Unlocking the Potential of a Fixed Deposit Linked Savings Account for Long-Term Saving

Posted on Monday, July 17th, 2023 | By IndusInd Bank

When it comes to long-term savings, finding the right financial product that offers both security and attractive returns is essential. One such innovative solution is the Indus Max Multiplier Savings Account, a fixed deposit linked savings account that enables individuals to maximize their savings potential. With features like a low balance requirement, smart sweep facility, intelligent debit management, seamless digital account opening, and video KYC, this account presents an excellent opportunity for individuals to unlock the true potential of their savings.

1. A Low Barrier to Entry: Balance Requirement as Low as Rs. 10,000

Indus Max Multiplier Savings Account breaks the perception that high initial deposits are necessary for gaining access to favorable interest rates. With a balance requirement as low as Rs. 10,000, individuals can start their savings journey without straining their finances. This feature ensures that the account is accessible to a wide range of individuals, irrespective of their income levels.

2. Smart Sweep Facility: Maximize Returns on Excess Balances

The account’s smart sweep feature is designed to optimize returns by automatically converting any excess balance above a threshold limit of Rs. 20,000 into fixed deposits. By doing so, the account holder benefits from higher interest earnings compared to a regular savings account. This automated process ensures that idle funds are actively put to work, enhancing the growth potential of the savings portfolio.

3. Intelligent Debit Management: Maintaining Sufficient Savings

Life is unpredictable, and there may be instances when the balance in your savings account falls short to cover a debit transaction. However, with the Indus Max Multiplier Savings Account, this is no longer a cause for concern. The account intelligently fills up any shortfall by breaking a portion of the linked fixed deposit. This innovative approach ensures that your financial obligations are met promptly without disrupting your savings plan.

4. No Premature Closure Penalty: Flexibility and Freedom

Indus Max Multiplier Savings Account acknowledges that financial goals may change over time. Hence, it provides the flexibility of premature closure without any penalty. This allows individuals to access their savings if required, providing peace of mind and adaptability to evolving circumstances. With this feature, account holders can confidently plan for their long-term savings, knowing that they can make adjustments when necessary.

5. Seamlessly Open an Account in Four Easy Steps

Gone are the days of tedious paperwork and long queues at the bank. The Indus Max Multiplier Savings Account allows individuals to open their accounts digitally in just a few clicks, eliminating the need to visit a physical branch. With a user-friendly online process, anyone can set up their savings account conveniently from the comfort of their home or office.

6. Video KYC: Secure Account Opening from Anywhere

Indus Max Multiplier Savings Account prioritizes customer convenience and safety by offering video KYC (Know Your Customer). All you need is a PAN card to complete the process from anywhere, saving you time and effort. This feature ensures a secure and streamlined account opening experience while complying with regulatory requirements.

7. Choose an Account Number of Your Choice

With Indus Max Multiplier Savings Account, personalization extends to your account number. You have the freedom to select an account number of your choice, adding a unique touch to your banking experience. This feature showcases the account’s commitment to putting the customer first and empowering individuals to create a personalized financial journey.

Conclusion:

The Indus Max Multiplier Savings Account is a game-changer for long-term savings. With its low balance requirement, smart sweep facility, intelligent debit management, seamless digital account opening, and video KYC, it provides an ideal platform for individuals to unlock the true potential of their savings. This innovative account empowers individuals to build a secure financial future without compromising on accessibility, flexibility, and convenience. Whether you are starting your savings journey or looking to optimize your existing savings, the Indus Max Multiplier Savings Account offers a compelling solution that deserves your attention.

Open your Indus Max Multiplier Savings Account today! 

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision.  IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.