Fixed Deposit Details
Bank Name
IndusInd Bank
Eligibility
Sweep In/ Sweep Out can be applied by individuals and corporates who are getting a continuous float in the Current Account/Savings account.
Interest Rate
3.50 to 7.75% per annum.
Tenure
30 days to 24 months.
Fixed Deposit Type
Sweep in/ sweep out
Sweep in/sweep out
Tax Benefits
Credit Ratings
AA+ Crisil and ICRA.
Interest Payment Frequency
monthly, quarterly, half-yearly, yearly or at maturity. Typically for fixed deposits having interest payment at maturity, compound interest is applicable and for fixed deposits having monthly interest payment, simple interest is applicable. Typically fixed deposits having a tenure of one year or less, simple interest is applicable. It is best to consult the bank officials before you book a fixed deposit.
Cummulative/Non-Cummulative
Cumulative
Features
- Premature closure is allowed.
- A fixed deposit that is linked to your Savings account or Current account, thus providing multiple benefits. The linked account provides liquidity and allows you to withdraw funds as per your need, without breaking the FD, with earnings at higher rates.
- Deposit tenure of 30 to 24 months.
Minimum Investment Amount
Depends upon the Saving or Current account balance requirements
Features & Benefits
Pros
- FDs will be broken as per Last-In, First-Out (LIFO) basis for reverse sweep.
- Maximized liquidity and returns.
Cons
- No tax saving benefits.
Pros & Cons
How to Open?
1. Online:
- Visit the IndusInd Bank website or app.
- Log in to your existing IndusInd Bank account.
- Look for the "Fixed Deposit" or "FD" option.
- Choose the desired deposit amount and tenure.
- Provide the necessary details and submit the application.
2. Visiting a Branch:
- Locate an IndusInd Bank branch near you.
- Visit the branch with the required documents, which may include: Identity proof (e.g., Aadhaar card, PAN card) Address proof (e.g., utility bill, passport)Income proof (may be required for higher amounts)
- Fill out the necessary application forms.
- Submit the required documents and deposit the desired amount
Product Review
About this content
Public source: Original MyRupaya page
Captured 2026-11-06T11:00:07Z. Public page text has been preserved and restyled. Historical financial/product information may be outdated. Embedded widgets and forms are not copied or connected to live services.
