login
- Change your password frequently or at least once a month, through the change password option
- Destroy the password after memorising it, do not write down your password or store it anywhere. Avoid using it when others can observe you
- Don't disclose your passwords to anyone; it is both personal and confidential
- Choose passwords that are difficult for others to guess. Do not select easy-to-guess password, like date of birth, telephone number or sequential numbers such as 111111, 12356 etc
- Use letters as well as numbers and a combination of lower case and capital letters in your passwords
- Always log out of IndusNet after using it or whenever you are away from your PC. For security reasons, your login session of Net Banking will be terminated if your browser is left idle for a while
- Always remember to close the browser application after logging out
- Avoid accessing Net Banking through computers installed in public/open areas, e.g. cyber-cafes or libraries
- Our bank does not ask for the details of your account/PIN/password. Therefore, any one pretending to be asking you for information from the bank/technical team may be fraudulent entities, so please be ware. You should know how to operate net transactions and if you are not familiar you may refrain from doing so. You may seek bank's guidance in this regard. Bank is not responsible for online transactions going wrong
- We shall also not be responsible for wrong transactions and want on disclosure of details by you. Viewing option and transactions options on the net are different. You may exercise your option diligently
A user ID and a login password is needed to access IndusNet. To transact (financial and non financial) you would need your Transaction Password or register for One Time Password (OTP).
IndusNet offers you the opportunity to personalise your user ID at the time of registration. You get the freedom of choosing your own user id subject to the same being available.
One Time Passwords (OTPs) are unique single use passwords that can be used for high value transactions and other key services on IndusNet.
In case you have an active IndusInd Bank Debit Card then you can register for OTP through IndusNet else get in touch with our Contact Centre or visit an IndusInd bank branch.
The benefits of using OTP are:
- Using it enables you to undertake transactions of a greater value than using only the transaction password while also ensuring higher security
- Using OTP service allows you to access services that are offered only via the use of OTPs e.g. enabling you to change your contact details
Yes the OTP can be used in place of the transaction password.
An OTP is valid for a few minutes only and can be used for one transaction/request only.
The SMS OTP would be generated by the bank in real-time. The time taken for you to receive the SMS OTP would depend on your mobile operator.
You need to have
- Your IndusInd bank Customer ID
- A valid IndusInd Bank Debit Card
You would also be required to provide any one of the following fields to complete your online registration.
- Date of birth
- Permanent Account Number (PAN)(In case you don't have a valid Debit card please call our Contact Center or visit our branches to know how to register for IndusNet)
You can visit the online registration section available on the login page of IndusNet and commence the process for Online Registration.
There will be 3 attempts allowed to enter your correct login password post which your account will get locked.
In case your id gets locked, you can
- Reset your password online from Activate/Unblock id section on IndusNet login page by providing your debit card and personal details
- Contact your Contact Center and ask the executive to assist you in resetting Login Password
- Your login and transaction password expires every 90 days
- If you choose to reset either password before the expiry then the next expiry is 90 days from the password reset date
In case your passwords expire, you will be prompted to change your password after you log in, and before you login/transact subsequently.
In case you have forgotten your password you can reset the same by validating your debit card details on the "Forgot your Login Password" option.
You can change it by navigating to the "Reset Transaction Password" section via the "Online Preferences" option located at the top of your IndusNet screen. Your password will be changed instantly.
You can view your last 12 months transactions through the transaction query option.
You can download and save the account statement in MS Excel or PDF format.
By clicking on the transactions on the transaction history page you can view details of the transactions. In case it is a transaction where a cheque had been issued by you a copy of the same would also be available. You can also print the copy of the cheque.
The primary account is the default account used for your IndusNet transactions. You can select and set any of your operative rupee accounts as the primary account.
Nicknames are customized names that you can give to your account for your own convenience.
Through the option of account Inquiry you can see a log of all transactions (financial and non financial) done by you on any particular date that you logged into IndusNet.
Manage My Account is a one of a kind facility giving you the freedom to modify your relationship with the bank.
Through Manage My Account you can:
- Update your Personal details
- Upgrade your accounts and Debit cards
- Choose your Debit Card & IndusNet Transaction Limits
- Link deposits to your accounts
- Customise alerts to be delivered on SMS, Email and IndusNet
This facility is currently provided free of charge. Though there would be certain charges for certain services provided through this service. Please refer to the Schedule of Charges to know more on any applicable charge.
You can transfer funds between any of your transaction accounts i.e. between your savings and current accounts. You can also transfer to pre-designated 3rd party accounts (Inter or Intra branch).
Your transfers get processed instantly. Third Party Transfers can be scheduled for future dates.
Using the Add Beneficiary option you can register either another IndusInd account or an account with another bank for transfers.
The daily limit and per transaction limit as displayed in the limit Inquiry is applicable for transfer amounts.
Through IndusNet you can use two routes to transfer funds to accounts in other banks in India:
- National Electronic Fund Transfer (NEFT): Make funds transfer requests online to an account in another bank. Funds are transferred to the credit account with the other participating bank using RBI's NEFT service. RBI acts as the service provider and transfers the credit to the other bank's account
- Real Time Gross Settlement (RTGS):You can make online fund transfers via the RTGS system
Yes. You would even be able to create a frequency of such payments by selecting the Recurring Option & setting the Transaction Date in the Funds Transfer section.
There is no charge for the e transfers service.
RTGS (Real Time Gross Settlement) is a payment system launched by the RBI in which payment instructions are transferred instantaneously to a beneficiary holding an account with a bank branch which is registered for RTGS by the RBI.
You need to transfer a minimum of INR 200, 000 in a single fund transfer transaction to avail of the RTGS facility.
Debit from the account will be made online and the transfer will be done on the same day. A client will be unable to do a transfer if it is done post the cut off time that day. Cut off times as below:
RTGS : Available 24*7
NEFT: Available 24*7
Based on selection of location and bank name, there will be a list of participating branches displayed. In case, the required branch appears in the list, the same indicates that the branch participates in RTGS.
There is no charge for the RTGS service.
No.Based on a simple search option of location, bank & branch, The IFSC code will automatically be populated.
The bank will credit the funds back to your account with appropriate return reason as received from the beneficiary bank
View & Pay is an extremely simple, convenient and secure way to view and pay your bills. Through this service you can view and pay your electricity, telephone, cellular, insurance and other bills using your IndusInd Bank Account. You can do all this from the comfort of your house or office, over the Internet - any time, any place.
Paying bills with View & Pay simplifies your life. Your payments are made quickly and conveniently, and you no longer have to track multiple utility bills, write multiple checks or balance your check book.
If you are registered on IndusNet you can use the BillPay service. Once logged in you can go to the Bill Payment Tab and add all your Billers. You can then check the due amount on each of your bills, and click on payment option to make automatic payment using your IndusInd Bank Account.
After registration you can log into your account and start adding billers. Subject to your providing correct biller details all future bills raised within a week of your biller addition date will start getting raised in your account.
Subject to correct submission of the biller details by you, all your future bills that are raised within 1 week of your biller addition date, will start getting raised in your account. If any of your biller addition gets rejected, you will be able to view the status when you log in. In case of payment only type billers the biller does not need to be registered, an instant payment can be made to him.
You will receive an e-mail/sms alert every time your bill is received.
Login into your account, check the amount and make a payment by clicking on the auto-Instant pay button.
You can
Pay bills by clicking on the auto-instant pay button.
- All the details from your bill are automatically captured, you can validate and click on the submit button
- This will take you to a secure payment gateway, where you will have to provide your IndusInd Bank Account details
- You will get a confirmation immediately on transacting on whether the transaction has been approved
You can use any of your IndusInd Bank accounts.
To ensure that your payments arrive before a due date and to avoid late payment charges, you need to make your payment at least 3 working days before the bill due date.
The biller specific terms are clearly indicated on the biller page when you are validating the Instant pay screen. Please adhere to them strictly. Where billers do not entertain late payments, any payment made by you after due date is liable to be rejected by the biller with attendant penalties.
On payment of the bill your account will get immediately debited online and the payment is sent to the utility company by the next working day. The same will get credited to your utility account in 3 working days time.
Yes, you can pay someone else's bill through IndusInd Billpay.
When your payment has been successfully made, you get a reference number for your transaction. Your IndusInd Bank Account statement will also include the details of your transaction under Instant pay transaction. This amount will be inclusive of the processing fee charged for each transaction.
Yes, you can pay your bills from any location through internet.
Please ensure you have free/unutilised credit limit in your account to make the payment otherwise the transaction will not get authorised.
You will continue to receive your physical bill even after registering for this service with us.
IndusInd Billpay has no way to stop a payment after it has been processed. You should contact your biller.
View & Pay employs the best-in-class security so that the transactions done through the View & Pay service are secure. View & Pay uses Secure Socket Layers (SSL) data encryption. Using SSL ensures that the information you exchange with IndusInd BillPay is never transmitted over the Internet unencrypted and cannot be viewed by unauthorised individuals. View & Pay uses SSL to protect users from unauthorized tampering or viewing of their account and billing information. This encryption is done using 128-bit RC4 encryption.
This facility is currently provided free of charge.
Alerts are IndusNet notifications that the bank will send you. These can be received on your welcome screen, to your email account, or to your mobile phone. In the Alerts section, you can select the kind of alerts you wish to receive, and on which channel.
- Account related alerts
- Bill Payment alerts
- Alerts on IndusNet activities
You can change your email & mobile phone details from the "Manage Relationship" section.
No! Please do not reply to any of the alerts that are sent to your registered email address.
This service is currently provided free of charge.
The requests that can be placed online are:
- Stop Cheque Payment
- Cheque Book Request
- Demand Draft Request
- Fixed Deposit Opening Request
- Status of Inward clearing Instruments
- Charge Plan Request
- Account Statement Request
- E-statement Registration Request
- Mobile Alerts Registration Request
- Cheque Pick up
- Deposit Maturity Change Request
- Sweep In Deposit
- Notification of lost or stolen card
- Debit Card Activation Request
- Debit Card Modification Request
- Upgrade Card
- Link Accounts
- Redeem Points
- Upgrade Limits
- Profile Change Request (Primary/Linked Customer ID)
- Email & Mobile
- PAN & DOB
- Customer Address
- Account Address
- Grouping of customer id request
- IndusNet Limit Change Request
- Delink Customer ID
IndusNet provides you with the facility to book your fixed deposits online. Through the "Service Request" option you can create your fixed deposits.
The fixed deposit advice will reach you at your mailing address 7 working days from the date of placing the request on IndusNet
This facility is currently not available through IndusNet though you can change the maturity instructions of your deposit online.
When your Fixed Deposit request is submitted, you will receive a Unique Reference Number. Your new Fixed Deposit will also be listed in your account statements and will reflect in the transaction history of your funding account. In addition there will be a mail in your IndusNet Mailbox confirming the same.
Your stop payment will be done instantly. A confirmation message of the same would be sent to you through the registered email and SMS.
This service is currently provided free of charge.
The doorstep banking co-ordinator from the nearest Indusind Bank branch will contact you to take the request forward. The timing of the cash delivery will be communicated by the Doorstep Banking co-ordinator.
When your request is submitted you will receive a unique reference number confirming the same. You can track the status of your requests in the "Service Request" section. When your request is processed, you will receive a notification on IndusNet, Email & SMS confirming the same and it will also reflect in the transaction history of your funding account.
Your daily IndusNet transaction limits apply for Doorstep Banking as well.
This service is currently provided free of charge.
You can either
- Visit our branches or ATMs
- Write to us through IndusNet
- Call our contact center at call our Contact Center from Monday to Saturday between 8:00 am to 11:00 pm
- Mumbai Customers : (022) 4406 6666
- Customers with MTNL/BSNL Numbers : 1860 267 7777
- Other Customers : 1800 209 0061
Please check the BRANCH/ATM Locator to find the branch/ATM closest to you.
KYC will be carried out at the following stages:
- Opening a new account
- Opening a subsequent account where documents as per current KYC standards not been submitted while opening the initial account
- Opening a Locker Facility where these documents are not available with the bank for all the Locker facility holders
- When the bank feels it necessary to obtain additional information from existing customers based on conduct of the account
- When there are changes to signatories, mandate holders, beneficial owners etc
KYC will also be carried out in respect of non-account holders approaching the bank for high value one-off transactions like Drafts, Remittances etc
The Bank is required to refuse to open the account (if you are a prospective customer) or discontinue its relationship with you citing non-providing of KYC information / documents (if you are an existing customer).
Money Laundering refers to conversion of money illegally obtained to make it appear as if it originated from a legitimate source. Money laundering is being employed by launderers worldwide to conceal criminal activity associated with it such as drugs / arms trafficking, terrorism and extortion. All crimes that produce a financial benefit give rise to money laundering.
The first step in the laundering process for criminals is to get their money into an account with a Bank, often using a false identity and address. The funds so deposited will be transferred to other accounts locally or abroad or used for buying goods or services.
These transactions would appear to be like any legally earned money and becomes difficult to trace it back to its criminal past. Banks under law should not only prevent this, but should stop criminals who wish to use the banking channel to launder the ill-gotten money from illegal / criminal activities
A key defense against money laundering is to prevent accounts being opened in false identities. Anyone wishing to open an account will therefore be asked for proof of their identity and address. These documents have to be essentially obtained irrespective of the type of account to be opened and the purpose for which the account is opened for.
The fact that these documents are asked for opening of account does not mean that you are suspected of money laundering. Criminals try to appear to be normal lawabiding customers, for example they may try to open a number of accounts using small amounts of money. Hence it is necessary to identify all prospective account holders or customers. Any body including a criminal could falsely use your identity, if these identity documents are not obtained.
- Under the Prevention of Money Laundering Act (PMLA) 2002, and the Rules thereof, the banks are required to report certain transactions to the nominated agency.
- Under regulatory instructions issued by the Reserve Bank of India in consultation with the Government of India and Indian Bank’s Association:
- Demand drafts, mail transfers and travelers cheques for Rs. 50,000/- and above can be issued only by debit to customer’s account or cheque etc, and not against cash payment
- Demand drafts, mail transfers and travelers cheques for Rs. 50,000/- and above can be paid by banks only by credit to customer’s account or through other banking channels and not cash
Your contact point in the Bank will be the Branch with which your account is opened.
As regard to documentation please refer Account Opening Form, which is available at our Branches or on our website www.indusind.com . For further clarification kindly meet any of our Customer Service Executives at the Branch or call in our toll free no. 1860 267 7777 or 1800 2090061
- You can help prevent crime, tax evasion and the laundering of the proceeds of such crime or evasion by being patient and co-operating when a Bank staff asks you to provide documents to prove your identity / address.
- You can also help prevent crime against yourself and others by maintaining confidentiality of your account details and identity documents
‘GST’ stands for “Goods and Services Tax”, and is a comprehensive indirect tax levy on manufacture, sale and consumption of goods as well as services at the national level. It replaces all the indirect taxes, hitherto, levied on goods and services by the Central Government through central legislations and by various State Governments through their respective State legislations.
It is a destination based tax on consumption of goods and services. It is levied at all stages right from manufacture up to final consumption with credit of taxes paid at previous stages available as setoff. In a nutshell, only value addition will be taxed and burden of tax is to be borne by the final consumer.
The GST replaces the following taxes:
- Service Tax]
- Excise duty
- State VAT
- Central Sales Tax
- Luxury Tax
- Entry Tax (all forms)
- Entertainment and Amusement Tax (except when levied by the local bodies)
- Taxes on advertisements
- Purchase Tax
- Taxes on lotteries, betting and gambling
- State Surcharges and Cesses so far as they relate to supply of goods and services
- Excise duty levied under the Medicinal & Toiletries Preparation Act
- Countervailing duty in lieu of excise duty
- Special additional duty of customs
- Surcharge and Cesses (relating to supply of goods and services).
The GST Council shall make recommendations to the Union and States on the taxes, cesses and surcharges levied by the Centre, the States and the local bodies which may be subsumed in the GST.
HSN (Harmonised System of Nomenclature) code shall be used for classifying the goods under the GST regime. Services will be classified as per the Services Accounting Code (SAC).
Supply of goods and/or services is the taxable event under GST. Central Goods and Service Tax (‘CGST’) & State Goods and Service Tax (‘SGST’) or Union Territory Goods and Service Tax (‘UTGST’) will be levied on intra-state supplies while Integrated Goods and Service Tax (‘IGST’) will be levied on inter-state supplies.
- A person who carries a business in India or in any state of India except Jammu and Kashmir; he would be taxable person or he is required to take registration under the Act
- Who are already registered under Excise, Service Tax & VAT, they are taxable person too.
- Central Government, State Government & local authorities are taxable person except for the activities which are specified in the law.
Under the GST regime, tax is payable by the taxable person on the supply of goods and/or services. Liability to pay tax arises when the taxable person crosses the turnover threshold of Rs. 20 lakhs (Rs. 10 lakhs for North Eastern & Special Category States) except in certain specified cases where the taxable person is liable to pay GST even though he has not crossed the threshold limit. The CGST / SGST / UTGST and IGST are payable at the rates specified in the Schedules to the respective Acts.
As far as the consumer is concerned, the GST is included in the invoice and the same shall have to be paid to the supplier of goods or services. This process was the same when service tax was charged till June 30, 2017.
Any person should take a Registration, within thirty days from the date on which he becomes liable to registration, in such manner and subject to such conditions as may be prescribed.
No. Every person who is liable to take a Registration will have to get registered separately for each of the States where he has a business operation and is liable to pay GST.
No. GSTN shall migrate all such assesses/dealers to the GSTN and shall issue GSTIN and password. They will be asked to submit all requisite documents and information required for registration in a prescribed period of time.
Every person who has units in the SEZ location or is a SEZ developer shall make a separate application of registration as a business vertical distinct from other units which are located outside the SEZ location. Multiple units in the same SEZ may obtain a single registration.
The time of supply of services generally shall be as below:
- If invoice is raised within 30 days (45 days in case of services supplied by an insurer or a banking company or a financial company, including a non-banking financial company), then time of supply shall be earliest of the following:
- The date of issue of invoice or
- Date of receipt of payment
- If invoice is not raised within prescribed period as mentioned above, then time of supply shall be earliest of the following:
- The date of provision of service or
- Date of receipt of payment
The time of supply of services in cases other than (a) and (b) shall be the date on which the recipient shows the receipt of services in his books of account. Provided that where supplier receives an amount up to INR 1000 in excess of the amount indicated in the tax invoice in respect of taxable service, he may opt to pay GST on the date of issue of invoice for such excess amount.
The time of supply of additional value of supply by the way of interest, late fees or penalty for delayed payment of any consideration shall be the date on which the supplier receives such additional payment.
What is time of supply of service in case of tax payable under reverse charge?
- The date on which the payment is made or the date of payment as entered in the books of accounts of the recipient; or
- The date immediately following sixty days from the date of issue of invoice or any other document by the supplier.
The value of taxable supply of goods and services shall ordinarily be ‘the transaction value’ which is the actual price paid or payable, when the parties are not related and price is the sole consideration. Value of supply between distinct or related person shall be open market value of supply. However, where the recipient is eligible for full Input Tax Credit (‘ITC’), invoice value shall be deemed to be the open market value. The Act and rules thereof provide for various inclusions and exclusions from the ambit of transaction value.
Payment can be done by the following methods:
- Through debit of Credit Ledger of the tax payer maintained on the Common Portal – only tax can be paid. Interest, Penalty and Fees cannot be paid by debit in the credit ledger. Tax payers shall be allowed to take credit of taxes paid on inputs and utilize the same for payment of output tax. However, no ITC on account of CGST shall be utilized towards payment of SGST and vice versa. The credit of IGST would be permitted to be utilized for payment of IGST, CGST and SGST in that order.
- In cash by debit in the Cash Ledger of the tax payer maintained on the Common Portal. Money can be deposited in the Cash Ledger by different modes, namely, E-Payment (Internet Banking, Credit Card, Debit Card); Real Time Gross Settlement (RTGS)/ National Electronic Fund Transfer (NEFT); Over the Counter Payment in branches of Banks Authorized to accept deposit of GST.
- If there are any discrepancies noticed in relation to electronic cash ledger or electronic credit ledger the same shall be communicated to the concerned jurisdiction through a common portal in Form GST PMT - 04
Payment of taxes by the normal taxpayer is to be done on monthly basis by the 20th of the succeeding month. Cash payments will be first deposited in the Cash Ledger and the taxpayer shall debit the ledger while making payment in the monthly returns and shall reflect the relevant debit entry number in his return. Payment can also be debited from the Credit Ledger.
Input tax means the central tax (‘CGST’), State tax (‘SGST’), integrated tax (‘IGST’) or Union territory tax (‘UTGST’) charged on supply of goods or services or both made to a registered person. It also includes tax paid on reverse charge basis and integrated tax goods and services tax charged on import of services. It does not include tax paid under composition levy.
Following four conditions are to be satisfied by the registered taxable person for availing ITC:
- He is in possession of tax invoice or debit note or such other tax paying documents as may be prescribed;
- He has received the goods or services or both;
- The supplier has actually paid the tax charged in respect of the supply to the government; and
- He has furnished the return under section 39
Yes, the recipient can take ITC. But he is required to pay the consideration along with tax within 180 days from the date of issue of invoice. This condition is not applicable where tax is payable on reverse charge basis.
The credit mechanism under GST have certain rules like Input CGST should be used for paying Output CGST first and only then it is allowed to be utilised against Output IGST Liability. Similarly, Input SGST can be used for paying Output SGST first and only then it is allowed to be utilised against Output IGST Liability. IGST should be used first for output IGST liability, then it should be used against output CGST liability and at last it should be used against SGST liability
A registered person shall not be entitled to take input tax credit beyond the month of September of the following financial year to which invoice pertains or date of filing of annual return, whichever is earlier. The underlying reasoning for this restriction is that no change in return is permitted after September of next financial year. If annual return is filed before the month of September then no change can be made after filing of the annual return.
A normal registered taxpayer has to file the inward/outward supply details transaction wise in relation to various types of supplies received/made in a month, namely inward/outward supplies from/to registered persons, inward/outward supplies from/to unregistered persons (consumers), details of Credit/Debit Notes, zero rated, exempted and non-GST supplies, exports, and advances received in relation to future supply.
The basic principle of GST is that it should effectively tax the consumption of such supplies at the destination thereof or as the case may be at the point of consumption. So place of supply provision determine the place i.e. taxable jurisdiction where the tax should reach. The place of supply determines whether a transaction is intra-state or inter-state. In other words, the place of Supply is required to determine whether a supply is subject to SGST/UTGST plus CGST in a given State or Union territory else would attract IGST if it is an inter-state supply.
Yes, the registered taxable person shall be entitled to such credit and it will get credited to his electronic credit ledger subject to certain conditions as prescribed.
Yes, the details to be captured in the invoice, credit note, debit note etc. have been specifically provided in invoice rules as released by the GST council.
FATCA stands for Foreign Account Tax Compliance Act (FATCA), which was introduced by the US Government in October 2009, but became law as part of the Hiring Incentives to Restore Employment (HIRE) Act on March 18, 2010. FATCA is aimed at ensuring that US persons with financial assets outside of the US are pay US tax.
Under FATCA, Foreign Financial Institutions (FFIs) have to report accounts of US persons to the US Inland Revenue Service (IRS) either directly or indirectly. They have the option of entering into agreements directly with IRS, or through the Inter-Governmental Agreements (IGA’s) signed by their home countries.
Government of India has signed an Inter-Governmental Agreement (IGA) with the Internal Revenue Service, Government of U.S.A.
The objective of FATCA is to detect, deter, and discourage offshore tax evasion by U.S. citizens or residents by requesting information about U.S. persons to increase transparency for the U.S. Internal Revenue Service (IRS) and imposing a withholding tax where the applicable documentation and reporting requirements are not met. FATCA’s provisions are designed with incentives for FFIs and USWAs to provide information to the IRS on financial accounts held by U.S. persons:
- Directly investing outside the U.S.; or
- Indirectly investing through a non-U.S. entity
FATCA requires US persons including individuals who live outside the United States, to report their financial accounts held outside of the United States, and requires non- US financial institutions to report details of their US clients to the relevant tax authorities.
A U.S. person is:
- A citizen or resident of the United States (including a green card holder).
- A partnership, corporation, estate, trust incorporated or created under U.S. law (U.S. incorporated entity)
- A non U.S. incorporated entity having shareholding of 10% or more or ownership (Substantial Ownership) held by
- An Individual who was born in the U.S. or is a U.S. citizen or a U.S. resident (including green card holder) or has a U.S. address or U.S. mailing address or U.S. ‘in care of’ or ‘hold mail’ as a sole address.
- A U.S. incorporated entity as described above.
An FFI is a foreign financial institution, which is any non-U.S. entity that:
- Accepts deposits in the ordinary course of a banking or similar business;
- As a substantial portion of its business, holds financial assets for the account of others;
- Is engaged (or holding itself out as being engaged) primarily in the business of investing, reinvesting, or trading in securities, partnership interests, commodities, or any interest in such securities, partnership interests, or commodities;
- Is a specified insurance company; or
- Is a holding company or treasury center
Generally non-U.S. entities such as banks, broker/dealers, insurance companies, hedge funds, securitization vehicles, and private equity funds will be considered FFIs
The Government of India has entered into an Inter-Governmental Agreement (IGA) with Internal Revenue Service (Government of US) for implementation of FATCA. In view of this all banks and other financial institutions in India will be required to identify, establish and report information on financial accounts held directly or indirectly by US persons.
FATCA legislation will affect both personal and business customers who are treated as ‘US Person’ for US tax purposes. The FATCA legislation will also affect certain types of businesses with US owners.
The Bank must:-
- Undertake certain identification and due diligence procedures involving our new customers
- Fulfill reporting requirements as may be defined by RBI/tax authorities in this regard. Therefore we would be reviewing our existing customer base to confirm our customers’ FATCA status, and where necessary we may contact our customers for further information and documentation.
If you are a US person you may have to submit some additional information and documentation. Please visit the IRS web site in this regard.
In general FATCA does not apply to non- US persons. However, if any one of the indicators mentioned below is found, you may be required to provide additional information/documentation to determine if you are a US Person under FATCA.
- US citizenship or US residence
- US place of birth
- US address including US PO boxes
- US telephone number
- Repeating payment instructions to pay amounts to a US address or an account maintained in the US
- Current Power of Attorney or signatory authority granted to a person with a US address
- If ‘Care of’ or ‘Hold mail’ address which is the sole address for the account holder
A joint account that has one US owner is treated as a US account and the entire account is subject to reporting as US person.
Yes. FATCA covers a wide range of entities and not just US incorporated entities
FATCA is an ongoing process. If there is a change in the account information, we may be required to contact you to obtain additional information/documentation.
To view ‘My Preferences’, kindly navigate to the ‘Credit Card Details’ page and click the ‘i’ icon on the Credit Card Image. Under this section, you can check your
- Preference for Domestic/International Transactions - ‘Enabled’ or ‘Disabled’
- Preferred Mailing Address - ‘Current Residence’ or ‘Office’
- Statement Preference - ‘Paper’ or ‘Email’ statements.
As part of this Service Request category, you can
- Set/Reset Credit Card PIN on-the-go
- Temporarily block/unblock your Credit Card instantly
- Permanently block your Credit Card on-the-go
- Request for a Replacement Card
IMPORTANT: You can raise a Replacement Card request on the IndusMobile App only after blocking your Credit Card.
If you use the Temporary Block Credit Card Service, the selected Credit Card will be blocked temporarily and you will not be able to use the Card for any purchases and cash withdrawals.
If you have blocked your Credit Card temporarily, Unblock Credit Card option will be displayed under Card Related Requests category in the Service Request section. You can unblock your Credit Card instantly using this service request.
As part of this Service Request category, you can
- Update Email ID/Mobile No. for Credit Card
- Update Address for Credit Card or
- Change Mailing Address Preference from Residence to Office or vice-versa
As part of this Service Request category, you can control the usage on your card by enabling/disabling Domestic or International Transactions on your Card.
You can enable/disable all transactions at Domestic/International Merchants on the chosen Card using this Service Request, on the go. However, we recommend you keep your Domestic/International Transaction Preference enabled to avoid transaction declines.
As part of this Service Request category, you can
- Request for e-Statements
- Switch to Email Statements Only
The ₹2000 denomination banknote was introduced in November 2016 under Section 24(1) of RBI Act,1934 primarily with the objective to meet the currency requirement of the economy in an expeditious manner after withdrawal of the legal tender status of all ₹500 and ₹1000 banknotes in circulation at that time. With fulfilment of that objective and availability of banknotes in other denominations inadequate quantities, printing of ₹2000 banknotes was stopped in 2018-19. A majority of the ₹2000 denomination notes were issued prior to March 2017 and are at the end of their estimated life-span of 4-5 years. It has also been observed that this denomination is not commonly used for transactions. Further, the stock of banknotes in other denominations continue to be adequate to meet the currency requirement of the public.
In view of the above, and in pursuance of the “Clean Note Policy” of the Reserve Bank of India, it has been decided to withdraw the ₹2000 denomination banknotes from circulation.
It is a policy adopted by RBI to ensure availability of good quality banknotes to the members of public.
Yes. The ₹2000 banknote will continue to maintain its legal tender status till 30th Sept 2023
Yes. Members of the public can continue to use ₹2000 banknotes for their transactions and also receive them in payment. However, they are encouraged to deposit and/or exchange these banknotes on or before September 30, 2023.
Members of the public may approach bank branches for deposit and/or exchange of ₹2000 banknotes held by them.
The facility for deposit into accounts and exchange for ₹2000 banknotes will be available at all banks until September 30, 2023. The facility for exchange will be available also at the 19 Regional Offices ROs of RBI having Issue Departments until September 30, 2023.
Deposit into bank accounts can be made without restrictions subject to compliance with extant Know Your Customer (KYC) norms and other applicable statutory / regulatory requirements.
Members of the public can exchange ₹2000 banknotes upto to a limit of ₹20,000/- at a time.
Yes, exchange of ₹2000 banknotes can be made through BCs upto a limit of ₹4000/- per day for an account holder.
To give time to the banks to make preparatory arrangements, members of the public are requested to approach the bank branches or 19 Regional Offices (ROs) of RBI having issue departments from May 23, 2023 for availing exchange facility.
No. A non-account holder also can exchange ₹2000 banknotes up to a limit of ₹20,000/- at a time at any bank branch.
Deposit into accounts can be made without restrictions. The ₹2000 banknotes can be deposited into bank accounts and cash requirements can be drawn thereafter, against these deposits.
No. The exchange facility shall be provided free of cost.
To make the entire process smooth and convenient for the public, a period of over four months has been given for deposit and/or exchange of ₹2000 banknotes. Members of the public, are therefore, encouraged to avail this facility at their convenience within the allotted time and can deposit/ exchange the money till 30th Sep 2023
For redress of grievance in case of deficiency of service, the complainant / aggrieved customer may first approach the bank. In case of no response within a period of 30 days after lodging of the complaint or if the complainant is not satisfied with the response/resolution given by the bank, the complainant can lodge the complaint under the Reserve Bank - Integrated Ombudsman Scheme (RB-IOS), 2021 at the Complaint Management System portal of RBI (cms.rbi.org.in).
Yes, deposit and exchange facility is available at all IndusInd Branches.
Exchange facility for ₹2000 banknotes is available to both, IndusInd and Non-IndusInd Bank customer.
Yes, RBI has issued various circulars and FAQs on this. Please refer the official website of RBI to read the circulars and FAQs. The FAQs issued by RBI are available at below link: https://www.rbi.org.in/Scripts/FAQView.aspx?Id=157
Cards
Credit Card
Credit Card
Issued by renowned banks and financial institutions, a credit card enables the cardholder to purchase some products or avail of some services on credit. Owning a credit card enables people to borrow funds from the bank or financial institution, with a promise that they will pay off the amount within a specific time. The cardholder doesn’t need to pay any interest if they repay the amount within the specified interest-free period. The cards have a pre-set borrowing limit, which indicates the maximum amount of money a person can spend using the credit card. IndusInd Bank has a superior credit card range to meet the requirements of their customers. Do a credit card comparison and select the best credit card that matches your requirements.
A credit card when used wisely can help you manage your finances with ease. It enables you to borrow a certain sum of money, which can be repaid by you later in instalments. An interest is charged on the amount of money that you borrow in case you don’t repay the amount by the payment due date. Interest rates on your credit card may vary depending on the type of credit card you are using and the bank that has issued your credit card.
Using a Credit Card not only provides financial assistance but also has a number of benefits depending on the card type. Some of them are mentioned below:
- Earn attractive reward points and cashback
- Enhances your credit rating
- Get frequent flyer miles
- Worldwide acceptance
Some basic credit card features are as follows:
- Credit Card types – A credit card issuer may issue several types of credit cards.
- Credit Card balance – The total amount you owe to the bank.
- Credit limit – The maximum balance you can have on the credit card at any time.
- Grace Period – The time you have to pay your full balance before a finance charge is applied.
- Annual Percentage Rate (APR) – The interest rate charged on any debt that is carried out after the grace period.
At IndusInd Bank, we understand that every customer has a different financial need. Considering this, we have designed the best credit card range that comes with endless benefits and privileges to meet the specific needs of our customers. The credit card range offered by IndusInd Bank maximises everything starting from rewards, cashbacks, entertainment deals, dining offers, and more. You can easily apply for a credit card online and select a card that best matches your requirements.
There are some conditions to determine your eligibility for a credit card:
To apply, you must be at least 18 years old. On the other hand, the upper-limit age is 75 years.
- You must have a regular income and provide proof of the same. The amount of income needed varies based on the requested credit card type.
- A solid credit history demonstrates your ability to responsibly manage your credit.
- You must be an Indian resident apply for a credit card in India.
Apply for credit card with IndusInd Bank in 3 easy steps. All you need to do is visit the bank’s website https://www.indusind.com/in/en/personal/cards/credit-card.html and submit your credit card application. Alternatively, you can call the 24-hour helpline number of IndusInd Bank, which is 1860 267 7777 and apply for a credit card. Also, when applying, you must do a credit card comparison to choose the best credit card that suits your requirement.
Getting your own instant credit card is easy. You need to follow the steps mentioned below to apply for credit card online:
- Visit https://induseasycredit.indusind.com/customer/credit-card/new-lead and provide few basic details like your mobile number, PAN card number etc. to get started.
- Verify your address details
- Choose a card that best matches your requirements
- Complete your application with an instant video KYC
- Sit back & relax, the card will be delivered to your address within 24-48 hours.
To apply for credit card online, you need to keep the below documents handy:
- Aadhaar number
- PAN
- Proof of residence if the current address is not same as the address in Aadhaar
- 6 months’ Bank statements (optional)
You can call our Helpline Number 1860 267 7777 to check the status of IndusInd Bank credit card application. The bank will send an SMS to your registered cell phone number as soon as your application is processed.
Your card comes pre-activated for PIN based domestic transactions. To start using the card instantly, you can set your credit Card Pin through the Mobile Banking App (IndusMobile) or Net Banking (IndusNet). You can also manage your transaction preferences and set transaction limits basis your usage requirement on IndusInd Service Portal by visiting https://pay.indusind.com/crd/#/login
Reward points are a form of incentive offered by credit card issuers, earned by cardholders through eligible transactions. Accumulated over time, reward points reflect the cardholder's spending activity. These points can be redeemed for various benefits, such as airline miles, brand vouchers and gift cards, merchandise or even direct cash credit to card account depending on the credit card's rewards program.
IndusInd Bank credit card holders can call the Phone Banking service to place a reward points redemption request. They can also redeem their reward points online on the official website of Indus Moments by visiting www.indusmoments.com. IndusInd card holders also get to enjoy evergreen reward points where they can redeem the points anytime as per their convenience without worrying about the expiry of accumulated reward points.
You can review your IndusInd Bank credit card reward points summary by referring to your most recent credit card statement. You can also check your reward points balance on Net Banking (IndusNet) and Mobile Banking App (IndusMobile).
IndusInd Bank credit card holders can call the Phone Banking service to place a reward points redemption request. They can also redeem their reward points online on the official website of Indus Moments by visiting www.indusmoments.com.
The interest on the outstanding amount is calculated on a daily basis. If the total amount is not paid off by the due date, interest will be levied on the total amount. Interest is also levied on accrued interest.An interest of 3.83% per month shall be levied (46% per annum).
Please note: Interest rates on your credit card may vary across different types of Credit Cards.
The cash advance fee or interest rate on credit card cash withdrawals may vary depending on the amount. Interest will be levied on all cash advances from the date of the transaction until the date of payment.Please refer to Schedule of chargesto know the cash withdrawal charges applicable on your IndusInd Bank Credit Card.
All the purchases don’t attract an interest charge. If there are no out-standings on the credit card, cardholders have a grace period of up to 50 days within which they can make the payment for retail purchases. However, for cash withdrawal transactions, there is an interest charge from the date of the transaction till the payment date. Additionally, cardholders are also required to pay a transaction fee for cash withdrawal transactions.
The limit is ₹15,000/- per transaction.
Interest charges are levied if Total Amount Due is not paid off by due date and Late Payment charges are applicable if the minimum due amount is not paid by the due date. Over limit charges are applicable if the total outstanding dues on the credit card exceeds the assigned credit limit.
The grace period is only available on retail transactions if there is no outstanding amount payable on the Credit Card. In case your previous credit card bill is due, all fresh purchases will attract interest from the date of purchase.
Withdrawing cash using a credit card is a simple process. Go to a nearby ATM, insert your credit card into the ATM, and then follow the on-screen instructions.
You are required to pay an additional fee when you use a credit card to make a cash withdrawal. Bank charges 2.5% of the amount you withdraw using a credit card as a credit card cash advance fee. Credit card cash advance fee is subject to change based on periodic review by IndusInd Bank. Since cash withdrawal transactions attract interest charge from the date of transaction, it is recommended to settle the same at the earliest possible to minimize the outgo towards interest charges.
Paying your credit card bill is easy with IndusInd Bank. There are different payment options available and you can choose any one of the options to make the payment.
- Pay the bill online from the comfort of your home or office
- Use cheques or draft drop boxes at multiple drop box locations
- Pay using NEFT facility in case you have a savings account with any other bank other than IndusInd Bank
- Pay using Swift transfer from your local bank branch abroad
- Use the auto-debit facility if you have an account in IndusInd Bank. The auto-debit option will authorise the bank to deduct the amount from your account
- Visa money transfer can be used by IndusInd Bank Visa cardholders to transfer funds online from their bank account
- Fill the NACH form to authorise IndusInd Bank to deduct the money from your bank account
Yes, you can make part-payment or pay the minimum amount that’s due from your credit card bill to avoid late payment fees.
You can block your IndusInd Bank credit card in four ways: using IVR/Phone Banking, Net Banking, Mobile Banking and SMS. Follow the below-given steps to block your IndusInd Bank credit card:
Using IVR/Phone Banking
- Call 18602677777 to block your credit card on the IVR. You can also talk to our Phone Banking Officer to block your credit card.
Using IndusNet
- Login to IndusNet and click on the Service Requests tab.
- Next, select Credit Card Requests
- Click the Credit Card Blocking Request button.
- Select the credit card you want to block, enter the reason for blocking, and press Submit.
Using IndusMobile App
- Log into the app.
- Select the Service Request tab from the credit card details screen.
- Choose the credit card you wish to block.
- Choose Card Related Requests and continue.
- Click block credit card.
Using SMS
To immediately block your credit card, SMS BLOCK <space> <XXXX> last 4 digits of the Credit Card to 5676757 from your registered mobile number.
In case you lose your credit card, please inform IndusInd Bank immediately. You can report the loss of your credit card via Phone Banking. You can also block your credit card via SMS or block and replace your credit card on the IndusMobile app as well.
The EMV Chip and PIN Credit Card by IndusInd Bank provides enhanced security to the users during domestic and international transactions. It also provides additional safety against skimming or counterfeit fraud.
You can use your IndusInd Bank credit card to fulfil all your needs including:
- Buying home appliances and electronics
- Buying groceries
- Shopping for clothes and accessories
- Booking movie tickets
- Debt consolidation
- Paying utility bills
- Booking hotel rooms and flight tickets
- Paying food bills etc.
You can request IndusInd Bank to increase your credit card limit. The bank will review your credit card history to determine whether you qualify for an increase in your credit card limit. You must make on-time payments, keep a low credit utilisation ratio, show proof of an increase in income, and maintain a high credit score to increase the likelihood that your application will be approved.
The number of credit cards you should have entirely depends on your financial status. You need to make sure you have enough money each month to pay off the entire sum on each credit card. Having two or three credit cards with exclusive features can give you access to a higher credit limit and more perks and benefits in the form of rewards and cashback.
People who have several credit cards and make all their payments on time will be able to build a very good credit score. It will increase their creditworthiness and give them access to more credit opportunities.
A credit card score between 580 and 669 is considered fair, 670 and 739 as good, 740 and 799 as very good, and 800 and above as excellent. A higher credit score demonstrates a history of responsible financial behaviour, giving potential creditors and lenders more confidence when evaluating a credit request.
In case of any queries or assistance, you can call us on our 24-hour customer care number - 18602677777 or write to us at premium.care@indusind.com
You can cancel your Credit Card by calling our helpline 18602677777 or writing to us at premium.care@indusind.com. Please ensure there is no outstanding balance to be paid before you contact the Bank for card cancellation.
You can call us on our 24-hour customer care number - 18602677777 or write to us at premium.care@indusind.com
Reward points are a form of incentive offered by credit card issuers, earned by cardholders through eligible transactions. Accumulated over time, reward points reflect the cardholder's spending activity. These points can be redeemed for various benefits, such as airline miles, brand vouchers and gift cards, merchandise or even direct cash credit to card account depending on the credit card's rewards program.
IndusInd Bank credit card holders can call the Phone Banking service to place a reward points redemption request. They can also redeem their reward points online on the official website of Indus Moments by visiting www.indusmoments.com. IndusInd card holders also get to enjoy evergreen reward points where they can redeem the points anytime as per their convenience without worrying about the expiry of accumulated reward points.
The credit card balance refers to the total amount of money owed by a cardholder to the credit card issuer. It encompasses all the transactions, purchases, fees, and interest charges incurred during a specific billing cycle. The balance is a dynamic figure that fluctuates based on the cardholder's spending and payment activities. It is crucial for cardholders to manage their credit card balance effectively, either by paying the outstanding in full each month to avoid interest charges or by making at least the minimum payment to avoid late payment fees and maintain a positive credit standing. Understanding and keeping track of the credit card balance is essential for maintaining financial responsibility and preventing the accumulation of excessive debt.
A credit card statement is a detailed record of a cardholder's financial activity within a specific billing cycle. Issued by the credit card company on a monthly basis, this statement provides a comprehensive overview of transactions made using the credit card during that period. It includes details such as the date of each transaction, the merchant involved, the amount spent, and any applicable fees or interest charges. Additionally, the statement outlines the total outstanding balance, minimum payment due, and the payment due date. Cardholders can use the credit card statement to track their spending, review charges for accuracy, and understand the overall financial status of their credit card account. It serves as a crucial tool for financial management and responsible credit card use.
Unlock a world of convenience and savings with IndusInd Bank's lifetime free credit cards. Enjoy the ease of cashless transactions, enhanced security features, and the flexibility that our feature-rich cards offer. Here is the IndusInd Bank lifetime free credit card list, with each card tailored to suit your lifestyle and spending habits:
- Legend credit card
- Platinum RuPay credit Card
- Platinum Visa credit card
- Platinum Aura Edge credit card
Our competitive interest rates and attractive offers ensure you get the most value for your daily spending. From reward points that never expire to fuel surcharge waivers and exclusive deals across dining, travel, and shopping – experience financial freedom like never before. Apply online today and step into a lifetime of rewards and savings with IndusInd Bank.
Nexxt Card
It is the new generation Credit Card from IndusInd Bank which allows the users to make faster payments at merchant locations with just a Tap where contactless payment is accepted. It can also be used for standard shopping, online transactions and at ATMs.
Anywhere that the Contactless payment PoS Machine is available, the card can be used to tap and pay. If a contactless PoS machine is not available, the Contactless card can still be used for swipe or dip transactions. If the PoS machine has a contactless symbol displayed on it, then it is enabled for contactless payments
Will I receive a notification each time a Transaction is done on my IndusInd Bank Nexxt Credit Card?
Yes, Like a Standard Credit Card the customer will receive an SMS and an e-mail notification each time a transaction takes place.
The Nexxt Credit Card gives greater flexibility to the Customer to pay using any of the following options at the point of sale:
- Pay in full
- Pay with reward points
- Pay with EMI (pay in equal instalments of 6,12,18 and 24 months)
The card plastic has buttons for payment options. When the button is pressed, the LED associated with the pressed button illuminates to indicate the payment selection.
Please note, the option of pay using reward points or EMI is not enabled for online transactions.
Please note, selection of payment option needs to be made before inserting your card in the POS machine slot. We will be unable to change the payment option once the transaction is authorised.
You can check the accrued Reward Points on your IndusInd Bank Nexxt Credit Card through any of the following options:
- IndusInd Bank Mobile banking app, IndusMobile
- Log on to the Net banking portal, IndusNet
- SMS RBALE (space) XXXX to 5676757 where XXXX denotes the last 4 digits of your active Credit Card number.
- Call IndusInd Bank Phone Banking helpline number 18602677777
The first EMI shall be billed on the date on which Purchase Transaction is converted into EMI (conversion date). All billing of EMIs in the subsequent months shall be on the same date as the conversion date for that month.
When you press a button, light will emit from the corresponding light indicator to confirm your selection.
The Pay by Rewards or Pay by EMI request will be processed within 2 working days after the transaction is settled. Once the request is processed or declined, you will receive an SMS on your registered mobile number.
Yes, Whenever you press a button, the corresponding indicator will initially emit light constantly, and then blink periodically, for a total of up to 6 minutes. During this 6 minute period, you may swipe/insert/tap your card or hand your card to a cashier.
Please note, you can opt for 'Pay by Rewards' for a transaction only by pressing the rewards button before incurring a transaction at the store. However, you can redeem your accumulated rewards points to adjust the outstanding on your Credit Card account as per the terms of cash credit reward redemption.
You can opt for EMI conversion through the helpline number or IndusMobile/IndusNet to convert a transaction into EMI,if you have not selected 'Pay by EMI' option. Please note, your request will be processed subject to eligibility & approval. Final approval for the EMI shall be at the sole discretion of IndusInd Bank.
No. The Pay by Rewards or EMI is not applicable on cash withdrawal transactions.
No, there is no restrictions on the number of 'Pay by EMI' transactions.
Yes, The Pay by EMI option using the EMI button is available for transactions above INR 2,000.
Intermiles Odyssey Amex Credit Card
JetPrivilege is now InterMiles. At InterMiles, we believe that every journey deserves to be rewarding – whether it’s the purpose it fulfils, the experiences it brings or the memories it leaves you with. That’s why, we went ahead and created India’s most holistic travel and lifestyle brand, that rewards you at every step.
Yes, JetPrivilege had a Tiered Program, the Tiered Program had the following Tiers- Blue Plus, Silver, Gold and Platinum. The members achieved/retained their Tiers basis the Tier Points and Tier Miles accumulated over a period of 12,18 and 24 months.
The InterMiles program is now simpler with only InterMiles as a measure of attaining/retaining a Tier. The InterMiles program has 4 Tiers Red, Silver, Gold and Platinum.
All JetPrivilege members are by default InterMiles member. In-case you are not a member, please log on to intermiles.com
Your JetPrivilege Membership number is now InterMiles number. You can quote this number and earn InterMiles for all eligible spends, activities on intermiles.com and on InterMiles Partners. You will continue earning your rewards in the form of InterMiles using the same card and on the same membership number.
YES! Your credit cards are still active. You will now earn InterMiles as per your card’s existing earning proposition for every eligible activity.
The Jet Airways benefits have been replaced with InterMiles and Etihad benefits, which spread across Flights and Hotels. You can check these benefits for your respective cards
Yes! You can continue to use your credit card as you were earlier. You can make the most of your credit card by using it on intermiles.com, where you can earn get accelerated InterMiles on *expand categories and partners*
We are working on replacing your existing JetPrivilege/Jet Airways co-brand Credit Card and you will soon be receiving your new card. You will soon receive an SMS(from the Bank) with more details. *Your existing Credit Card is active and good enough to carry out transactions. In due course, Bank will inform you on how and when you will receive your new Cards*
No, if you have already paid fees this year, you need not pay fees. What’s more, as a feepaying customer you will enjoy the new InterMiles and Etihad benefits.
No, your accrued JPMiles are safe and are now InterMiles. The validity of InterMiles is the same as JPMiles.
You can transact using your credit card wherever it is accepted and activate it. In-case the transaction fails, please contact the bank to activate the card.
Oops! If you have discontinued the card, you will need to re-apply for a new card. Please check the Cards section on intermiles.com, we will soon start issuing InterMiles Credit Cards. You can then apply for a new InterMiles Credit Card
Please contact IndusInd Bank for further details
Yes! By spending on your respective co-brand you co-brand you can achieve a Tier. What’s More! The bonus InterMiles you earn also contribute to your Tier achievement and retainment.
InterMiles= Base InterMiles (Basis accrual ratio) + Bonus InterMiles (Joining/Renewal + Other Bonuses)
You can utilize all your benefits on intermiles.com across any airline or Hotel available on intermiles.com.
Our banking partners are working towards issuing the new InterMiles credit cards. Please check the Cards section on intermiles.com, we will soon start issuing InterMiles credit cards or call the bank for more details.
Basis your card variant, we credited JPMiles (now InterMiles) to your account. Please check your InterMiles account statement for the same. For any discrepancy regarding the same, please write to premium.care@indusind.com
If you have paid your fees post 14th November 2019, your benefit will be in the InterMiles Wallet. If these are not visible there, please call +91 842289 3333 or write to Intermiles on memberservices@intermiles.com memberservices@intermiles.com.
If you have paid fees prior to 14th November 2019, we have credited JPMiles (now InterMiles) to your account. Please check your InterMiles account statement for the same. For any discrepancy regarding the same, please write to premium.care@indusind.com
Your credit cards now come packed with benefits like
Joining/Renewal Benefits:
- Discounts on Domestic Flights booked via intermiles.com
- Discount on Hotel Stays for bookings made on intermiles.com*
Ongoing Benefits:
- Discount on Etihad Airways Economy class bookings made on intermiles.com*
- Discount on Etihad Airways Business class bookings made on intermiles.com*
- 2.5 X Accelerated earnings for Etihad Flight bookings made on intermiles.com*
- 2X Accelerated earnings for all Flight bookings made on intermiles.com
- 2X Accelerated earnings for all Hotels bookings made on intermiles.com
Limited Time Benefits:
- Redemption Miles back for International flight bookings made on intermiles.com*
Don’t forget, You still get your joining/renewal InterMiles on paying your annual fees!
Intermiles Voyage Visa Credit Card
JetPrivilege is now InterMiles. At InterMiles, we believe that every journey deserves to be rewarding – whether it’s the purpose it fulfils, the experiences it brings or the memories it leaves you with. That’s why, we went ahead and created India’s most holistic travel and lifestyle brand, that rewards you at every step.
Yes, JetPrivilege had a Tiered Program, the Tiered Program had the following Tiers- Blue Plus, Silver, Gold and Platinum. The members achieved/retained their Tiers basis the Tier Points and Tier Miles accumulated over a period of 12,18 and 24 months.
The InterMiles program is now simpler with only InterMiles as a measure of attaining/retaining a Tier. The InterMiles program has 4 Tiers Red, Silver, Gold and Platinum.
All JetPrivilege members are by default InterMiles member. In-case you are not a member, please log on to intermiles.com
Your JetPrivilege Membership number is now InterMiles number. You can quote this number and earn InterMiles for all eligible spends, activities on intermiles.com and on InterMiles Partners. You will continue earning your rewards in the form of InterMiles using the same card and on the same membership number.
YES! Your credit cards are still active. You will now earn InterMiles as per your card’s existing earning proposition for every eligible activity.
The Jet Airways benefits have been replaced with InterMiles and Etihad benefits, which spread across Flights and Hotels. You can check these benefits for your respective cards
Yes! You can continue to use your credit card as you were earlier. You can make the most of your credit card by using it on intermiles.com, where you can earn get accelerated InterMiles on *expand categories and partners*
We are working on replacing your existing JetPrivilege/Jet Airways co-brand Credit Card and you will soon be receiving your new card. You will soon receive an SMS(from the Bank) with more details. *Your existing Credit Card is active and good enough to carry out transactions. In due course, Bank will inform you on how and when you will receive your new Cards*
No, if you have already paid fees this year, you need not pay fees. What’s more, as a feepaying customer you will enjoy the new InterMiles and Etihad benefits.
No, your accrued JPMiles are safe and are now InterMiles. The validity of InterMiles is the same as JPMiles.
You can transact using your credit card wherever it is accepted and activate it. In-case the transaction fails, please contact the bank to activate the card.
Oops! If you have discontinued the card, you will need to re-apply for a new card. Please check the Cards section on intermiles.com, we will soon start issuing InterMiles Credit Cards. You can then apply for a new InterMiles Credit Card
Please contact IndusInd Bank for further details
Yes! By spending on your respective co-brand you co-brand you can achieve a Tier. What’s More! The bonus InterMiles you earn also contribute to your Tier achievement and retainment.
InterMiles= Base InterMiles (Basis accrual ratio) + Bonus InterMiles (Joining/Renewal + Other Bonuses)
You can utilize all your benefits on intermiles.com across any airline or Hotel available on intermiles.com.
Our banking partners are working towards issuing the new InterMiles credit cards. Please check the Cards section on intermiles.com, we will soon start issuing InterMiles credit cards or call the bank for more details.
Basis your card variant, we credited JPMiles (now InterMiles) to your account. Please check your InterMiles account statement for the same. For any discrepancy regarding the same, please write to premium.care@indusind.com
If you have paid your fees post 14th November 2019, your benefit will be in the InterMiles Wallet. If these are not visible there, please call +91 842289 3333 on or write to Intermiles on memberservices@intermiles.com.
If you have paid fees prior to 14th November 2019, we have credited JPMiles (now InterMiles) to your account. Please check your InterMiles account statement for the same. For any discrepancy regarding the same, please write to premium.care@indusind.com
Your credit cards now come packed with benefits like
Joining/Renewal Benefits:
- Discounts on Domestic Flights booked via intermiles.com
- Discount on Hotel Stays for bookings made on intermiles.com*
Ongoing Benefits:
- Discount on Etihad Airways Economy class bookings made on intermiles.com*
- Discount on Etihad Airways Business class bookings made on intermiles.com*
- 2.5 X Accelerated earnings for Etihad Flight bookings made on intermiles.com*
- 2X Accelerated earnings for all Flight bookings made on intermiles.com
- 2X Accelerated earnings for all Hotels bookings made on intermiles.com
Limited Time Benefits:
- Redemption Miles back for International flight bookings made on intermiles.com*
Don’t forget, You still get your joining/renewal InterMiles on paying your annual fees!
Intermiles Voyage Amex Credit Card
JetPrivilege is now InterMiles. At InterMiles, we believe that every journey deserves to be rewarding – whether it’s the purpose it fulfils, the experiences it brings or the memories it leaves you with. That’s why, we went ahead and created India’s most holistic travel and lifestyle brand, that rewards you at every step.
Yes, JetPrivilege had a Tiered Program, the Tiered Program had the following Tiers- Blue Plus, Silver, Gold and Platinum. The members achieved/retained their Tiers basis the Tier Points and Tier Miles accumulated over a period of 12,18 and 24 months.
The InterMiles program is now simpler with only InterMiles as a measure of attaining/retaining a Tier. The InterMiles program has 4 Tiers Red, Silver, Gold and Platinum.
All JetPrivilege members are by default InterMiles member. In-case you are not a member, please log on to intermiles.com
Your JetPrivilege Membership number is now InterMiles number. You can quote this number and earn InterMiles for all eligible spends, activities on intermiles.com and on InterMiles Partners. You will continue earning your rewards in the form of InterMiles using the same card and on the same membership number.
YES! Your credit cards are still active. You will now earn InterMiles as per your card’s existing earning proposition for every eligible activity.
The Jet Airways benefits have been replaced with InterMiles and Etihad benefits, which spread across Flights and Hotels. You can check these benefits for your respective cards
Yes! You can continue to use your credit card as you were earlier. You can make the most of your credit card by using it on intermiles.com, where you can earn get accelerated InterMiles on *expand categories and partners*
We are working on replacing your existing JetPrivilege/Jet Airways co-brand Credit Card and you will soon be receiving your new card. You will soon receive an SMS(from the Bank) with more details. *Your existing Credit Card is active and good enough to carry out transactions. In due course, Bank will inform you on how and when you will receive your new Cards*
No, if you have already paid fees this year, you need not pay fees. What’s more, as a feepaying customer you will enjoy the new InterMiles and Etihad benefits.
No, your accrued JPMiles are safe and are now InterMiles. The validity of InterMiles is the same as JPMiles.
You can transact using your credit card wherever it is accepted and activate it. In-case the transaction fails, please contact the bank to activate the card.
Oops! If you have discontinued the card, you will need to re-apply for a new card. Please check the Cards section on intermiles.com, we will soon start issuing InterMiles Credit Cards. You can then apply for a new InterMiles Credit Card
Please contact IndusInd Bank for further details
Yes! By spending on your respective co-brand you co-brand you can achieve a Tier. What’s More! The bonus InterMiles you earn also contribute to your Tier achievement and retainment.
InterMiles= Base InterMiles (Basis accrual ratio) + Bonus InterMiles (Joining/Renewal + Other Bonuses)
You can utilize all your benefits on intermiles.com across any airline or Hotel available on intermiles.com.
Our banking partners are working towards issuing the new InterMiles credit cards. Please check the Cards section on intermiles.com, we will soon start issuing InterMiles credit cards or call the bank for more details.
Basis your card variant, we credited JPMiles (now InterMiles) to your account. Please check your InterMiles account statement for the same. For any discrepancy regarding the same, please write to premium.care@indusind.com
If you have paid your fees post 14th November 2019, your benefit will be in the InterMiles Wallet. If these are not visible there, please call +91 842289 3333 on or write to Intermiles on memberservices@intermiles.com.
If you have paid fees prior to 14th November 2019, we have credited JPMiles (now InterMiles) to your account. Please check your InterMiles account statement for the same. For any discrepancy regarding the same, please write to premium.care@indusind.com
Your credit cards now come packed with benefits like
Joining/Renewal Benefits:
- Discounts on Domestic Flights booked via intermiles.com
- Discount on Hotel Stays for bookings made on intermiles.com*
Ongoing Benefits:
- Discount on Etihad Airways Economy class bookings made on intermiles.com*
- Discount on Etihad Airways Business class bookings made on intermiles.com*
- 2.5 X Accelerated earnings for Etihad Flight bookings made on intermiles.com*
- 2X Accelerated earnings for all Flight bookings made on intermiles.com
- 2X Accelerated earnings for all Hotels bookings made on intermiles.com
Limited Time Benefits:
- Redemption Miles back for International flight bookings made on intermiles.com*
Don’t forget, You still get your joining/renewal InterMiles on paying your annual fees!
Intermiles Odyssey Visa Credit Card
JetPrivilege is now InterMiles. At InterMiles, we believe that every journey deserves to be rewarding – whether it’s the purpose it fulfils, the experiences it brings or the memories it leaves you with. That’s why, we went ahead and created India’s most holistic travel and lifestyle brand, that rewards you at every step.
Yes, JetPrivilege had a Tiered Program, the Tiered Program had the following Tiers- Blue Plus, Silver, Gold and Platinum. The members achieved/retained their Tiers basis the Tier Points and Tier Miles accumulated over a period of 12,18 and 24 months.
The InterMiles program is now simpler with only InterMiles as a measure of attaining/retaining a Tier. The InterMiles program has 4 Tiers Red, Silver, Gold and Platinum.
All JetPrivilege members are by default InterMiles member. In-case you are not a member, please log on to intermiles.com
Your JetPrivilege Membership number is now InterMiles number. You can quote this number and earn InterMiles for all eligible spends, activities on intermiles.com and on InterMiles Partners. You will continue earning your rewards in the form of InterMiles using the same card and on the same membership number.
YES! Your credit cards are still active. You will now earn InterMiles as per your card’s existing earning proposition for every eligible activity.
The Jet Airways benefits have been replaced with InterMiles and Etihad benefits, which spread across Flights and Hotels. You can check these benefits for your respective cards
Yes! You can continue to use your credit card as you were earlier. You can make the most of your credit card by using it on intermiles.com, where you can earn get accelerated InterMiles on *expand categories and partners*
We are working on replacing your existing JetPrivilege/Jet Airways co-brand Credit Card and you will soon be receiving your new card. You will soon receive an SMS(from the Bank) with more details. *Your existing Credit Card is active and good enough to carry out transactions. In due course, Bank will inform you on how and when you will receive your new Cards*
No, if you have already paid fees this year, you need not pay fees. What’s more, as a feepaying customer you will enjoy the new InterMiles and Etihad benefits.
No, your accrued JPMiles are safe and are now InterMiles. The validity of InterMiles is the same as JPMiles.
You can transact using your credit card wherever it is accepted and activate it. In-case the transaction fails, please contact the bank to activate the card.
Oops! If you have discontinued the card, you will need to re-apply for a new card. Please check the Cards section on intermiles.com, we will soon start issuing InterMiles Credit Cards. You can then apply for a new InterMiles Credit Card
Please contact IndusInd Bank for further details
Yes! By spending on your respective co-brand you co-brand you can achieve a Tier. What’s More! The bonus InterMiles you earn also contribute to your Tier achievement and retainment.
InterMiles= Base InterMiles (Basis accrual ratio) + Bonus InterMiles (Joining/Renewal + Other Bonuses)
You can utilize all your benefits on intermiles.com across any airline or Hotel available on intermiles.com.
Our banking partners are working towards issuing the new InterMiles credit cards. Please check the Cards section on intermiles.com, we will soon start issuing InterMiles credit cards or call the bank for more details.
Basis your card variant, we credited JPMiles (now InterMiles) to your account. Please check your InterMiles account statement for the same. For any discrepancy regarding the same, please write to premium.care@indusind.com
If you have paid your fees post 14th November 2019, your benefit will be in the InterMiles Wallet. If these are not visible there, please call +91 842289 3333 or write to Intermiles on memberservices@intermiles.com memberservices@intermiles.com.
If you have paid fees prior to 14th November 2019, we have credited JPMiles (now InterMiles) to your account. Please check your InterMiles account statement for the same. For any discrepancy regarding the same, please write to premium.care@indusind.com
Your credit cards now come packed with benefits like
Joining/Renewal Benefits:
- Discounts on Domestic Flights booked via intermiles.com
- Discount on Hotel Stays for bookings made on intermiles.com*
Ongoing Benefits:
- Discount on Etihad Airways Economy class bookings made on intermiles.com*
- Discount on Etihad Airways Business class bookings made on intermiles.com*
- 2.5 X Accelerated earnings for Etihad Flight bookings made on intermiles.com*
- 2X Accelerated earnings for all Flight bookings made on intermiles.com
- 2X Accelerated earnings for all Hotels bookings made on intermiles.com
Limited Time Benefits:
- Redemption Miles back for International flight bookings made on intermiles.com*
Don’t forget, You still get your joining/renewal InterMiles on paying your annual fees!
Samsung Pay
Samsung Wallet is a secure and easy-to-use mobile payment service which can be used to make purchases nearly everywhere. It uses Magnetic Secure Transmission (MST) and Near Field Communication (NFC) technology to allow mobile payments.
Magnetic Secure Transmission or MST is a method of transmitting data using magnetic waves. MST replaces a card swipe by wirelessly transmitting magnetic waves from the Samsung device to a standard card reader available with the merchant.
Near Field Communication or NFC is a method of transmitting data using radio waves. Samsung Wallet uses NFC technology to wirelessly transmit payment data to merchant payment terminals with NFC readers that have been activated for use.
Galaxy S20 Ultra, Galaxy S20+, Galaxy S20, Galaxy Note 10+, Galaxy Note 10, Galaxy Note 10 Lite, Galaxy S10+, Galaxy S10, Galaxy S10E, Galaxy S10 Lite, Galaxy Note 9, Galaxy S9, Galaxy S9+, Galaxy Note 8, Galaxy S8+, Galaxy S8, Galaxy S7edge, Galaxy S7, Galaxy S6 edge+, Note5, Galaxy A70, Galaxy A70+, Galaxy A80, Galaxy A30s,Galaxy A50s, Galaxy A51,Galaxy A8+, Galaxy A7(2017 & 2016), Galaxy A5(2017 & 2016), Galaxy A9pro and Galaxy J7 Pro. Other newer models will follow. (Galaxy A30s, Galaxy A50 & Galaxy A51 are NFC only devices)
Samsung Wallet uses leading edge tokenization and authentication methods to secure your information. Samsung Wallet also uses biometrics as a security measure, enabling users to authenticate Samsung Wallet via fingerprint or Secured PIN. In addition to the security measures implemented by Samsung Wallet, Samsung’s KNOX service constantly monitors suspicious activity within the device to protect from any malicious attacks.
Tokenization is a method of replacing your sensitive payment card information (Card Number, Expiration Date, Security code, etc.) with a device-specific ‘Token’ which acts as a surrogate value. In mobile payments, Tokens are used to protect your payment information and to reduce the security risks inherent to plastic cards.
All IndusInd Bank Debit cards are compatible with Samsung Wallet.
Samsung Wallet is available to users with a compatible Samsung device only.
Cards can be either automatically registered by scanning your card with Samsung Wallet or manually inputting the card information. Then Samsung Wallet application will authenticate your identity via an OTP, post which your Card will be activated. You can also register your Debit card on Samsung Wallet by calling our call centre.
The card displayed in Samsung Wallet application may differ marginally from the physical card.
On an average, it takes about a couple of minutes for the card to get activated. In case the same is taking more than 10 minutes post meeting all verification requirements, please remove the card from Samsung Wallet and try to register again. Contact IndusInd Bank for assistance if you continue to encounter delays.
Samsung Wallet requires an active internet connection for card registration and activation.
However, an active internet connection is not required to make in-store card purchases. It is recommended the device should be connected to the internet for the best Samsung Wallet experience.
When performing a factory data reset, all payment information in Samsung Wallet will be deleted. You will need to set up and add your payment card information into Samsung Wallet again after your device has been reset.
The last 10 transactions done using Samsung Wallet are viewable in the Samsung Wallet app for one month from the time of transaction.
No, Samsung Wallet does not work at ATMs.
Deleting a payment card from Samsung Wallet will only remove the payment information, including the token (digital card number), from the device. Your physical card will remain active.
Credit Card Contactless Faqs
A Contactless Card is a faster way to pay with your Credit Card for purchases under ₹5000/- at participating stores. Instead of dipping (or swiping) your card on the merchant terminal, simply wave or tap your card on the contactless enabled terminal and pay without entering a PIN (for amount under ₹5000/-).
The Contactless payment feature allows customers to make safe and secure payments with a simple tap of the card on the PoS (Point of Sale) machines at compatible merchant outlets. These NFC-enabled terminals transmit payment details and authenticate transactions without the need for swiping the card.
Look for this symbol on your IndusInd Bank Card and also on the machine at the shop. This symbol, if present, means that your Card is a Contactless Card and the machine is enabled for contactless transactions.
Your IndusInd Bank Contactless Credit Card can be used at any merchant outlet that has a contactless payment PoS machine. If the PoS machine has a contactless symbol displayed on it, it can process contactless payments. In case such a machine is not available, the Contactless Card can still be used for swipe or dip transactions.
Look out for this symbol on the machine at the shop/store/outlet
Tap the card on the machine or keep it close to the terminal.
You will hear a beep/see a green light and get the receipt for the contactless payment you have done.
You should hold your Contactless Card within 4 cm of the card reader.
You can pay using the Contactless feature for any amount within the overall daily transaction limit of ₹5000. For transaction value over ₹5000, you will have to use your card by either swiping or dipping it like any other Credit Card purchase. Please note, the daily transaction limit for Contactless purchase is decided by the RBI and may change from time-to-time.
Yes, there is a daily limit of 5 contactless transactions on this card, which means that only 5 transactions below ₹5000 will be permitted without two factor authentication, post which any transaction below ₹5000 on that same day will require the Card to be dipped and PIN to be entered.
Contactless payment is designed to make your transactions swift and convenient. The retailer will ask if you require a charge slip. Please advise the retailer accordingly.
A successful transaction is confirmed by the illumination of four green indicator lights and a display message on the PoS machine.
No, you cannot unknowingly make any purchase on your card. Your card has to be tapped within 4 cm of the card reader for more than half a second and the retailer has to first enter the amount for you to approve. Terminals can only process one payment transaction at a time, thereby reducing transaction errors.
Contactless cards benefits you through its enhanced convenience to pay and higher level of security. The convenience is by way of speed of payment through not having to enter your PIN for transactions below ₹5000. It is also more secure as you are in control of the card at all times as the card does not leave your hand when you make the payment at the shop.
Yes, as with a standard Credit Card, you will receive an SMS and an email notification after each transaction.
Yes. If the shop doesn’t have a contactless machine installed, you can continue to dip (or swipe) your Contactless Credit Card just as you always have. You can also choose to use this option even if there is a contactless terminal available.
Generally, such a situation does not arise. However, in any such rare cases, you can contact IndusInd Bank customer care to inquire about the status of your transaction.
In case your Credit Card is lost or stolen, please contact IndusInd Bank customer care immediately to block your card. You can also block your lost/stolen Credit Card on our net banking portal (IndusNet) or on the IndusMobile App instantly.
You can enable or disable the Contactless feature on your Credit Card as per your convenience online by clicking on Set Credit Card Transaction preferences available on our website under Quicklinks > Credit Card related or by logging on IndusMobile App or through IndusNet. You can also dip (swipe) your Contactless Credit Card just as you always have and enter the PIN, if you don't want to make a purchase using the Contactless feature.
Google Pay
Google Pay India is a mobile payment service that can be used to make payments using Cards and UPI.
All devices with Android 5.0 (Lollipop) or higher are compatible with Google Pay India.
Yes, you can download the Google Pay India app from the Google Play Store.
To create your Google Pay account,
- Download Google Pay on phones running Android 5.0 (Lollipop) or higher.
- Enter your phone number.
- Sign in with your Google account.
- Follow the instructions to secure your Google Pay app and add a Card/Bank account.
You can use any mobile number of your choice for Registration on Google Pay as long as you have access to the mobile number. The OTP to complete the registration will be delivered to the mobile number entered by you. However please do note that in order to add a payment method on Google Pay below are required:
- In order to add a card on Google Pay please ensure you have access to the mobile number registered with your Bank as you would receive an OTP on that number
- In order to add a Bank account on Google Pay via UPI please ensure that you have registered on Google Pay using the phone number linked to your account and that the SIM for the same is on the device you are using.
On your mobile device, open Google Pay
- Tap Profile > Payment methods > Add Card.
- Enter the Card number, Expiry date, CVV, and the Cardholder’s name and billing address.
- Tap Save
- Accept Issuer Terms & Conditions
- Choose verification method
- You will be asked for additional authentication via OTP
- OTP will be auto read or you can enter it manually
- After your Card is verified, you’re ready to use it for transactions.
Important:
- You should receive this OTP via text message to the phone number/e-mail associated to your Card. If you don’t receive a one-time password, verify that your contact information is up to date with the Bank.
- Adding your Card to Google Pay will register your card for Tokenized card payments for all the below use cases :
- Tap & Pay at NFC enabled terminals
- QR code based payments at merchants
- Mobile Recharges on Google Pay and Online payments on 3rd party merchants where Google Pay is supported
In case you don’t want to register your Card for any of the use cases listed above you can always call the Bank to opt-out/de-register a particular use case for you before adding the card.
You can also call your Issuer to de-register your Card on a per use case basis post Card addition.
- On your mobile device, open Google Pay App
- Tap Settings > Payment methods.
- Tap the Card that you want to remove and select Remove card.
Please note that removing your Card from Google Pay will automatically disable all forms of tokenized card payments for you.
You can also call the Bank to de-register your Card on a per use case basis post Card addition
You can currently register your IndusInd Bank Visa Credit and Debit Cards on Google Pay.
You can use a Visa Credit or Debit Card added in Google Pay for the following types of transactions:
- Tap & Pay at NFC enabled payment terminals
- Bharat QR code based Payments at online & offline merchants
- Mobile Recharge payments on Google Pay
- Online Payments on Myntra Android app
This depends on the Card variant that you have registered on the Google Pay App i.e. if your Card is an international variant then you can use it at foreign countries and if it is a domestic variant then you can use it only in India. Please make sure that you have enabled your Card for international transactions with the Bank in order to use it for international payments.
Currently Google Pay is not supported at ATMs.
For the activation of your Card while registering it, the OTP can be generated through an SMS and will be sent to your registered mobile. You can also call our customer care to activate your Card.
This OTP is valid for 30 minutes and in case a new OTP is needed the registration can be repeated and same process has to be carried out again..
Your mobile number and/or e-mail ID may not be updated in the Bank’s records. Please update your mobile number and e-mail ID with the Bank immediately.
The average amount of time between the request for activation and approval will be within seconds, but may take up to 10 minutes depending on completion of additional verification requirements. If this amount of time has been exceeded, remove the digital card from Google Pay and register it again.
Google Pay uses a process called tokenization to save your Card. Tokenization is a method of replacing your sensitive payment Card information (Card Number, Expiry Date, CVV, etc.) with a device-specific ‘Token’ which acts as a surrogate value that is then used for processing payments instead of the sensitive Card information.
Tokens are used to protect your payment information and to reduce the security risks inherent to plastic Cards.
Google Pay does not store any of your sensitive Card information like Full Card number, CVV, Expiry date either on the device or on the server.
- You can open your Android Device Manager by clickinghere and lock your device from the Secure Device option in the menu. This will deactivate all your card tokens.
- You can also choose to Wipe out the device in which case we will remove the tokens completely from the device instead of de-activating them.
- You also have an option to call the Bank to de-register your Card token(s) on Google Pay.
Yes if you change your phone then all your Cards would have to be added again since Card tokens are device specific and you would need to re-tokenize your Cards on your new device.
- You should delete all your Cards one at a time from Google Pay App
- You should also log out of Google Pay App and uninstall the App
No, Formatting or resetting your device will remove all payment/Card information from your device.
Yes, it can be used immediately after successful registration.
- Turn on your phone screen, and then unlock your phone. You do not need to open the Google Pay App.
- All you need to do is Tap your phone in the same way as you would tap your physical card at the terminal.
- Please make sure that NFC is turned on in phone settings.
- In case you have multiple Cards added to your account and wish to change your default Card settings you can do so through Google settings on your device (Not Google Pay settings)
- Pay at any store that has a tap & pay enabled terminal. You should look out for terminals with the below contactless symbol or ask at the store.
Tap & Pay uses a technology called Near Field Communication or NFC which is a method of wirelessly transmitting data using radio waves. Google Pay uses NFC to wirelessly transmit payment data to payment terminals with NFC readers that have been activated for use. In order to make a contactless NFC transaction, please make sure that NFC is turned on in phone settings.
Which Card will be used for contactless payments and how can I change my default Card for Tap & Pay?
- By default your first added Card will be used for contactless/Tap & Pay payments
- In order to change your Card: Switch On your mobile device, open Google Pay
- Tap Settings > Google.
- Tap Account services > Google Pay.
- Follow the on-screen instructions to change your default Tap & Pay Card.
The permissible limit for Tap & Pay transactions in India is ₹5000. You can use Google Pay to transact only up to ₹5000 at merchant terminals. Your Card PIN will not be required for these transactions.
Yes, you can absolutely enjoy the contactless experience in Google Pay, even if your physical Card is not contactless. All you need to do is have an NFC enabled phone and turn on NFC in settings and add your Card to Google Pay.
SMS OTP is used as AFA for online and Bharat QR transactions. SMS OTP will be sent to your registered mobile. This is mandatorily required for all online and Bharat QR transactions irrespective of the order amount.
Cancelling or disputing the payment made with Google Pay is exactly the same as your physical Card. Please follow below steps:
Bharat QR
Please contact the Bank if:
- If transaction has failed but the Card has been charged.
- If transaction has succeeded but fulfillment of order on merchant side has failed and merchant claims that he has not received the funds.
You can use the approval code on the transaction detail screen to provide as reference to the Bank. To get in touch with the Issuer Bank kindly tap on the transaction in Google Pay and you will be able to see the contact details of your Issuing Bank.
Please contact the merchant if:
- Transaction was successful but order did not get fulfilled.
- Other potential merchant side issues like: Cancellation of order, Returns of goods and service, Late delivery, etc.
Online merchant Payments (Currently supported on Myntra) and Tap & Pay
Please contact the Bank if:
- If transaction has failed but the Card has been charged.
- If transaction has succeeded but fulfillment of order on merchant side has failed and merchant claims that he has not received the funds.
To get in touch with the Issuer Bank kindly tap on the transaction in Google Pay and you will be able to see the contact details of your Issuing Bank.
Please contact the merchant if:
- Transaction was successful but order did not get fulfilled.
- Other potential merchant side issues like: Cancellation of order, Returns of goods and service, Late delivery, etc.
You can also contact the merchant by using the contact option in the overflow menu on the conversation screen.
Mobile Recharge on Google Pay
Please raise a dispute on Google Pay App if the transaction was successful but order did not get fulfilled. You may follow below steps to raise a dispute:
Your issue will be resolved within 7 business days from initiating a dispute.
Please contact your Bank if:
- If Transaction has failed but the Card has been charged.
- If Transaction has succeeded but fulfillment of order on merchant side has failed and merchant claims that he has not received the funds.
Google Pay requires an active internet connection for Card registration and activation. Google Pay also requires an active internet connection for performing in-app (ecommerce) and scan & pay transactions. However, an active internet connection is not required to do Tap & Pay for in-store card purchases if you already have an added Card.
Google Pay does require internet connection periodically to update its security features. In such instances, if there is no internet connection, the app might not work intermittently until an active connection is established.
In rare cases, the merchant may ask you for the last four digits of the Card number. You will need to provide the last four digits of the digital Card number/Token instead of the last four digits of the physical Card number. Please note that you should never disclose your PIN number, OTP or your CVV number mentioned at the back of the Card to the merchant.
For enhanced security, your actual Card number will never be stored on the phone or exposed to the merchant. Your Card number will instead be replaced by a unique digital number (i.e. Digital Card Number, visible on the left side of the Card in the Google Pay screen, and in the main app when viewing your registered Cards) each time you add a new Card to your device. This Digital Card number will then be transmitted to merchants in place of your actual Card number for purchases.
Yes, you can register the same Card in multiple devices. Please note that even if you register your Card on more than one device, any SMS communications about your Google Pay account will still be sent only to the registered mobile phone number with the Bank.
If the Card Number gets changed, you will be required to register again with the new Card details.
This means that your Card is not supported for the payment you are trying to make. Please note Cards are not supported for person to person payments meaning you can only pay merchants/businesses using Cards added on Google Pay. Paying to friends/family is not supported using Cards. You can always use UPI on Google Pay for the same.
You will not be able to add your Card to Google Pay if your Card is suspended or expired. If your added Card on Google Pay gets suspended or expired then they do not show up in the payment methods screen on Google Pay.
In case, your physical Card is blocked then even your tokenized Card on Google Pay will not work.
For online and Bharat QR transactions:
- You can view your transaction history in the All transactions section on Google Pay.
- You can also view the transactions in your conversation section with the individual merchants.
Your Tap & Pay transactions will not be visible in the Google Pay App and can be viewed on the Bank’s Mobile Banking App or Net banking portal.
You will be able to return merchandise that you purchased based on the store's return policy
No, there is no issue. The Card displayed in Google Pay may differ slightly with the physical Card. The key points to look for is the Bank’s logo and Visa/Mastercard logo and the last four digits of the physical Card.
Please ensure that you are using a valid IndusInd Bank Visa/Mastercard Debit or Credit Card only. If it still fails then it may be any of the following reasons:
- Your Card may not be eligible to participate in Google Pay.
- Card information entered for registration is not correct, and/or
- Technical issues (In such cases you should try after some time.)
You can set and modify the transaction limits for your Card transactions by logging on to the Mobile Banking App or on the Net banking portal of the Bank.
You can update your contact details through the following channels:
- Through our Mobile Banking App -IndusMobile
- Through our Internet Banking Portal - IndusNet
- Through our Phone Banking service
- Through the Branch (for debit cards)
You can enable or disable your Card for Tap & Pay or contactless transactions by logging on to the Mobile Banking App or on the Net banking portal of the Bank or by calling our helpline number 1860 267 7777.
You can enable or disable your Card for online transactions by logging on to the Mobile Banking App or on the Net banking portal of the Bank or by calling our helpline number 1860 267 7777
Toll free number for Google Pay: 1-800-419-0157.
For more details visit: https://support.google.com/pay/india/answer/7562363?hl=en-GB
Tiger Card
The difference is that these Reward Points are valid across the year. There are no promotional periods or duration within which you have to avail the offer. This is a permanent feature on the IndusInd Bank Tiger Credit Card.
Reward Points accumulated on IndusInd Bank Tiger Credit Card will be valid for period of 24 months from the date of accrual.
There is no cap to redeem your Reward Points. However, in each billing cycle redemption of upto 20000 reward points can be done through cash credit. IndusInd Bank reserves the right to change the redemption cap for every billing cycle at its discretion. Visit www.indusind.com for updated details.
You can call the Concierge services on 1860 267 7777.
You can avail of the following services from the Concierge desk:
Pre-trip Assistance: With this service, you can get information about any destination in India or abroad - information like the weather, important landmarks, modes of transport, etc. You can plan your trip easily with this information.
Hotel Bookings: If you need to make a booking at any hotel across the world, you can call the concierge desk and the concierge desk shall take care of the bookings.
Flight Bookings: Your flight bookings whether in India or abroad can be handled by the concierge desk. The concierge will book the tickets and deliver them to you at your doorstep.
For the IndusInd Bank International Travel offers, call the concierge desk and the tickets will be charged on your card and delivered to you at your doorstep.
Car Rental & Limousine Service: If you want to rent a car while travelling in India or abroad, all you will need to do is call the concierge and the rental shall be arranged for you.
Sports and Entertainment Bookings: If you want tickets for the Sports events, you can call the concierge desk. They will try and arrange for the tickets and deliver them to your doorstep.
Event Bookings: You can call the concierge desk to arrange for tickets to any special talks or events across the world
Flower and Gift Delivery: With the concierge, you can arrange to send flowers or any special gift to anyone across the world. You can ask the concierge for the rarest of things and they will be arranged and delivered to any place that you wish.
You will not be charged for using the concierge service. You will only be charged for the actual cost of the services, e.g. cost of the ticket if you book tickets and any delivery charges that are applicable.
You can ask for the rarest of gifts for your loved ones through the concierge. The concierge will search for the gift that you have asked from across the world. However, they cannot guarantee that it would be available. The service is on a best effort basis and they would try their best to ensure that what you ask for is fulfilled.
Auto Assist provides you with the following services:
Roadside Repair Service: In the event that your vehicle breaks down on the road due to any mechanical/electrical fault, Auto Assist will help in arranging for the mechanic for repair of your vehicle at the vehicle’s breakdown location.
Emergency Fuel Supply: If your vehicle gets stranded on the road due to lack of fuel, the Auto Assist shall arrange to deliver the fuel (up to 5 litres) to the location where your vehicle is stranded.
Flat Tyre Services: In case of a flat tyre, the Auto Assist Service shall arrange for a mechanic to come and repair the flat tyre.
Keys Locked Inside: In case of car keys getting locked inside the car or keys getting misplaced, we can even arrange for a locksmith to come and either prepare a new car key or open your car for you at the time of need.
Battery Service: In case the battery is not functioning, the Auto Assist shall arrange for a service provider to come for battery repair at the vehicle’s breakdown location.
Emergency Towing Assistance: In case of a breakdown where the car needs to be towed, the Auto Assist service shall arrange for a towing service for taking your car to the appropriate repair shop.
Accident Management and Medical Assistance: In the unfortunate event of an accident or emergency, the Auto Assist will assist you by co-ordinating necessary activities including: emergency message transmission, arranging for emergency medical assistance, towing of vehicles.
You do not need to pay for arrangement of the mechanic, however all expenses including labour charges or any repair charges need to be paid to the mechanic.
The Auto Assist service is on a best efforts basis and the time would depend on the location of the vehicle. However, normally it would take about 30 to 45 minutes to reach you within city limits and about 1 to 1.5 hours to reach you outside city limits, in case of emergency.
To avail the Auto Assist service, you need to call the Concierge on 1860 267 7777.
The Auto Assist service is available in Delhi, Mumbai, Kolkata, Chennai, Bangalore and Pune.
No, booking cannot be done by directly contacting the Golf Course.
Debit Card
Debit Card
A debit card allows you to withdraw money or make payments directly from your bank account. For making payments, you need to swipe the card at point-of-sales machine or fill out the card details for e-commerce transactions. A debit card works as an Any Time Money card to withdraw cash from ATM machine. A debit card is linked to your bank account, which means you cannot use the money beyond what is there in your savings or Current account.
You don’t need to apply for a debit card as you automatically get one upon opening a savings or current bank account. The transaction limit of the card is linked to how much amount is deposited in your savings account. In case you don’t have a debit card or wish to upgrade the existing one, you need to fill out an application applying for the card.
The eligibility for debit card depends on the kind of savings account you hold in the bank. The features of debit card such as cashback offer, daily transaction limit, reward points, airport lounge access etc. depends on the kind of savings account and debit card you hold.
IndusInd Bank debit card comes with many benefits including:
- Cash withdrawal at any ATM within the limit prescribed by RBI
- Acceptability at a large number of Merchant establishments across India
- Acceptability for different online payments including utility bills, government entities, e-commerce websites etc.
- Safety and security features to protect your money
- Personal accident cover, cashbacks, fuel surcharge waiver, reward points etc.
If your IndusInd Bank debit card is stolen, you need to block your debit card through these ways.
Block debit card via SMS
SMS LOST DDMMYYYY to 9223512966 from your registered mobile number.
Block debit card via Phone banking
Call phone banking at 18602677777 to block your debit card
Block debit card via IndusMobile App
- Open the IndusMobile app
- Select ‘Block Debit Card’ under ‘Select your service request’ option
- Choose from the options - No replacement required, replacement required or upgrade card
- State the reason for your request
- Confirm your request
- Your card will be blocked instantly and your replacement/upgraded card will be dispatched to your communication address
If the PIN of your debit card is blocked, here are the steps to reset the PIN:
- Download the IndusMobile App
- Go to the bottom of the home screen and click on ‘Service Request’
- Select Reset PIN option from the dropdown and set your PIN
- Enter your card CVV, Card Expiry Date, and PAN number/ Date of Birth
- Enter the new PIN and confirm the same
- Click ‘Yes’ and proceed
- New PIN will be activated in 4 hours
If your debit card expires or you want to replace the existing card, here are the steps to follow:
- Download the IndusMobile app
- Open the app and visit ‘Select your service request’ option
- Click on ‘Block debit card’
- Three options will be displayed, choose - ‘Replacement required’
- Specify the reason for request
- Confirm the request
The bank will dispatch the debit card to your mentioned communication address.
As the the mandate issued by RBI, all new Debit Cards can only be used for Domestic ATM & Merchant Transactions at the time of issuance, You can, however, activate the debit card for international transactions by calling the customer care from your registered mobile number or using the IndusMobile App or using Net Banking. Also, you can visit the neared IndusInd Bank branch with original ID proof to get international transactions activated.
Block debit card through SMS
SMS LOST DDMMYYYY to 9223512966 from your registered mobile number.
Block debit card through Phone banking
Call phone banking at 18602677777 to block your debit card.
Block debit card through IndusMobile App
- Open IndusMobile app
- Go to ‘Select your service request’ option and select ‘Block Debit Card’
- Choose from these options - No replacement required, replacement required or upgrade card
- Mention the reason for your request
- Confirm the request
After filling the request form, the bank will block your card and dispatch the new card to your communication address.
As per the RBI, here are the rules that apply:
- A single transaction cannot be of amount more than USD 2,500
- More than 30 transactions cannot be performed in one calendar year
- One can receive remittance only for purpose of personal maintenance
To set PIN for your debit card, download the IndusMobile and follow these steps:
- Click on ‘Service Request’ at the bottom of the home screen
- Select ‘Set PIN’ option under dropdown
- Enter your card CVV, card expiry date and PAN number/ Date of Birth
- Enter your new PIN and confirm the same
- Click ‘Yes’ to proceed
- Your new PIN will be activated within 4 hours
To replace a damaged debit card, download the IndusMobile app and follow these steps:
- Open the IndusMobile app
- Click on ‘Select your service request’ option and select ‘Block debit card’
- Choose Replacement required from the options appearing on the screen
- Mention the reason for your request
- Confirm the request
The bank will dispatch the replacement card to your communication address.
TnC Contactless Cards Faqs
A Contactless card is a faster way to pay with your debit card for purchases under Rs.5000/- at participating stores. Instead of dipping (or swiping) your card on the merchant terminal, simply wave or tap your card on the contactless enabled terminal and pay without entering a PIN (for amount under Rs.5000/-).
Look for this symbol on your IndusInd Bank card and also on the machine at the shop. This symbol, if present, means that your card is a Contactless card and the machine is enabled for contactless transactions
Contactless cards benefits you through its enhanced convenience to pay and higher level of security. The convenience is by way of speed of payment through not having to enter your PIN for transactions below Rs.5000/-. It is also more secure as you are in control of the card at all times as the card does not leave your hand when you make the payment at the shop.
Yes, contactless technology uses secure encryption (the same as CHIP and PIN) so you can confidently use it. The maximum transaction value for a contactless transaction is capped at Rs.5000/which further limits any possible loss. Furthermore, you continue to be protected through the lost card liability cover on your card. Ensure that loss of your card is reported to IndusInd Bank immediately on discovering the same.
Look out for this symbol on the machine at the shop/store/outlet
Tap the card on the machine or keep it close to the terminal (for transactions below Rs. 5000/-)
You will hear a beep/see a green light and get the receipt for the contactless payment you have done
You can use your contactless card wherever you see this symbol at the shop/store/outlet. It is ideal for transactions below Rs.5000 as a PIN and Signature is not required. So you do not need to count the change or worry about carrying enough cash.
Yes, you will be able to use your Contactless Debit card, however, if the amount is above Rs.5000/- then you will have to use it like a regular debit card by either dipping (or swiping) it in the machine and you will also be asked to enter the PIN.
Yes, there is a daily limit of 5 contactless transactions on this card, which means that only 5 transactions below Rs.5000 will be permitted without two factor authentication, post which any transaction below Rs.5000 on that same day will require the card to be dipped and PIN to be typed.
No there is no limit on value of goods that you can purchase. For transaction value over Rs.5000/-you will have to use your card by either swiping or dipping it like any other EMV chip debit card.
The Rs.5000/- limit per transaction is only in India, if the transaction is over Rs.5000/- you will need to put in a PIN. Each country that has contactless cards has different rules and it also depends on the terminal which would be used at that time, in that country. However, the limit on the amount is as per your credit limit on your credit card and the daily transaction limit on your debit card.
Yes. If the shop doesn’t have a contactless machine installed, you can continue to dip (or swipe) your contactless debit card just as you always have. You can also choose to use this option even if there is a contactless terminal available.
Contactless is a permanent feature of your card and can’t be disabled. You can still dip (swipe) your Contactless debit card just as you always have and enter the PIN, if you don't want to make a purchase using contactless.
The machine at the shop/outlet will indicate that the payment has been made – a light, beep or indicator will let you know that the payment has been processed. You will get a receipt which means that the payment has been successful.
Please let the shopkeeper know that you need a receipt. However, the receipt is not directly available in some circumstances; for example, while paying for travel by tapping your card on an electronic ticket reader, or using a contactless card at a vending machine. And all contactless purchases are recorded on your statement and you will get to see them on your IndusInd Bank internet banking account and IndusInd Bank mobile app as well.
Contactless cards and machines do not work beyond a distance of 4 cm. We would suggest that you remove the card from your wallet/purse/clutch and keep it on the machine.
No. Your card has to be tapped within 4 cm of the card reader for more than half a second and the retailer must have first entered the amount for you to approve. Terminals can only process one payment transaction at a time, thereby reducing transaction errors.
There may be a small chance that the contactless functionality does not work straight away on your new card. Your card needs to be activated before the contactless functionality will work. If you use your card first on a transaction by inserting your card into a machine then putting a PIN, then contactless should work after this transaction.
Yes, IndusInd Bank Contactless Cards provide cover upto 100% of the purchase limit as long as you report the loss of your card to IndusInd Bank immediately
Standing Instructions
You can visit the below link to manage all your Standing instructions:
Manage E-Mandates
As per RBI guidelines on ‘Processing of e-mandate on cards for recurring transactions’, effective 1st October, 2021, existing / new e-mandates which were/are setup without additional factor of authentication will not be approved. We have integrated with a service provider to allow customers to setup standing instructions that are complaint with the guidelines.
As per the new regulatory guidelines, below activities need to be ensured:
- • Mandate registration, modification and deletion will require additional factor of authentication (AFA)
- • Customers will get a pre-debit notification by SMS and Email, 24 hours prior to the transaction
- • Customers can cancel the debit/ SI by visiting the link provided in the pre-debit notification
- • Customers will have the facility to view / modify or cancel any Sis that are set on their Debit card
- • Customers can also define maximum permissible amount for each SI. If the Debit amount is greater than the maximum amount set by the customer, the pre-debit notification that will be sent by the bank will have the link for the customer to approve the transaction via OTP. The transaction will not be processed if the above is not performed.
- • Transaction (SI) of value greater than INR 5000 will require AFA via OTP every time the debit request is received.
Any Standing Instruction set up on your Debit Card (both domestic and international) will be declined if it is not processed with additional factor of authentication (OTP).
You will have to visit the merchant website/ App where your SI was earlier registered. If the merchant is compliant with the new regulations, it will allow you to register for SI again.
Below is the list of merchants where you can setup recurring payments using your IndusInd Bank Debit Card:
- • Netflix
- • Max Life
- • Bajaj Allianz General Insurance
- • Amazon Prime
- • Google India
- • Policy Bazaar
- • Hotstar
- • Microsoft
- • Spotify
- • Discovery
- • RPSL
- • Naukri
- • Ipru
- • Zee5
- • HDFC Ergo
- • Max Niva Bupa
- • Vodafone
- • Bharti AXA Life Insurance
- • Macafee
- • Exide Life
- • Story tell
- • Club Mahindra
- • Gaana.com
We will decline any Standing Instruction which is registered without AFA.
No, only SIs registered on Debit Cards will start getting declined.
There will be no change for SI that is registered on your IndusInd Bank Account. However, the SIs setup on Debit cards will start getting declined from 1st October, 2021.
No, the bank will not be responsible if the SI is declined, the customer needs to make the payment directly with the merchant.
Commercial Cards
Contactless Corporate Card
It is the new generation Corporate Card from IndusInd Bank which allows the users to make faster payments at merchant locations with just a tap where contactless payment is accepted. It can also be used for standard shopping and online transactions.
The contactless payment feature lets consumers make safe and secure payments with a simple tap of the card on the POS machines at the Merchant outlets. These Near Field Communication (NFC) enabled terminals transmit payment details and authenticate transactions without swiping the card.
Anywhere that the Contactless payment POS Machine is available, the card can be used to tap and pay. If a contactless POS machine is not available, the Contactless card can still be used for swipe or dip transactions. If the PoS machine has a contactless symbol displayed on it, then it is enabled for contactless payments.
Look out for a retailer displaying the contactless symbol and Visa logo at the point of sale (POS). Hold your card within 4 cm of the secure contactless reader. Four green lights will appear. This takes no more than half a second. You can then remove your card and the transaction will be complete.
You should hold your Contactless card within 4 cm of the card reader.
You can use your Contactless card for any amount within the overall daily Point of Sales/Online Transaction Limit. For purchases done at the Contactless payment POS Machine the transaction amount will be limited to the per transaction limit set by the Bank in line with the regulatory guideline. Please visit www.indusind.com for further details. For transactions above the limit, the card holder will need to swipe the card and authenticate using the PIN.
A contactless payment is designed to let you make transactions easily and conveniently. The retailer will ask if you require a charge slip. If you do not require a charge slip, please advise the retailer and a charge slip will not be given.
Your transaction is confirmed by illumination of four green indicator lights and a display message confirming that your transaction has been successful.
Your card has to be tapped within 4 cm of the card reader for more than half a second and the retailer must have first entered the amount for you to approve. Terminals can only process one payment transaction at a time, therefore reducing transaction errors.
Corporate Card is a multi-purpose International Card which can be used for the following purposes: a) Faster day-to-day payments at merchant locations accepting Contactless Payments b) POS shopping at 10 lakh merchant outlets in India and over 30 million worldwide accepting Card Payments cc) Safe online shopping and e-commerce transactions e) Utility and other Bill Payments
Yes, like a Standard Credit Card the customer will receive an SMS and an e-mail notification each time a transaction takes place.
Yes. This Corporate Card is secured with a Contact and Contactless Chip along with Magstripe and NFC antenna. The NFC antenna is for enabling Contactless Payments at Merchant locations accepting contactless Payments. The Chip and the magstripe portion is used for transactions - such as usage purchases at POS/online where Contactless payments are not accepted.
In the rare event when the Contactless transaction on your Corporate Card is declined due to any reason, the Cardholder can request the merchant to make the payment by swiping or dipping the Card in the traditional manner.
Generally, such situation does not arise. However, in any such stray cases, one may contact IndusInd Bank customer care center to enquire about the status of the transaction.
Foreign Exchange
Forex Card
Indus Forex Multi Currency Card is Chip Technology based Foreign Exchange card which offers greater security and increased protection.
Due to the increasing frauds and misuse with the payments done by magnetic stripe cards, the cards have been developed according to the EMV standard in order to prevent fraud and misuse. This makes the chip card more secure against card frauds and protect customers from card skimming and counterfeit.
No, after issuance of the card, the Bank takes upto 24 working hours to activate the card. An SMS alert is sent to you on activation of the card. Alternatively, you can call our Phone Banking Service to check on card activation.
You can use the card either at an ATM for cash withdrawal or at merchant outlet for a purchase transaction. You can use the card online as well for any online shopping or payment.
Please note, the card cannot be used in India, Nepal and Bhutan.
You can check the available balance through any of the below options-
1. By Logging into the ontine portal. Click here to login.
2. By calling our Phone Banking Service.
3. By doing a balance enquiry at VISA/ VISA Plus ATM. Balance of the wallet in local currency will only show at the ATM
Further, the Bank sends an SMS alert for every transaction done using the Indus Forex Multi Currency Card which carries the available balance details. SMS alerts are sent only to mobile number from India. On SMS alert the balance of the currency wallet debited will be recieved.
No, this card cannot be used in India, Nepal and Bhutan.
Please report the same to the Bank immediately through the Phone Banking Service. We will get your card hot listed immediately and you can walk into one of branches for a replacement card.
Yes, you will be able to use your Multi Currency Card in any country across the world, except for India, Nepal & Bhutan. The card can be used forwithdrawing the local currency of the country you are in or for making payment for a purchase transaction at any merchant outlet.
While you may not be able to load the card outside India, but your family in India can get your card reloaded from any Induslnd Bank branch or partner agent who had issued the card.
You can call Induslnd Bank's 24-hour Phone Banking Service for any assistance and information related to your card. 1860 267 7777 (from India only) or +9122 61553100 (from outside India) Can I write an email to the service desk, in case of any query? Yes, you can email your queries for reachus@indusind.com
Your PIN (Personal Identification Number) is a unique 4 digit secure number assigned to your card and known only to you. It allows you to withdraw cash from VISA/ VISA Plus/ ATMs worldwide with a charge as listed. This PIN may also be used at certain merchant establishments where the POS / EDC terminal prompts for PIN entry.
There are 1.6 Million VISA / VISA Plus ATMs at over 200 countries worldwide. Please visit the below ATM locator link to find nearest VISA ATM http://www.visa.com. or http://visa.via.infonow.net/locator/global. Unless you are travelling to someplace very remote, it is very unlikely that you won't be able to find one. It may please be noted that there are certain countries where, either VISA has withdrawn support or there is no presence of VISA infrastructure. Thus, there will be no acceptability of our card in such countries.
Please call our 24 x 7 Phone Banking Service and request for reissuance of ATM PIN. We will send the ATM PIN to the communication address in India. Also please note that the card gets blocked for use at ATMs, if the card has been used with a wrong ATM PIN more than 3 times. This is for your own security and to prevent any fraudulent use on the card.
Indus Forex Multi Currency Card is valid for 3 years. Upon card expiry, please cut the Indus Forex Multi Currency Card into several pieces through the magnetic strip. Please visit the nearby Indus Ind Bank branch for new card.
Please call our 24-hour Phone Banking Service or alternatively write an email to dedicated service desk.
If the transaction is done in base currency (currency in which the card is purchased), there is no exchange rate applicable. However, for transactions done in currency other than base currency, exchange rates / conversion rates from the base currency to the local currency are applicable in accordance with rates applied by VISA. Currency conversion is done automatically in an international online environment by VISA.
We as a bank do not have any role in the currency conversion and do not apply any cross currency conversion fees. The rates used by VISA are fine and is globally accepted by all banks.
As per RBI regulations. One can retain the card only if the balance on the card is less than $2000.Else the amount needs to be refunded within 180 days from the date of arrival``. In case refund is not made on time, the card would be suspended and the card holder can face legal action.
You would receive an SMS and Email confirmation as soon as your card is loaded/ reloaded. You can also check your balance on our website using the login ID and password provided for internet banking.
Are there any charges for using a VISA Plus ATM?
As given in charge fee grid, no ATM transaction comes free. There is a transaction fee levied for using ATMs for cash withdrawal Ft balance inquiry. Thus limit use of your card on ATM and use on POS to avoid deduction of any charges.
Will the ATM display foreign exchange rates that one can use before withdrawing cash?
No, ATM will not display foreign exchange rates. Post withdrawal of cash, with figure for amount withdrawn and balance available in card, it is possible to arrive at the exchange rate charged.
No, Partial Withdrawal is not allowed.
In the event of any use of the Card abroad, or any charge that is levied on the Card, the deductions to the amounts for such purpose shall happen in the following order
- First, in case of the use/charge is in a specific currency, the amount shall be deducted from the balance available in the corresponding currency wallet of that currency.
- In the event that no Currency Wallet has been created for that currency, amounts would be deducted from the currency wallet denominated in United States Dollars (USD).
- In the event that there is insufficient balance in any of the currency wallets from which transaction is requested, bank will debit the default currency specified for the product (as USD) or will debit the next wallet in which amount is available. Subsequent wallets will be debited in case of non- availability of funds equal to total amount of transaction requested. Hierarchy in which the subsequent wallet for such debit is decided will follow the Currency Priority set by the customer if any. In case no such priority is set by the customer, the default currency priority will be decided by the bank. Customer may set the priority of currency for debits in aforementioned scenario either by requesting the same at the time of card being issued (on the account opening form) or may set the same himself or herself on the online card access.
1. What is Tax Collected at Source (TCS)?
Tax Collected at Source (TCS) is an income tax collected on all foreign exchange transactions falling under the Liberalised Remittance scheme (LRS) given in the Section 206C of the Income Tax Act 1961.
2. What is the effective date of applicability of the TCS on foreign remittances under LRS?
TCS on foreign exchange transactions under LRS is effective on any remittance transaction under LRS on or after 1st October 2020.
3. What are the different purposes on which the tax collection is applicable?
The tax will be applicable on all foreign exchange transactions that fall under the LRS of RBI.
4. What does new added sections, 206AB and 20CCA entail?
Two new sections 206AB and 206CCA sections mandate tax deduction (section 206AB) or tax collection (section 206CCA) at higher rate in case of certain non-filers (specified persons) with respect to tax deductions and tax collections w.e.f. 1st July 2021. Higher rate is twice the prescribed rate or 5%, whichever is higher.
5. Who is a specified person as per, 206AB and 20CCA sections?
According to new sections 206AB and 206CCA a specified person is someone who necessarily fulfils both the below criterion w.e.f. 1st July 2021:
• Person who has not filed the returns of income for both of the two assessment years relevant to the two previous years immediately before the previous year in which tax is required to be deducted / collected. Two previous years to be counted are required to be those whose return filing date has expired.
• Aggregate of tax deducted at source and tax collected at source is rupees fifty thousand or more in each of these two previous years.
6. What all transactions will be impacted by this TCS provision?
All remittances more than INR 7 lakh in a financial year done under LRS will be liable for TCS as per below table w.e.f. 1st July 2021:
| Category | TCS Rate (Specified person – No) |
TCS Rate (Specified person – Yes) |
|---|---|---|
| Remittance under LRS | 5.00% | 10.00% |
| Remittance under Education Loan | 0.50% | 5.00% |
Below transactions are under the purview of TCS applicability –
• Foreign Exchange transactions under LRS purpose through IndusInd Bank branch or IndusForex.
• Foreign Currency Demand Draft or Cash issuance from domestic resident account under LRS purpose.
• Forex Card purchase and Reloading under LRS purpose through IndusInd Bank branch or IndusForex.
• International transactions, on Debit cards transactions (including transactions done on Foreign Merchants).
7. What is the new tax implication on remittances for pursuing overseas education?
The TCS at 0.5% shall be applicable on the amount exceeding INR 7,00,000 in a financial year under LRS for non-Specified person, if the amount remitted is obtained out of a loan from a Financial Institution for pursuing education. For specified person, the TCS at 5% shall be applicable w.e.f 1st July 2021 for above case.
For this purpose, ‘Financial Institution’ means a banking company to which the Banking Regulation Act, 1949 applies (including any bank or banking institution referred to in section 51 of that Act); or any other financial institution which the Central Government may, by notification in the Official Gazette, specify in this behalf.
In cases where the amount being sent through outward remittance is out of a loan obtained from any financial institution as defined in section 80E for the purpose of pursuing higher education. A financial institution under section 80E refers to any bank operating as per the Banking Regulation Act, 1949 and is in the capacity to provide such a service
E.g. If the total amount remitted under LRS in a financial year is INR 8,00,000 for pursuing overseas education, TCS at 0.5% will be applicable on INR 1,00,000 (INR 8,00,000 - INR 7,00,000).
E.g. If there are multiple remittance of say three transactions of 10 lakhs each, where 1st and 3rd transactions are regular LRS and 2nd one is the Education remittance through Educational Loan, then only that 2nd transaction will be charged at 0.50%
8. What is the tax implication if the amount remitted for pursuing education abroad is from owned funds or out of loans from Non-specified institutions/private parties?
The TCS at 5% shall be applicable on remittances exceeding INR 7 lakhs in a financial year for non-Specified person and at 10% for specified person w.e.f. 1st July 2021.
9. What is the tax implication of remittances for the purchase of overseas tour program package under LRS?
The TCS at 5% will be applicable on the total amount remitted for non-Specified person and 10% for specified person w.e.f from 1st July. The tour operator will collect the TCS on the entire amount irrespective of its value. Bank will not be collecting anything from the Tour operator and it’s Tour Operator’s responsibility to remit the TCS to GOI. For instance, if the amount remitted is INR 2,00,000, the TCS will be applicable on entire INR 2,00,000.
10. Which transactions are included in the threshold limit of INR 7 lakhs, above which the TCS shall be applicable?
All forex transactions under LRS will be included in threshold limit of INR 7 lakhs. However, there is no monetary threshold prescribed for overseas remittance through our program package and the tour operator will collect the TCS on the entire amount irrespective of its value.
11. How threshold limit of INR 7 lakhs would be computed for FY 2020-21?
The TCS on all forex transactions under LRS shall be applicable from 1st October, 2020. However, for tracking the threshold limit of INR 7 lakhs, all forex transactions under LRS made from 1st April, 2021 onwards would be considered for FY 2021-22.
12. Will the TCS be applicable if the foreign exchange facility is availed in Cash / Forex cards?
Yes, TCS will be applied on LRS transactions exceeding INR 7 lakhs if foreign exchange facility is availed of through FCY Cash withdrawal at branches / loading Forex cards, provided the purpose of transaction falls under LRS.
13. What is the applicable TCS if PAN /AADHAR is not updated on Bank's records?
It is mandatory for the resident individual to provide his/her Permanent Account Number (PAN) for all transactions under LRS.
14. Will GST be applied on the TCS amount?
No GST will be applicable on the tax collected as TCS. However, GST will be applicable on the currency conversion, remittance service charge and other charges.
15. If remitter/ customer can avail tax credit of the TCS?
Yes, the remitter / customer can claim credit for the tax collected by the bank while filing for their tax returns as the TCS is deemed to be a payment of tax on behalf of the person from whom the amount has been collected. The said TCS remittance from the Bank’s side will reflect in Form 26AS of the PAN Card holder
16. What if the tour package/educational program etc. is subsequently cancelled or not persuaded?
The bank will not refund the TCS collected by it and paid to Government. However, the credit for the same shall be available to the remitter/customer and they can claim refund by filing income tax returns.
For any further assistance, please contact your Relationship Manager or your nearest branch
17. When was Tax Collected at Source (TCS) introduced?
TCS was introduced in Union Budget in 2020 and was to be applicable from April 1, 2020. However, this was deferred due to on-going COVID-19 pandemic. It came into effect from October 1, 2020. Remittances executed before the effective date was not be part of TCS.
18. Purposes covered under TCS?
All purposes which form part of Liberalized Remittance Scheme (LRS) will be covered under TCS. For example, purposes like maintenance of relatives abroad, gift, education, medical treatment, overseas investments in property and stocks, emigration will come under the tax bracket
19. What is the TCS Rate?
For non-Specified persons, with PAN card linked to Aadhaar, it is 5% of the amount remitted in excess of INR 7,00,000 in a financial year. For Specified persons, with PAN card linked to Aadhaar, it is 10% of the amount remitted in excess of INR 7,00,000 in a financial year. Without PAN card, rate will be 10% & 20% for non-Specified & Specified persons respectively w.e.f. 1st July 2021.
20. Who has the authority to collect tax?
- Authorized Dealer (AD) i.e. Bank who will be remitting money on behalf of remitter will collect the tax and will in turn pay it to the Government
- AD – II players will collect the tax and will in turn pay it to the Government
- Tour Operator will have to collect tax for foreign tours arranged by them and handle TCS on their own before sending net amount for remittance abroad.
21. Are there any exemptions?
- Remittances below INR 7,00,000 in a financial year are exempted from TCS
- Payments for foreign education made from obtaining an education loan from a financial institution in India are subject to 0.50% TCS
- If the remitter books foreign tour on his/her own, it will not be subject to TCS
22. Is TCS applicable on tax paid income?
The TCS can be set off against the overall liability of the tax payer. If parent has already paid tax on the money in question as his or her income and is simply gifting the same to the child, the parent can claim a refund from the TCS
23. Is the customer eligible for any tax rebate?
TCS paid can be adjusted against tax payable when individuals who would have paid TCS file income tax returns (ITR) in India. Please consult your tax advisor/consultant for further information.
24. In case of return of transactions post debit from the account, will the TCS get refunded back?
Please note TCS once deducted cannot be refunded by the bank in case of any return of transaction/remittances. Remitter can approach for refund from tax authority while filing Income Tax Returns or consult with tax advisor for refund/adjustment.
25. Is TCS applicable to NRE / NRO / FCNR Repatriation?
TCS is not applicable on NRE / NRO / FCNR repatriations.
26. The aggregate amount of remittance made by customer during the financial year is INR 500,000. Whether TCS applicable to this customer?
No, since the aggregate amount of remittance made during the financial year is less than INR 700,000, TCS is not applicable to this customer. Further, Aggregate amount refers only to the transactions which are executed directly basis the Individual customers request and only by IndusInd Bank and refers to the cumulative of all Forex transactions be it Branch, Online portal or International debit cards and it includes charges, GST and FCCT GST
27. The aggregate amount of remittance made by customer during the financial year is INR 1,000,000. Whether TCS applicable to this customer?
Yes, since the aggregate amount of remittance made during the financial year is more than INR 700,000, TCS is applicable to this customer. In such case TCS will be applicable @5% on INR 300,000 (on amount exceeding INR 700,000) for non-Specified persons & @10% for specified persons w.e.f. 1st July 2021.
28. The aggregate amount of remittance made by customer up to 30th June 2021 is INR 500,000 and from 1st July 2021 to 31 March 2022 is INR 500,000. Whether TCS applicable to this customer?
Yes, since the aggregate amount of remittance made during the financial year is more than INR 700,000, TCS is applicable to this customer. In such case TCS will be applicable @ 5% on INR 300,000 (on amount exceeding INR 700,000) for non-Specified persons & @10% for specified persons w.e.f. 1st July 2021.
29. The aggregate amount of remittance made by a Specified person up to 30th June 2021 is INR 1,000,000 and from 1st July 2021 to 31 March 2022 is INR 500,000. Whether 10% TCS applicable to this customer?
Yes, since the aggregate amount of remittance made during the financial year is more than INR 700,000, TCS is applicable to this Specific person. In this case TCS will be applicable @ 10% on INR 500,000 w.e.f. 1st July 2021.
30. The aggregate amount of remittance made by a Specified person up to 30th June 2021 is INR 1,000,000. He paid 5% TCS on previous transaction. Whether his residual 5% TCS will be added in his next transaction?
No, in this case TCS would apply, @ 10% only, on every amount remitted on any transaction afterwards for FY 2021-22.
31. A Specified person Mr A has made remittance of USD 20,000 towards education fees out of India out of his loan borrowed from Scheduled Bank (qualified loan under Indian Income Tax Act) after 1st July 2021. Is TCS applicable to this customer and at what rate?
Yes. In this case, since the amount of remittance is INR 14,80,000 (USD 20,000*INR 74) and made toward pursuing education out of India out of loan qualified under the Indian Income Tax Act, TCS @ 10% would apply on the amount exceeding INR 700,000. It is assumed this is the 1st transaction under the PAN Number in the FY 21-22.
32. Customer, the US embassy in India, has made remittance of USD 20,000 for official purpose to USA. Is TCS applicable to this customer?
No. TCS is applicable on remittances made by an embassy, a High Commission, a legation, a commission, a consulate, the trade representation of a foreign State etc.
• Here is the Govt. of India notification on application of TCS w.e.f. 1st October 2020. Click Here
• Here is the Govt. of India notification on application of section 206AB and 206CCA w.e.f. 1st July 2021. Click Here
Outward Remittance
An Outward Remittance is a transfer of money in foreign exchange, by a resident in India or an NRI to a beneficiary situated within or outside the country (except for Nepal and Bhutan) for a purpose as approved under FEMA (Foreign Exchange Management Act). You may send money abroad to a beneficiary for various purposes including education, employment abroad, emigration, maintenance of close relatives, foreign travel, gifts, medical treatment, donations, etc.
Any resident individual who wants to buy / remit foreign exchange, under Liberalised Remittance Scheme (LRS) can avail forex upto a limit of USD 250,000 per financial year. This limit is available for an individual for both Current Account and Capital Account transactions put together under LRS.
Money can be sent abroad through the following modes:
- Wire Transfer
- Foreign Currency Demand Draft
Yes, it is mandatory for the resident individual to provide his/her Permanent Account Number (PAN) for all transactions under LRS. This is applicable for IBL and Non-IBL Customers.
Below KYC documents are mandatorily required.
- Pan Card copy
- Valid POA – Passport / Aadhaar Card
As per Companies Act, 2013 the below are the eligible relationship
Husband |
Wife |
Father |
Mother |
Step-father |
Step-Mother |
Son |
Stepson |
Son’s Wife |
Daughter |
Daughter’s Husband |
Sister |
Brother |
Step Brother |
Step-Sister |
For Correspondent Bank charges, needs to be converted in to INR equivalent basis the Card Rate and the said INR equivalent should be captured in the “Charges” field in the Mercury FX screen. Correspondent Bank charges are to be taken as per currency and as per different currency slabs.
While sending funds under purpose of Gift, can the beneficiary be an Individual or Overseas Company?
Under purpose for Gift, the beneficiary can be only a Non-Resident Individual. If the beneficiary is a Non-Individual or Resident Individual, such transactions would not be accepted.
Purposes for which Drafts can be issues :
- Basic Travel Quota (BTQ)
- Business Travel
- Education
- Employment
- Immigration
- Medical
- Fee
- Any other valid purpose covered under Retail Forex
Purposes for which Outward Remittances can be done for
- Basic Travel Quota (BTQ)
- Business Travel
- Education
- Employment
- Immigration
- Medical
- Fee
- Purchase of Property Overseas
- Opening of overseas account
- Investment in Shares / MF overseas
- Any other valid purpose covered under Retail Forex
The remittance facility under the Scheme is not available for the following:
- Remittance for any purpose specifically prohibited under Schedule-I (like purchase of lottery tickets/sweep stakes, proscribed magazines, etc.) or any item restricted under Schedule II of Foreign Exchange Management (Current Account Transactions) Rules, 2000.
- Remittance from India for margins or margin calls to overseas exchanges / overseas counterparty.
- Remittances for purchase of FCCBs issued by Indian companies in the overseas secondary market.
- Remittance for trading in foreign exchange abroad.
- Capital account remittances, directly or indirectly, to countries identified by the Financial Action Task Force (FATF) as “non- cooperative countries and territories”, from time to time.
- Remittances directly or indirectly to those individuals and entities identified as posing significant risk of committing acts of terrorism as advised separately by the Reserve Bank to the banks.
For business trips to foreign countries, resident individuals/ individuals having proprietorship firms can avail of foreign exchange up to USD 2,50,000 in a financial year irrespective of the number of visits undertaken during the year. This limit has been subsumed under the Liberalized Remittance Scheme w.e.f. May 26, 2015.
Visits in connection with attending of an international conference, seminar, specialized training, apprentice training, etc., are treated as business visits.
Remittances under the facility can be consolidated in respect of close family members subject to the individual family members complying with the terms and conditions of the LRS.
However, clubbing is not permitted by other family members for capital account transactions such as opening a bank account/investment/purchase of property, if they are not the co-owners/co-partners of the investment/property/overseas bank account.
Further, a resident cannot gift to another resident, in foreign currency, for the credit of the latter’s foreign currency account held abroad under LRS.
A person resident in India can take a life insurance policy by an insurer abroad, with no specific monetary limit, only if the policy is held under the specific or general permission of the Reserve Bank of India. In case of a general insurance policy, the same needs to be held under the general or specific permission of the Central Government.
However, remittance towards premium for Health Insurance policies may be availed of from companies abroad.
Individual travelling abroad either for leisure or business is allowed to carry Foreign Currency Notes up to USD 3000 or equivalent. Balance amount can be taken in form of Forex Travel Card.
If you are travelling to Iraq, Islamic Republic of Iran, Russia or Republics of Commonwealth of Independent States following limits are available for you.
Exceptions |
Limit |
Travellers proceeding to Iraq |
Up to maximum USD 5,000 or its equivalent |
Travellers proceeding to Islamic Republic of Iran, Russian Federation and other Republics of Commonwealth of Independent States |
Up to the entire foreign exchange (up-to USD 250, 000) in the form of foreign currency |
LRS does not allow extension of fund and non-fund based facilities by the AD banks to their resident individual customers to facilitate remittances for capital account transactions under LRS.
However, AD banks may extend fund and non-fund based facilities to resident individuals to facilitate current account remittances under the Scheme.
Dance troupes, artistes, etc., who wish to undertake cultural tours abroad, should obtain prior approval from the Ministry of Human Resources Development (Department of Education and Culture), Government of India, New Delhi
APPLICATION FOR REMITTANCE ABROAD FORM. This form is to be used for request from Resident and Non-Resident customers.
APPLICATION FOR INDUS MULTI CURRENCY CARD FORM. This form will be used for Reload of Multicurrency Card as well.
|
|
Outward Remittance |
Inward Remittance |
Indus Forex Card |
FCY Demand Draft |
FCY Notes (Subject to Availability) |
USD |
US Dollar |
Yes |
Yes |
Yes |
Yes |
Yes |
EUR |
Euro |
Yes |
Yes |
Yes |
Yes |
Yes |
GBP |
Great Britain pound |
Yes |
Yes |
Yes |
Yes |
Yes |
AUD |
Australia Dollar |
Yes |
Yes |
Yes |
Yes |
Yes |
CAD |
Canada Dollar |
Yes |
Yes |
Yes |
Yes |
Yes |
AED |
Arab Emirates Dirham |
Yes |
Yes |
Yes |
|
Yes |
CHF |
Swiss Franc |
Yes |
Yes |
Yes |
|
|
DKK |
Danish Krone |
Yes |
Yes |
|
|
|
HKD |
Hong Kong Dollar |
Yes |
Yes |
Yes |
|
|
JPY/100 |
Japanese Yen |
Yes |
Yes |
Yes |
|
|
NOK |
Norwegian Krone |
Yes |
Yes |
|
|
|
NZD |
New Zealand Dollar |
Yes |
Yes |
Yes |
Yes |
|
SAR |
Saudi Riyal |
Yes |
Yes |
Yes |
|
Yes |
SEK |
Swedish Krone |
Yes |
Yes |
|
|
|
SGD |
Singapore Dollar |
Yes |
Yes |
Yes |
Yes |
Yes |
ZAR |
South African Rand |
Yes |
Yes |
Yes |
|
|
THB |
Thai Bhat |
|
|
Yes |
|
|
Yes, for issuance of Indus Multicurrency Card Passport number and Expiry date is mandatory to be captured in the form.
You do not need to have an account relationship with IndusInd Bank to purchase a Indus Multicurrency Card. Simply login to www.indusforex.com or walk into a designated IndusInd Bank branch and purchase a Indus Multicurrency Card over the counter.
The usage of your Multi-Currency Forex Card should be in strict accordance with the regulations of the Reserve Bank of India and FEMA regulations. The amount loaded or reloaded on a card should be done as per the foreign Exchange Management Act, 1999 and prevailing RBI regulations in force.
You can commence the usage of the card once the same is activated. The card activation takes one business day.
Please refer to the Forex Card Handbook for process.
Your PIN (Personal Identification Number) is a unique 4-digit secure number assigned to your Card and known only to you. It allows you to withdraw cash from VISA/ VISA Plus ATMs worldwide.
It is possible to change your PIN by logging in to IndusForex under section Manage Your Card.
Yes, Indus Multicurrency Card can be swiped directly for payments at merchant establishments that accept VISA.
No, there is no transaction fee incurred for swiping your card for payments at merchant establishments.
The PIN is not required to process transactions done through swiping your card at merchant establishments. Do not share your PIN even if requested.
INR 5 lacs equivalent in Foreign Currency per day combined for both POS / ATM withdrawal transactions.
NRE account balances are freely repatriable. There is no limit specified for outward remittances from such accounts.
Outward remittances from NRO a/c are permissible subject to satisfying the documentation requirements
For making an outward remittance from your NRO account, please walk into any IndusInd Bank branch in India and initiate the outward remittance by filling up APPLICATION FOR REMITTANCE ABROAD FORM specifying the necessary details. In addition to this, you have to provide documentary proof of the source of the funds sought to be remitted and C.A. Certificate in Form 15CA and 15CB.
The formats and submission details are available at the website of the Income Tax Department.
Subject to a limitation of USD 1,000,000, you can repatriate your current income for the current financial year. Current year is the financial year in which the remittance is sought to be made. Balances in the NRO account arising out of capital receipts can also be repatriated upto the above limit.
Form 15 CB needs to be certified by a Chartered Accountant. Form 15 CA has to be filled in online at the website of the Income Tax Department. The printout generated from this site has to then be signed by the remitter and submitted along with Form 15CB at the branch from where the remittance is being made. The detailed process of filling up the form is also available at the Income Tax Department website. The filled up form then needs to be produced along with the 15 CB to the branch.
Steps to be followed to file Form 15CA online
- Login to: https://incometaxindiaefiling.gov.in
- Go to e-filling log in page
- Input user ID ( PAN of Remitter) and password
- After login, go to sub option: E file – Prepare and Submit Online Form ( other than ITR)
- Select form type – 15CA
- Instructions are given to fill the 15CA form
- The online form is available in two parts – Part A and Part B
- Complete the respective applicable PART either PART A or PART B (as required)
- Once the Form 15CA is filled, verify and submit
- Go to My account- My Returns/Forms. It will show all the returns and Forms submitted
- Click on the 15CA form and take a print along with the acknowledgment Slip
- Form 15CA duly printed should be signed by Remitter and submitted to Bank in duplicate
Customer can do online transaction for purchase of Indus MultiCurrency Forex Card and currency notes, reload of Indus Multicurrency Forex card and outward remittance. Additionally, customers traveling abroad can purchase a travel insurance policy while booking their Forex.
On IndusForex, you can:
- Buy Forex – Purchase of Currency Notes / Indus MultiCurrency Forex Card
- Reload Card – Reload your Indus MultiCurrency Forex Card
- Send Money Abroad – Through Telegraphic Transfer/ Wire transfer
- You can purchase minimum 100 $ or equivalent and maximum 10000 $ or equivalent for Forex card
- You can book minimum 500 $ or equivalent and maximum 3000 $ or equivalent for currency notes
- You can transfer minimum 100 $ or equivalent and maximum 25000 $ or equivalent via wire transfer
As per FEMA, you can do Forex transactions worth USD 2,50,000 or equivalent in a financial year.
Any resident Indian with a valid PAN and Indian mobile number can transact on IndusForex
No, even if you are not holding an account with IndusInd Bank, you can transact on IndusForex
You can send money abroad from IndusForex for the following purposes: Overseas Education, Medical, Employment, Immigration, Visa Fees, Family Maintenance and GIFT.
You can buy Indus Multicurrency Forex card for following purposes: Leisure Travel, Overseas Education, Medical, Employment and Immigration
Purpose |
Currency Notes |
Multicurrency Forex Card Purchase |
Multicurrency Forex Card Reload |
Outward Remittance |
Leisure Travel |
Yes |
Yes |
Yes |
No |
Employment |
No |
Yes |
Yes |
Yes |
Immigration |
No |
Yes |
Yes |
Yes |
Visa Fees |
No |
No |
No |
Yes |
Education |
No |
Yes |
Yes |
Yes |
Maintenance |
No |
No |
No |
Yes |
Gift |
No |
No |
No |
Yes |
Medical |
No |
Yes |
Yes |
Yes |
- You should have a valid PAN in your Name and a valid mobile number
- Your FEMA limit for the FY should not be breached beyond USD 2,50,000
- The transaction on IndusForex should be done by the traveller/ remitter only
A close relative cannot fund a Forex transaction on IndusForex. Customer can walk into an IndusInd bank branch and carry out the same.
- Build your order – select the service you want (Buy Forex Card, Reload Forex Card or Send Money Abroad). Add currency and amount in your order wallet.
- Enter personal details and travel/ beneficiary details – You can pre-fill your details basis IndusInd savings account relationship, past purchase on IndusForex or through Aadhaar.
- Select processing/ delivery mode and upload required documents – basis your order, you can select your mode of processing (processing at IndusInd Bank branch or online processing)
- Confirm your order and book your Forex rate by paying 5% of token amount.
- Complete your order - remaining amount needs to be paid by online NEFT/RTGS/IMPS to IndusInd Bank account within 24 hours of order booking.
IndusForex offers you best Forex rates online. The rates available while order building are basis the live market data feed. The final rate applicable at time of order confirmation will be taken as final. Order will be booked on live rates prevalent at order confirmation stag
All Individual Savings Account holder of IndusInd Bank or any customer who has completed a transaction through indusforex.indusind.com earlier can reorder on IndusForex basis past transaction.
You should keep a buffer of atleast 2 working days before your travel date to book Forex on IndusForex.
You can pick up your Forex card from IndusInd Bank Branch or get it delivered by courier at your preferred location.
Currency notes are only available for pick up at IndusInd Bank branch.
Yes, you can change the delivery address of Forex while selecting your mode of delivery.
You can collect your card from the nearest IndusInd Branch in a nearby city. You can also get it delivered by courier at your location.
IndusForex is available in 400+ cities across India. For the complete list of cities where we are operating, click here.
Online processing is the fastest and most convenient way of order processing on IndusForex. You'll need to verify your Aadhaar no. and e-sign the order to get a complete online experience.
Benefits to you:
- No need to visit an IndusInd branch for document verification
- Experience faster order completion - Get your order processed within 24 hours
- No paperwork involved, it all happens online.
How does it work?
- Add your Aadhaar no.
- You'll receive an OTP on your registered mobile number with Aadhaar
- You e-sign your documents on the basis of the OTP validation
- If everything is in order, we complete your transaction online, no questions asked!
You need to have your valid Aadhaar number, your active mobile number linked to aadhaar number and an order value of less than $10,000/ $25,000 or equivalent for Forex/ wire transfer respectively.
Yes, if you fulfil the above criteria of online processing, any customer can avail the online processing mode.
No, you can avail the online processing mode only if you e-sign your order basis aadhaar number OTP validation.
IndusInd bank account holders don’t need to upload any document for IndusForex transaction.
Non IndusInd account holders need to provide PAN Card copy and Address proof for the address mentioned under Personal Details.
No, document upload online is mandatory for order processing of all orders on IndusForex. Though, you need to carry your original documents as uploaded to the branch for verification for branch pick up orders.
No, order processing will start only post upload of all mandatory documents on IndusForex
Following payment modes are available on IndusForex:
- 100% Payment through IndusNet or IndusInd Debit Card for Savings Account holders of IndusInd Bank
- 5% Payment through Payment Gateway for any customer including IndusInd Customers
Yes, as per FEMA guideline, funds for Forex transactions should be paid by the account of remitter/ traveller only failing which the transaction is bound to be cancelled. A relative or friend cannot make payment on your behalf on IndusForex.
No, payment needs to be made via online NEFT/ RTGS/ IMPS only to the said IndusInd Bank account.
You can book the Forex rate by paying 5% amount and make 95% payment later. Forex rates are subject to change, hence you can book your Forex rate by paying a small token amount.
No, only after payment of 95% amount order processing will start. If 95% payment is not received within 24 hrs of Forex booking, Forex order can be cancelled by the bank.
- Make 95% payment via online NEFT/ RTGS/ IMPS to IndusInd account no.: 00993564615325 IFSC code: INDB0000001 within 24 hours of making 5% payment.
- Go to My Orders page on IndusForex, login with your mobile no. & PAN and go to order tracking
- Upload the documents under my orders section (if not already done)
- Update the successful NEFT/ RTGS/ IMPS transaction no.
- Check your order status on ‘my order’ page. If it shows ‘Under Processing’, we’ll process and complete your order
95% payment needs to be completed within 24 hrs of making 5% payment online
After 2 days of rate booking, your order will be cancelled by the bank if 95% payment transaction no. is not received by the bank.
Check your order stage under ‘order tracking’, it should show order ‘under processing’ or ‘order authorised’. Otherwise it will show pending tasks.
You can check the branch details for your Forex order for branch contact information through Track your Order Page, or the same can be checked on the E-mail sent by the bank.
You can get in touch for your order at 1860 267 7777 / 022 44066666 or email.
You can buy travel insurance on indusforex.com while purchasing forex for your international trip. It is a simple 'one click buy' to secure your travel in case of any exigencies.
- You can buy travel insurance while buying forex card and currency notes on indusforex.com
- You can take insurance for any travel purpose within the above product categories like leisure travel, business travel, education travel etc.
While buying forex from indusforex.com, you will be shown the insurance offer and policy details, along with premium to be paid for your trip. You can chose to buy the insurance policy within the same forex order. Once premium payment is confirmed at our end, the policy will be sent on your email within few minutes.
You can pay the policy premium along with your forex order in the same bill with any of the given modes – debit card, credit card, internet banking. If you are paying only 5% of forex order initially, the insurance premium need to be paid in full along with 5% of forex value.
The policy premium will be taken along with 5% forex amount and the policy will be generated right after this payment is successful.
You can buy travel insurance to any country of travel as filled in your forex order. The policy is eligible only for the country you are travelling to.
You need not provide any extra detail for travel insurance on indusforex. Your travel details as provided in indusforex should be correct to ensure validity of the insurance policy.
For now, the travel insurance on indusforex can only be bought for the traveller who is buying the forex amount.
The policy has a sum insured of 50,000 $ or 30,000 € as per the travel location. The general benefits in the policy are:
- Hospitalization expenses including out-patient and in-patient care
- Double sum insured in case of hospitalization due to accident
- Treatment in home country upto 30 days after returning from trip
- Daily allowance in case of hospitalization upto a maximum of 5 days
- Payment of family member visiting the person insured
- Upgrade to business class post discharge from hospital
- Dental expenses and medical evacuation covered
- Compensate for financial loss in case of trip cancellation & interruption (wholly or in part) and trip delay
- Payment towards cost incurred due to loss of passport, loss/ delay in checked in baggage
- Please note, Pre-existing diseases are not covered under this policy when purchasing from IndusForex
You need to be aware of and adhere to the following:
- The insurance policy is applicable only for the travel period, travel country and the traveller as per the forex order.
- The traveller should not have any pre-existing diseases as per the insurance norms
- You have not been diagnosed/ hospitalized or under any treatment for any illness/ injury in the last 48 months
- You have never filed claim under any insurance policy
You can cancel the insurance policy before the start of your travel date by contacting Religare customer care @ 1800 200 4488/ customerfirst@religarehealthinsurance.com
In case of queries or support, contact Religare customer care @ 1800 200 4488/ customerfirst@religarehealthinsurance.com or click here.
1. What is Tax Collected at Source (TCS)?
Tax Collected at Source (TCS) is an income tax collected on all foreign exchange transactions falling under the Liberalised Remittance scheme (LRS) given in the Section 206C of the Income Tax Act 1961.
2. What is the effective date of applicability of the TCS on foreign remittances under LRS?
TCS on foreign exchange transactions under LRS is effective on any remittance transaction under LRS on or after 1st October 2020.
3. What are the different purposes on which the tax collection is applicable?
The tax will be applicable on all foreign exchange transactions that fall under the LRS of RBI.
4. What does new added sections, 206AB and 20CCA entail?
Two new sections 206AB and 206CCA sections mandate tax deduction (section 206AB) or tax collection (section 206CCA) at higher rate in case of certain non-filers (specified persons) with respect to tax deductions and tax collections w.e.f. 1st July 2021. Higher rate is twice the prescribed rate or 5%, whichever is higher.
5. Who is a specified person as per, 206AB and 20CCA sections?
According to new sections 206AB and 206CCA a specified person is someone who necessarily fulfils both the below criterion w.e.f. 1st July 2021:
• Person who has not filed the returns of income for both of the two assessment years relevant to the two previous years immediately before the previous year in which tax is required to be deducted / collected. Two previous years to be counted are required to be those whose return filing date has expired.
• Aggregate of tax deducted at source and tax collected at source is rupees fifty thousand or more in each of these two previous years.
6. What all transactions will be impacted by this TCS provision?
All remittances more than INR 7 lakh in a financial year done under LRS will be liable for TCS as per below table w.e.f. 1st July 2021:
| Category | TCS Rate (Specified person – No) |
TCS Rate (Specified person – Yes) |
|---|---|---|
| Remittance under LRS | 5.00% | 10.00% |
| Remittance under Education Loan | 0.50% | 5.00% |
Below transactions are under the purview of TCS applicability –
• Foreign Exchange transactions under LRS purpose through IndusInd Bank branch or IndusForex.
• Foreign Currency Demand Draft or Cash issuance from domestic resident account under LRS purpose.
• Forex Card purchase and Reloading under LRS purpose through IndusInd Bank branch or IndusForex.
• International transactions, on Debit cards transactions (including transactions done on Foreign Merchants).
7. What is the new tax implication on remittances for pursuing overseas education?
The TCS at 0.5% shall be applicable on the amount exceeding INR 7,00,000 in a financial year under LRS for non-Specified person, if the amount remitted is obtained out of a loan from a Financial Institution for pursuing education. For specified person, the TCS at 5% shall be applicable w.e.f 1st July 2021 for above case.
For this purpose, ‘Financial Institution’ means a banking company to which the Banking Regulation Act, 1949 applies (including any bank or banking institution referred to in section 51 of that Act); or any other financial institution which the Central Government may, by notification in the Official Gazette, specify in this behalf.
In cases where the amount being sent through outward remittance is out of a loan obtained from any financial institution as defined in section 80E for the purpose of pursuing higher education. A financial institution under section 80E refers to any bank operating as per the Banking Regulation Act, 1949 and is in the capacity to provide such a service
E.g. If the total amount remitted under LRS in a financial year is INR 8,00,000 for pursuing overseas education, TCS at 0.5% will be applicable on INR 1,00,000 (INR 8,00,000 - INR 7,00,000).
E.g. If there are multiple remittance of say three transactions of 10 lakhs each, where 1st and 3rd transactions are regular LRS and 2nd one is the Education remittance through Educational Loan, then only that 2nd transaction will be charged at 0.50%
8. What is the tax implication if the amount remitted for pursuing education abroad is from owned funds or out of loans from Non-specified institutions/private parties?
The TCS at 5% shall be applicable on remittances exceeding INR 7 lakhs in a financial year for non-Specified person and at 10% for specified person w.e.f. 1st July 2021.
9. What is the tax implication of remittances for the purchase of overseas tour program package under LRS?
The TCS at 5% will be applicable on the total amount remitted for non-Specified person and 10% for specified person w.e.f from 1st July. The tour operator will collect the TCS on the entire amount irrespective of its value. Bank will not be collecting anything from the Tour operator and it’s Tour Operator’s responsibility to remit the TCS to GOI. For instance, if the amount remitted is INR 2,00,000, the TCS will be applicable on entire INR 2,00,000.
10. Which transactions are included in the threshold limit of INR 7 lakhs, above which the TCS shall be applicable?
All forex transactions under LRS will be included in threshold limit of INR 7 lakhs. However, there is no monetary threshold prescribed for overseas remittance through our program package and the tour operator will collect the TCS on the entire amount irrespective of its value.
11. How threshold limit of INR 7 lakhs would be computed for FY 2020-21?
The TCS on all forex transactions under LRS shall be applicable from 1st October, 2020. However, for tracking the threshold limit of INR 7 lakhs, all forex transactions under LRS made from 1st April, 2021 onwards would be considered for FY 2021-22.
12. Will the TCS be applicable if the foreign exchange facility is availed in Cash / Forex cards?
Yes, TCS will be applied on LRS transactions exceeding INR 7 lakhs if foreign exchange facility is availed of through FCY Cash withdrawal at branches / loading Forex cards, provided the purpose of transaction falls under LRS.
13. What is the applicable TCS if PAN /AADHAR is not updated on Bank's records?
It is mandatory for the resident individual to provide his/her Permanent Account Number (PAN) for all transactions under LRS.
14. Will GST be applied on the TCS amount?
No GST will be applicable on the tax collected as TCS. However, GST will be applicable on the currency conversion, remittance service charge and other charges.
15. If remitter/ customer can avail tax credit of the TCS?
Yes, the remitter / customer can claim credit for the tax collected by the bank while filing for their tax returns as the TCS is deemed to be a payment of tax on behalf of the person from whom the amount has been collected. The said TCS remittance from the Bank’s side will reflect in Form 26AS of the PAN Card holder
16. What if the tour package/educational program etc. is subsequently cancelled or not persuaded?
The bank will not refund the TCS collected by it and paid to Government. However, the credit for the same shall be available to the remitter/customer and they can claim refund by filing income tax returns.
For any further assistance, please contact your Relationship Manager or your nearest branch
17. When was Tax Collected at Source (TCS) introduced?
TCS was introduced in Union Budget in 2020 and was to be applicable from April 1, 2020. However, this was deferred due to on-going COVID-19 pandemic. It came into effect from October 1, 2020. Remittances executed before the effective date was not be part of TCS.
18. Purposes covered under TCS?
All purposes which form part of Liberalized Remittance Scheme (LRS) will be covered under TCS. For example, purposes like maintenance of relatives abroad, gift, education, medical treatment, overseas investments in property and stocks, emigration will come under the tax bracket
19. What is the TCS Rate?
For non-Specified persons, with PAN card linked to Aadhaar, it is 5% of the amount remitted in excess of INR 7,00,000 in a financial year. For Specified persons, with PAN card linked to Aadhaar, it is 10% of the amount remitted in excess of INR 7,00,000 in a financial year. Without PAN card, rate will be 10% & 20% for non-Specified & Specified persons respectively w.e.f. 1st July 2021.
20. Who has the authority to collect tax?
- Authorized Dealer (AD) i.e. Bank who will be remitting money on behalf of remitter will collect the tax and will in turn pay it to the Government
- AD – II players will collect the tax and will in turn pay it to the Government
- Tour Operator will have to collect tax for foreign tours arranged by them and handle TCS on their own before sending net amount for remittance abroad.
21. Are there any exemptions?
- Remittances below INR 7,00,000 in a financial year are exempted from TCS
- Payments for foreign education made from obtaining an education loan from a financial institution in India are subject to 0.50% TCS
- If the remitter books foreign tour on his/her own, it will not be subject to TCS
22. Is TCS applicable on tax paid income?
The TCS can be set off against the overall liability of the tax payer. If parent has already paid tax on the money in question as his or her income and is simply gifting the same to the child, the parent can claim a refund from the TCS
23. Is the customer eligible for any tax rebate?
TCS paid can be adjusted against tax payable when individuals who would have paid TCS file income tax returns (ITR) in India. Please consult your tax advisor/consultant for further information.
24. In case of return of transactions post debit from the account, will the TCS get refunded back?
Please note TCS once deducted cannot be refunded by the bank in case of any return of transaction/remittances. Remitter can approach for refund from tax authority while filing Income Tax Returns or consult with tax advisor for refund/adjustment.
25. Is TCS applicable to NRE / NRO / FCNR Repatriation?
TCS is not applicable on NRE / NRO / FCNR repatriations.
26. The aggregate amount of remittance made by customer during the financial year is INR 500,000. Whether TCS applicable to this customer?
No, since the aggregate amount of remittance made during the financial year is less than INR 700,000, TCS is not applicable to this customer. Further, Aggregate amount refers only to the transactions which are executed directly basis the Individual customers request and only by IndusInd Bank and refers to the cumulative of all Forex transactions be it Branch, Online portal or International debit cards and it includes charges, GST and FCCT GST
27. The aggregate amount of remittance made by customer during the financial year is INR 1,000,000. Whether TCS applicable to this customer?
Yes, since the aggregate amount of remittance made during the financial year is more than INR 700,000, TCS is applicable to this customer. In such case TCS will be applicable @5% on INR 300,000 (on amount exceeding INR 700,000) for non-Specified persons & @10% for specified persons w.e.f. 1st July 2021.
28. The aggregate amount of remittance made by customer up to 30th June 2021 is INR 500,000 and from 1st July 2021 to 31 March 2022 is INR 500,000. Whether TCS applicable to this customer?
Yes, since the aggregate amount of remittance made during the financial year is more than INR 700,000, TCS is applicable to this customer. In such case TCS will be applicable @ 5% on INR 300,000 (on amount exceeding INR 700,000) for non-Specified persons & @10% for specified persons w.e.f. 1st July 2021.
29. The aggregate amount of remittance made by a Specified person up to 30th June 2021 is INR 1,000,000 and from 1st July 2021 to 31 March 2022 is INR 500,000. Whether 10% TCS applicable to this customer?
Yes, since the aggregate amount of remittance made during the financial year is more than INR 700,000, TCS is applicable to this Specific person. In this case TCS will be applicable @ 10% on INR 500,000 w.e.f. 1st July 2021.
30. The aggregate amount of remittance made by a Specified person up to 30th June 2021 is INR 1,000,000. He paid 5% TCS on previous transaction. Whether his residual 5% TCS will be added in his next transaction?
No, in this case TCS would apply, @ 10% only, on every amount remitted on any transaction afterwards for FY 2021-22.
31. A Specified person Mr A has made remittance of USD 20,000 towards education fees out of India out of his loan borrowed from Scheduled Bank (qualified loan under Indian Income Tax Act) after 1st July 2021. Is TCS applicable to this customer and at what rate?
Yes. In this case, since the amount of remittance is INR 14,80,000 (USD 20,000*INR 74) and made toward pursuing education out of India out of loan qualified under the Indian Income Tax Act, TCS @ 10% would apply on the amount exceeding INR 700,000. It is assumed this is the 1st transaction under the PAN Number in the FY 21-22.
32. Customer, the US embassy in India, has made remittance of USD 20,000 for official purpose to USA. Is TCS applicable to this customer?
No. TCS is applicable on remittances made by an embassy, a High Commission, a legation, a commission, a consulate, the trade representation of a foreign State etc.
• Here is the Govt. of India notification on application of TCS w.e.f. 1st October 2020. Click Here
• Here is the Govt. of India notification on application of section 206AB and 206CCA w.e.f. 1st July 2021. Click Here
Investor, who has remitted funds under LRS can retain, reinvest the income earned on the investments. The received/realised/unspent/unused foreign exchange, unless reinvested, shall be repatriated and surrendered to an authorised person within a period of 180 days from the date of such receipt/ realisation/ purchase/ acquisition or date of return to India, as the case may be, in accordance with Regulation 7 of Foreign Exchange Management (Realisation, repatriation and surrender of foreign exchange) Regulations, 2015 [Notification No. FEMA 9(R)/2015-RB]13.
However, a resident individual who has made overseas direct investment in accordance with FEMA provisions, shall have to comply with the provisions contained in Foreign Exchange Management (Overseas Investment) Rules, 2022, Foreign Exchange Management (Overseas Investment) Regulations, 2022 and Foreign Exchange Management (Overseas Investment) Directions, 2022.
Business Cards
Vṛddhi Business Card
These offers are brought to you by Visa and comprise of shopping and Business privileges. For details, please visit www.indusind.com
As an IndusInd Bank Visa Contactless Business Cardholder, you are entitled to all the discounts and privileges offered under the Visa Program. However, you need to specifically ask the Visa partner for the offer to avail the same. You have the choice to make transactions at Visa Program Partner outlets without availing the offers.
No. The offers made under the Visa Program cannot be clubbed with any other offer/ scheme or promotion that any of the Program Partners may extend to its customers.
- Immediately call IndusInd Bank 24-Hour Phone Banking Number 1860 267 7777 and report the loss / theft of your Card
- File a Police Report (First Information Report - FIR) for the lost/stolen Business Card and send us a copy of the attested FIR
- Send the bank a signed letter confirming the loss of your card along with a description of the incident
- Statement highlighting the transaction that you have not authorized, if any.
- Completed Customer Dispute Form
You need to submit the following documents to IndusInd Bank:
- Duly filled All Risk Claim Form
- Customer Dispute Form
- Billing Statement
- Attested FIR
An EMV Chip & PIN Business Card is a Business Card with an embedded microchip. This microchip stores the Card member information and the PIN in an encrypted format. This PIN is known only to the Cardholder thus providing enhanced security against possible misuse. The EMV Chip & PIN is a superior level of security on your Business Card, in line with best global practices. It thus provides an additional layer of safety against counterfeit and skimming related fraud.
When you use an EMV Chip & PIN Business Card at a POS terminal which is enabled for PIN Transactions, the POS machine will prompt you to enter a 4-digit PIN. Once you enter the correct Business Card PIN in the terminal, your transaction will be approved.
Please follow the below process for a successful transaction:
- Step1: The merchant inserts your Business Card in the Card slot at a PIN enabled POS terminal and enters the transaction amount
- Step 2: The POS machine prompts for a 4-digit PIN to be entered by the Cardholder.
- Step 3: On entering the correct Business Card PIN in the machine, the transaction is approved.
At POS terminals, which do not support the PIN authentication, your EMV Chip Business Card needs to be inserted in the Chip slot and your transaction will be completed as it is done today.
At POS terminals, which do not support an EMV Chip Business Card, the Card can be swiped at the merchant terminal and your transaction will be completed as it is done today.
If the POS terminal (Domestic or International) is enabled for PIN authentication, you will be asked to enter your PIN for successful completion of your transaction.
You will be given 3 attempts to enter the correct PIN, post which your PIN will be blocked and your transaction will get declined.
If you have forgotten your PIN, please request for a new PIN at our helpline number 1860 267 7777 or generate it instantly on our website www.indusind.com under Quick Links>Credit Card Related>Generate Credit Card PIN
At the time of issue of your EMV Chip & PIN Business Card, the PIN will be dispatched to you separately at your registered mailing address. Alternatively, you can generate PIN through Interactive Voice Response (IVR) on our helpline number 1860 267 7777 or on our website www.indusind.com under Quick Links>Credit Card Related>Generate Credit Card
Please use this PIN at POS terminals to complete your transactions.
No, the Business Card and the PIN will be dispatched to you separately at your registered mailing address on placing a request for a physical PIN by calling our helpline number 1860 267 7777.
Alternately, you can generate PIN through Interactive Voice Response (IVR) on our helpline number 1860 267 7777 or on our website www.indusind.com under Quick Links>Credit Card Related>Generate Credit Card
You have the following options to reset your PIN:
- Option 1: You can set a new PIN instantly on our website www.indusind.com under Quick Links>Credit Card Related>Generate Credit Card PIN.
- Option 2: You can also place a request to dispatch the PIN at your mailing address by calling our helpline number 1860 267 7777.
- Option 3: You can generate a new PIN on our automated Interactive Voice Response System (IVR) by calling 1860 267 7777.
Yes. IndusInd Bank EMV Business Cards can be used at any merchants around the world where your Business Card is accepted today.
Transactions made online or over the phone with your IndusInd Bank Business EMV Chip and PIN Card would continue to be conducted in the same way as with Cards without a Chip. Online transactions may be conducted using IBL e-Secure/Verified by Visa (VBV) password or the One Time Password (OTP) authentication for transactions. You can also conduct transactions over the IVR/telephone using the OTP.
A compromise of your card means the card information has been copied and a fraudster is trying to access your account. As of now, we have not observed any compromise of a chip Business Card as the security chip makes it difficult to copy the Business Card details. This would be possible only if you continue to swipe the magnetic stripe of your IndusInd Bank EMV Business Card at a merchant terminal instead of inserting the chip card to complete your transaction.
Most of the merchants have chip-enabled terminals. In case the merchant doesn’t have chip enabled terminal, the card can be swiped for transactions.
All payments are to be made in Indian Rupees only. You can make payments towards your Card usage through any of the following options:
- Using the "Swift Pay" option or the Credit Card Quick Pay option on www.indusind.com to pay from any bank account
- Online Funds transfer from a non-IndusInd Bank account using NEFT/RTGS/Visa Money Transfer facility
- Cheque/Draft favouring IndusInd Bank Credit Card No. XXXXXXXXXXXXXXXX deposited at IndusInd Bank Branches/ATMs. You are advised to drop cheques at least 4 working days prior to the payment due date to ensure timely credit to your Card account and avoid levy of penal charges. Please mention your mobile number on the reverse of the cheque, we shall send you an SMS on receipt of your cheque.
- Cash deposit at IndusInd Bank branches.
- By activating Auto Payment Facility on your IndusInd Bank account or through NACH facility on your non IndusInd Bank account. Contact Phone Banking for more details.
Payment received against card outstanding will be adjusted against all EMIs, Taxes, Fees, Other charges, Interest Charges, Cash Advance and Purchase, in that order.
Interest charges are levied if Total Amount Due is not paid off by due date and Late Payment charges are applicable if the minimum due amount is not paid by the due date. The minimum amount due for a Business Card is 10% of the Total Amount Due. Over limit charges are applicable if the total outstanding dues on the credit card exceeds the assigned credit limit.
The grace period is only available on retail transactions if there is no outstanding amount payable on the Credit Card. In case your previous credit card bill is due, all fresh purchases will attract interest from the date of purchase.
The IndusInd Bank EMV Business Card should withstand normal wear & tear and the chip should last as long as the card is valid. However, you should take steps to ensure your card is protected to ensure longevity.
Please report the loss to us immediately on 1860 267 7777 / +91 22 4220 7777 and our Phone Banking officers will block your Business Card immediately.
Near Field Communication or NFC is a method of wirelessly transmitting data using radio waves. Tap to Pay uses NFC to wirelessly transmit payment data to payment terminals with NFC readers that have been activated for use. The payment information is transmitted in an encrypted format making the transaction completely secure.
You can follow the below steps to make payments with your Contactless Card:
Look for the Visa Contactless logo at the POS machine
Tap your Contactless Card at the POS machine (the card should be held at less than 4 cm from the POS machine).
Four green indicator lights or a beep sound will indicate that the transaction is complete. A message will also be displayed on the screen indicating the transaction is complete. You will receive an SMS on your registered mobile number with the details of the transaction. No PIN is required for transaction amount of less than ₹5000* (*Subject to change as per RBI guidelines).
You can make faster payments as there is no need for dipping, swiping, entering card PIN or fumbling for cash.
During a contactless transaction, the card never leaves your hand. This greatly reduces the risk of card loss and fraud through counterfeit/skimming.
A Visa Contactless Card has its own, unique, built-in, secret key, which is used to generate a unique code for every Visa Contactless transaction, thus making it more secure.
Yes, there is a daily limit of 5 contactless transactions, which means payments through contactless mode is allowed for maximum amount of ₹25,000 in a day, with maximum capping of every transaction at ₹5000. For any transaction of amount more than ₹5,000, you would have to dip or swipe your credit card and enter the 4-digit PIN to authenticate the transaction.
You can make payments through the contactless mode at all the merchants having NFC enabled POS machines. Just look for the contactless symbol at the POS machine to make the contactless payments. You can also use your Contactless Card to make payments by swiping/dipping your card & entering the 4-digit PIN at the merchants.
Yes, for the merchants that not enabled for contactless payments, you can use transact by swiping or dipping your card & entering the 4-digit PIN.
No, contactless POS machine communicates with one card at a time. In case at the merchant outlet, the POS machine identifies more than one contactless card in your wallet or purse, you will be asked to select the card with which you would like to pay.
No, your card should be present within 4 cm of the POS machine for more than half a second and the retailer must enter the transaction amount for you to approve. Also, the POS machines can process only one transaction at a time, therefore reducing transaction errors.
Yes, Businesses are eligible for Reward points on each and every transaction done through their Business cards on both online and offline mode.
Sāarthi Business Card
These offers are brought to you by Visa and comprise of shopping and Business privileges. For details, please visit www.indusind.com
As an IndusInd Bank Visa Contactless Business Cardholder, you are entitled to all the discounts and privileges offered under the Visa Program. However, you need to specifically ask the Visa partner for the offer to avail the same. You have the choice to make transactions at Visa Program Partner outlets without availing the offers.
No. The offers made under the Visa Program cannot be clubbed with any other offer/ scheme or promotion that any of the Program Partners may extend to its customers.
- Immediately call IndusInd Bank 24-Hour Phone Banking Number 1860 267 7777 and report the loss / theft of your Card
- File a Police Report (First Information Report - FIR) for the lost/stolen Business Card and send us a copy of the attested FIR
- Send the bank a signed letter confirming the loss of your card along with a description of the incident
- Statement highlighting the transaction that you have not authorized, if any.
- Completed Customer Dispute Form
You need to submit the following documents to IndusInd Bank:
- Duly filled All Risk Claim Form
- Customer Dispute Form
- Billing Statement
- Attested FIR
An EMV Chip & PIN Business Card is a Business Card with an embedded microchip. This microchip stores the Card member information and the PIN in an encrypted format. This PIN is known only to the Cardholder thus providing enhanced security against possible misuse. The EMV Chip & PIN is a superior level of security on your Business Card, in line with best global practices. It thus provides an additional layer of safety against counterfeit and skimming related fraud.
When you use an EMV Chip & PIN Business Card at a POS terminal which is enabled for PIN Transactions, the POS machine will prompt you to enter a 4-digit PIN. Once you enter the correct Business Card PIN in the terminal, your transaction will be approved.
Please follow the below process for a successful transaction:
- Step1: The merchant inserts your Business Card in the Card slot at a PIN enabled POS terminal and enters the transaction amount
- Step 2: The POS machine prompts for a 4-digit PIN to be entered by the Cardholder.
- Step 3: On entering the correct Business Card PIN in the machine, the transaction is approved.
At POS terminals, which do not support the PIN authentication, your EMV Chip Business Card needs to be inserted in the Chip slot and your transaction will be completed as it is done today.
At POS terminals, which do not support an EMV Chip Business Card, the Card can be swiped at the merchant terminal and your transaction will be completed as it is done today.
If the POS terminal (Domestic or International) is enabled for PIN authentication, you will be asked to enter your PIN for successful completion of your transaction.
You will be given 3 attempts to enter the correct PIN, post which your PIN will be blocked and your transaction will get declined.
If you have forgotten your PIN, please request for a new PIN at our helpline number 1860 267 7777 or generate it instantly on our website www.indusind.com under Quick Links>Credit Card Related>Generate Credit Card PIN
At the time of issue of your EMV Chip & PIN Business Card, the PIN will be dispatched to you separately at your registered mailing address. Alternatively, you can generate PIN through Interactive Voice Response (IVR) on our helpline number 1860 267 7777 or on our website www.indusind.com under Quick Links>Credit Card Related>Generate Credit Card
Please use this PIN at POS terminals to complete your transactions.
No, the Business Card and the PIN will be dispatched to you separately at your registered mailing address on placing a request for a physical PIN by calling our helpline number 1860 267 7777.
Alternately, you can generate PIN through Interactive Voice Response (IVR) on our helpline number 1860 267 7777 or on our website www.indusind.com under Quick Links>Credit Card Related>Generate Credit Card
You have the following options to reset your PIN:
- Option 1: You can set a new PIN instantly on our website www.indusind.com under Quick Links>Credit Card Related>Generate Credit Card PIN.
- Option 2: You can also place a request to dispatch the PIN at your mailing address by calling our helpline number 1860 267 7777.
- Option 3: You can generate a new PIN on our automated Interactive Voice Response System (IVR) by calling 1860 267 7777.
Yes. IndusInd Bank EMV Business Cards can be used at any merchants around the world where your Business Card is accepted today.
Transactions made online or over the phone with your IndusInd Bank Business EMV Chip and PIN Card would continue to be conducted in the same way as with Cards without a Chip. Online transactions may be conducted using IBL e-Secure/Verified by Visa (VBV) password or the One Time Password (OTP) authentication for transactions. You can also conduct transactions over the IVR/telephone using the OTP.
A compromise of your card means the card information has been copied and a fraudster is trying to access your account. As of now, we have not observed any compromise of a chip Business Card as the security chip makes it difficult to copy the Business Card details. This would be possible only if you continue to swipe the magnetic stripe of your IndusInd Bank EMV Business Card at a merchant terminal instead of inserting the chip card to complete your transaction.
Most of the merchants have chip-enabled terminals. In case the merchant doesn’t have chip enabled terminal, the card can be swiped for transactions.
All payments are to be made in Indian Rupees only. You can make payments towards your Card usage through any of the following options:
- Using the "Swift Pay" option or the Credit Card Quick Pay option on www.indusind.com to pay from any bank account
- Online Funds transfer from a non-IndusInd Bank account using NEFT/RTGS/Visa Money Transfer facility
- Cheque/Draft favouring IndusInd Bank Credit Card No. XXXXXXXXXXXXXXXX deposited at IndusInd Bank Branches/ATMs. You are advised to drop cheques at least 4 working days prior to the payment due date to ensure timely credit to your Card account and avoid levy of penal charges. Please mention your mobile number on the reverse of the cheque, we shall send you an SMS on receipt of your cheque.
- Cash deposit at IndusInd Bank branches.
- By activating Auto Payment Facility on your IndusInd Bank account or through NACH facility on your non IndusInd Bank account. Contact Phone Banking for more details.
Payment received against card outstanding will be adjusted against all EMIs, Taxes, Fees, Other charges, Interest Charges, Cash Advance and Purchase, in that order.
Interest charges are levied if Total Amount Due is not paid off by due date and Late Payment charges are applicable if the minimum due amount is not paid by the due date. The minimum amount due for a Business Card is 10% of the Total Amount Due. Over limit charges are applicable if the total outstanding dues on the credit card exceeds the assigned credit limit.
The grace period is only available on retail transactions if there is no outstanding amount payable on the Credit Card. In case your previous credit card bill is due, all fresh purchases will attract interest from the date of purchase.
The IndusInd Bank EMV Business Card should withstand normal wear & tear and the chip should last as long as the card is valid. However, you should take steps to ensure your card is protected to ensure longevity.
Please report the loss to us immediately on 1860 267 7777 / +91 22 4220 7777 and our Phone Banking officers will block your Business Card immediately.
Near Field Communication or NFC is a method of wirelessly transmitting data using radio waves. Tap to Pay uses NFC to wirelessly transmit payment data to payment terminals with NFC readers that have been activated for use. The payment information is transmitted in an encrypted format making the transaction completely secure.
You can follow the below steps to make payments with your Contactless Card:
Look for the Visa Contactless logo at the POS machine
Tap your Contactless Card at the POS machine (the card should be held at less than 4 cm from the POS machine).
Four green indicator lights or a beep sound will indicate that the transaction is complete. A message will also be displayed on the screen indicating the transaction is complete. You will receive an SMS on your registered mobile number with the details of the transaction. No PIN is required for transaction amount of less than ₹5000* (*Subject to change as per RBI guidelines).
You can make faster payments as there is no need for dipping, swiping, entering card PIN or fumbling for cash.
During a contactless transaction, the card never leaves your hand. This greatly reduces the risk of card loss and fraud through counterfeit/skimming.
A Visa Contactless Card has its own, unique, built-in, secret key, which is used to generate a unique code for every Visa Contactless transaction, thus making it more secure.
Yes, there is a daily limit of 5 contactless transactions, which means payments through contactless mode is allowed for maximum amount of ₹25,000 in a day, with maximum capping of every transaction at ₹5000. For any transaction of amount more than ₹5,000, you would have to dip or swipe your credit card and enter the 4-digit PIN to authenticate the transaction.
You can make payments through the contactless mode at all the merchants having NFC enabled POS machines. Just look for the contactless symbol at the POS machine to make the contactless payments. You can also use your Contactless Card to make payments by swiping/dipping your card & entering the 4-digit PIN at the merchants.
Yes, for the merchants that not enabled for contactless payments, you can use transact by swiping or dipping your card & entering the 4-digit PIN.
No, contactless POS machine communicates with one card at a time. In case at the merchant outlet, the POS machine identifies more than one contactless card in your wallet or purse, you will be asked to select the card with which you would like to pay.
No, your card should be present within 4 cm of the POS machine for more than half a second and the retailer must enter the transaction amount for you to approve. Also, the POS machines can process only one transaction at a time, therefore reducing transaction errors.
Yes, Businesses are eligible for Reward points on each and every transaction done through their Business cards on both online and offline mode.
Investments
Sovereign Gold Bonds
SGBs are government securities denominated in grams of gold. The Bond is issued by Reserve Bank on behalf of Government of India.
The quantity of gold for which you pays is protected, since you receive the ongoing market price at the time of redemption/ premature redemption. The SGB offers a superior alternative to holding gold in physical form. The risks and costs of storage are eliminated. You are assured of the market value of gold at the time of maturity and periodical interest. SGB is free from issues like making charges and purity in the case of gold in jewellery form. The bonds are held in the books of the RBI or in demat form eliminating risk of loss of scrip etc.
There may be a risk of capital loss if the market price of gold declines. However, you don't lose in terms of the units of gold which paid for.
Persons resident in India as defined under Foreign Exchange Management Act, 1999 are eligible to invest in SGB. Eligible investors include individuals, HUFs, trusts, universities, charitable institutions, etc.
Yes, joint holding is allowed.
Yes. The application on behalf of the minor has to be made by his/her guardian.
The application form will be available at all IndusInd Branches. You can locate your nearest branch by clicking ‘Locate Us’ under Reach Us tab.
Every application must be accompanied by the ‘PAN Number’ issued by the Income Tax Department to the investor(s).
The Bonds are issued in denominations of one gram of gold and in multiples thereof. Minimum investment in the Bond shall be one gram with a maximum limit of subscription of 4 kg for individuals, 4 kg for Hindu Undivided Family (HUF) and 20 kg for trusts and similar entities notified by the government from time to time per fiscal year (April – March). In case of joint holding, the limit applies to the first applicant. The annual ceiling will include bonds subscribed under different tranches during initial issuance by Government and those purchased from the secondary market. The ceiling on investment will not include the holdings as collateral by banks and other Financial Institutions.
Yes, each family member can buy the bonds in his/her own name if they satisfy the eligibility criteria as defined at Q No.4.
Yes. One can buy 4 KG worth of gold every year as the ceiling has been fixed on a fiscal year (April-March) basis.
The limit of 4 kg per financial year is applicable even if the bond is bought on the exchanges.
The Bonds bear interest at the rate of 2.50 per cent (fixed rate) per annum on the amount of initial investment. Interest will be credited semi-annually to your bank account as mentioned during subscription and the last interest will be payable on maturity along with the principal.
If you meets the eligibility criteria, produce a valid identification document and remit the application money on time, you will receive the allotment.
The customers will be issued Certificate of Holding on the date of issuance of the SGB. Certificate of Holding can be collected from the issuing banks/Post Offices/agents or obtained directly from RBI on email, if email address is provided in the application form.
Yes. A customer can apply online through IndusNet.
The nominal value of Gold Bonds shall be in Indian Rupees fixed on the basis of simple average of closing price of gold of 999 purity, published by the India Bullion and Jewelers Association Limited, for the last 3 business days of the week preceding the subscription period. The subscription price can be known from the applying branch or through the IndusNet platform.
The price of gold for the relevant tranche will be published on RBI website two days before the issue opens.
On maturity, the redemption proceeds will be equivalent to the prevailing market value of grams of gold originally invested in Indian Rupees. The redemption price will be based on simple average of previous week’s (Monday-Friday) price of closing gold price for 999 purity published by the IBJA.
Both interest and redemption proceeds will be credited to the bank account furnished in your application form at the time of buying the bond.
- The investor will be advised one month before maturity regarding the ensuing maturity of the bond.
- On the date of maturity, the maturity proceeds will be credited to the bank account as per the details on record.
- In case there are changes in any details, such as, account number, email ids, you must intimate the bank.
Though the tenor of the bond is 8 years, early encashment/redemption of the bond is allowed after fifth year from the date of issue on coupon payment dates. The bond will be tradable on Exchanges, if held in demat form. It can also be transferred to any other eligible investor
In case of premature redemption, you can approach your branch thirty days before the coupon payment date. Request for premature redemption can only be entertained if the investor approaches the branch at least one day before the coupon payment date. The proceeds will be credited to the customer’s bank account provided at the time of applying for the bond
The bond can be gifted/transferable to a relative/friend/anybody who fulfills the eligibility criteria (as mentioned at Q.no. 4). The Bonds shall be transferable in accordance with the provisions of the Government Securities Act 2006 and the Government Securities Regulations 2007 before maturity by execution of an instrument of transfer which is available with the issuing agents
Yes, these securities are eligible to be used as collateral for loans from banks, financial Institutions and Non-Banking Financial Companies (NBFC). The Loan to Value ratio will be the same as applicable to ordinary gold loan prescribed by RBI from time to time.
Interest on the Bonds will be taxable as per the provisions of the Income-tax Act, 1961 (43 of 1961). The capital gains tax arising on redemption of SGB to an individual has been exempted. The indexation benefits will be provided to long terms capital gains arising to any person on transfer of bond.
TDS is not applicable on the bond. However, it is the responsibility of the bond holder to comply with the tax laws.
All services such as change of address, early redemption, nomination, grievance redressal, transfer applications etc. will be provided by your branch subject to SGB being purchased using IndusInd Bank’s network.
Payment can be made through cash (upto Rs. 20000)/cheques/ electronic fund transfer.
Yes, nomination facility is available as per the provisions of the Government Securities Act 2006 and Government Securities Regulations, 2007. A nomination form will be available along with Application form at the branch. Additionally, cancellation of nomination facility is also available & can be submitted to the branch.
The maximum limit will be applicable to the first applicant in case of a joint holding for that specific application.
Yes. The bonds can be held in demat account. A specific request for the same must be made in the application form itself. Till the process of dematerialization is completed, the bonds will be held in RBI’s books. The facility for conversion to demat will also be available subsequent to allotment of the bond. Please note that the number on the application form should exactly match the name in the demat form else the form may get rejected.
The bonds are tradable from a date to be notified by RBI. (It may be noted that only bonds held in demat form with depositories can be traded in stock exchanges) The bonds can also be sold and transferred as per provisions of Government Securities Act, 2006
Yes, part holdings can be redeemed in multiples of one gm.
Deposits
Recurring Deposit
Please call up the THOMAS COOK Help line 1800 266 7500 for enrollment.
Ideally, there won’t be any such flexibility on the same, but will be evaluated on a case to case basis, but the customer will have to pay any extra charges that might come up, since the original contract is not adhered to.
No. There is no penalty. We want the customer to enjoy the benefits at his / her will.
We are evaluating a possibility to offer either 15th Month or 18th month as the last date to travel at the committed rates for the selected package.
Ideally, not possible, but if the customer is willing to pay the additional charges that might apply due to change of plan, we will consider it on a case to case basis.
Customer gets a welcome kit, which will have the booking form and all the product benefits and the holiday packages that the customer can select.
We will have a constant SMS / Email communication plan which will keep the customer updated on what one stands to get and create excitement about the holiday he / she is looking forward to.
Changing the package / plan might lead to change in the package rates, but if the customer is willing to pay for additional charges, if any, then one can make the changes.
Yes , Minor can apply on his own if age is greater than 10 years . Younger minor can apply jointly with the guardian.
You will get 0.5 % additional interest rate on your RD account that is opened with the bank, which contributes towards paying the cost of your holiday.
Bank FAQs for the RD Account
A monthly deposit of a pre-fixed amount is made in the Recurring Deposit account. On maturity, you get back the amount you deposited, along with interest calculated at the rate applicable at the time of opening your account.
Yes, you can open a Recurring Deposit in a joint name.
The first applicant can be a minor. If the minor is above the age of 10 he /she can operate the account independently, for minors of age less than 10 years the account will be opened under guardianship of natural guardian
Premature withdrawals are allowed, but remember that no partial withdrawal is permitted.
There is a penalty of Rs 1.50 per Rs 1000 per month which is levied on unpaid installments. If six consecutive installments are unpaid, the Bank reserves the right to close the RD account. The interest rate applicable on such closed accounts will be as per the premature withdrawal policy of the Bank.
If you choose to close your RD account prematurely, the interest will be paid @adjusted rate. The adjusted interest rate calculation will be as follows: -
- The rate prevailing at the time of booking of the RD applicable for the period for which RD has run will be used as the reference rate.
- Premature penalty of 1% will be levied on the same as per policy.
- Reference rate minus the penalty will be the adjusted rate
- Interest will be paid on this adjusted rate.
Right now there is no overdraft facility for Recurring Deposits.
Partial payments are not possible.
If you wish to prematurely liquidate your Recurring Deposit. We request you to submit your Recurring Deposit advice or written instruction, duly signed by all account holders, at the branch for premature liquidation of your Recurring deposit.
Alternatively, you can liquidate your Recurring Deposits through NetBanking. This facility will be available for Recurring Deposit held under "Sole Owner (SOW)" relationship only and which are booked from Singly Owned Savings or Current Accounts.
Yes, there is a nomination facility on the Recurring Deposit account.
No. Interest is only paid when the Recurring Deposit account is closed, and on maturity.
No it is not possible to change the tenure and installment due date, (auto debit date). We request you to open a new Recurring Deposit with the desired due date and tenure.
The date of your monthly RD installment will depend on the date you opened your RD account.
Loans
Vehicle Loan
The Consumer Finance Division of the Bank is focussed on making credit available for all major vehicle loan categories ranging from a two wheeler to heavy earth movers or even tractors and farm equipment. We also specialise in affordable home loan financing. The CFD wing of the Bank is headquartered in Chennai and has significant presence in major geographies within the country.
We provide a range of flexible and easy financing options including but not limited to the following categories: New and pre-owned cars, two wheelers, construction equipment, new and pre-owned commercial vehicles in the small, medium, light and heavy segments, tractors and other farm equipment and home loans that are categorised as ‘affordable’ by the Bank.
There are 5 easy ways by which you can approach IndusInd Bank for a loan.
- Submit your enquiry online. Click here to explore our products.
- Use our Phone Banking channel by calling 18001023333 or 04445455555 (Two Wheeler)
- Walk into any of our branches. Click here to locate the nearest branch.
- Email us your enquiry at reach4loan@indusind.com.
- Our executives are also stationed at various vehicle dealerships & Real Estate Establishments.
In case of a fixed rate loan, the rate of interest applicable on the loan remains the same over a period of time. Therefore fixed rate loans have a specific EMI that does not change due to market conditions. In case of a floating rate loan, the applicable interest varies periodically as per the decision of the bank based on the market conditions, thus the payable EMI on a floating rate loan may change from time to time.
Yes. IndusInd Bank offers loans for certain categories of used/previously owned/pre-owned vehicles like passenger cars, commercial vehicles etc. However, the loan would only cover the price of the car itself, other costs as transfer of registration, etc. will have to borne by you. Please go through the detailed terms for your specific desired vehicle. We also offer easy and affordable refinance options for your existing vehicle too. Please visit the respective product page for more details.
We have a host of easy to use online options that you can use from the comfort of your home via even your mobile or handheld device. We would encourage you to set up an eMandate using NPCI’s safe and secure eNACH to automate your EMI payments on pre-specified dates without any kind of intervention. For this and other online modes of payment, click on the Make Payments tab on the homepage to know more. You could set up a standing instruction (SI) or opt for electronic clearing services (ECS). Offline modes of payment are also available – you could remit cash or pay by cheque at any of our CFD branches across the country or sign up for a NACH facility by filling up the NACH form and submitting it at any of our branches.
Yes, you will be able to avail a loan without having a current or a savings account with us. But we would recommend that you switch to an IndusInd Bank savings or current account to avail our range of best-in-class services like customised account numbers, choice of currency at our ATMs and much more! Now with Video KYC and WhatsApp Banking facilities opening and operating your account is easier than ever before.
Once all the EMIs are paid, the Bank issues a computerised closure letter secured with a hologram, Form 35 and a No Objection Certificate (NOC) to the Road Transport Office (RTO), post which the Bank’s endorsement will be removed from the Registration Certificate (RC) book. A similar NOC is issued to the insurance company to remove lien from the policy as well, if applicable within 6 days from the date of paying the last EMI. Please note that Form 35 is valid for a period of 3 months from the date of issue. Any security post-dated cheques (PDC) provided during processing will also be returned back.
No. An NOC (no objection certificate) is required before you can sell the car/home/asset. You will have to completely repay the loan before selling the car/commercial vehicle/house or the asset in question. If the third party that is buying the vehicle can apply & secure a used car loan on the same vehicle, the loan can be transferred internally.
No. In normal course, there’s no need for any additional collateral since the vehicle is hypothecated to the Bank. In case of vehicle loans, an endorsement will have to be made in the Registration Certificate (RC) book of the vehicle. This will be cancelled after you repay the loan. Requirement of additional collateral will depend on case to case and the asset in question. In the case of affordable home loans, security of the loan would generally be in the form of registered mortgage on the property being financed by the Bank and/or any other interim security if need be. Please ensure that the title of the property is clear, marketable and free from encumbrance. The title of the property cannot be transferred or encumbered in any way whatsoever till such time you close the loan and receive a loan closure letter.
Accidents, Earthquake, flood, fire and other allied perils threaten the comfort and safety provided by your home and vehicle against which an insurance protects the asset concerned. In the event of any such eventuality, the cover provided by the insurance kicks in and the claim is paid directly to the Bank which uses the proceeds to close your loan account. Keeping your assets insured is a sound financial safety tool and we encourage you to continue to insure your assets. For all insurance options to secure your home please go to the Insurance tab under the personal banking section.
Yes. Insurance and registration of your vehicle can also be financed by IndusInd Bank, if you qualify under certain schemes. Please contact us for more details.
Yes. If your spouse is listed as a co-borrower, their income can also be included.
Dishonouring a cheque/ECS/NACH is a criminal offense and can attract penalties under relevant sections of law. Not paying your EMIs on time can classify you as a defaulter. Initially you may have to pay a penalty. If you fail to regularise your payments after repeated notifications, the Bank can legally repossess your vehicle. Further, your CIBIL/credit scores will also be adversely affected which can impair the chances of you securing a loan in the future. In addition, you will have to pay a bounce charge also for the return of the instrument. Please refer to our Schedule of Charges in for the quantum of such charge.
Please do keep your agreement number, self-attested ID proof handy for all requests. For specific requests like if you want change your address or contact details, please carry your new address proof along with a self-attested copy and a change request.
In case you wish to change the mode of repayment or the bank account for your loan repayment, please visit your nearest IndusInd Bank specialised branch and submit your request with the revised mandate or instructions for a nominal fees. Please check the schedule of charges for details. Please note that it takes 25 working days to activate the revised instructions. In case your next instalment falls due prior to this period, instructions already lodged with us will be presented for payment.
Don’t worry! Please visit your branch with a request to generate a duplicate NOC. Please produce a copy of FIR/written complaint with general diary number and your ID proof handy. This is a paid service. Please refer to our Schedule of Charges for details.
Don’t worry! Please visit your branch and request an NOC. Please keep a self-attested copy of the RC book and copy of FIR/written complaint with general diary number handy.
You can update your phone number, vehicle number, KYC details and much more through our WhatsApp Banking facility anytime, anywhere with just a few clicks. You could also visit any of our specialised CFD branches or call our 24x7 Toll Free PhoneBanking unit at 18001023333 or eMail us at reach4loan@indusind.com
Please visit any of our specialised branches and request a duplicate NOC/Form 35 by filling up the relevant form. Please keep a self-attested copy of the Registration Certificate (RC) book, original RC book for validation handy. This is a chargeable service. Please refer to our schedule of charges for quantum of charges.
A co-borrower is co-applicant who is liable for repayment irrespective of the performance of loan. Debtors default or defenses are not pertinent. Whereas, a guarantor is liable for repayment only when the debtor defaults and the Bank takes steps to recover the loan.
Yes. A customer copy is available in the loan agreement.
No. Since your loan is based on equated monthly repayment, there will not be any interest rebate and the excess amount will be treated as advance payment for the next EMI. Only in the event of foreclosure of the loan will you receive an interest rebate on future outstanding amount.
No, to hold the ACH repayment, you will have to give a written application to the specific branch, 7 days prior to due date. It is advisable that you pay the EMIs through ACH, so as to avoid additional charges on cash collection. Please refer to our schedule of charges for details.
Yes. You are free to remit the required funds into the account and request foreclosure of the loan account. Please note that this is a chargeable service. Please refer to our Schedule of charges for more information.
IndusInd Bank offers to car finance up to 90% of the car value. However, the final offering might vary depending on factors such as vehicle cost, credit parameters like customer profile (salaried/self-employed), income details, and the value in the second-hand market. Please go to the car loan page, click on apply now and enter your details. We will get back to you and collect your details for a customized offering.
The different tenure options available range from 1-5 years and can be extended up to 7 years depending on the discretion of the Bank. For used cars, the tenure can range from 1-4 years and can be extended up to 5 years.
Yes, a car loan can help you save on taxes only if you are a self-employed professional or a business owner and the car is being used for business purposes.
Zero percent financing is an offer provided by a few automobile manufacturers in collaboration with IndusInd Bank. Under this plan, the automobile manufacturer is responsible for paying back the interest on the car loan to the financier instead of the borrower. Thus, the borrower pays zero interest. The cost of zero financing car models is usually greater than the cost of car models that do not have this feature, since the manufacturer absorbs the interest load. Note that there are a few terms in case of zero financing options that are not usually applicable in case of a standard car loan. For example, the usual tenure of a zero financing loan ranges from 12 months to 15 months, hence your premium payments will be much higher than that in case of a standard car loan. Additionally, you often have to pay a much larger down payment amount as compared to the standard car loan.
A small commercial vehicle (SCV) refers to any three wheeler loading or goods carrier or four wheeler loading vehicle with a tonnage of upto 1,000 kilograms. IndusInd Bank finances most of the small commercial vehicle brands and models including both passenger and cargo vehicles available in the market today. IndusInd Bank offers easy and flexible financing options that make your SCV dreams a reality.
In keeping with the Bank’s philosophy to support the bottom of the pyramid and to enhance sustainable livelihoods to such families, IndusInd Bank runs our flagship Drive to Thrive program. As part of this program the Bank provides loans at preferential and attractive rates of interest to customers at the lowest income segment to support and sustain their livelihoods.
With respect to your home, we understand that your financing needs might be for a wide range of purposes, ultimately intended at giving you a comfortable residential experience. You can avail an IndusInd Bank Affordable Home Loan for purchasing or constructing a new residential property, improvement to or extension of your home or even balance transfer of an existing loan from another financial institution.
Launched on 25 June 2015, the Pradhan Mantri Awas Yojana (PMAY) (Urban) Mission intends to provide housing for all in urban areas by year 2022. The credit linked subsidy scheme (CLSS) under the auspices of PMAY, allows you a subsidy in keeping with your annual family income and the carpet area of your home. This scheme reduces your interest burden significantly and gives you easier access to your first pucca house. To check if you are eligible for PMAY-CLSS, please reach out to us. IndusInd Bank offers PMAY-CLSS under National Housing Board (NHB) guidelines.
For affordable home loans, IndusInd Bank has adopted RBI Repo rate as the reference rate for computing its External Bench Mark Linked Rate (EBLR). Accordingly, the Bank is offering only Floating rate of interest linked to its EBLR for all affordable home loans. The applicable rate of interest would get reset on a quarterly depending upon the prevailing EBLR.
IndusInd Bank allows you a high loan value of upto 85% of the property cost or cost of construction, as the case may be, subject to your eligibility as assessed by the Bank. Only the balance 15% has to be brought in by you as own contribution.
Your affordable home loan eligibility is computed basis a comprehensive range of factors including but not limited to your regular cash flows, income and repayment capacity. Few other important factors are your age, nature of business or employment, skill sets, number of dependents, your family income, assets & liabilities, savings history, stability & continuity of occupation subject to credit and product norms, policies and processes of the Bank. Please note that the final decision to grant a loan and the quantum of loan is the sole discretion of the Bank.
IndusInd Bank’s quick, efficient and transparent mechanism ensures that your affordable home loan is processed within 7 days of receiving the complete set of documents.
Yes! You can apply for a pre-approved home loan which is an in-principle approval for a loan. Please note that such pre-approved loans are valid for a limited period from the date of sanction of the loan
Yes! We understand that you might need additional help to set up the home of your dreams. In such cases, you can avail an additional top-up loan.
Yes. You are eligible for tax benefits on the principal and interest components of your affordable home loan as per relevant provisions of the Income Tax Act, 1961. As the benefits could vary each year, please do check with your loan officer about the tax benefits which you could avail on your loan.
IndusInd Bank offers you easy and flexible tenures on your commercial vehicle or construction equipment loans ranging from 12 months to 60 months. The tenure also depends on the type of vehicle that you intend to purchase.
IndusInd Bank finances most leading brands and all their models. In all probability, we fund your desired commercial vehicles and construction equipment. We also offer loans on pre-owned or used commercial vehicles and construction equipment not more than 12 years old. Please reach out to our customer care executive to know more.
IndusInd Bank provides as high as 80% to 100% funding on chassis with additional funding options for vehicle body.
Two Wheeler Loan
A two-wheeler loan helps you buy a scooter or motorcycle of your choice. Two-wheeler loans are available both for working professionals and self-employed individuals. You can repay the loan amount in Easy Monthly Instalments (EMIs).
Applying for a two-wheeler loan on IndusInd Bank is easy. Visit the website and fill out the online application form by providing details like name, mobile number, email address, and pin code. If you fulfil the eligibility criteria, your application will be approved instantly.
You need to visit the website to check the eligibility criteria to apply for a two-wheeler loan. The eligibility criteria for salaried and self-employed individuals are different. Ideally, you need to be 21 years of age, have stable employment, and meet the minimum gross salary requirements.
There are many benefits of opting for two wheeler loans from IndusInd Bank. Some of the benefits of applying for a two-wheeler loan are:
- Get the best and most competitive interest rates for two-wheeler loans across India.
- Applicants can choose loan tenure from the IndusInd Bank’s broad, easy and flexible repayment tenure, starting from 12 months to 36 months for regular two-wheeler loans and up to 60 months for high-end and high-street bikes.
- Quick loan processing time within 4 hours of convenient doorstep documentation in a hassle-free manner.
- Get up to 95% on-road finance from IndusInd Bank with loans starting from Rs. 15000.
IndusInd Bank offers flexible tenure to applicants. They can choose loan tenure from 12 months to 36 months for regular two-wheeler loans and up to 60 months for high-end and high-street bikes.
IndusInd Bank has a quick loan processing time. The loan is processed within 4 hours of convenient doorstep documentation hassle-free.
No. Under normal circumstances, there is no need to get a co-applicant or guarantor to avail of a two-wheeler loan. However, in a rare event, if the applicant doesn't meet the Bank's norms, the applicant may be required to have a guarantor to stand surety for the loan. A guarantor becomes the co-endorser and steps in to assume liability in case of a default.
Yes. IndusInd Bank offers potential treatment to existing IndusInd Bank customers. They get a 100% waiver on the processing fee. In addition, IndusInd Bank also offers a 2% interest rate advantage to existing customers.
IndusInd Bank offers two-wheeler loans across the board on all major two-wheeler brands and models of scooters and motorcycles. IndusInd Bank can provide you loans for all your needs, whether you need an economy bike, commuter bike, or even a high-performance superbike.
New Car Loan
IndusInd Bank’s car loan application process is simple and hassle-free. To apply for a car loan at IndusInd bank’s website, you need to provide basic information such as:
- Your Name
- Mobile Number
- PAN
- Pincode
Once you have submitted the above mentioned details, an IndusInd Bank agent will contact you and explain the features and logistics of applying for a car loan.
Alternatively, you can reach us via
- Phone by calling 18001023333 or 04445455555 (Two Wheeler) or
- Walk into any of our branches. Click here to locate the nearest branch or
- Email us your enquiry at reach4loan@indusind.com
Getting quick approval on your car loan will depend on your EMI instalment. Use our EMI calculator to determine the EMI amount that you will have to pay. Additionally, check the eligibility criteria online before submitting your car loan application. These two things can help you plan your application well resulting in steady approval.
You can also accelerate your car loan approval process by submitting the required documents and completing the Know Your Customer (KYC) formalities.
IndusInd Bank offers flexible tenure options ranging from 1-5 years. In some cases, it can be extended up to 7 years.
IndusInd Bank offers new car loans of up to 100%* of the car value. We also offer financing for the insurance and registration of your vehicle. Both offers might vary depending on factors such as vehicle cost & credit parameters.
To avail a new car loan at IndusInd Bank, your credit score would need to be above 600. With a high credit score you can receive approval for a higher loan amount.
IndusInd Bank offers new car loans of up to 100%* of the car value, which means that you need to make zero down payments to buy a car. This offer, however, is subject to conditions related to the vehicle cost & credit parameters.
IndusInd Bank offers flexible tenure options ranging from 1-5 years. In some cases, it can be extended up to 7 years. For used cars, the tenure can range from 1-4 years and can be extended up to 5 years.
You can avail IndusInd Bank car loans with simple documentation relating to your identity (PAN & Aadhar) and income proof. You need to provide:
- Valid Identity Proof(PAN, Aadhar)
- Valid Income Proof (latest Form 16/ Income Tax Returns, last 3 months' salary slips)
- Latest Bank Statements
- Business Incorporation Certificate (In case self-employed)
- Owned House Proof (In case income proof is not available)
IndusInd Bank has a basic eligibility criteria for car loan. They are as follows:
- Age: 23 years to 60 years
- Income: Minimum ₹2.5 Lakhs per annum
- Stability: Minimum 3 years’ employment stability and at least 1 year in the current employment
- Residence stability: 2 years in the city and 1 in the current residence/ no stability required in case of own house
Personal Loan
A Personal Loan is an unsecured term loan provided by the bank that an individual can use as per his/her personal need. A personal loan unlike a home or car loan do not require lock in of any collateral by the applicant.
A Personal Loan can be used for various expenses such as education, medical bills, home renovation, wedding, etc. A low interest personal loan is one of the easiest way to get financial aid for any personal use.
The minimum eligibility for an instant Personal Loan is:
a) An individual should be 21 years of age at the time of application.
b) The minimum net monthly income should be at least Rs. 25,000.
c) Completed minimum of two years in employment and one year in the current organization.
d) Completed minimum one year of stay at the current residence, if rented.
To apply for a Personal Loan, one must be at least 21 years of age and be able to provide identity proof, address proof, and other required documents.
To obtain the loan, there is absolutely no need to provide any security or collateral.
The online Personal Loan amount ranges from Rs. 30,000 to Rs. 50 Lacs depending on the eligibility, income, CIBIL Score, profile of an individual and repayment capacity.
You can choose to avail an instant Personal Loan with tenure from 12 to 72 months.
A Personal Loan is offered for a maximum of 6 years (72 months).
A Personal Loan is offered for a minimum of 1 year (12 months).
Follow the steps below to apply for an instant Personal Loan online:
- Visit our Personal Loan page and rovide few basic details like your mobile number, PAN card number etc. to get started
- Check out your Personal Loan offer and complete your video KYC
- Provide your bank account details for disbursement
At IndusInd Bank, you can avail an instant Personal Loan with rate of interest starting as low as 10.49%. Terms and conditions apply.
A processing fee of up to 3.5% of the loan amount and requisite documentation charges are applicable, and the same is deducted from the loan amount at the time of disbursal.
Once you submit your application form and the required documents, your Personal Loan can be approved and disbursed within few hours in case all details are correct and verified in real-time, else it might take a little bit more time. All loan approvals are at the sole discretion of the bank.
Yes, IndusInd Bank offers a top-up facility on the existing Personal Loan to help customers' requirements, this is subject to customer meeting bank's policy norms
The pre-approved Personal Loan is offered to select customers. You can log in to your net banking, mobile banking, or debit card account to check if you’re eligible for the pre-approved Personal Loan. You can alternatively click on the link to check your eligibility. Link:https://easycredit.indusind.com/
You can approach us in any of the following ways:
a) Call us at our 24 hour Customer Care number: 18602677777 / +91 22 44066666
b) Write to us at reachus@indusind.com
c) SMS "PL" to 5676757
d) Or you can simply walk into any of our branches, in the select cities where we offer Personal Loans
You can check IndusInd Bank Personal Loan status by calling the customer care on 18602677777 / +91 22 44066666
You repay the loan in equated monthly installments (EMIs). The loan will be paid through ECS/E-Nach. You can also pay through a standing instruction to debit your IndusInd Bank account with the EMI amount.
You can prepay/foreclose the entire loan outstanding any time after paying 12 installments Prepayment charges as applicable would be levied on the outstanding loan amount. The exact amount for pre-closure of the loan is available in the Foreclosure Letter issued by the bank. TAT (Turn Around Time) for issuance of a Foreclosure Letter is 15 working days from the date of request.
Part prepayment is not allowed. The Personal Loan has to either be prepaid in full or serviced for the contracted tenure.
We encourage you to start a banking relationship with us so that we will be able to offer a host of other value added services which are complimentary to the loan, however opening an account with us is not mandatory.
As an IndusInd Bank Customer, you will be offered special interest rates, asked for minimal documentation and your application will be processed on priority. Having an account with us enables us to assess your financial requirements better; and assists us in providing you with services and loan amount commensurate with your payment ability and requirement.
Gold Loan
Yes, you can avail a gold loan against gold coins. Maximum limit of 50 gm per customer will be applicable.
IndusInd Bank calculates just simple interest on gold loan
Monthly interest payment and repayment of principal on maturity date Equated Monthly Instalment option
You can make part-payment, but the ornaments will be released only after the entire outstanding amount is paid
Whatever be your need, Gold Loan can serve as a smart loan solution to meet it. Experience it and enjoy the following benefits:
Swift loan - Our loan sanction and disbursal is one of the quickest with Simple documentation.
Transparency – All costs and charges are communicated up front while providing the loan quotation to help you make the best choice for you.
Interactive process – Our Bank officials will assist you at the branch during the processing of the Gold Loans and guide you through the different product offerings, enabling you to make the best choice for you.
IndusInd Bank Gold Loans is a smart way to fund your dreams by unlocking the value of gold in your possession.
Loan Amount: You can get a loan upto INR 10,00,000
Immediate Loan: Gold Loan is the quickest possible form of loan to meet any immediate requirement you may have.
Security: Assurance of the security of your gold. The gold is sealed in your presence and vaulted in the safe keeping of the bank
Additionally, if you are an IndusInd Bank customer, you get easier repayment options and lesser documentation, making the loan process simpler for you.
Gold Loan can be used for any legitimate personal purpose or business purpose. The loan cannot be used for speculative purpose such as purchase of land or gold, capital market investments or any anti-social purpose.
The list of all the fees and charges to be paid for the loan:
| Nature of Charge | Amount to be paid |
|---|---|
| Processing Fee | Upto 1% of loan |
| Valuation Fee | INR 500 for loan upto INR 2 lakh and INR 750 for loan over and above INR 2 lakh |
| Charges for late payment of loan amount | 24% p.a. as penal interest over and above applicable rate of interest |
| Stamp duty and other statutory charges | As per Applicable laws of the State |
| Credit assessment charges | Not Applicable |
| Non-standard repayment charges | Not Applicable |
| Outstation clearing charges | Not Applicable |
| Cheque swapping charges | Not Applicable |
| Loan cancellation / re-booking charges | Not Applicable |
| Bounce Cheque Charges | Not Applicable |
| Renewal Processing Fees | Upto 1% of loan |
*Taxes and other charges on Gold loan shall be as applicable as per regulation and statutes
Simply walk into any of our branches, in the select cities where we offer Gold Loans.
Loan Against Property
A loan against property (LAP) is a mortgage loan that is offered to individuals, companies or firms against any of their existing residential or commercial property. This type of loan is ideal for people who are in need of immediate funds for different purposes such as expanding their business or meeting some of their personal financial needs. The main advantage of getting LAP is you can still hold on to your property and raise funds for your needs.
The maximum amount of loan you can get depends on your profile and eligibility rating. In addition, the amount also depends on certain other factors such as your monthly income, age, credit score, monthly financial obligations, retirement age and credit history.
Applicants can use any of the methods given below to apply for LAP:
• Fill up the online application form and one of our representatives will get in touch with you to help you complete the process.
• Call our phone banking number available on the website
• Visit the nearest IndusInd Bank branch
• Get in touch with your relationship manager for more details to apply for LAP
The maximum tenure offered by IndusInd Bank for LAP is 20 years.
You can use your residential property as collateral. Apart from that, if you have any commercial property such as a shop or office, you can also use these as collateral.
IndusInd Bank offers flexible loan tenures to customers. Depending on their capacity, the tenure can be customized from 1 to 20 years.
Not necessarily. As per the guidelines issued by IRDA, insurance is optional. However, applicants should get the property insured for the equivalent amount as the loan taken and for the same tenure.
A LAP can be used for a number of big-ticket expenses such as unforeseen medical expenses, to finance your children’s higher education or set up a business.
| If you are an individual applying for a LAP, you need to provide: | If you are a business entity, you need to provide: |
|---|---|
| You application form | You application form |
| A valid identity or residence or signature proof | A valid identity or residence or signature proof |
| The latest Form 16/ITR copy/Appointment letter and the latest 3 months’ salary slips/Salary Certificate | Latest 2 years ITR along with Computation and Acknowledgement. 2 years financials with full schedules & audit rpt (Form 3CD & 3CB). Financials to be audited for T/O > 40 /60 Lacs case else should be CA certified |
| Last 6 months’ bank statements of the MAIN CA/SA/CC/OD account | Last 6 months’ bank statements of the MAIN CA/SA/CC/OD account |
| Copy of all property documents of the concerned property that you wish to mortgage | Copy of all property documents of the concerned property that you wish to mortgage |
| Processing fee cheque | Processing fee cheque |
Yes, an overdraft facility is available for all customers. A great financing option, you can use the overdraft facility for your business or personal needs. As per the scheme, you will be provided with a credit limit and you can withdraw a required amount from the loan amount during the tenure of the loan. The interest rate will be applicable only on the amount that you withdraw or utilize.
Both loans are very different from each other. A home loan is taken to purchase a new home, which may be under construction, ready-to-move or a second property or something that needs to be constructed from the scratch. LAP is taken by mortgaging a property that you have (residential or commercial or special use space) to finance your immediate financial needs.
Affordable Home Loans
The Consumer Finance Division of the Bank is focussed on making credit available for all major vehicle loan categories ranging from a two wheeler to heavy earth movers or even tractors and farm equipment. We also specialise in affordable home loan financing. The CFD wing of the Bank is headquartered in Chennai and has significant presence in major geographies within the country.
We provide a range of flexible and easy financing options including but not limited to the following categories: New and pre-owned cars, two wheelers, construction equipment, new and pre-owned commercial vehicles in the small, medium, light and heavy segments, tractors and other farm equipment and home loans that are categorised as ‘affordable’ by the Bank.
Our wide geographical presence gives you the convenience to walk-in to any of our branches <insert Branch Locator Link here>. Alternatively, you can also call our PhoneBanking unit at 1860 267 7777 (24x7 Toll Free), 044454555555 (Two Wheelers), or write to us at reach4loan@indusind.com. You could also approach our customer service teams that are stationed at various dealerships from where you intend to purchase your vehicle or builders where you intend to purchase your home. We also have a host of products and services that you can avail exclusively online. Click on the Apply Online tab to know more.
In case of a fixed rate loan, the rate of interest applicable on the loan remains the same over a period of time. Therefore fixed rate loans have a specific EMI that does not change due to market conditions. In case of a floating rate loan, the applicable interest varies periodically as per the decision of the bank based on the market conditions, thus the payable EMI on a floating rate loan may change from time to time.
We have a host of easy to use online options that you can use from the comfort of your home via even your mobile or handheld device. We would encourage you to set up an eMandate using NPCI’s safe and secure eNACH to automate your EMI payments on pre-specified dates without any kind of intervention. For this and other online modes of payment, click on the Make Payments tab on the homepage to know more. You could set up a standing instruction (SI) or opt for electronic clearing services (ECS). Offline modes of payment are also available – you could remit cash or pay by cheque at any of our CFD branches across the country or sign up for a NACH facility by filling up the NACH form and submitting it at any of our branches.
Yes, you will be able to avail a loan without having a current or a savings account with us. But we would recommend that you switch to an IndusInd Bank savings or current account to avail our range of best-in-class services like customised account numbers, choice of currency at our ATMs and much more! Now with Video KYC and WhatsApp Banking facilities opening and operating your account is easier than ever before.
Once all the EMIs are paid, the Bank issues a computerised closure letter secured with a hologram, Form 35 and a No Objection Certificate (NOC) to the Road Transport Office (RTO), post which the Bank’s endorsement will be removed from the Registration Certificate (RC) book. A similar NOC is issued to the insurance company to remove lien from the policy as well, if applicable within 6 days from the date of paying the last EMI. Please note that Form 35 is valid for a period of 3 months from the date of issue. Any security post-dated cheques (PDC) provided during processing will also be returned back.
Accidents, Earthquake, flood, fire and other allied perils threaten the comfort and safety provided by your home and vehicle against which an insurance protects the asset concerned. In the event of any such eventuality, the cover provided by the insurance kicks in and the claim is paid directly to the Bank which uses the proceeds to close your loan account. Keeping your assets insured is a sound financial safety tool and we encourage you to continue to insure your assets. For all insurance options to secure your home please go to the Insurance tab under the personal banking section.
Yes. Insurance and registration of your vehicle can also be financed by IndusInd Bank, if you qualify under certain schemes. Please contact us for more details.
Yes. If your spouse is listed as a co-borrower, their income can also be included.
Dishonouring a cheque/ECS/NACH is a criminal offense and can attract penalties under relevant sections of law. Not paying your EMIs on time can classify you as a defaulter. Initially you may have to pay a penalty. If you fail to regularise your payments after repeated notifications, the Bank can legally repossess your vehicle. Further, your CIBIL/credit scores will also be adversely affected which can impair the chances of you securing a loan in the future. In addition, you will have to pay a bounce charge also for the return of the instrument. Please refer to our Schedule of Charges in for the quantum of such charge.
Please do keep your agreement number, self-attested ID proof handy for all requests. For specific requests like if you want change your address or contact details, please carry your new address proof along with a self-attested copy and a change request.
In case you wish to change the mode of repayment or the bank account for your loan repayment, please visit your nearest IndusInd Bank specialised branch and submit your request with the revised mandate or instructions for a nominal fees. Please check the schedule of charges for details. Please note that it takes 25 working days to activate the revised instructions. In case your next instalment falls due prior to this period, instructions already lodged with us will be presented for payment.
A co-borrower is co-applicant who is liable for repayment irrespective of the performance of loan. Debtors default or defenses are not pertinent. Whereas, a guarantor is liable for repayment only when the debtor defaults and the Bank takes steps to recover the loan.
Yes. A customer copy is available in the loan agreement.
No. Since your loan is based on equated monthly repayment, there will not be any interest rebate and the excess amount will be treated as advance payment for the next EMI. Only in the event of foreclosure of the loan will you receive an interest rebate on future outstanding amount.
No, to hold the ACH repayment, you will have to give a written application to the specific branch, 7 days prior to due date. It is advisable that you pay the EMIs through ACH, so as to avoid additional charges on cash collection. Please refer to our schedule of charges for details.
Yes. You are free to remit the required funds into the account and request foreclosure of the loan account. Please note that this is a chargeable service. Please refer to our Schedule of charges for more information.
With respect to your home, we understand that your financing needs might be for a wide range of purposes, ultimately intended at giving you a comfortable residential experience. You can avail an IndusInd Bank Affordable Home Loan for purchasing or constructing a new residential property, improvement to or extension of your home or even balance transfer of an existing loan from another financial institution.
Launched on 25 June 2015, the Pradhan Mantri Awas Yojana (PMAY) (Urban) Mission intends to provide housing for all in urban areas by year 2022. The credit linked subsidy scheme (CLSS) under the auspices of PMAY, allows you a subsidy in keeping with your annual family income and the carpet area of your home. This scheme reduces your interest burden significantly and gives you easier access to your first pucca house. To check if you are eligible for PMAY-CLSS, please reach out to us. IndusInd Bank offers PMAY-CLSS under National Housing Board (NHB) guidelines.
For affordable home loans, IndusInd Bank has adopted RBI Repo rate as the reference rate for computing its External Bench Mark Linked Rate (EBLR). Accordingly, the Bank is offering only Floating rate of interest linked to its EBLR for all affordable home loans. The applicable rate of interest would get reset on a quarterly depending upon the prevailing EBLR.
IndusInd Bank allows you a high loan value of upto 85% of the property cost or cost of construction, as the case may be, subject to your eligibility as assessed by the Bank. Only the balance 15% has to be brought in by you as own contribution.
Your affordable home loan eligibility is computed basis a comprehensive range of factors including but not limited to your regular cash flows, income and repayment capacity. Few other important factors are your age, nature of business or employment, skill sets, number of dependents, your family income, assets & liabilities, savings history, stability & continuity of occupation subject to credit and product norms, policies and processes of the Bank. Please note that the final decision to grant a loan and the quantum of loan is the sole discretion of the Bank.
IndusInd Bank’s quick, efficient and transparent mechanism ensures that your affordable home loan is processed within 7 days of receiving the complete set of documents.
Yes! You can apply for a pre-approved home loan which is an in-principle approval for a loan. Please note that such pre-approved loans are valid for a limited period from the date of sanction of the loan
Yes! We understand that you might need additional help to set up the home of your dreams. In such cases, you can avail an additional top-up loan.
Yes. You are eligible for tax benefits on the principal and interest components of your affordable home loan as per relevant provisions of the Income Tax Act, 1961. As the benefits could vary each year, please do check with your loan officer about the tax benefits which you could avail on your loan.
Loan on Credit Cards
Indus Easy Loan is a loan against the unutilised credit limit and so, depending on various parameters, IndusInd Bank calculates the maximum loan a customer can get. Minimum loan amount that you can get as a Indus Easy Loan is INR 5,000.
Besides the fact that this allows you to have cash within 7 working days of approval of the Indus Easy Loan, you can repay the loan in simple EMIs without having to go through a detailed loan approval procedure somewhere else.
We are sure you recognize and appreciate the importance of this product. Every bank charges a fee for this service. For IndusInd Bank the processing fee is a mere 2.5% (or INR 250, whichever is higher) of the total loan amount. It is only a one-time payment made along with the first EMI, post which you pay just your EMI.
Please refer to the Schedule of charges or call our phone banking team on 1860 267 7777 to find out the prevailing interest rate. Please note that the EMI shall be computed on a monthly reducing balance for tenor as communicated at the time of purchase.
Most certainly you can, however please note that there will be a pre-closure fee for paying at one go before the end of your tenure. This will be a fixed amount of 3% of the principal outstanding amount on Indus Easy Loan.
Your new minimum amount due will include the EMI amount as well.
Transactions can be converted into easy EMI within 45 days of purchase using your IndusInd Bank credit card. You can either call our phone banking team at 1860 267 7777 / +91- 22- 44066666 or write to us at cards. care@indusind.com .
You can convert a maximum of 10 transactions into EMI. And to make things easier we allow you to choose for tenure periods of 12, 18, 24 and 36 months.
Indus Easy EMI allows you to shop to your heart's content without the need of having to pay immediately. This also helps reduce your interest burden as the interest rate may be lower than the normal interest rate on the credit card*.
Yes, you can convert transactions done on your IndusInd Bank add-on credit card into Indus Easy EMI.
Payments
FasTag
FASTag is a device that employs Radio Frequency Identification (RFID) technology for making toll payments directly from the prepaid account linked to it. It is affixed on the windscreen of your vehicle and enables you to drive through toll plazas, without stopping for cash transactions. You need to recharge / top up the tag as per your requirement.
- Ease of payment - No need to carry cash for the toll transactions, saves time.
- Online Recharge - Tag can be recharged online through Debit Card, Credit Card, Net Banking & other online payment modes.
- SMS alerts for toll transactions, low balance, etc.
- Online Portal for customers.
FASTag has unlimited validity. The same FASTag can be used till the tag is read by the reader and not tampered with. In case due to wear and tear the reading quality depreciates, please reach out to your Issuing Bank for a new tag.
FASTag is presently operational at toll plazas across national highways. More toll plazas are being brought under the FASTag program every dat. You may see the list of plazas in the 'Active Toll Plazas' section.
FASTag has a onetime Fee of ₹200 including service tax with GST. The refundable security deposit depends on the vehicle type. Please check the 'Fees and Charges' section for details.
You may visit any of the IndusInd Bank branches near you to get your tag account created. You may call our customer care @ 1860 267 7777 to know more details.
You will need to carry original as well as copy of your KYC documents along with your vehicle’s RC Book, Driving Licence and Vehicle at the Branch location.
You will need to carry original as well as copy of your KYC documents
You need to submit the following documents along with the application for FASTag:
- Registration Certificate (RC) of the vehicle.
- Passport size photograph of the vehicle owner
- KYC documents as per the category of the vehicle owner:
- Online Portal for customers.
| Individual | ||||
| ID proof and Address proof from the list mentioned, and 1 passport size photograph | ||||
| Driving License | PAN Card | Passport | Voter ID Card | Aadhaar Card (with address) |
| A valid driving license would be sufficient for Address & ID proof. | ||||
| Corporate | |
| Public Ltd./ Private Ltd./ Partnership | Proprietorship |
| Certificate of Incorporation/ Partnership Deed/Registration certificate of the firm | PAN Card of Proprietor |
| PAN Card of the corporate | Address Proof of the Proprietor |
| Photo ID of signing authority | Shop Act or other Firm Proof |
| List of Directors with addresses/Name and addresses of Partners | |
Our representative will provide you an application form, which you need fill and submit.
All required documents for FASTag should be in the name of the owner of the vehicle. If car owner is not present at the time of application, driver will need to submit his photo ID proof.
A valid driving license would be sufficient for Address & ID proof.
Yes, you will have to use the lanes demarcated for FASTag.
Currently there is no Online facility to Apply for a monthly pass. Kindly reach out to the toll Operator and pay them directly to avail Monthly Pass. While paying them, please inform them that you have a tag so that they can map your tag details & vehicle details in their system.
You may recharge your TAG account by making payment online through Debit Card, Credit, Net Banking & other online payment modes. The TAG account can be recharged upto ₹ 1,00,000.00 for Full KYC accounts and ₹ 10,000 for Limited-KYC accounts.
You may also recharge your TAG account at an IndusInd Bank Branch or PoS locations near Toll Plazas by paying cash.
For online recharge, please follow these steps:
- Log into Customer Portal at www.fastag.indusind.com, choose 'Customer Login' & enter your username and password
- Go to Payments>Recharge Account
- Select the tag accounts to be recharged and mention the respective amounts to be uploaded
- Choose payment mode as 'Pay Online' and click 'Continue'
- A new window will open with an option to select your bank
- Please select your bank from the list and continue
- You will be asked for the login credentials for your bank account. Please proceed with the details and complete the payment.
- Minimum recharge amount a tag can be recharged with is ₹100.
- Do not refresh the browser or press the 'Back' button in the middle of the transaction
Once your FASTag account is created, please log in to the customer portal and register yourself to generate your user id and password. Please enter the required information in the prompts and the system will send an SMS with your log in details to your registered mobile number. You may call our customer care @ 1860 267 7777 for assistance.
You can avail a cashback of 2.5% on all toll payments using FASTag up to March 31, 2020. The cashback amount for a particular month will be credited back to your FASTag account within 20 working days from the end of the month (subject to receipt of funds from NPCI).
In case ETC equipment are not working and your FASTag account is having sufficient balance, please pay the toll fee in cash at the plaza. Additionally, please call our customer care and also report the issue with the concessionaire.
Yes, the minimum recharge amount is ₹ 100 and maximum is ₹ 1 lac for a Full-KYC Account
You will need to take two separate FASTags for the each vehicle
You will need to call our customer care number to block your FASTag. Once you take a new tag, we will transfer the balance to the new tag account.
You will receive an SMS alert in your registered phone number each time a balance is deducted from your FASTag account.
You can report an incorrect deduction by calling our call centre. For all toll transactions, the toll plaza system sends a request to Bank for debiting the toll amount that is due from you. In the rare scenario of Toll Plaza system sending an incorrect amount, Bank would raise a Chargeback on behalf of you to recover the money that has been collected in excess by Toll Plaza. This Chargeback process normally takes up to 20-30 working days. All incorrect deductions, if proven so, are reverted back post representing the case with Toll Plaza.
You can call our customer care or login to www.fastag.indusind.com to block your FASTag account
OEM or RFID tags fitted by vehicle manufacturer cannot be used as replacement of FASTag. Only FASTags issued by an issuing bank can be used for purpose of electronic toll payment.
Banks are exploring ways to use these tags for ETC , however it will require some new technical development. It will also be subject to tag being in proper condition without any damage or tampering. For now, you will have to purchase a tag from IndusInd Bank in order to use it through us.
FASTag can be used on all toll plazas where it has been implemented. You can check the list of Plazas click here
You can raise a request regarding the same by calling our customer care or login to www.fastag.indusind.com to check your tag/account details.
You will need to submit your documents to the concessionaire validating your residence within 10km of a particular plaza. Once it is verified, you may avail the concession on the FASTag assigned to your vehicle
Vehicles are categorized for the welfare of road users. This categorization is primarily based on the size and load they carry and damage done to the road and type of use (commercial/personnel) of a vehicle.
Concession to local/frequent users are extended as welfare measures. There may be variation in the concessions available as these have been provided at different times under different fee rules and provisions of concession agreement.
In India, the tolling is generally under the open system, whereby fee payable is a fixed amount based on the length of stretch under one project which is normally 60 kilometers. If a stretch is of lesser length, user fee of actual length only may be collected.
As per the fee rules 2008, the spacing between two adjacent toll plazas should be 60 km.
MoRTH/NHAI/IHMCL has launched 1033 helpline number for addressing FASTAG complaints related to Toll Plaza. You can call this number and report the same.
User fee on a particular fee plaza is based on stretch length under that plaza, structures (bridge, tunnel, bypass) and width of the highways, applicable fee rules and provisions of the concessions agreement.
No. You don’t have to pay Security deposit again for replacing your Tag. Login to your a/c at www.fastag.indusind.com, click on the link “Replace my tag” in the left panel. For replacing your tag, you will have to pay a nominal charge of Rs 200 (including currently applicable taxes).
Yes. You can replace your existing FASTag with IndusInd Bank FASTag. However, please ensure you remove other bank’s FASTag sticker from the vehicle and paste ONLY IndusInd Bank FASTag on the vehicle. Pasting more than one FASTag on the same vehicle is a violation and will attract penalty.
MoRTH/NHAI/IHMCL has launched 1033 helpline number for addressing FASTag complaints at toll plaza level. Customer can simply dial 1033 from Mobile/Landline for the following issues:
1) Stopped at the plaza for Tag blacklist reason even though Tag is not blacklisted.
2) Plaza not accepting FASTag
3) Plaza not able to read the Tag
4) Plaza not supporting for monthly pass issuance
5) Any other applicable issue for FASTag
Quick Pay
Quickpay is one of a kind service that lets you send money as an e-cheque or as an e-gift card to anyone just with their E-mail ID or Mobile Number. No need to remember account numbers or add as beneficiaries. All that is required is just an E-mail ID or Mobile Number. Also, you can personalize your message and send as an e-gift card to the recipient. At IndusInd, We are happy and take pride to facilitate our customers in making payments or e-gifts anytime, anywhere.
No. It is absolutely free.
Once you initiate a Quickpay, we send a link to the beneficiary where he/she can enter his/her Account Number, Bank Name, IFSC code and receive funds. Only the banks which are supported for IMPS transactions will be displayed in the drop down.
The recipient gets the funds instantly subject to availability of funds in your account!
If you get an SMS from us that your transaction was timed out, the funds will be credited to the recipient/beneficiary within 3 working days. Please quote the transaction reference number that you received on the SMS to the recipient to check with his/her bank after 2 working days, if still he/she has not received the credit.
Please check if the beneficiary has entered his/her account details and IFSC code within 48 hours from the time they have initiated the transaction. You can remind them about the link by re-sending the link within the transaction history option. If he/she has entered the correct bank details and your account has been debited, they should receive the funds instantly.
All customers of IndusInd bank using IndusNet with transactional rights and/or have an active Debit card can avail the service.IndusNet users with only a Credit Card relationship cannot avail the QuickPay service.
Instacode is a One Time Password generated by the system and sent to the remitter via SMS. Instacode has to be shared with the recipient for them to receive funds into their account. You can re-generate one before 48 hours from the initial transaction, from transaction history in case you would like to generate a new code and share it with the recipient.
You can cancel a transaction by visiting the transaction history section as long as the funds are not debited from your account.
You can view or cancel your transaction (as long as it is not debited from your account) under transaction history section.
You can call us at 1860 267 7777 or write to us at reachus@indusind.com for any queries or clarifications or complaints.
If you are an Exclusive or Select customer, you can call us at 1860 267 7777 or write to us at exclusive@indusind.com.
NRI customers can call us at 1860 267 7777 or write to us at nri@indusind.com.
Please provide the transaction reference number, date of transaction, account number to our team for us to resolve your complaints quickly
Mobile Recharge
The bank has a tie-up with FSS the switch service provider to provide this service. FSS in their turn have entered into an arrangement with Paymate, to provide this service.
Minimum is INR 15 and the maximum is INR 10,000.
This service is absolutely free to our customers.
Your bank account will be debited as per real time.
Your account will show an entry as ATM Mobile Recharge along with the mobile number recharged and the card used.
IndusInd accepts the same for processing. If the mobile number exists with the service provider, the same will be recharged. If the number is incorrect the amount would be refunded to you within 3 working days.
On successful completion of the top-up transaction, the topped up mobile will receive a confirmation SMS from the aggregator (Paymate) and the service provider.
Every service provider determines the talk time limit and the tops on your account with the service provider. Please get in touch with your service provider for talk time information.
There could be situations where you do not receive a message for a host of reasons. Please check you mobile account. Your account with the service provider is updated real time. In case there is no change please contact your service provider.
Digital Banking
On the go Twitter
Onthego Banking endeavors to serve you on twitter with your banking needs so that you can stay connected with your bank anytime anywhere.
1. Follow @myindusindbank
2. Just send a Direct Message (DM) in the format #regmob
3. You will receive a One Time Password on SMS
4. Send a Direct Message (DM) #regotp
That’s it you are registered
You can check balance, mini statement, locate ATM/ Branch , simple tags as follows
| 1 | Register | #regmob <10-digit mobile no.> |
| 2 | Registration OTP | #regotp <4-digit OTP> |
| 3 | De-registration | #dereg |
| 4 | De-registration OTP | #deregotp <4-digit OTP> |
| 5 | Balance inquiry | #bal |
| 6 | Mini statement | #mini |
| 7 | ATM location | #atm <pincode> |
| 8 | Branch location | #branch <pincode> |
| 9 | Change primary account | #setprimac <acc no.> |
Any IndusInd Bank account holder with a registered mobile number with the bank can use Twitter Banking. However, for financial transactions only customers with an Active Debit card will be eligible
For, Credit Card only customers it is currently unavailable but we will be live soon.
Send #help and you will receive the link to the kewywords and formats
On the go Facebook
IndusInd OntheGo Social Banking on Facebook endeavors to serve you on Facebook with your banking needs so that you can stay connected with your bank anytime anywhere on facebook app or messenger when you send keywords and seamlessly integrates Video branch on the desktop version for you to do all banking transactions from facebook. Check our tabs on Facebook page today.
Like IndusInd Bank official page
Just send a message in the format #regmob
You will receive a One Time Password on SMS
Send a message #regotp
That’s it you are registered. If you are on desktop, you can call our Video Branch without any registration.
You can check balance, mini statement, locate ATM/ Branch , with simple tags as follows
| 1 | Register | #regmob <10-digit mobile no.> |
| 2 | Registration OTP | #regotp <4-digit OTP> |
| 3 | De-registration | #dereg |
| 4 | De-registration OTP | #deregotp <4-digit OTP> |
| 5 | Balance inquiry | #bal |
| 6 | Mini statement | #mini |
| 7 | ATM location | #atm <pincode> |
| 8 | Branch location | #branch <pincode> |
| 9 | Change primary account | #setprimac <new a/c no.> |
Any IndusInd Bank account holder with a registered mobile number with the bank can use Facebook Banking. However, for financial transactions only customers with an Active Debit card will be eligible.
For, Credit Card only customers it is currently unavailable but we will be live soon.
We have a set an account as primary account for your convenience but you can change it by sending a Direct Message #setprim <acc no.>
Send #help and you will receive the link to the kewwords and formats
Video Branch
VideoBranch is a service offered exclusively for all IndusInd Bank customers across the world. By using this service can connect with yourBranch Managers, Relationship Managers or with our centralized VideoBranch.
All the services that are currently being offered throughPhone Banking are also available using this facility.In addition to this, you can also do financial transactions like opening an FDor RD, transferring fund through NEFT, RTGS, etc.,
We believe that our customer should be able to access the bank from the device of their choice. You can use your desktop/laptops, tablets or mobile phones
Currently VideoBranch is available for Android and Apple mobile devices in the respective App Stores.
Simply contact your branch or call our phone banking at 1860 267 7777 /022 44066666 to update your mobile number. Once your number is updated, you can enjoy the VideoBranch services and also benefit from alerts and other communication sent by the Bank.
This service is complimentary to all our customers. However, you will have to pay for data plans. We have designed the VideoBranch with the latest technology to ensures optimum utilization of the bandwidth and data.
We have taken all care to ensure that communication between the bank and our customer via the VideoBranch service is safe and secure
You will have to authenticate yourself by using your registered mobile numbers and One Time Password (OTP) that will be sent to your registered mobile number by the banks.
To enjoy the services of VideoBranch, you will have to install Video application. You can download this application from their website – www.vidyo.com or from other App stores depending on the device you are using.
We endeavours to fulfil call-back requests with your Branch Manager or Relationship Manager on the same day for all the requests placed up to 12 pm. For all the requests received post 12pm, a callback will be scheduled for the next working day.
As a customer you have the option to use "Audio Only" facility of VideoBranch. However, in order to do the financial transactions, you will have to use the video conference to ensure security.
VideoBranch does not retrieve user data from the devices. All you have to do is share your mobile numbers with us to access the service.
To use VideoBranch you will need a steady internet connectivity. You can use either Wi-Fi connectivity or 3G connectivity to have a good experience on VideoBranch.
VideoBranch is currently available for Apple and Android mobile operating systems only.
IndusInd Bank VideoBranch is available 24x7, 365 days in a year. You can use this service from any part of the world, any time as long as you have access to your device with internet connectivity.
If you have any technical queries please get in touch with our Call Center at 1860 267 7777/022 44066666.
Indus Mobile
IndusMobile allows you to bank anytime anywhere through your mobile phone. Get access to your banking information and transact on account 24*7 on IMPS/NEFT .. Make Bill Payments, book Fixed or Recurring Deposits, recharges to your mobile or DTH and a lot more features are available on the app.
If you are an IndusInd Bank customer with an Individual or Joint relation with the bank with an Individual Savings/Current account or an IndusInd Bank Credit Card or a Vehicle loan, you can avail of this Mobile Banking Facility, by registering with us.
As an IndusInd Bank customer, to be able to register for the Mobile Banking service you need to have:
- You have a Savings or Current Account with the Bank
- You have the app downloaded from App store , Play store or Windows store
- Customers with Single/Singly/Either or Survivor/Anyone or Survivor/Former or Survivor/Severally will be able to view and transact. Customer with jointly MOP will be able to only view transactions.
As an IndusInd Bank customer, you need to register for Mobile Banking service by:
- Download the Indus Mobile Application and register online using your Net Banking / Debit Card / Credit Card Credentials.
- Visiting your nearest IndusInd Bank branch and filling in the application form.
The new app, now with a contemporary design, quick balance checks, inclusion of real time fund transfers, Fixed Deposit Booking, Mobile and DTH recharges is loaded with a lot of features. You may need to re-register to upgrade to new IndusInd mobile banking app in case you were using the old app to avail all these features and a lot more.
Yes, you can use this app on iPads and Android Tablets. On iPads, you can search for the app under Phone apps and use it.
Yes, we allow you to use Indus Mobile on more than one device. The max limit is 3.Please do not forget to remove any unused devices
You can register up to 3 persons or relationships on the app. Each will have to be registered separately.
Mobile Banking helps you bank while on move directly through your mobile phone. You can access information and conduct transactions on your IndusInd Bank accounts with the help of your mobile phone.
- List of transactions that can be carried out with IndusMobile are:
- Check account balance , statements
- Check Deposit details and open fixed or recurring deposits
- Check Credit Card and loan details
- Free instant payments and transfers (IMPS, QuickPay)
- Free NEFT
- Add and Pay 250+ bills
- View FCNR deposits
- Get smart notifications
- Service requests
- Mobile and DTH recharges and a lot more
You can totally perform more than 75+ Banking/Credit Card services at your convenience
Indus Mobile requires you to register your mobile number with the Bank for receiving One Time passwords on financial transactions for security reason. In case of a change in your mobile number you would need to get it updated either through an IndusInd Bank Branch or through IndusNet.
IndusInd Bank offers Mobile Banking facility free to all its customers, though operator data charges apply.
To use IndusMobile you will need to set:
- MPIN: Mobile Banking PIN used to login in IndusMobile OR
- PATTERN A new feature used for login OR
- Biometric: If you are using an iOS mobile or Android (above 6.0, specific devices from Samsung, Nexus and Huawei) which has a biometric (Touch ID/Android Fingerprint) feature, the same can be used for logging in.
All transactions require an additional factor of authentication OTP for executing the transactions.
The daily limit of Transaction using IndusMobile is Rs 10,00,000 per day.
Either the beneficiary account details like Account Number or IFSC code is incorrect or that bank is not live on IMPS. To know which banks are live on IMPS (using Account number and IFSC code)visit http://www.npci.org.in/bankmember.aspx We also suggest you to change preferred mode to NEFT to try transferring funds to that beneficiary by visiting if bank is not supported More Menu > Settings Option > Preferred transfer type
You can do QuickPay transactions with just the E-mail ID or Mobile Number. For banks that do not require IFSC code, you can do a One Time Payment
Visit the More tab by clicking on the brand icon and select Settings. Switch off the Balance toggle and then you will not see the balance outside Login
Visit More Menu > Settings Option > Preferred transfer type
Visit More Menu > Settings Option > Change MPIN/Pattern
Tap on Forgot User ID at the login section.Enter the Debit card or Netbanking details and your user name will be sent to your registered Mobile number.
Sorry! This happens when there is a failure at operator's end. The amount will be reversed back into the account within 2-3 working days if you did not get the recharge
Our endeavor is that the app works on as many devices but however due to some technical constraints. Please share your device model number with us by calling 1860 267 7777 and we will confirm on the compatibility.
Visit the Open a Deposit section under the Banking tab. You can select the tenor and the amount and book an RD instantly.
You can book for Rs.1000 and thereon multiples of Rs.100.
You will be able to add only up to 2 beneficiaries per day on IndusNet or IndusMobile put together.
No. You need to register your mobile number with your account with the bank.
Please visit Hamburger menu in the Logged In section and press on Link Relationships.Press on Link your credit card and enter your Credit card number and authenticate to get your relationship linked on IndusMobile.
You can press on brand icon (Zebu bull icon) and on top right will see a "power" button. Tap it to Logout. Alternatively on Accounts Overview screen, tap on the 3 dots and you will see an option to logout.
Google Playstore avoids showing non supported apps in search results. It could be the case that your phone is not supported.
The application will be processed in 2 working days. If successful, you will get it delivered within 15 days of the request. The charges for Debit card upgrade depending on the card variant applied for.
Cash on Mobile is an innovative service that lets you withdraw cash yourself from an IndusInd Bank ATM without any card or send money to your dear ones who can withdraw cash from an IndusInd Bank ATM without any card.
If your Credit card supports NEFT based collection for paying it then, you can use the Beneficiary transfer (if added already on Net banking) or use the One-time payment option to make the payment. Please use NEFT for such payments as not all banks accept IMPS for Credit card payment. Else, if it is a VISA credit card, you can use the One-Time Payment option and select Other Bank Credit Card as the transfer type.
VISA money transfer is a mechanism whereby you can pay your VISA credit card or send money to an account linked to a VISA card. It takes 3 working days to get credited from the successful processing date.
MMID stands for Mobile Money Identifier. This is required in case, a customer wants to send or receive money via IMPS (P2P) with mobile number of the beneficiary for sending money to other banks. Please note this is not the case for IMPS P2A (that uses Account Number and IFSC code) that works just like NEFT for other bank transfers.
Use Forgot MPIN option on the login screen and reset the PIN by giving your Net Banking credentials or Debit card or Credit card details. Then you can Login immediately.
Customer can see the statements for the last 90 days. However, you can request for an e-statement or physical statement for up to 2 years. The Physical statement is chargeable as per the Schedule of Charges for the account which is it is applied for
No, use the Already Registered option and Login with your User ID and MPIN or Pattern or Fingerprint.
We take this additionally just in case you want to use the app on a phone that does not support fingerprint technology, you will be able to login with the MPIN using the Already Registered option.
Please check whether the beneficiary’s account number of IFSC code or MMID/Mobile number is correct. Also, some banks and Credit card issuers do not accept IMPS payments and we would request you to use NEFT in case your bank/Credit card issuer does not support IMPS.
These billers are called Presentment and Payment billers and can be paid only if the amount is presented by the Biller. You will see a notification to Pay Now anytime for other billers that supports one-time or any time payment.
It takes usually 3 working days for the bill to be updated at the merchant/biller end.
An autopay is set for a biller so that you can forget about paying late fees for billers. It will be automatically executed 3 working days in advance from the due date. You can edit/delete it anytime. Once you add an Autopay it takes at least one cycle before it is activated.
Yes, Visit settings of your phone and select the app and turn off notifications.
Yes you can view your FCNR deposits and total balances in each currency on IndusMobile
Yes you can select the add on card and view transactions that are specific to the add on Card under the Credit Card section
The limits on your debit card are basis your Card variant. You can choose to set a lower limit for ATM Withdrawals or Point of Sale transactions basis your needs
It allows you to reset your Debit Card / ATM PIN instantly. Please note that your cash withdrawal limits are reduced to Rs. 5000 for 48 hours post change.
The contact center has the capability for de-registration of the user ID from IndusMobile. You may get in touch with the contact center for any such request.
IndusNet
IndusNet is an online service which allows you to do virtually all your banking activities at your convenience. Through IndusNet you can access all your banking and depository accounts with the bank, 24 hours a day, 365 days a year, from anywhere in the world.
All customers of IndusInd Bank having either savings or current account, operated on either or survivor/anyone or survivor basis, can register for INDUSNET.
IndusNet is a free service, providing you access to your accounts and lets you transact over the internet. However, standard commission/transaction fees for certain bank services still apply. Please refer to the Schedule of Charges to know more on any applicable charge.
There are multiple ways to register:
- Register online using your Debit cum ATM card by visiting www.indusind.com and clicking on the Register Now link
- You may call our contact center on numbers shared in the Contact Us section or
- You may visit our branch
Indusnet is best viewed on 1024 X 768 resolution in Internet Explorer Version 6.0 or higher and Mozilla Firefox Version 3.0 or higher. While IndusNet can be accessed through other browser versions and browser resolutions, some functionality/pages may not load as per expectations.
You need a Java enabled browser, if your browser is not Java enabled Click Here to download the PlugIn. (http://www.java.com/en/download/index.jsp)
At IndusInd Bank, security of your account transactions has always been our priority. We at IndusInd Bank have made all efforts to ensure your security and have already implemented 128-bit Secure Socket Layer (SSL) technology. Plus, a host of internal control measures and processes ensure that your transactions remain confidential.
Listed below are some tips to ensure more security:
- Use the Virtual Keypad to enter your login password and Debit Card PIN
- Change your login password and transaction password on your first login
- Change your password frequently or at least once a month, through the change password option
- Destroy the password after memorising it, do not write down your password or store it anywhere. Avoid using it when others can observe you
- Don't disclose your passwords to anyone; it is both personal and confidential
- Choose passwords that are difficult for others to guess. Do not select easy-to-guess password, like date of birth, telephone number or sequential numbers such as 111111, 12356 etc
- Use letters as well as numbers and a combination of lower case and capital letters in your passwords
- Always log out of IndusNet after using it or whenever you are away from your PC. For security reasons, your login session of Net Banking will be terminated if your browser is left idle for a while
- Always remember to close the browser application after logging out
- Avoid accessing Net Banking through computers installed in public/open areas, e.g. cyber-cafes or libraries
- Our bank does not ask for the details of your account/PIN/password. Therefore, any one pretending to be asking you for information from the bank/technical team may be fraudulent entities, so please be ware. You should know how to operate net transactions and if you are not familiar you may refrain from doing so. You may seek bank's guidance in this regard. Bank is not responsible for online transactions going wrong
- We shall also not be responsible for wrong transactions and want on disclosure of details by you. Viewing option and transactions options on the net are different. You may exercise your option diligently
A user ID and a login password is needed to access IndusNet. To transact (financial and non financial) you would need your Transaction Password or register for One Time Password (OTP).
IndusNet offers you the opportunity to personalise your user ID at the time of registration. You get the freedom of choosing your own user id subject to the same being available.
One Time Passwords (OTPs) are unique single use passwords that can be used for high value transactions and other key services on IndusNet.
In case you have an active IndusInd Bank Debit Card then you can register for OTP through IndusNet else get in touch with our Contact Centre or visit an IndusInd bank branch.
The benefits of using OTP are:
- Using it enables you to undertake transactions of a greater value than using only the transaction password while also ensuring higher security
- Using OTP service allows you to access services that are offered only via the use of OTPs e.g. enabling you to change your contact details
Yes the OTP can be used in place of the transaction password.
An OTP is valid for a few minutes only and can be used for one transaction/request only.
The SMS OTP would be generated by the bank in real-time. The time taken for you to receive the SMS OTP would depend on your mobile operator.
You need to have
- Your IndusInd bank Customer ID
- A valid IndusInd Bank Debit Card
You would also be required to provide any one of the following fields to complete your online registration.
- Date of birth
- Permanent Account Number (PAN)(In case you don't have a valid Debit card please call our Contact Center or visit our branches to know how to register for IndusNet)
You can visit the online registration section available on the login page of IndusNet and commence the process for Online Registration.
There will be 3 attempts allowed to enter your correct login password post which your account will get locked.
In case your id gets locked, you can
- Reset your password online from Activate/Unblock id section on IndusNet login page by providing your debit card and personal details
- Contact your Contact Center and ask the executive to assist you in resetting Login Password
- Your login and transaction password expires every 90 days
- If you choose to reset either password before the expiry then the next expiry is 90 days from the password reset date
In case your passwords expire, you will be prompted to change your password after you log in, and before you login/transact subsequently.
In case you have forgotten your password you can reset the same by validating your debit card details on the "Forgot your Login Password" option.
You can change it by navigating to the "Reset Transaction Password" section via the "Online Preferences" option located at the top of your IndusNet screen. Your password will be changed instantly.
You can view your last 12 months transactions through the transaction query option.
You can download and save the account statement in MS Excel or PDF format.
By clicking on the transactions on the transaction history page you can view details of the transactions. In case it is a transaction where a cheque had been issued by you a copy of the same would also be available. You can also print the copy of the cheque.
The primary account is the default account used for your IndusNet transactions. You can select and set any of your operative rupee accounts as the primary account.
Nicknames are customized names that you can give to your account for your own convenience.
Through the option of account Inquiry you can see a log of all transactions (financial and non financial) done by you on any particular date that you logged into IndusNet.
Manage My Account is a one of a kind facility giving you the freedom to modify your relationship with the bank.
Through Manage My Account you can:
- Update your Personal details
- Upgrade your accounts and Debit cards
- Choose your Debit Card & IndusNet Transaction Limits
- Link deposits to your accounts
- Customise alerts to be delivered on SMS, Email and IndusNet
This facility is currently provided free of charge. Though there would be certain charges for certain services provided through this service. Please refer to the Schedule of Charges to know more on any applicable charge.
You can transfer funds between any of your transaction accounts i.e. between your savings and current accounts. You can also transfer to pre-designated 3rd party accounts (Inter or Intra branch).
Your transfers get processed instantly. Third Party Transfers can be scheduled for future dates.
Using the Add Beneficiary option you can register either another IndusInd account or an account with another bank for transfers.
The daily limit and per transaction limit as displayed in the limit Inquiry is applicable for transfer amounts.
Through IndusNet you can use two routes to transfer funds to accounts in other banks in India:
- National Electronic Fund Transfer (NEFT): Make funds transfer requests online to an account in another bank. Funds are transferred to the credit account with the other participating bank using RBI's NEFT service. RBI acts as the service provider and transfers the credit to the other bank's account
- Real Time Gross Settlement (RTGS):You can make online fund transfers via the RTGS system
Yes. You would even be able to create a frequency of such payments by selecting the Recurring Option & setting the Transaction Date in the Funds Transfer section.
There is no charge for the e transfers service.
RTGS (Real Time Gross Settlement) is a payment system launched by the RBI in which payment instructions are transferred instantaneously to a beneficiary holding an account with a bank branch which is registered for RTGS by the RBI.
You need to transfer a minimum of INR 200, 000 in a single fund transfer transaction to avail of the RTGS facility.
Debit from the account will be made online and the transfer will be done on the same day. A client will be unable to do a transfer if it is done post the cut off time that day. Cut off times as below:
RTGS : Available 24*7
NEFT: Available 24*7
Based on selection of location and bank name, there will be a list of participating branches displayed. In case, the required branch appears in the list, the same indicates that the branch participates in RTGS.
There is no charge for the RTGS service.
No.Based on a simple search option of location, bank & branch, The IFSC code will automatically be populated.
The bank will credit the funds back to your account with appropriate return reason as received from the beneficiary bank
View & Pay is an extremely simple, convenient and secure way to view and pay your bills. Through this service you can view and pay your electricity, telephone, cellular, insurance and other bills using your IndusInd Bank Account. You can do all this from the comfort of your house or office, over the Internet - any time, any place.
Paying bills with View & Pay simplifies your life. Your payments are made quickly and conveniently, and you no longer have to track multiple utility bills, write multiple checks or balance your check book.
If you are registered on IndusNet you can use the BillPay service. Once logged in you can go to the Bill Payment Tab and add all your Billers. You can then check the due amount on each of your bills, and click on payment option to make automatic payment using your IndusInd Bank Account.
After registration you can log into your account and start adding billers. Subject to your providing correct biller details all future bills raised within a week of your biller addition date will start getting raised in your account.
Subject to correct submission of the biller details by you, all your future bills that are raised within 1 week of your biller addition date, will start getting raised in your account. If any of your biller addition gets rejected, you will be able to view the status when you log in. In case of payment only type billers the biller does not need to be registered, an instant payment can be made to him.
You will receive an e-mail/sms alert every time your bill is received.
Login into your account, check the amount and make a payment by clicking on the auto-Instant pay button.
You can
Pay bills by clicking on the auto-instant pay button.
- All the details from your bill are automatically captured, you can validate and click on the submit button
- This will take you to a secure payment gateway, where you will have to provide your IndusInd Bank Account details
- You will get a confirmation immediately on transacting on whether the transaction has been approved
You can use any of your IndusInd Bank accounts.
To ensure that your payments arrive before a due date and to avoid late payment charges, you need to make your payment at least 3 working days before the bill due date.
The biller specific terms are clearly indicated on the biller page when you are validating the Instant pay screen. Please adhere to them strictly. Where billers do not entertain late payments, any payment made by you after due date is liable to be rejected by the biller with attendant penalties.
On payment of the bill your account will get immediately debited online and the payment is sent to the utility company by the next working day. The same will get credited to your utility account in 3 working days time.
Yes, you can pay someone else's bill through IndusInd Billpay.
When your payment has been successfully made, you get a reference number for your transaction. Your IndusInd Bank Account statement will also include the details of your transaction under Instant pay transaction. This amount will be inclusive of the processing fee charged for each transaction.
Yes, you can pay your bills from any location through internet.
Please ensure you have free/unutilised credit limit in your account to make the payment otherwise the transaction will not get authorised.
You will continue to receive your physical bill even after registering for this service with us.
IndusInd Billpay has no way to stop a payment after it has been processed. You should contact your biller.
View & Pay employs the best-in-class security so that the transactions done through the View & Pay service are secure. View & Pay uses Secure Socket Layers (SSL) data encryption. Using SSL ensures that the information you exchange with IndusInd BillPay is never transmitted over the Internet unencrypted and cannot be viewed by unauthorised individuals. View & Pay uses SSL to protect users from unauthorized tampering or viewing of their account and billing information. This encryption is done using 128-bit RC4 encryption.
This facility is currently provided free of charge.
Alerts are IndusNet notifications that the bank will send you. These can be received on your welcome screen, to your email account, or to your mobile phone. In the Alerts section, you can select the kind of alerts you wish to receive, and on which channel.
- Account related alerts
- Bill Payment alerts
- Alerts on IndusNet activities
You can change your email & mobile phone details from the "Manage Relationship" section.
No! Please do not reply to any of the alerts that are sent to your registered email address.
This service is currently provided free of charge.
The requests that can be placed online are:
- Stop Cheque Payment
- Cheque Book Request
- Demand Draft Request
- Fixed Deposit Opening Request
- Status of Inward clearing Instruments
- Charge Plan Request
- Account Statement Request
- E-statement Registration Request
- Mobile Alerts Registration Request
- Cheque Pick up
- Deposit Maturity Change Request
- Sweep In Deposit
- Notification of lost or stolen card
- Debit Card Activation Request
- Debit Card Modification Request
- Upgrade Card
- Link Accounts
- Redeem Points
- Upgrade Limits
- Profile Change Request (Primary/Linked Customer ID)
- Email & Mobile
- PAN & DOB
- Customer Address
- Account Address
- Grouping of customer id request
- IndusNet Limit Change Request
- Delink Customer ID
IndusNet provides you with the facility to book your fixed deposits online. Through the "Service Request" option you can create your fixed deposits.
The fixed deposit advice will reach you at your mailing address 7 working days from the date of placing the request on IndusNet
This facility is currently not available through IndusNet though you can change the maturity instructions of your deposit online.
When your Fixed Deposit request is submitted, you will receive a Unique Reference Number. Your new Fixed Deposit will also be listed in your account statements and will reflect in the transaction history of your funding account. In addition there will be a mail in your IndusNet Mailbox confirming the same.
Your stop payment will be done instantly. A confirmation message of the same would be sent to you through the registered email and SMS.
This service is currently provided free of charge.
The doorstep banking co-ordinator from the nearest Indusind Bank branch will contact you to take the request forward. The timing of the cash delivery will be communicated by the Doorstep Banking co-ordinator.
When your request is submitted you will receive a unique reference number confirming the same. You can track the status of your requests in the "Service Request" section. When your request is processed, you will receive a notification on IndusNet, Email & SMS confirming the same and it will also reflect in the transaction history of your funding account.
Your daily IndusNet transaction limits apply for Doorstep Banking as well.
This service is currently provided free of charge.
You can either
- Visit our branches or ATMs
- Write to us through IndusNet
- Call our contact center at call our Contact Center from Monday to Saturday between 8:00 am to 11:00 pm
- Mumbai Customers : (022) 4406 6666
- Customers with MTNL/BSNL Numbers : 1860 267 7777
- Other Customers : 1800 209 0061
Please check the BRANCH/ATM Locator to find the branch/ATM closest to you.
Others
KYC For Banking Customers
KYC will be carried out at the following stages:
- Opening a new account
- Opening a subsequent account where documents as per current KYC standards not been submitted while opening the initial account
- Opening a Locker Facility where these documents are not available with the bank for all the Locker facility holders
- When the bank feels it necessary to obtain additional information from existing customers based on conduct of the account
- When there are changes to signatories, mandate holders, beneficial owners etc
KYC will also be carried out in respect of non-account holders approaching the bank for high value one-off transactions like Drafts, Remittances etc
The Bank is required to refuse to open the account (if you are a prospective customer) or discontinue its relationship with you citing non-providing of KYC information / documents (if you are an existing customer).
Money Laundering refers to conversion of money illegally obtained to make it appear as if it originated from a legitimate source. Money laundering is being employed by launderers worldwide to conceal criminal activity associated with it such as drugs / arms trafficking, terrorism and extortion. All crimes that produce a financial benefit give rise to money laundering.
The first step in the laundering process for criminals is to get their money into an account with a Bank, often using a false identity and address. The funds so deposited will be transferred to other accounts locally or abroad or used for buying goods or services.
These transactions would appear to be like any legally earned money and becomes difficult to trace it back to its criminal past. Banks under law should not only prevent this, but should stop criminals who wish to use the banking channel to launder the ill-gotten money from illegal / criminal activities
A key defense against money laundering is to prevent accounts being opened in false identities. Anyone wishing to open an account will therefore be asked for proof of their identity and address. These documents have to be essentially obtained irrespective of the type of account to be opened and the purpose for which the account is opened for.
The fact that these documents are asked for opening of account does not mean that you are suspected of money laundering. Criminals try to appear to be normal lawabiding customers, for example they may try to open a number of accounts using small amounts of money. Hence it is necessary to identify all prospective account holders or customers. Any body including a criminal could falsely use your identity, if these identity documents are not obtained.
- Under the Prevention of Money Laundering Act (PMLA) 2002, and the Rules thereof, the banks are required to report certain transactions to the nominated agency.
- Under regulatory instructions issued by the Reserve Bank of India in consultation with the Government of India and Indian Bank’s Association:
- Demand drafts, mail transfers and travelers cheques for Rs. 50,000/- and above can be issued only by debit to customer’s account or cheque etc, and not against cash payment
- Demand drafts, mail transfers and travelers cheques for Rs. 50,000/- and above can be paid by banks only by credit to customer’s account or through other banking channels and not cash
Your contact point in the Bank will be the Branch with which your account is opened.
As regard to documentation please refer Account Opening Form, which is available at our Branches or on our website www.indusind.com . For further clarification kindly meet any of our Customer Service Executives at the Branch or call in our toll free no. 1860 267 7777 or 1800 2090061
- You can help prevent crime, tax evasion and the laundering of the proceeds of such crime or evasion by being patient and co-operating when a Bank staff asks you to provide documents to prove your identity / address.
- You can also help prevent crime against yourself and others by maintaining confidentiality of your account details and identity documents
Important Information Regarding GST
‘GST’ stands for “Goods and Services Tax”, and is a comprehensive indirect tax levy on manufacture, sale and consumption of goods as well as services at the national level. It replaces all the indirect taxes, hitherto, levied on goods and services by the Central Government through central legislations and by various State Governments through their respective State legislations.
It is a destination based tax on consumption of goods and services. It is levied at all stages right from manufacture up to final consumption with credit of taxes paid at previous stages available as setoff. In a nutshell, only value addition will be taxed and burden of tax is to be borne by the final consumer.
The GST replaces the following taxes:
- Service Tax]
- Excise duty
- State VAT
- Central Sales Tax
- Luxury Tax
- Entry Tax (all forms)
- Entertainment and Amusement Tax (except when levied by the local bodies)
- Taxes on advertisements
- Purchase Tax
- Taxes on lotteries, betting and gambling
- State Surcharges and Cesses so far as they relate to supply of goods and services
- Excise duty levied under the Medicinal & Toiletries Preparation Act
- Countervailing duty in lieu of excise duty
- Special additional duty of customs
- Surcharge and Cesses (relating to supply of goods and services).
The GST Council shall make recommendations to the Union and States on the taxes, cesses and surcharges levied by the Centre, the States and the local bodies which may be subsumed in the GST.
HSN (Harmonised System of Nomenclature) code shall be used for classifying the goods under the GST regime. Services will be classified as per the Services Accounting Code (SAC).
Supply of goods and/or services is the taxable event under GST. Central Goods and Service Tax (‘CGST’) & State Goods and Service Tax (‘SGST’) or Union Territory Goods and Service Tax (‘UTGST’) will be levied on intra-state supplies while Integrated Goods and Service Tax (‘IGST’) will be levied on inter-state supplies.
- A person who carries a business in India or in any state of India except Jammu and Kashmir; he would be taxable person or he is required to take registration under the Act
- Who are already registered under Excise, Service Tax & VAT, they are taxable person too.
- Central Government, State Government & local authorities are taxable person except for the activities which are specified in the law.
Under the GST regime, tax is payable by the taxable person on the supply of goods and/or services. Liability to pay tax arises when the taxable person crosses the turnover threshold of Rs. 20 lakhs (Rs. 10 lakhs for North Eastern & Special Category States) except in certain specified cases where the taxable person is liable to pay GST even though he has not crossed the threshold limit. The CGST / SGST / UTGST and IGST are payable at the rates specified in the Schedules to the respective Acts.
As far as the consumer is concerned, the GST is included in the invoice and the same shall have to be paid to the supplier of goods or services. This process was the same when service tax was charged till June 30, 2017.
Any person should take a Registration, within thirty days from the date on which he becomes liable to registration, in such manner and subject to such conditions as may be prescribed.
No. Every person who is liable to take a Registration will have to get registered separately for each of the States where he has a business operation and is liable to pay GST.
No. GSTN shall migrate all such assesses/dealers to the GSTN and shall issue GSTIN and password. They will be asked to submit all requisite documents and information required for registration in a prescribed period of time.
Every person who has units in the SEZ location or is a SEZ developer shall make a separate application of registration as a business vertical distinct from other units which are located outside the SEZ location. Multiple units in the same SEZ may obtain a single registration.
The time of supply of services generally shall be as below:
- If invoice is raised within 30 days (45 days in case of services supplied by an insurer or a banking company or a financial company, including a non-banking financial company), then time of supply shall be earliest of the following:
- The date of issue of invoice or
- Date of receipt of payment
- If invoice is not raised within prescribed period as mentioned above, then time of supply shall be earliest of the following:
- The date of provision of service or
- Date of receipt of payment
The time of supply of services in cases other than (a) and (b) shall be the date on which the recipient shows the receipt of services in his books of account. Provided that where supplier receives an amount up to INR 1000 in excess of the amount indicated in the tax invoice in respect of taxable service, he may opt to pay GST on the date of issue of invoice for such excess amount.
The time of supply of additional value of supply by the way of interest, late fees or penalty for delayed payment of any consideration shall be the date on which the supplier receives such additional payment.
What is time of supply of service in case of tax payable under reverse charge?
- The date on which the payment is made or the date of payment as entered in the books of accounts of the recipient; or
- The date immediately following sixty days from the date of issue of invoice or any other document by the supplier.
The value of taxable supply of goods and services shall ordinarily be ‘the transaction value’ which is the actual price paid or payable, when the parties are not related and price is the sole consideration. Value of supply between distinct or related person shall be open market value of supply. However, where the recipient is eligible for full Input Tax Credit (‘ITC’), invoice value shall be deemed to be the open market value. The Act and rules thereof provide for various inclusions and exclusions from the ambit of transaction value.
Payment can be done by the following methods:
- Through debit of Credit Ledger of the tax payer maintained on the Common Portal – only tax can be paid. Interest, Penalty and Fees cannot be paid by debit in the credit ledger. Tax payers shall be allowed to take credit of taxes paid on inputs and utilize the same for payment of output tax. However, no ITC on account of CGST shall be utilized towards payment of SGST and vice versa. The credit of IGST would be permitted to be utilized for payment of IGST, CGST and SGST in that order.
- In cash by debit in the Cash Ledger of the tax payer maintained on the Common Portal. Money can be deposited in the Cash Ledger by different modes, namely, E-Payment (Internet Banking, Credit Card, Debit Card); Real Time Gross Settlement (RTGS)/ National Electronic Fund Transfer (NEFT); Over the Counter Payment in branches of Banks Authorized to accept deposit of GST.
- If there are any discrepancies noticed in relation to electronic cash ledger or electronic credit ledger the same shall be communicated to the concerned jurisdiction through a common portal in Form GST PMT - 04
Payment of taxes by the normal taxpayer is to be done on monthly basis by the 20th of the succeeding month. Cash payments will be first deposited in the Cash Ledger and the taxpayer shall debit the ledger while making payment in the monthly returns and shall reflect the relevant debit entry number in his return. Payment can also be debited from the Credit Ledger.
Input tax means the central tax (‘CGST’), State tax (‘SGST’), integrated tax (‘IGST’) or Union territory tax (‘UTGST’) charged on supply of goods or services or both made to a registered person. It also includes tax paid on reverse charge basis and integrated tax goods and services tax charged on import of services. It does not include tax paid under composition levy.
Following four conditions are to be satisfied by the registered taxable person for availing ITC:
- He is in possession of tax invoice or debit note or such other tax paying documents as may be prescribed;
- He has received the goods or services or both;
- The supplier has actually paid the tax charged in respect of the supply to the government; and
- He has furnished the return under section 39
Yes, the recipient can take ITC. But he is required to pay the consideration along with tax within 180 days from the date of issue of invoice. This condition is not applicable where tax is payable on reverse charge basis.
The credit mechanism under GST have certain rules like Input CGST should be used for paying Output CGST first and only then it is allowed to be utilised against Output IGST Liability. Similarly, Input SGST can be used for paying Output SGST first and only then it is allowed to be utilised against Output IGST Liability. IGST should be used first for output IGST liability, then it should be used against output CGST liability and at last it should be used against SGST liability
A registered person shall not be entitled to take input tax credit beyond the month of September of the following financial year to which invoice pertains or date of filing of annual return, whichever is earlier. The underlying reasoning for this restriction is that no change in return is permitted after September of next financial year. If annual return is filed before the month of September then no change can be made after filing of the annual return.
A normal registered taxpayer has to file the inward/outward supply details transaction wise in relation to various types of supplies received/made in a month, namely inward/outward supplies from/to registered persons, inward/outward supplies from/to unregistered persons (consumers), details of Credit/Debit Notes, zero rated, exempted and non-GST supplies, exports, and advances received in relation to future supply.
The basic principle of GST is that it should effectively tax the consumption of such supplies at the destination thereof or as the case may be at the point of consumption. So place of supply provision determine the place i.e. taxable jurisdiction where the tax should reach. The place of supply determines whether a transaction is intra-state or inter-state. In other words, the place of Supply is required to determine whether a supply is subject to SGST/UTGST plus CGST in a given State or Union territory else would attract IGST if it is an inter-state supply.
Yes, the registered taxable person shall be entitled to such credit and it will get credited to his electronic credit ledger subject to certain conditions as prescribed.
Yes, the details to be captured in the invoice, credit note, debit note etc. have been specifically provided in invoice rules as released by the GST council.
FATCA FAQs
FATCA stands for Foreign Account Tax Compliance Act (FATCA), which was introduced by the US Government in October 2009, but became law as part of the Hiring Incentives to Restore Employment (HIRE) Act on March 18, 2010. FATCA is aimed at ensuring that US persons with financial assets outside of the US are pay US tax.
Under FATCA, Foreign Financial Institutions (FFIs) have to report accounts of US persons to the US Inland Revenue Service (IRS) either directly or indirectly. They have the option of entering into agreements directly with IRS, or through the Inter-Governmental Agreements (IGA’s) signed by their home countries.
Government of India has signed an Inter-Governmental Agreement (IGA) with the Internal Revenue Service, Government of U.S.A.
The objective of FATCA is to detect, deter, and discourage offshore tax evasion by U.S. citizens or residents by requesting information about U.S. persons to increase transparency for the U.S. Internal Revenue Service (IRS) and imposing a withholding tax where the applicable documentation and reporting requirements are not met. FATCA’s provisions are designed with incentives for FFIs and USWAs to provide information to the IRS on financial accounts held by U.S. persons:
- Directly investing outside the U.S.; or
- Indirectly investing through a non-U.S. entity
FATCA requires US persons including individuals who live outside the United States, to report their financial accounts held outside of the United States, and requires non- US financial institutions to report details of their US clients to the relevant tax authorities.
A U.S. person is:
- A citizen or resident of the United States (including a green card holder).
- A partnership, corporation, estate, trust incorporated or created under U.S. law (U.S. incorporated entity)
- A non U.S. incorporated entity having shareholding of 10% or more or ownership (Substantial Ownership) held by
- An Individual who was born in the U.S. or is a U.S. citizen or a U.S. resident (including green card holder) or has a U.S. address or U.S. mailing address or U.S. ‘in care of’ or ‘hold mail’ as a sole address.
- A U.S. incorporated entity as described above.
An FFI is a foreign financial institution, which is any non-U.S. entity that:
- Accepts deposits in the ordinary course of a banking or similar business;
- As a substantial portion of its business, holds financial assets for the account of others;
- Is engaged (or holding itself out as being engaged) primarily in the business of investing, reinvesting, or trading in securities, partnership interests, commodities, or any interest in such securities, partnership interests, or commodities;
- Is a specified insurance company; or
- Is a holding company or treasury center
Generally non-U.S. entities such as banks, broker/dealers, insurance companies, hedge funds, securitization vehicles, and private equity funds will be considered FFIs
The Government of India has entered into an Inter-Governmental Agreement (IGA) with Internal Revenue Service (Government of US) for implementation of FATCA. In view of this all banks and other financial institutions in India will be required to identify, establish and report information on financial accounts held directly or indirectly by US persons.
FATCA legislation will affect both personal and business customers who are treated as ‘US Person’ for US tax purposes. The FATCA legislation will also affect certain types of businesses with US owners.
The Bank must:-
- Undertake certain identification and due diligence procedures involving our new customers
- Fulfill reporting requirements as may be defined by RBI/tax authorities in this regard. Therefore we would be reviewing our existing customer base to confirm our customers’ FATCA status, and where necessary we may contact our customers for further information and documentation.
If you are a US person you may have to submit some additional information and documentation. Please visit the IRS web site in this regard.
In general FATCA does not apply to non- US persons. However, if any one of the indicators mentioned below is found, you may be required to provide additional information/documentation to determine if you are a US Person under FATCA.
- US citizenship or US residence
- US place of birth
- US address including US PO boxes
- US telephone number
- Repeating payment instructions to pay amounts to a US address or an account maintained in the US
- Current Power of Attorney or signatory authority granted to a person with a US address
- If ‘Care of’ or ‘Hold mail’ address which is the sole address for the account holder
A joint account that has one US owner is treated as a US account and the entire account is subject to reporting as US person.
Yes. FATCA covers a wide range of entities and not just US incorporated entities
FATCA is an ongoing process. If there is a change in the account information, we may be required to contact you to obtain additional information/documentation.
Indus Mobile Credit Card
To view ‘My Preferences’, kindly navigate to the ‘Credit Card Details’ page and click the ‘i’ icon on the Credit Card Image. Under this section, you can check your
- Preference for Domestic/International Transactions - ‘Enabled’ or ‘Disabled’
- Preferred Mailing Address - ‘Current Residence’ or ‘Office’
- Statement Preference - ‘Paper’ or ‘Email’ statements.
As part of this Service Request category, you can
- Set/Reset Credit Card PIN on-the-go
- Temporarily block/unblock your Credit Card instantly
- Permanently block your Credit Card on-the-go
- Request for a Replacement Card
IMPORTANT: You can raise a Replacement Card request on the IndusMobile App only after blocking your Credit Card.
If you use the Temporary Block Credit Card Service, the selected Credit Card will be blocked temporarily and you will not be able to use the Card for any purchases and cash withdrawals.
If you have blocked your Credit Card temporarily, Unblock Credit Card option will be displayed under Card Related Requests category in the Service Request section. You can unblock your Credit Card instantly using this service request.
As part of this Service Request category, you can
- Update Email ID/Mobile No. for Credit Card
- Update Address for Credit Card or
- Change Mailing Address Preference from Residence to Office or vice-versa
As part of this Service Request category, you can control the usage on your card by enabling/disabling Domestic or International Transactions on your Card.
You can enable/disable all transactions at Domestic/International Merchants on the chosen Card using this Service Request, on the go. However, we recommend you keep your Domestic/International Transaction Preference enabled to avoid transaction declines.
As part of this Service Request category, you can
- Request for e-Statements
- Switch to Email Statements Only
Rupees 2000 Denomination Banknotes
The ₹2000 denomination banknote was introduced in November 2016 under Section 24(1) of RBI Act,1934 primarily with the objective to meet the currency requirement of the economy in an expeditious manner after withdrawal of the legal tender status of all ₹500 and ₹1000 banknotes in circulation at that time. With fulfilment of that objective and availability of banknotes in other denominations inadequate quantities, printing of ₹2000 banknotes was stopped in 2018-19. A majority of the ₹2000 denomination notes were issued prior to March 2017 and are at the end of their estimated life-span of 4-5 years. It has also been observed that this denomination is not commonly used for transactions. Further, the stock of banknotes in other denominations continue to be adequate to meet the currency requirement of the public.
In view of the above, and in pursuance of the “Clean Note Policy” of the Reserve Bank of India, it has been decided to withdraw the ₹2000 denomination banknotes from circulation.
It is a policy adopted by RBI to ensure availability of good quality banknotes to the members of public.
Yes. The ₹2000 banknote will continue to maintain its legal tender status till 30th Sept 2023
Yes. Members of the public can continue to use ₹2000 banknotes for their transactions and also receive them in payment. However, they are encouraged to deposit and/or exchange these banknotes on or before September 30, 2023.
Members of the public may approach bank branches for deposit and/or exchange of ₹2000 banknotes held by them.
The facility for deposit into accounts and exchange for ₹2000 banknotes will be available at all banks until September 30, 2023. The facility for exchange will be available also at the 19 Regional Offices ROs of RBI having Issue Departments until September 30, 2023.
Deposit into bank accounts can be made without restrictions subject to compliance with extant Know Your Customer (KYC) norms and other applicable statutory / regulatory requirements.
Members of the public can exchange ₹2000 banknotes upto to a limit of ₹20,000/- at a time.
Yes, exchange of ₹2000 banknotes can be made through BCs upto a limit of ₹4000/- per day for an account holder.
To give time to the banks to make preparatory arrangements, members of the public are requested to approach the bank branches or 19 Regional Offices (ROs) of RBI having issue departments from May 23, 2023 for availing exchange facility.
No. A non-account holder also can exchange ₹2000 banknotes up to a limit of ₹20,000/- at a time at any bank branch.
Deposit into accounts can be made without restrictions. The ₹2000 banknotes can be deposited into bank accounts and cash requirements can be drawn thereafter, against these deposits.
No. The exchange facility shall be provided free of cost.
To make the entire process smooth and convenient for the public, a period of over four months has been given for deposit and/or exchange of ₹2000 banknotes. Members of the public, are therefore, encouraged to avail this facility at their convenience within the allotted time and can deposit/ exchange the money till 30th Sep 2023
For redress of grievance in case of deficiency of service, the complainant / aggrieved customer may first approach the bank. In case of no response within a period of 30 days after lodging of the complaint or if the complainant is not satisfied with the response/resolution given by the bank, the complainant can lodge the complaint under the Reserve Bank - Integrated Ombudsman Scheme (RB-IOS), 2021 at the Complaint Management System portal of RBI (cms.rbi.org.in).
Yes, deposit and exchange facility is available at all IndusInd Branches.
Exchange facility for ₹2000 banknotes is available to both, IndusInd and Non-IndusInd Bank customer.
Yes, RBI has issued various circulars and FAQs on this. Please refer the official website of RBI to read the circulars and FAQs. The FAQs issued by RBI are available at below link: https://www.rbi.org.in/Scripts/FAQView.aspx?Id=157
To open an NRE / NRO Savings Account, all you need to do is:
- Download the application form (Please note that you would need to have Adobe Acrobat Reader installed on your system)
- Complete the application form
- Attach a photograph
- Enclose photocopies of the passport showing your passport and person details*
- Attach a photocopy of your visa / resident permit / work permit*
- Attach one document indicating your mailing address as mentioned on the application form.*
* All the documents need to be self-attested. The above account opening form along with documents can be submitted at your nearest IndusInd Bank in India
|
NRE Account |
NRO account |
Currency of funding |
To be funded using foreign currency / foreign currency sources (other NRE/FCNR Accounts) |
Can be funded using foreign currency or Indian Rupees |
Tax implication |
Both the principal amount and the interest earned on it is exempt from tax in India |
The interest earned is subject to Tax Deducted at Source (TDS) of 30%+ surcharge + education cess |
Repatriation |
The funds in the account can be converted to foreign currency and taken back to any overseas location |
The principal amount is not freely repatriable. Conversion and transfer of funds in foreign currency is subject to certain restrictions |
Joint Account holders |
Can be held jointly along with either a NRI / PIO |
Can be held jointly with either a NRI / PIO or a Resident Indian |
Currency of maintenance |
The funds in the account are maintained in India in Indian Rupees |
The funds in the account are maintained in India in Indian Rupees |
To open an NRE / NRO Savings Account, all you need to do is:
- Download the application form (Please note that you would need to have Adobe Acrobat Reader installed on your system)
- Complete the application form
- Attach a photograph
- Enclose photocopies of the passport showing your passport and person details*
- Attach a photocopy of your visa / resident permit / work permit*
- Attach one document indicating your mailing address as mentioned on the application form*
* All the documents need to be selfattested. The above account opening form along with documents can be submitted at your nearest IndusInd Bank in India.
|
NRE Account |
NRO account |
Currency of funding |
To be funded using foreign currency / foreign currency sources (other NRE/FCNR Accounts) |
Can be funded using foreign currency or Indian Rupees |
Tax implication |
Both the principal amount and the interest earned on it is exempt from tax in India |
The interest earned is subject to Tax Deducted at Source (TDS) of 30%+ surcharge + education cess |
Repatriation |
The funds in the account can be converted to foreign currency and taken back to any overseas location |
The principal amount is not freely repatriable. Conversion and transfer of funds in foreign currency is subject to certain restrictions |
Joint Account holders |
Can be held jointly along with either a NRI / PIO |
Can be held jointly with either a NRI / PIO or a Resident Indian |
Currency of maintenance |
The funds in the account are maintained in India in Indian Rupees |
The funds in the account are maintained in India in Indian Rupees |
Yes the password must be at least 6 characters and include at least 1 number
Accounts
NRE Regular Saving Account
To open an NRE / NRO Savings Account, all you need to do is:
- Download the application form (Please note that you would need to have Adobe Acrobat Reader installed on your system)
- Complete the application form
- Attach a photograph
- Enclose photocopies of the passport showing your passport and person details*
- Attach a photocopy of your visa / resident permit / work permit*
- Attach one document indicating your mailing address as mentioned on the application form.*
* All the documents need to be self-attested. The above account opening form along with documents can be submitted at your nearest IndusInd Bank in India
|
NRE Account |
NRO account |
Currency of funding |
To be funded using foreign currency / foreign currency sources (other NRE/FCNR Accounts) |
Can be funded using foreign currency or Indian Rupees |
Tax implication |
Both the principal amount and the interest earned on it is exempt from tax in India |
The interest earned is subject to Tax Deducted at Source (TDS) of 30%+ surcharge + education cess |
Repatriation |
The funds in the account can be converted to foreign currency and taken back to any overseas location |
The principal amount is not freely repatriable. Conversion and transfer of funds in foreign currency is subject to certain restrictions |
Joint Account holders |
Can be held jointly along with either a NRI / PIO |
Can be held jointly with either a NRI / PIO or a Resident Indian |
Currency of maintenance |
The funds in the account are maintained in India in Indian Rupees |
The funds in the account are maintained in India in Indian Rupees |
NRO Regular Saving Account
To open an NRE / NRO Savings Account, all you need to do is:
- Download the application form (Please note that you would need to have Adobe Acrobat Reader installed on your system)
- Complete the application form
- Attach a photograph
- Enclose photocopies of the passport showing your passport and person details*
- Attach a photocopy of your visa / resident permit / work permit*
- Attach one document indicating your mailing address as mentioned on the application form*
* All the documents need to be selfattested. The above account opening form along with documents can be submitted at your nearest IndusInd Bank in India.
|
NRE Account |
NRO account |
Currency of funding |
To be funded using foreign currency / foreign currency sources (other NRE/FCNR Accounts) |
Can be funded using foreign currency or Indian Rupees |
Tax implication |
Both the principal amount and the interest earned on it is exempt from tax in India |
The interest earned is subject to Tax Deducted at Source (TDS) of 30%+ surcharge + education cess |
Repatriation |
The funds in the account can be converted to foreign currency and taken back to any overseas location |
The principal amount is not freely repatriable. Conversion and transfer of funds in foreign currency is subject to certain restrictions |
Joint Account holders |
Can be held jointly along with either a NRI / PIO |
Can be held jointly with either a NRI / PIO or a Resident Indian |
Currency of maintenance |
The funds in the account are maintained in India in Indian Rupees |
The funds in the account are maintained in India in Indian Rupees |
Yes the password must be at least 6 characters and include at least 1 number
- Login to IndusMobile, tap on the ‘Brand Icon’ and go to the ‘Payments Tab’
- Tap on the ‘Bharat QR’ option
- Choose ‘Scan the Merchant’s QR Code’ or enter the Merchant’s ID
- Enter the amount, select the Debit Card through which you wish to pay, and authenticate the payment with an OTP
- The merchant receives the amount you wanted to pay
- With anyone who uses the BHIM App and has generated their Bharat QR; you can scan their QR Code to make a payment
- Wherever you see Bharat QR or mVISA displayed at a Retail Outlet; you can pay via the app
- Utility merchants like Tatasky, Idea Mobile, Mahanagar Gas etc. also accept payments via mVISA/Bharat QR, and you can make payments to them as well
- Currently, we have launched Bharat QR only for our VISA Debit Cards
- But, we will be extending this facility to our Rupay Debit Cards very soon
- Currently, we have launched Bharat QR only for our VISA Debit Cards
- But, we will be extending this facility to our Credit Cards very soon
- Usually this is due to network issues and your funds are generally reversed within 10 working days
- Else, you can raise a complaint by calling us at 18005005004 or by writing to us at reachus@indusind.com with the details of your transactions
- Please mention the amount, date & time along with the reference number
- You can raise a dispute request by calling us at 18005005004 or by writing to us at reachus@indusind.com with the details of your transaction
- Please mention the amount, date & time along with the reference number
It is currently available on iOS above 8 and Android phones above 5.1
- Currently, there is a per transaction limit of Rs. 1L/ transaction
- Your overall daily Debit Card and Mobile Banking limits also apply
MAB is primarily referred to as the mechanism of providing necessary Infrastructure and facilitating payment for goods and services purchased through medium of a card.
- Issuer: The Bank that issues cards.
- Cardholder: Customer / Non customer using card for making payment.
- Merchant: Entity which accepts payments through cards.
- Acquirer: The Bank that provides necessary infrastructure to the
- Merchant to accept payment, maintains relationship and facilitate acceptance payments thru cards.
- Intermediary Agency: Visa or MasterCard who facilitate interbank settlements.
- Merchant Discount Rate (MDR): The commission charged by the acquirer (INDUSIND) to the Merchant (Trader/Service Provider). It is also termed as Merchant Service Fee (MSF).
- Interchange: The incentive paid by the Acquirer Bank to the Card Issuer Bank for promoting payment through cards.
- Scheme Fee: The service fee paid to intermediary agencies i.e.
- MasterCard or Visa for facilitating interbank payments.
- On -Us Transaction: Where issuer and acquirer is same (e.g. INDUSIND Debit Card on INDUSIND POS terminal)
- Off-Us Transaction: Where issuer and acquirer are different (e.g. Other bank’s debit/credit card on our POS terminals.)
A. Cardholder
- Need not carry cash, which is risky.
- Saves time and money in visiting bank branch / ATM to withdraw money and spend the same at merchant outlet, who has to again deposit the same in Bank.
- The time saved results in lower cost and higher productivity as time saved can be gainfully utilised.
B. Merchant
- Cash handling is avoided.
- Efficient transaction processing
- The customers have tendency to higher purchases/impulsive buying while using the card than cash, thus more sales and higher profits.
- The customer stickiness to merchant increases due to the facility.
- Better record keeping of sale and inventory
- The facility can also have provision for customer loyalty points which are widely used to attract the customer to the outlet repeatedly.
- PSTN.
- Portable GPRS.
- Digital POS.
- Bharat QR
- KYC Compliance. Merchant needs to provide necessary documents regarding the proof of business, address proof, photo identity proof of the proprietor/partner/key promoters etc.
- Availability of Connectivity PSTN with STD at Merchant Location (Cost to be borne by the Merchant). If land line is not available, GPRS either desktop or portable as per the customers’ choice.
- Opening/identification of account for settlement of transactions with INDUSIND.
- Offer letter Acceptance of Merchant Discount Rate (MDR) by the Merchant offered by Bank.
- Merchants’ consent for execution of Merchant Establishment
- Agreement between Bank and Merchant. POS terminal shall be installed only after the execution of ME agreement.
Merchant can contact the IndusInd Branch or LACR Business Team
No, merchant is not required to pay anything towards cost of terminal. POS terminal is installed at absolutely free of cost. The cost for procurement of terminal and also the maintenance of terminal is borne by the Bank.
Do’s
- Merchants must accept all cards when properly presented as payments for transactions.
- Bring to the notice of the bank any fraudulent activities.
- In case of any problems with the machine, call the helpline number or write @ possupport@IndusInd.com
- Perform settlement on POS terminal at-least once in a day; settlement may be done by merchant as many times as he wish. If not done amount shall not be credited in customer’s settlement Account.
Don’ts
- Merchant must not disclose details of the card or cardholders to any third party.
- Impose any extra charge or surcharge (unless expressly allowed by local law).
- Indulge in any fraudulent activity.
- No hidden costs.
- INDUSIND network is present across all geographies.
- Loan against Credit Card receivables
- Merchant has access to transactions done on his / her terminal(s) after logging in the application.
- Customized MIS at weekly/fortnightly/monthly intervals are made available.
- Merchant will have access to other products of INDUSIND.
Dynamic Currency Conversion, NFC(Tap N Pay),EMI
MAB is primarily referred to as the mechanism of providing necessary Infrastructure and facilitating payment for goods and services purchased through medium of a card.
- Issuer: The Bank that issues cards.
- Cardholder: Customer / Non customer using card for making payment.
- Merchant: Entity which accepts payments through cards.
- Acquirer: The Bank that provides necessary infrastructure to the
- Merchant to accept payment, maintains relationship and facilitate acceptance payments thru cards.
- Intermediary Agency: Visa or MasterCard who facilitate interbank settlements.
- Merchant Discount Rate (MDR): The commission charged by the acquirer (INDUSIND) to the Merchant (Trader/Service Provider). It is also termed as Merchant Service Fee (MSF).
- Interchange: The incentive paid by the Acquirer Bank to the Card Issuer Bank for promoting payment through cards.
- Scheme Fee: The service fee paid to intermediary agencies i.e.
- MasterCard or Visa for facilitating interbank payments.
- On -Us Transaction: Where issuer and acquirer is same (e.g. INDUSIND Debit Card on INDUSIND POS terminal)
- Off-Us Transaction: Where issuer and acquirer are different (e.g. Other bank’s debit/credit card on our POS terminals.)
A. Cardholder
- Need not carry cash, which is risky.
- Saves time and money in visiting bank branch / ATM to withdraw money and spend the same at merchant outlet, who has to again deposit the same in Bank.
- The time saved results in lower cost and higher productivity as time saved can be gainfully utilised.
B. Merchant
- Cash handling is avoided.
- Efficient transaction processing
- The customers have tendency to higher purchases/impulsive buying while using the card than cash, thus more sales and higher profits.
- The customer stickiness to merchant increases due to the facility.
- Better record keeping of sale and inventory
- The facility can also have provision for customer loyalty points which are widely used to attract the customer to the outlet repeatedly.
- PSTN.
- Portable GPRS.
- Digital POS.
- Bharat QR
- KYC Compliance. Merchant needs to provide necessary documents regarding the proof of business, address proof, photo identity proof of the proprietor/partner/key promoters etc.
- Availability of Connectivity PSTN with STD at Merchant Location (Cost to be borne by the Merchant). If land line is not available, GPRS either desktop or portable as per the customers’ choice.
- Opening/identification of account for settlement of transactions with INDUSIND.
- Offer letter Acceptance of Merchant Discount Rate (MDR) by the Merchant offered by Bank.
- Merchants’ consent for execution of Merchant Establishment
- Agreement between Bank and Merchant. POS terminal shall be installed only after the execution of ME agreement.
Merchant can contact the IndusInd Branch or LACR Business Team
No, merchant is not required to pay anything towards cost of terminal. POS terminal is installed at absolutely free of cost. The cost for procurement of terminal and also the maintenance of terminal is borne by the Bank.
Do’s
- Merchants must accept all cards when properly presented as payments for transactions.
- Bring to the notice of the bank any fraudulent activities.
- In case of any problems with the machine, call the helpline number or write @ possupport@IndusInd.com
- Perform settlement on POS terminal at-least once in a day; settlement may be done by merchant as many times as he wish. If not done amount shall not be credited in customer’s settlement Account.
Don’ts
- Merchant must not disclose details of the card or cardholders to any third party.
- Impose any extra charge or surcharge (unless expressly allowed by local law).
- Indulge in any fraudulent activity.
- No hidden costs.
- INDUSIND network is present across all geographies.
- Loan against Credit Card receivables
- Merchant has access to transactions done on his / her terminal(s) after logging in the application.
- Customized MIS at weekly/fortnightly/monthly intervals are made available.
- Merchant will have access to other products of INDUSIND.
Dynamic Currency Conversion, NFC(Tap N Pay),EMI
POS is the acronym for Point of Sales. A POS terminal is a machine installed at Merchant Establishment which enables the merchant to accept payments through payment cards (credit cards, debit cards etc.).The installation of POS machine at a merchant outlet reduces cash handling and enhances business revenue for merchants through increased spending option. It is a method of hassle free shopping for customers since they don’t need to carry cash with them.
- You need to be KYC Compliant and provide necessary documents regarding the proof of business, address proof, photo identity proof of the proprietor/partner/key promoters etc.
- Agreement between Bank and Merchant. POS terminal will be installed only after the execution of ME agreement.
- Need to be engaged in a business that is acceptable as per IndusInd Bank sourcing guidelines.
- Have an IndusInd Bank Current Account for settlement of transactions.
- Android POS
- Wireless and Portable GPRS POS
- mPOS
- UPI QR
- Bharat QR
- No, you are not required to buy the POS terminal. There is a nominal one time setup fee along with monthly rental and maintenance charge as per the terminal type opted for other than the transactional cost.
- We have attractive annual rental plans to choose from.
- EMI Acceptance
- UPI acceptance
- International Cards
- App & Portal
- Pay By Links
- Khaata and other Value Added Services
The whole on-boarding, activation and installation process takes 2-5 working days (may vary depending on the location)
IndusInd Bank accepts debit/credit and prepaid cards of all major schemes which includes
- Visa
- MasterCard
- Rupay
- American Express (on approval basis)
The Merchant discount rate is the fee that you have to pay to the Bank for processing the transactions done through IndusInd Bank POS. These are different for different type of cards. Our discount rates are extremely competitive and without any HIDDEN CHARGES.
We will settle the previous day’s transactions the next working day into your bank account and that too before 9 a.m.
- Latest Payment Technology
- Dedicated Customer Care of the highest Standard
- Competitive Pricing without any hidden charges.
- Wide range of POS Terminals to choose from.
- IndusInd Bank branch network is present across all geographies.
- Business Loans
- App for digital on boarding, tracking payments and avail host of Value Added Services.
Few points you should keep in mind while accepting cards are:
- Use your POS machine only for transactions related to business
- Do not refund in cash for purchases made with Card.
- Do not use your own Card in any scenario for self-credit
- Do not surcharge. Transaction must be done for actual amount/MRP only.
- Do not split cost of a single transaction between multiple receipts and transactions
- Transactions amount must include all charges and taxes levied to customer
- Provide goods and services to Cardholder immediately or provide invoice stating delivery arrangements basis which goods and services will be provided later on.
A. Cardholder
- Need not carry cash.
- Buy now Pay later through Easy EMI
- Earn loyalty point on spends through Credit/Debit Cards
- Utilize offers on Credit/Debit card provided by Issuing Bank and Merchant Partners.
B. Merchant
- No more risk of cash handling.
- Efficient transaction processing
- The customers have tendency to opt for higher purchases/impulsive buying while using the card rather than cash, thus more sales and higher profits.
- The customer stickiness to merchant increases due to the facility.
- Better record keeping of sale and inventory
Do’s
- Merchants must accept all cards when properly presented as payments for transactions.
- Bring to the notice of the bank any fraudulent activities.
- In case of any problems with the machine, call the helpline number 0226638000 or write to merchant@induind.com
Don’ts
- Merchant must not disclose details of the card or cardholders to any third party.
- Impose any extra charge or surcharge (unless expressly allowed by local law).
- Indulge in any fraudulent activity.
NFC technology lets businesses accept credit cards without swiping them. To accept mobile payments, you'll need an NFC-enabled credit card machine.
The two main security features to look for in a credit card machine and credit card processor are Payment Card Industry Data Security Standard (PCI-DSS) compliance and EMV capabilities. PCI-DSS is the industry standard for credit card processing and consists of several security measures, such as point-to-point data encryption. Although credit card processors have PCI-DSS as a part of their service, it is businesses' responsibility to make sure they are compliant in order to avoid hefty fees and protect sensitive information
Bharat QR is P2M (Person to Merchant) Mobile payment solution.
This solution is mutually derived among NPCI, Visa and MasterCard payment networks. Once the BQR codes are deployed on Merchant locations, user can pay the utility bills using BQR enabled mobile banking apps without sharing any user credentials to the merchant. It is a quick method of payment.
Bharat QR works as an alternate channel of payment, where cardholder has to download his/her bank’s Bharat QR enabled mobile banking app. User has to scan the Bharat QR code at Merchant store and select card to make payment. Once the payment is successful, both cardholder and merchant receive notification in mobile application for successful transaction.
Bharat QR product offers following benefits:
- No physical charge slip is generated; instead merchant gets the notification in his Bharat QR App. As a result, merchants are saved from the hassles of keeping the record of charge slips.
- Less instances of charge backs. As the customer himself initiates the payment, the occurrence of chargebacks is minimized.
Customer can make the payment by scanning the static/dynamic QR code as under:
Static QR Code
- Customer opens any Bank’s Bharat QR customer app or UPI app at his smart phone
- Customer scans the static QR code displayed at the billing counter or key in the numeric merchant ID.
- Customer enters the amount to be paid in Bharat QR/UPI app, and makes payment.
- Both Merchant and Customer receive notification in their respective apps.
- Merchant delivers the goods or services to customer.
Dynamic QR code:
- Merchant generates the dynamic QR code by entering the sale amount along with bill number in the Bharat QR Merchant app and presents it to customer for scanning.
- Customer scans the dynamic QR code check merchant details, amount and confirm payment.
- Both Merchant and Customer receive notification in their respective app.
- Merchant delivers the goods or services to customer.
In layman’s language a payment gateway is a system that works behind the scenes of Merchant’s website. It provides a mechanism to accept online payments through Credit Card/Debit Card/Net Banking, etc.
Payment Gateway transactions follows following three basic steps.
- The online checkout collects the customer’s payment details.
- The payment gateway safely transports the details via the processor.
- The Merchant’s processor processes the transaction with a reference to the payment type and issuer bank. Once approved the money, less TDR are paid into merchant payment account.
Please reach us at the helpline number 0226638000 or merchant@indusind.com.
We will get back to you.
Through Indusind PG facility you can accepts INR and multiple foreign currencies but settlement to the Merchant’s account is done in INR only.
MAB is primarily referred to as the mechanism of providing necessary Infrastructure and facilitating payment for goods and services purchased through medium of a card.
- Issuer: The Bank that issues cards.
- Cardholder: Customer / Non customer using card for making payment.
- Merchant: Entity which accepts payments through cards.
- Acquirer: The Bank that provides necessary infrastructure to the
- Merchant to accept payment, maintains relationship and facilitate acceptance payments thru cards.
- Intermediary Agency: Visa or MasterCard who facilitate interbank settlements.
- Merchant Discount Rate (MDR): The commission charged by the acquirer (INDUSIND) to the Merchant (Trader/Service Provider). It is also termed as Merchant Service Fee (MSF).
- Interchange: The incentive paid by the Acquirer Bank to the Card Issuer Bank for promoting payment through cards.
- Scheme Fee: The service fee paid to intermediary agencies i.e.
- MasterCard or Visa for facilitating interbank payments.
- On -Us Transaction: Where issuer and acquirer is same (e.g. INDUSIND Debit Card on INDUSIND POS terminal)
- Off-Us Transaction: Where issuer and acquirer are different (e.g. Other bank’s debit/credit card on our POS terminals.)
A. Cardholder
- Need not carry cash, which is risky.
- Saves time and money in visiting bank branch / ATM to withdraw money and spend the same at merchant outlet, who has to again deposit the same in Bank.
- The time saved results in lower cost and higher productivity as time saved can be gainfully utilised.
B. Merchant
- Cash handling is avoided.
- Efficient transaction processing
- The customers have tendency to higher purchases/impulsive buying while using the card than cash, thus more sales and higher profits.
- The customer stickiness to merchant increases due to the facility.
- Better record keeping of sale and inventory
- The facility can also have provision for customer loyalty points which are widely used to attract the customer to the outlet repeatedly.
- PSTN.
- Portable GPRS.
- Digital POS.
- Bharat QR
- KYC Compliance. Merchant needs to provide necessary documents regarding the proof of business, address proof, photo identity proof of the proprietor/partner/key promoters etc.
- Availability of Connectivity PSTN with STD at Merchant Location (Cost to be borne by the Merchant). If land line is not available, GPRS either desktop or portable as per the customers’ choice.
- Opening/identification of account for settlement of transactions with INDUSIND.
- Offer letter Acceptance of Merchant Discount Rate (MDR) by the Merchant offered by Bank.
- Merchants’ consent for execution of Merchant Establishment
- Agreement between Bank and Merchant. POS terminal shall be installed only after the execution of ME agreement.
Merchant can contact the IndusInd Branch or LACR Business Team
No, merchant is not required to pay anything towards cost of terminal. POS terminal is installed at absolutely free of cost. The cost for procurement of terminal and also the maintenance of terminal is borne by the Bank.
Do’s
- Merchants must accept all cards when properly presented as payments for transactions.
- Bring to the notice of the bank any fraudulent activities.
- In case of any problems with the machine, call the helpline number or write @ possupport@IndusInd.com
- Perform settlement on POS terminal at-least once in a day; settlement may be done by merchant as many times as he wish. If not done amount shall not be credited in customer’s settlement Account.
Don’ts
- Merchant must not disclose details of the card or cardholders to any third party.
- Impose any extra charge or surcharge (unless expressly allowed by local law).
- Indulge in any fraudulent activity.
- No hidden costs.
- INDUSIND network is present across all geographies.
- Loan against Credit Card receivables
- Merchant has access to transactions done on his / her terminal(s) after logging in the application.
- Customized MIS at weekly/fortnightly/monthly intervals are made available.
- Merchant will have access to other products of INDUSIND.
Dynamic Currency Conversion, NFC(Tap N Pay),EMI
Digital Rupee (e₹) is a legal tender currency issued by the Reserve Bank of India in a digital format. Digital Rupee (e₹) will offer all possible features offered by Cash. Since it is directly issued by the Reserve Bank of India, it can be used to carry out transactions or store values digitally.
Both Digital Rupee (e₹) and Cash offer the same value to their end consumers. The conversion rate of 1 Digital Rupee will be = 1 Rupee.
Digital Rupee (e₹) is available in the same denominations of cash i.e., ₹ 1, ₹ 2, ₹ 10, ₹ 20, ₹ 50, ₹ 100, ₹ 500 ₹ 2000 it also offers coins of 50 paise and 1 Rupee.
An e₹ wallet is an IndusInd Bank mobile application which stores your digital money like a physical wallet. The unique feature of e₹ wallet is that your money is safe even if you lose your mobile phone on which the e₹ wallet is stored. It can be retrieved by creating a protected e₹ wallet through PIN.
The first primary distinction of Digital Rupee (e₹) is from money, which is issued by RBI. It is a digital representation of the physical currency. It is a digital form of Indian rupee. Whereas UPI/IMPS/NEFT or other available modes are the medium to transfer money, these can only be used for payment transactions. Transfer of Digital Rupee (e₹) provides an instant change in ownership of the currency.
Digital Rupee (e₹) is a digital form of currency. It is completely different from private cryptocurrencies like bitcoin etc. Digital Rupee (e₹) has an intrinsic value and is issued and regulated by the Reserve Bank of India.
As stated in the concept note by RBI, Digital Rupee (e₹) is going to complement all the existing payment methods and will act as an alternative to physical currency. Being digital in nature, it may offer some additional features in the future which are not possible with paper currency. It is completely different from private crypto currencies like bitcoin etc. Digital Rupee (e₹) has an intrinsic value and is issued and regulated by the Reserve Bank of India.
Customers can use Digital Rupee (e₹) like physical currency, and can be transferred to another user with the help of a mobile number. Users can also use these digital currencies at merchant outlets accepting digital rupee by scanning the QR code.
Currently, only invited customers can use Digital Rupee (e₹). IndusInd Bank Ltd Account is mandatory to use the e₹ wallet.
No, it is accepted only in India. In the first phase of the rollout of Digital Rupee (e₹), it can only be used for transferring money to other e₹ wallet holders or for making payments at merchant outlets accepting Digital Rupee (e₹).
Yes. IndusInd customers across the country can avail the Digital Rupee services.
For now, only a few customers have been selected from a few identified locations to use Digital Rupee (e₹). We will keep adding more customers as and when we receive the mandate from RBI with respect to user expansion.
IndusInd Bank will send a detailed communication on the registered mobile number and email address of the customer who gets selected for using Digital Rupee (e₹).
Below is a list of simple steps you can follow to sign up for the Digital Rupee (e₹): -
- Step 1: Click on the e₹ wallet app link shared with you via SMS (registered mobile number) or email (on registered mail ID).
- Step 2: Once the app is downloaded, click on ‘Allow permissions to send SMS and manage phone calls.’
- Step 3: Read all the terms & conditions and click on ‘Accept’ to continue.
- Step 4: Select the SIM to be used for registration (Select the SIM with the Mobile No. linked to your Bank Accounts)
- Step 5: Set the app login method of your choice: PIN, Pattern, or Biometrics.
- Step 6: Enter Your Name and click on ‘Choose wallet.’
- Step 7: Set the 6-digit e₹ wallet PIN as the first input, followed by the second input, and click on the ‘Submit’ button.
- Step 8: A list of all the IndusInd Bank Accounts linked with your mobile number will appear. Select the account you wish to link.
- Step 9: Enter the last 6 digits and the expiry date of the Debit Card associated with the selected Bank Account.
- Step 10: After successful authentication, the selected account will be linked to the e₹ wallet.
Your signup/registration process is now complete. You can start using the IndusInd Bank e₹ wallet app.
Currently, the IndusInd Bank Digital Rupee (e₹) app is available only for Android users. We will inform you as soon as the iOS version of the app is ready for users to download.
Adding Digital Rupee (e₹) into your e₹ wallet is a very simple process. Simply follow the below-mentioned steps: -
- Step 1: Open IndusInd Bank e₹ wallet and enter your PIN.
- Step 2: Go to the ‘load money’ section on the home page of the app.
- Step 3: Select the denomination by swiping up for the amount you want to add. You can also enter the amount on the top of the screen. Once the amount is confirmed, click on ‘Load Digital Rupee.’
- Step 4: Currently, there are two options available to add Digital Rupee (e₹) in the e₹ wallet:
- Transfer funds from the IndusInd Bank account linked with the wallet.
- Transfer funds via UPI.
- Step 5: To transfer funds from the IndusInd Bank Account linked to your e₹ wallet, simply verify your PIN to proceed. The amount will be debited from your account and credited into your e₹ wallet.
- Step 1: Open IndusInd Bank e₹ wallet app and enter your PIN.
- Step 2: Go to the ‘redeem’ section on the home page of the app.
- Step 3: Select the amount you want to redeem and click on ‘Redeem Digital Rupee.’
- Step 4: The IndusInd Bank account linked to your e₹ wallet will appear on the screen.
- Step 5: Enter your PIN number to proceed. The selected amount will be credited to your bank account and debited from your e₹ wallet.
- Step 1: Open IndusInd Bank e₹ wallet app and enter your PIN.
- Step 2: Click on ‘Send’ option on the home page of the app.
- Step 3: You can send digital rupee via VPA or via phone number of the beneficiary who has registered for the e₹ or scan e₹ QR code.
Your e₹ wallet is built smartly to perform the change management task for simplified transactions. Below example will help you to understand in details:
If you have to make a transaction of Rs. 35 and you have 50-rupee digital currency available with you. You need to enter the transaction amount as 35, remaining Rs. 15 will automatically be stored in your e₹ wallet at the time of transaction itself.
NO, Digital Rupee (e₹) purchase cannot be initiated from your credit card. Digital Rupee (e₹) is a digital representation of the currency. Hence, the same can only be loaded or redeemed into your IndusInd Bank Account.
Yes, an SMS will be sent on your registered mobile number for each e₹ wallet transaction.
Currently, IndusInd Bank does not charge(s removed) any fee for using Digital Rupee (e₹).
There is no minimum balance constrain on the e₹ wallet.
No. Digital Rupee (e₹) can only be transferred to other e₹ wallets. Alternatively, user can receive it on Digital Rupee (e₹) app and redeem with Bank account linked with e₹ wallet.
Only one e₹ wallet can be held in a particular bank against the registered mobile number.
Most of the failed transactions are reversed immediately. The money will go back to your bank account instantly. However, in some of the cases, it may take longer than intended. If you do not receive the money within 48 hours (during the pilot), you are requested to raise a dispute on the Digital Rupee (e₹) app or call the customer care division < 1860 267 7777> to raise a concern.
The limits on value and volumes of Digital Rupee (e₹) transactions are mentioned below:
| Holding Limit for e₹ wallet | |
| Per day load/Unload limit for e₹ wallet | |
| Count of load/unload transaction during the day | |
| Count of transfers (Inward/ outward) |
No, there is no interest paid on on Digital Rupee (e₹) held in your on e₹ wallet.
Yes, your e₹ wallet is completely safe. There multiple levels of robust cyber security framework to ensure that your Digital Rupee (e₹) is secure.
- Step 1: Open IndusInd Bank e₹ wallet app and enter the PIN.
- Step 2: Redeem the Digital Rupee(e₹) available in your wallet to your linked bank account.
- Step 3: Click on profile icon on the top left corner of the home screen.
- Step 4: Select ‘De-register’ option on the page.
- Step 5: A prompt about wallet deletion will appear on the screen. Click on continue.
- Step 6: Enter your PIN to verify. Post verification, the wallet will be de –registered.
- Step 1: Open IndusInd Bank e₹ wallet app and enter your PIN.
- Step 2: Redeem Digital Rupee (e₹) available in your wallet to your linked bank account.
- Step 3: Click on profile icon available on the top left corner of the home screen of app.
- Step 4: Select ‘PIN setting’ option on the page.
- Step 5: Click on forgot PIN.
- Step 6: enter last 6 digits of your IndusInd Bank Debit card along with expiry date.
- Step 7: Enter OTP triggered from IndusInd Bank.
- Step 8: Enter and Re-enter the new OTP to complete the PIN change transaction.
In case you enter the wrong PIN more than 3 times consecutively, the IndusInd Bank e₹ wallet app will be temporarily blocked. You will have to reset the wallet PIN or wait for 24 hours to unlock the e₹ wallet.
Merchant Acquisition
Bharat QR
- Login to IndusMobile, tap on the ‘Brand Icon’ and go to the ‘Payments Tab’
- Tap on the ‘Bharat QR’ option
- Choose ‘Scan the Merchant’s QR Code’ or enter the Merchant’s ID
- Enter the amount, select the Debit Card through which you wish to pay, and authenticate the payment with an OTP
- The merchant receives the amount you wanted to pay
- With anyone who uses the BHIM App and has generated their Bharat QR; you can scan their QR Code to make a payment
- Wherever you see Bharat QR or mVISA displayed at a Retail Outlet; you can pay via the app
- Utility merchants like Tatasky, Idea Mobile, Mahanagar Gas etc. also accept payments via mVISA/Bharat QR, and you can make payments to them as well
- Currently, we have launched Bharat QR only for our VISA Debit Cards
- But, we will be extending this facility to our Rupay Debit Cards very soon
- Currently, we have launched Bharat QR only for our VISA Debit Cards
- But, we will be extending this facility to our Credit Cards very soon
- Usually this is due to network issues and your funds are generally reversed within 10 working days
- Else, you can raise a complaint by calling us at 18005005004 or by writing to us at reachus@indusind.com with the details of your transactions
- Please mention the amount, date & time along with the reference number
- You can raise a dispute request by calling us at 18005005004 or by writing to us at reachus@indusind.com with the details of your transaction
- Please mention the amount, date & time along with the reference number
It is currently available on iOS above 8 and Android phones above 5.1
- Currently, there is a per transaction limit of Rs. 1L/ transaction
- Your overall daily Debit Card and Mobile Banking limits also apply
Indus Pay
MAB is primarily referred to as the mechanism of providing necessary Infrastructure and facilitating payment for goods and services purchased through medium of a card.
- Issuer: The Bank that issues cards.
- Cardholder: Customer / Non customer using card for making payment.
- Merchant: Entity which accepts payments through cards.
- Acquirer: The Bank that provides necessary infrastructure to the
- Merchant to accept payment, maintains relationship and facilitate acceptance payments thru cards.
- Intermediary Agency: Visa or MasterCard who facilitate interbank settlements.
- Merchant Discount Rate (MDR): The commission charged by the acquirer (INDUSIND) to the Merchant (Trader/Service Provider). It is also termed as Merchant Service Fee (MSF).
- Interchange: The incentive paid by the Acquirer Bank to the Card Issuer Bank for promoting payment through cards.
- Scheme Fee: The service fee paid to intermediary agencies i.e.
- MasterCard or Visa for facilitating interbank payments.
- On -Us Transaction: Where issuer and acquirer is same (e.g. INDUSIND Debit Card on INDUSIND POS terminal)
- Off-Us Transaction: Where issuer and acquirer are different (e.g. Other bank’s debit/credit card on our POS terminals.)
A. Cardholder
- Need not carry cash, which is risky.
- Saves time and money in visiting bank branch / ATM to withdraw money and spend the same at merchant outlet, who has to again deposit the same in Bank.
- The time saved results in lower cost and higher productivity as time saved can be gainfully utilised.
B. Merchant
- Cash handling is avoided.
- Efficient transaction processing
- The customers have tendency to higher purchases/impulsive buying while using the card than cash, thus more sales and higher profits.
- The customer stickiness to merchant increases due to the facility.
- Better record keeping of sale and inventory
- The facility can also have provision for customer loyalty points which are widely used to attract the customer to the outlet repeatedly.
- PSTN.
- Portable GPRS.
- Digital POS.
- Bharat QR
- KYC Compliance. Merchant needs to provide necessary documents regarding the proof of business, address proof, photo identity proof of the proprietor/partner/key promoters etc.
- Availability of Connectivity PSTN with STD at Merchant Location (Cost to be borne by the Merchant). If land line is not available, GPRS either desktop or portable as per the customers’ choice.
- Opening/identification of account for settlement of transactions with INDUSIND.
- Offer letter Acceptance of Merchant Discount Rate (MDR) by the Merchant offered by Bank.
- Merchants’ consent for execution of Merchant Establishment
- Agreement between Bank and Merchant. POS terminal shall be installed only after the execution of ME agreement.
Merchant can contact the IndusInd Branch or LACR Business Team
No, merchant is not required to pay anything towards cost of terminal. POS terminal is installed at absolutely free of cost. The cost for procurement of terminal and also the maintenance of terminal is borne by the Bank.
Do’s
- Merchants must accept all cards when properly presented as payments for transactions.
- Bring to the notice of the bank any fraudulent activities.
- In case of any problems with the machine, call the helpline number or write @ possupport@IndusInd.com
- Perform settlement on POS terminal at-least once in a day; settlement may be done by merchant as many times as he wish. If not done amount shall not be credited in customer’s settlement Account.
Don’ts
- Merchant must not disclose details of the card or cardholders to any third party.
- Impose any extra charge or surcharge (unless expressly allowed by local law).
- Indulge in any fraudulent activity.
- No hidden costs.
- INDUSIND network is present across all geographies.
- Loan against Credit Card receivables
- Merchant has access to transactions done on his / her terminal(s) after logging in the application.
- Customized MIS at weekly/fortnightly/monthly intervals are made available.
- Merchant will have access to other products of INDUSIND.
Dynamic Currency Conversion, NFC(Tap N Pay),EMI
PayTivo
MAB is primarily referred to as the mechanism of providing necessary Infrastructure and facilitating payment for goods and services purchased through medium of a card.
- Issuer: The Bank that issues cards.
- Cardholder: Customer / Non customer using card for making payment.
- Merchant: Entity which accepts payments through cards.
- Acquirer: The Bank that provides necessary infrastructure to the
- Merchant to accept payment, maintains relationship and facilitate acceptance payments thru cards.
- Intermediary Agency: Visa or MasterCard who facilitate interbank settlements.
- Merchant Discount Rate (MDR): The commission charged by the acquirer (INDUSIND) to the Merchant (Trader/Service Provider). It is also termed as Merchant Service Fee (MSF).
- Interchange: The incentive paid by the Acquirer Bank to the Card Issuer Bank for promoting payment through cards.
- Scheme Fee: The service fee paid to intermediary agencies i.e.
- MasterCard or Visa for facilitating interbank payments.
- On -Us Transaction: Where issuer and acquirer is same (e.g. INDUSIND Debit Card on INDUSIND POS terminal)
- Off-Us Transaction: Where issuer and acquirer are different (e.g. Other bank’s debit/credit card on our POS terminals.)
A. Cardholder
- Need not carry cash, which is risky.
- Saves time and money in visiting bank branch / ATM to withdraw money and spend the same at merchant outlet, who has to again deposit the same in Bank.
- The time saved results in lower cost and higher productivity as time saved can be gainfully utilised.
B. Merchant
- Cash handling is avoided.
- Efficient transaction processing
- The customers have tendency to higher purchases/impulsive buying while using the card than cash, thus more sales and higher profits.
- The customer stickiness to merchant increases due to the facility.
- Better record keeping of sale and inventory
- The facility can also have provision for customer loyalty points which are widely used to attract the customer to the outlet repeatedly.
- PSTN.
- Portable GPRS.
- Digital POS.
- Bharat QR
- KYC Compliance. Merchant needs to provide necessary documents regarding the proof of business, address proof, photo identity proof of the proprietor/partner/key promoters etc.
- Availability of Connectivity PSTN with STD at Merchant Location (Cost to be borne by the Merchant). If land line is not available, GPRS either desktop or portable as per the customers’ choice.
- Opening/identification of account for settlement of transactions with INDUSIND.
- Offer letter Acceptance of Merchant Discount Rate (MDR) by the Merchant offered by Bank.
- Merchants’ consent for execution of Merchant Establishment
- Agreement between Bank and Merchant. POS terminal shall be installed only after the execution of ME agreement.
Merchant can contact the IndusInd Branch or LACR Business Team
No, merchant is not required to pay anything towards cost of terminal. POS terminal is installed at absolutely free of cost. The cost for procurement of terminal and also the maintenance of terminal is borne by the Bank.
Do’s
- Merchants must accept all cards when properly presented as payments for transactions.
- Bring to the notice of the bank any fraudulent activities.
- In case of any problems with the machine, call the helpline number or write @ possupport@IndusInd.com
- Perform settlement on POS terminal at-least once in a day; settlement may be done by merchant as many times as he wish. If not done amount shall not be credited in customer’s settlement Account.
Don’ts
- Merchant must not disclose details of the card or cardholders to any third party.
- Impose any extra charge or surcharge (unless expressly allowed by local law).
- Indulge in any fraudulent activity.
- No hidden costs.
- INDUSIND network is present across all geographies.
- Loan against Credit Card receivables
- Merchant has access to transactions done on his / her terminal(s) after logging in the application.
- Customized MIS at weekly/fortnightly/monthly intervals are made available.
- Merchant will have access to other products of INDUSIND.
Dynamic Currency Conversion, NFC(Tap N Pay),EMI
POS Solution
POS is the acronym for Point of Sales. A POS terminal is a machine installed at Merchant Establishment which enables the merchant to accept payments through payment cards (credit cards, debit cards etc.).The installation of POS machine at a merchant outlet reduces cash handling and enhances business revenue for merchants through increased spending option. It is a method of hassle free shopping for customers since they don’t need to carry cash with them.
- You need to be KYC Compliant and provide necessary documents regarding the proof of business, address proof, photo identity proof of the proprietor/partner/key promoters etc.
- Agreement between Bank and Merchant. POS terminal will be installed only after the execution of ME agreement.
- Need to be engaged in a business that is acceptable as per IndusInd Bank sourcing guidelines.
- Have an IndusInd Bank Current Account for settlement of transactions.
- Android POS
- Wireless and Portable GPRS POS
- mPOS
- UPI QR
- Bharat QR
- No, you are not required to buy the POS terminal. There is a nominal one time setup fee along with monthly rental and maintenance charge as per the terminal type opted for other than the transactional cost.
- We have attractive annual rental plans to choose from.
- EMI Acceptance
- UPI acceptance
- International Cards
- App & Portal
- Pay By Links
- Khaata and other Value Added Services
The whole on-boarding, activation and installation process takes 2-5 working days (may vary depending on the location)
IndusInd Bank accepts debit/credit and prepaid cards of all major schemes which includes
- Visa
- MasterCard
- Rupay
- American Express (on approval basis)
The Merchant discount rate is the fee that you have to pay to the Bank for processing the transactions done through IndusInd Bank POS. These are different for different type of cards. Our discount rates are extremely competitive and without any HIDDEN CHARGES.
We will settle the previous day’s transactions the next working day into your bank account and that too before 9 a.m.
- Latest Payment Technology
- Dedicated Customer Care of the highest Standard
- Competitive Pricing without any hidden charges.
- Wide range of POS Terminals to choose from.
- IndusInd Bank branch network is present across all geographies.
- Business Loans
- App for digital on boarding, tracking payments and avail host of Value Added Services.
Few points you should keep in mind while accepting cards are:
- Use your POS machine only for transactions related to business
- Do not refund in cash for purchases made with Card.
- Do not use your own Card in any scenario for self-credit
- Do not surcharge. Transaction must be done for actual amount/MRP only.
- Do not split cost of a single transaction between multiple receipts and transactions
- Transactions amount must include all charges and taxes levied to customer
- Provide goods and services to Cardholder immediately or provide invoice stating delivery arrangements basis which goods and services will be provided later on.
A. Cardholder
- Need not carry cash.
- Buy now Pay later through Easy EMI
- Earn loyalty point on spends through Credit/Debit Cards
- Utilize offers on Credit/Debit card provided by Issuing Bank and Merchant Partners.
B. Merchant
- No more risk of cash handling.
- Efficient transaction processing
- The customers have tendency to opt for higher purchases/impulsive buying while using the card rather than cash, thus more sales and higher profits.
- The customer stickiness to merchant increases due to the facility.
- Better record keeping of sale and inventory
Do’s
- Merchants must accept all cards when properly presented as payments for transactions.
- Bring to the notice of the bank any fraudulent activities.
- In case of any problems with the machine, call the helpline number 0226638000 or write to merchant@induind.com
Don’ts
- Merchant must not disclose details of the card or cardholders to any third party.
- Impose any extra charge or surcharge (unless expressly allowed by local law).
- Indulge in any fraudulent activity.
NFC technology lets businesses accept credit cards without swiping them. To accept mobile payments, you'll need an NFC-enabled credit card machine.
The two main security features to look for in a credit card machine and credit card processor are Payment Card Industry Data Security Standard (PCI-DSS) compliance and EMV capabilities. PCI-DSS is the industry standard for credit card processing and consists of several security measures, such as point-to-point data encryption. Although credit card processors have PCI-DSS as a part of their service, it is businesses' responsibility to make sure they are compliant in order to avoid hefty fees and protect sensitive information
Bharat QR is P2M (Person to Merchant) Mobile payment solution.
This solution is mutually derived among NPCI, Visa and MasterCard payment networks. Once the BQR codes are deployed on Merchant locations, user can pay the utility bills using BQR enabled mobile banking apps without sharing any user credentials to the merchant. It is a quick method of payment.
Bharat QR works as an alternate channel of payment, where cardholder has to download his/her bank’s Bharat QR enabled mobile banking app. User has to scan the Bharat QR code at Merchant store and select card to make payment. Once the payment is successful, both cardholder and merchant receive notification in mobile application for successful transaction.
Bharat QR product offers following benefits:
- No physical charge slip is generated; instead merchant gets the notification in his Bharat QR App. As a result, merchants are saved from the hassles of keeping the record of charge slips.
- Less instances of charge backs. As the customer himself initiates the payment, the occurrence of chargebacks is minimized.
Customer can make the payment by scanning the static/dynamic QR code as under:
Static QR Code
- Customer opens any Bank’s Bharat QR customer app or UPI app at his smart phone
- Customer scans the static QR code displayed at the billing counter or key in the numeric merchant ID.
- Customer enters the amount to be paid in Bharat QR/UPI app, and makes payment.
- Both Merchant and Customer receive notification in their respective apps.
- Merchant delivers the goods or services to customer.
Dynamic QR code:
- Merchant generates the dynamic QR code by entering the sale amount along with bill number in the Bharat QR Merchant app and presents it to customer for scanning.
- Customer scans the dynamic QR code check merchant details, amount and confirm payment.
- Both Merchant and Customer receive notification in their respective app.
- Merchant delivers the goods or services to customer.
In layman’s language a payment gateway is a system that works behind the scenes of Merchant’s website. It provides a mechanism to accept online payments through Credit Card/Debit Card/Net Banking, etc.
Payment Gateway transactions follows following three basic steps.
- The online checkout collects the customer’s payment details.
- The payment gateway safely transports the details via the processor.
- The Merchant’s processor processes the transaction with a reference to the payment type and issuer bank. Once approved the money, less TDR are paid into merchant payment account.
Please reach us at the helpline number 0226638000 or merchant@indusind.com.
We will get back to you.
Through Indusind PG facility you can accepts INR and multiple foreign currencies but settlement to the Merchant’s account is done in INR only.
Payment Gateway
MAB is primarily referred to as the mechanism of providing necessary Infrastructure and facilitating payment for goods and services purchased through medium of a card.
- Issuer: The Bank that issues cards.
- Cardholder: Customer / Non customer using card for making payment.
- Merchant: Entity which accepts payments through cards.
- Acquirer: The Bank that provides necessary infrastructure to the
- Merchant to accept payment, maintains relationship and facilitate acceptance payments thru cards.
- Intermediary Agency: Visa or MasterCard who facilitate interbank settlements.
- Merchant Discount Rate (MDR): The commission charged by the acquirer (INDUSIND) to the Merchant (Trader/Service Provider). It is also termed as Merchant Service Fee (MSF).
- Interchange: The incentive paid by the Acquirer Bank to the Card Issuer Bank for promoting payment through cards.
- Scheme Fee: The service fee paid to intermediary agencies i.e.
- MasterCard or Visa for facilitating interbank payments.
- On -Us Transaction: Where issuer and acquirer is same (e.g. INDUSIND Debit Card on INDUSIND POS terminal)
- Off-Us Transaction: Where issuer and acquirer are different (e.g. Other bank’s debit/credit card on our POS terminals.)
A. Cardholder
- Need not carry cash, which is risky.
- Saves time and money in visiting bank branch / ATM to withdraw money and spend the same at merchant outlet, who has to again deposit the same in Bank.
- The time saved results in lower cost and higher productivity as time saved can be gainfully utilised.
B. Merchant
- Cash handling is avoided.
- Efficient transaction processing
- The customers have tendency to higher purchases/impulsive buying while using the card than cash, thus more sales and higher profits.
- The customer stickiness to merchant increases due to the facility.
- Better record keeping of sale and inventory
- The facility can also have provision for customer loyalty points which are widely used to attract the customer to the outlet repeatedly.
- PSTN.
- Portable GPRS.
- Digital POS.
- Bharat QR
- KYC Compliance. Merchant needs to provide necessary documents regarding the proof of business, address proof, photo identity proof of the proprietor/partner/key promoters etc.
- Availability of Connectivity PSTN with STD at Merchant Location (Cost to be borne by the Merchant). If land line is not available, GPRS either desktop or portable as per the customers’ choice.
- Opening/identification of account for settlement of transactions with INDUSIND.
- Offer letter Acceptance of Merchant Discount Rate (MDR) by the Merchant offered by Bank.
- Merchants’ consent for execution of Merchant Establishment
- Agreement between Bank and Merchant. POS terminal shall be installed only after the execution of ME agreement.
Merchant can contact the IndusInd Branch or LACR Business Team
No, merchant is not required to pay anything towards cost of terminal. POS terminal is installed at absolutely free of cost. The cost for procurement of terminal and also the maintenance of terminal is borne by the Bank.
Do’s
- Merchants must accept all cards when properly presented as payments for transactions.
- Bring to the notice of the bank any fraudulent activities.
- In case of any problems with the machine, call the helpline number or write @ possupport@IndusInd.com
- Perform settlement on POS terminal at-least once in a day; settlement may be done by merchant as many times as he wish. If not done amount shall not be credited in customer’s settlement Account.
Don’ts
- Merchant must not disclose details of the card or cardholders to any third party.
- Impose any extra charge or surcharge (unless expressly allowed by local law).
- Indulge in any fraudulent activity.
- No hidden costs.
- INDUSIND network is present across all geographies.
- Loan against Credit Card receivables
- Merchant has access to transactions done on his / her terminal(s) after logging in the application.
- Customized MIS at weekly/fortnightly/monthly intervals are made available.
- Merchant will have access to other products of INDUSIND.
Dynamic Currency Conversion, NFC(Tap N Pay),EMI
CBDC
Digital Rupee (e₹) is a legal tender currency issued by the Reserve Bank of India in a digital format. Digital Rupee (e₹) will offer all possible features offered by Cash. Since it is directly issued by the Reserve Bank of India, it can be used to carry out transactions or store values digitally.
Both Digital Rupee (e₹) and Cash offer the same value to their end consumers. The conversion rate of 1 Digital Rupee will be = 1 Rupee.
Digital Rupee (e₹) is available in the same denominations of cash i.e., ₹ 1, ₹ 2, ₹ 10, ₹ 20, ₹ 50, ₹ 100, ₹ 500 ₹ 2000 it also offers coins of 50 paise and 1 Rupee.
An e₹ wallet is an IndusInd Bank mobile application which stores your digital money like a physical wallet. The unique feature of e₹ wallet is that your money is safe even if you lose your mobile phone on which the e₹ wallet is stored. It can be retrieved by creating a protected e₹ wallet through PIN.
The first primary distinction of Digital Rupee (e₹) is from money, which is issued by RBI. It is a digital representation of the physical currency. It is a digital form of Indian rupee. Whereas UPI/IMPS/NEFT or other available modes are the medium to transfer money, these can only be used for payment transactions. Transfer of Digital Rupee (e₹) provides an instant change in ownership of the currency.
Digital Rupee (e₹) is a digital form of currency. It is completely different from private cryptocurrencies like bitcoin etc. Digital Rupee (e₹) has an intrinsic value and is issued and regulated by the Reserve Bank of India.
As stated in the concept note by RBI, Digital Rupee (e₹) is going to complement all the existing payment methods and will act as an alternative to physical currency. Being digital in nature, it may offer some additional features in the future which are not possible with paper currency. It is completely different from private crypto currencies like bitcoin etc. Digital Rupee (e₹) has an intrinsic value and is issued and regulated by the Reserve Bank of India.
Customers can use Digital Rupee (e₹) like physical currency, and can be transferred to another user with the help of a mobile number. Users can also use these digital currencies at merchant outlets accepting digital rupee by scanning the QR code.
Currently, only invited customers can use Digital Rupee (e₹). IndusInd Bank Ltd Account is mandatory to use the e₹ wallet.
No, it is accepted only in India. In the first phase of the rollout of Digital Rupee (e₹), it can only be used for transferring money to other e₹ wallet holders or for making payments at merchant outlets accepting Digital Rupee (e₹).
Yes. IndusInd customers across the country can avail the Digital Rupee services.
For now, only a few customers have been selected from a few identified locations to use Digital Rupee (e₹). We will keep adding more customers as and when we receive the mandate from RBI with respect to user expansion.
IndusInd Bank will send a detailed communication on the registered mobile number and email address of the customer who gets selected for using Digital Rupee (e₹).
Below is a list of simple steps you can follow to sign up for the Digital Rupee (e₹): -
- Step 1: Click on the e₹ wallet app link shared with you via SMS (registered mobile number) or email (on registered mail ID).
- Step 2: Once the app is downloaded, click on ‘Allow permissions to send SMS and manage phone calls.’
- Step 3: Read all the terms & conditions and click on ‘Accept’ to continue.
- Step 4: Select the SIM to be used for registration (Select the SIM with the Mobile No. linked to your Bank Accounts)
- Step 5: Set the app login method of your choice: PIN, Pattern, or Biometrics.
- Step 6: Enter Your Name and click on ‘Choose wallet.’
- Step 7: Set the 6-digit e₹ wallet PIN as the first input, followed by the second input, and click on the ‘Submit’ button.
- Step 8: A list of all the IndusInd Bank Accounts linked with your mobile number will appear. Select the account you wish to link.
- Step 9: Enter the last 6 digits and the expiry date of the Debit Card associated with the selected Bank Account.
- Step 10: After successful authentication, the selected account will be linked to the e₹ wallet.
Your signup/registration process is now complete. You can start using the IndusInd Bank e₹ wallet app.
Currently, the IndusInd Bank Digital Rupee (e₹) app is available only for Android users. We will inform you as soon as the iOS version of the app is ready for users to download.
Adding Digital Rupee (e₹) into your e₹ wallet is a very simple process. Simply follow the below-mentioned steps: -
- Step 1: Open IndusInd Bank e₹ wallet and enter your PIN.
- Step 2: Go to the ‘load money’ section on the home page of the app.
- Step 3: Select the denomination by swiping up for the amount you want to add. You can also enter the amount on the top of the screen. Once the amount is confirmed, click on ‘Load Digital Rupee.’
- Step 4: Currently, there are two options available to add Digital Rupee (e₹) in the e₹ wallet:
- Transfer funds from the IndusInd Bank account linked with the wallet.
- Transfer funds via UPI.
- Step 5: To transfer funds from the IndusInd Bank Account linked to your e₹ wallet, simply verify your PIN to proceed. The amount will be debited from your account and credited into your e₹ wallet.
- Step 1: Open IndusInd Bank e₹ wallet app and enter your PIN.
- Step 2: Go to the ‘redeem’ section on the home page of the app.
- Step 3: Select the amount you want to redeem and click on ‘Redeem Digital Rupee.’
- Step 4: The IndusInd Bank account linked to your e₹ wallet will appear on the screen.
- Step 5: Enter your PIN number to proceed. The selected amount will be credited to your bank account and debited from your e₹ wallet.
- Step 1: Open IndusInd Bank e₹ wallet app and enter your PIN.
- Step 2: Click on ‘Send’ option on the home page of the app.
- Step 3: You can send digital rupee via VPA or via phone number of the beneficiary who has registered for the e₹ or scan e₹ QR code.
Your e₹ wallet is built smartly to perform the change management task for simplified transactions. Below example will help you to understand in details:
If you have to make a transaction of Rs. 35 and you have 50-rupee digital currency available with you. You need to enter the transaction amount as 35, remaining Rs. 15 will automatically be stored in your e₹ wallet at the time of transaction itself.
NO, Digital Rupee (e₹) purchase cannot be initiated from your credit card. Digital Rupee (e₹) is a digital representation of the currency. Hence, the same can only be loaded or redeemed into your IndusInd Bank Account.
Yes, an SMS will be sent on your registered mobile number for each e₹ wallet transaction.
Currently, IndusInd Bank does not charge(s removed) any fee for using Digital Rupee (e₹).
There is no minimum balance constrain on the e₹ wallet.
No. Digital Rupee (e₹) can only be transferred to other e₹ wallets. Alternatively, user can receive it on Digital Rupee (e₹) app and redeem with Bank account linked with e₹ wallet.
Only one e₹ wallet can be held in a particular bank against the registered mobile number.
Most of the failed transactions are reversed immediately. The money will go back to your bank account instantly. However, in some of the cases, it may take longer than intended. If you do not receive the money within 48 hours (during the pilot), you are requested to raise a dispute on the Digital Rupee (e₹) app or call the customer care division < 1860 267 7777> to raise a concern.
The limits on value and volumes of Digital Rupee (e₹) transactions are mentioned below:
| Holding Limit for e₹ wallet | |
| Per day load/Unload limit for e₹ wallet | |
| Count of load/unload transaction during the day | |
| Count of transfers (Inward/ outward) |
No, there is no interest paid on on Digital Rupee (e₹) held in your on e₹ wallet.
Yes, your e₹ wallet is completely safe. There multiple levels of robust cyber security framework to ensure that your Digital Rupee (e₹) is secure.
- Step 1: Open IndusInd Bank e₹ wallet app and enter the PIN.
- Step 2: Redeem the Digital Rupee(e₹) available in your wallet to your linked bank account.
- Step 3: Click on profile icon on the top left corner of the home screen.
- Step 4: Select ‘De-register’ option on the page.
- Step 5: A prompt about wallet deletion will appear on the screen. Click on continue.
- Step 6: Enter your PIN to verify. Post verification, the wallet will be de –registered.
- Step 1: Open IndusInd Bank e₹ wallet app and enter your PIN.
- Step 2: Redeem Digital Rupee (e₹) available in your wallet to your linked bank account.
- Step 3: Click on profile icon available on the top left corner of the home screen of app.
- Step 4: Select ‘PIN setting’ option on the page.
- Step 5: Click on forgot PIN.
- Step 6: enter last 6 digits of your IndusInd Bank Debit card along with expiry date.
- Step 7: Enter OTP triggered from IndusInd Bank.
- Step 8: Enter and Re-enter the new OTP to complete the PIN change transaction.
In case you enter the wrong PIN more than 3 times consecutively, the IndusInd Bank e₹ wallet app will be temporarily blocked. You will have to reset the wallet PIN or wait for 24 hours to unlock the e₹ wallet.