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Savings Account: Open Savings Bank Account Online Instantly

Ready to make your money work for you? IndusInd Bank's Savings Account gives your money the growth it deserves. Open a bank account online with us in 4 easy steps and enjoy competitive Savings Account interest rates. Make the most of IndusInd Bank Savings Account with seamless transactions, competitive interest rates, 24/7 access to your funds, exclusive discounts and offers across top brands, and a wide range of banking services at your fingertips. Pay bills, check your balance, transfer funds, or review your bank account statement – digitally, instantly, and safely! Read More

What’s more? Add a personal edge to your savings account with a customised account number. Choose your preferred account number and make your IndusInd Bank Savings Account experience uniquely yours! Open a savings account online in minutes and enjoy the freedom of banking from anywhere, anytime with IndusInd Bank.

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Choose from a Range of Savings Accounts Tailored to Your Savings Requirements


Open Savings Account Online in Just 4 Steps

 Pick an account number of your choice

Pick an account number of your choice

Enter your details

Enter your details

 Add funds to your account

Add funds to your account

Complete Video KYC from anywhere, at any time

Complete Video KYC from anywhere, at any time

Enjoy attractive Savings Account Interest Rate

Our savings account stands as a testament to our unwavering commitment to prioritising our customers. Enjoy the advantage of highly competitive interest rates across all our online savings account variants.  Check out the latest interest rates we are offering on savings accounts here.

Note:

The interest on your savings account is calculated based on your daily maintained balance. The interest is disbursed at quarterly intervals.

Savings Account Features & Benefits

Attractive rate of interest

Attractive rate of interest

Minimum Documentation

Minimum documentation

Account number of your choice

Account number of your choice

Discounts & Offers Across Top Brands

Discounts & offers across top brands

Access to a wide array of Digital Banking Services

Access to a wide array of digital banking services

Savings Account FAQs

  • What is a Savings account?

    A savings account is a type of bank account that allows individuals to deposit money and earn interest on it. If you are looking for a safe and low-risk option to save money that you do not plan on spending immediately, a savings account is the right alternative.

    Savings accounts offer flexibility and liquidity. So, you can deposit and withdraw funds when you need them. Since a savings account offers a steady amount of interest, you can also use it to save money for future use or emergencies. You can use the funds from a savings account to carry out financial transactions, pay bills, shop online, set up auto-payments, and more.

    What’s more, a savings account typically has low to no fees. This makes it a cost-effective option to save money. Whether you are looking to manage your everyday finances, store funds for future expenses, or take steps towards short-term financial goals, a savings account is an invaluable tool in your arsenal.

  • How to open a savings account online with IndusInd Bank? 

    With IndusInd Bank, your new savings account online is just a few taps away!

    You can open a new IndusInd Bank Savings Account in just 4 easy steps:

    • STEP 1 - Pick an account number of your choice. With the ‘My Account My Number’ feature of IndusInd Bank, you can set a personalised account number of your choice.
    • STEP 2 - Enter your details, such as Name, Contact details, PAN Card and Aadhaar Card details, and so on. 
    • STEP 3 - Add funds to your online savings account.
    • STEP 4 - Complete Video KYC verification for your account.

    That's it! No need to fill any offline form, collect lots of paperwork, or visit the branch! The account opening process can be carried out entirely online in minutes.

    Once your Video KYC is complete, you get unrestricted account access. Enjoy a higher transaction limit, lifetime validity, and many more features with your IndusInd Bank Online Savings Account.

  • Who is eligible to open a savings account online with IndusInd Bank? 

    To open a savings account online, you must meet the following criteria and furnish required documents:

    • You must be an Indian citizen or a resident with a valid PAN card or Aadhaar Card.
    • You must have proof of age and be at least 18 years old or should have a guardian proof for the minor's savings account.
  • What are the documents required to open Savings Account online with IndusInd Bank?

    At IndusInd Bank, not only is the account opening process easy and quick, but also requires minimal documentation. We want to ensure a hassle-free Savings Account opening process.

    To open a new Savings Account with IndusInd Bank, all you need are the following documents:

    • Aadhaar Card
    • PAN Card 
    • Mobile number linked to Aadhaar

    Click here to apply for a savings account online.

    IndusInd Bank has a 100% paperless account opening process. So, you only need to provide soft copies of the above documents and share related details.

  • What are interest rates for IndusInd Bank Savings Account?

    When you deposit money into a savings account, you earn interest on that money over time. The percentage at which this interest is calculated is known as the savings account interest rates.

    You can check this link for the latest interest rates that IndusInd Bank offers.

  • Why open an IndusInd Bank Online Savings Account? 

    IndusInd Bank offers attractive interest rates on different online savings accounts. Each of our savings accounts is tailored to your specific needs based on your income, expenditure, and lifestyle. We have a vast network of branches spread across the country. You can visit any branch to open a new savings account. We also offer a robust digital banking system that enables you to transact from anywhere anytime.

    Enjoy benefits such as:

    • Freedom to pick an account number of your choice
    • Online savings account opening without any bank visits
    • Attractive interest rate on your savings account balance
    • 100% digital banking via the all-in-one IndusMobile App
    • Attractive cashback offers and discounts across top brands.

    We also offer attractive discounts on locker charges. We allow cash withdrawals in the denomination of your choice and lots more. Additionally, you can enjoy debit card offers on dining, travel, and entertainment! So, don’t wait – open a savings account with IndusInd Bank NOW.

  • How to choose the best bank for a savings account for your needs?

    When looking for a bank that provides the savings account for your needs, look for the following:

    • Interest Rate Offered by the Bank: This determines the rate at which your savings will multiply. So, choose a bank that offers competitive interest rates.
    • Minimum Balance Requirements: This will help you ensure that you have the liquidity you desire and avoid account maintenance penalties.
    • Offers on Your Account or Debit Card: Check if the bank provides cashback, rewards, and offers, especially on your preferred brands. This will help you save more on your everyday purchases.
    • Internet and Mobile Banking Features: This ensures you do not have to visit the branch for any and every banking services.
    • Your Savings Goals: Consider the features that will help meet your financial goals and needs. For instance, a high-yield account can offer higher interest than a regular savings account. However, it may come with a higher minimum balance requirement. So, evaluate your financial priorities and choose the right bank accordingly.
  • How can I open a savings account offline?

    For the offline procedure, you can open a savings account easily by visiting the nearest bank branch.

  • What are the various types of Savings Accounts offered by IndusInd Bank?

    IndusInd Bank offers a variety of savings accounts to meet the needs of various types of customers. You can choose an account that suits you best by entering these details:

    - Your age (minor, adult, senior citizen),

    - Your monthly income, and 

    - Services you want. For example, free ATM transactions, offers on dining, travel or more.

    While opening savings accounts online, you can select from the following variants offered by IndusInd Bank:

    Regular Savings Account Special Savings Account Premium Savings Account
    Indus Privilege Indus Delite PIONEER Banking and Wealth Management
    Indus Privilege Max Indus Multiplier Max Indus Grandé
    Indus Classic Indus Diva Women Indus Exclusive
    Indus Digi Start Indus Senior Citizen Indus Partner
    Indus Maxima Indus Young Saver Indus PROgress
    Indus Small Indus 3-in-1 Account Indus Select
    Indus Easy    
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  • How is the interest rate on IndusInd Bank Savings Account calculated?

    There are broadly two types of interest: simple interest and compound interest. How much interest you earn depends on the interest rate as well as the interest type.

    Here’s an example to help you understand the concept better:

    Let’s assume the interest rate on a savings account is 5% p.a. You have deposited â‚č1,000 in the account. As per the 5% interest rate, you will earn â‚č50 in interest for the year. Consequently, your total amount will be â‚č1,050. This is called simple interest.

    The savings interest is typically compounded. It means you can earn interest on the interest amount that you have previously earned. So, the next time you will earn interest, it will be on â‚č1,050.

  • What is compound interest on a savings account?

    As per the compound interest on a savings account, the interest earned is added to the principal amount. The interest for the next period is calculated on the original principal amount plus the interest earned on it. This means you earn interest on your initial deposit and on the accumulated interest.

    Suppose you have Rs. 10,000 in a savings account that pays an annual interest rate of 5% compounded quarterly. After the first quarter, your account balance would be Rs. 10,125, which is the original Rs. 10,000 plus interest of Rs. 125. In the second quarter, the interest would be calculated at Rs. 10,125, not just the original Rs. 10,000. Therefore, the interest earned would be Rs. 127.03, which is slightly more than the interest earned in the first quarter because you are now earning interest on Rs. 10,125. This process repeats every quarter, and the interest earned keeps increasing due to the compounding effect.

    Compounding interest on a savings account can help your savings grow faster over time.

  • When is interest credited to the Savings Account?

    Interest rates are calculated and paid out quarterly. The interest earned depends on the balance in your account and the interest rate offered by the bank. 

  • What is the minimum balance required to be maintained in IndusInd Bank Savings Account? 

    The minimum balance required for an IndusInd Bank Savings Account depends on the type of account you have. For instance, the Indus Multiplier Max Savings Account, which is an FD-Linked Savings Account, has an average monthly balance requirement of â‚č10,000.

    We also have Zero-Balance Savings Accounts, such as the Indus Delite Savings Account, wherein there is no need to maintain a minimum balance (subject to initial funding).

  • How is the minimum Monthly Average Balance calculated?

    To calculate Average Monthly Balance or AMB, you can use the following formula:

    AMB = Total of Everyday Closing Balance / Total Number of Days in the Month.

    Ensure to have the minimum balance in your account on a regular basis to avoid any non-maintenance charges. 

  • What are the different ways I can transfer money from one Savings Account to another? 

    You can transfer money from one account to another in several ways, including:

    • Online Fund Transfers – Open your net banking account or mobile banking app like IndusMobile, to transfer funds via NEFT, IMPS, RTGS, etc.
    • Cheque Deposits – Fill up a cheque and a deposit slip and submit it at your nearest branch.
    • UPI – Send money instantly to your friends, family, merchants, and more, with UPI. You can use any UPI-enabled app, such as the BHIM IndusPay app, for this purpose. You will need the recipient’s UPI address to make an UPI payment.
    • Cash Deposits - You can also deposit cash (with the filled-out deposit slip) at the nearest branch. 
  • How do I add, modify, or delete a nominee in my Savings Account? 

    You must fill the appropriate nomination form to add, modify, or delete a nominee in your Savings Account. A ‘New Nomination’ form and a ‘Nomination Modification’ form will be available with the bank.

    You can visit your nearest branch and inform the representative of your requirement. Then, fill the form with the relevant details and submit. In case the nominee is a minor, you will have to enter a lawful guardian’s name.

    Depending on the bank and the account type, you may be able to carry out this process online as well. 

  • How do I deposit money into my Savings Account?

    To deposit money into your Savings Account, you can:

    • Visit your bank's branch and submit a cheque/cash along with a deposit slip.
    • Deposit cash at an ATM that has a cash deposit slot.  
    • Transfer funds via Net Banking, by opting for NEFT/RTGS/IMPS.
    • Use mobile banking apps such as IndusMobile. 

    You can also use a UPI-enable app to transfer money from one account of yours to another. 

  • Will I get a Debit Card on opening a Savings Account? 

    Yes, usually, you receive a Debit Card on opening a Savings Account. However, this is optional. You can opt-in/opt-out as per your preference. You can also apply later for a Debit Card if you had opted out earlier.

    This Debit Card is linked to the Savings Account and will help you access the funds in the account. You can use the Debit Card to withdraw money and conduct transactions from your account. 

  • How to open a high interest Savings Account? 

    Here’s how you can open a high-interest Savings Account such as the Indus Select Savings Account:

    1. Visit the IndusInd Bank website and browse over to the Indus Select Savings Account page. Click on ‘Apply Now’.

    2. Enter Account Number. IndusInd Bank allows you to choose a customised account number.

    3. Input Your Details, such as address, contact information, and so on.

    4. Add funds to your account.

    5. Complete KYC verification virtually with our representative.

    Your high-interest Savings Account will be ready for use! 

  • Is a PAN card compulsory to open a Savings Account? 

    You can open a Savings Account without a PAN card. However, such an account may have certain restrictions compared to a regular savings account. For instance, you may not be able to deposit or maintain more than a certain amount. Fixed Deposit options may not be available either.

    You can reach out to the bank and get clarity regarding such an account.

    Note that you can convert such an account into a regular account once you are able to provide the PAN card.

  • When does a savings account become dormant?

    If there are no customer-initiated transactions in a bank account for 24 months, the bank account becomes dormant. A dormant account means that the holder has restricted access to banking services. Furthermore, a dormant account may also lead to penalties or account maintenance charges. You will have to connect with a bank representative to reopen a dormant account.

* T&C apply. Saving Accounts Terms & Conditions

*T&C apply. Credit Card Bill Payment Offer Terms & Conditions

FD Rate FD Rate
FD Rate
Regular Fixed Deposit

up to 7.75% interest p.a

Senior Citizen

up to 8.25% interest p.a

BOOK FD