All posts by IndusInd Bank

Summary: While cash offers a sense of familiarity in a foreign land, Forex cards are more secure and efficient. They protect you against exchange rate fluctuations and are widely accepted across stores, restaurants, and ATMs. With the Indus Multicurrency Forex Card, users can also enjoy added perks like instant SMS alerts, online tracking, and greater security.

Be it a short vacation, a work trip, or higher education, planning an international trip can be an exhilarating experience. Often, it requires careful and smart consideration of logistics. From booking flights to searching for accommodation, you must nail down each detail for a smooth overseas experience. However, one important aspect that holds significance is managing finances in a foreign land. While transacting in your own country is an intuitive experience, the same may not be true in a foreign land.

Travellers typically have the option of carrying cash or paying with a Forex card. While carrying cash is a more traditional approach, modern discerning travellers opt for the latter.

Forex Cards vs. Cash

Forex cards are prepaid travel cards that allow users to load them with the currency of the destination country at a locked-in rate. Secure and convenient, these cards allow you to manage all international payments seamlessly.

On the other hand, carrying cash comes with numerous risks and drawbacks. Not only is cash susceptible to theft and loss but also requires you to store it safely in a physical space.

Forex cards, with their ease of use and strict security measures, eliminate such concerns. These nifty cards are widely accepted across restaurants, shops, and ATMs, offering a seamless way to access funds in a foreign land. Thus, Forex cards hold a clear advantage over carrying cash in terms of convenience and flexibility.Additionally, modern cards such as the Indus Multicurrency Forex Card come with a host of exclusive features like multicurrency loading, zero exchange rate risk, easy account tracking, and more, making them an indispensable tool for savvy globetrotters.

Features and Benefits of the Indus Multicurrency Forex Card

If you are looking for the best forex card for your next international trip, IndusInd Bank’s Indus Multicurrency Forex Card is all you need. This card is packed with remarkable features like:

1. Convenience

Load up to 14 currencies on a simple card, including:

United States Dollar (USD)
Euro (EUR)
Great Britain Pound (GBP)
Australian Dollar (AUD)
Canadian Dollar (CAD)
Arab Emirates Dirham (AED)
Swiss Franc (CHF)
Hong Kong Dollar (HKD)
Japanese Yen (JPY)
New Zealand Dollar (NZD)
Saudi Riyal (SAR)
Singapore Dollar (SGD)
South African Rand (ZAR)· Thai Bhat (THB)

The Indus Multicurrency card shields you against currency fluctuations by locking the exchange rate at the time of loading the card. Travellers can use it to make seamless international payments at no extra charge. Withdraw cash from Visa-enabled ATMs globally, receive instant transaction alerts, and enjoy easy encashment after returning to India.

2. Purchase and Loading

Buy your Indus Multicurrency Forex Card online for maximum convenience or visit your nearest IndusInd Bank Forex-enabled Branch. Receive your ready-to-use card kit instantly and load or reload it as required on the go.

3. Account Tracking

The Indus Multicurrency Forex Card allows users to track their spending or check their balance easily through the website. Users also receive instant transaction information on their registered phone number and email ID to prevent misuse. The periodic regular statements further make it easier to track your spending.

4. Security and Safety

The Indus Forex Card comes with strict security measures for cash withdrawals and online shopping. Users can track their transactions and balance online or through instant SMS notifications. In case the card is lost or stolen, you can immediately hot-list it over the phone.

Simplify International Transactions with the Indus Forex Card

While carrying cash may evoke a sense of familiarity, the modern-day traveller would do well to enjoy the myriad benefits of a Forex card when visiting a new country. These cards are secure and efficient, and make international payments effortless. Clearly, these cards offer a much more convenient and flexible alternative to carrying cash overseas.Buy a Forex card at IndusInd Bank today and enjoy perks such as free airport transfers, and exciting discounts on experiences, sightseeing, and activities.

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Investment

Fixed Deposit: Know Why an FD Is a Relevant Option for Your Portfolio

February 9, 2024 IndusInd Bank Leave a comment

Fixed deposits are a safe and secure investment option for investors across risk profiles. Safe from market fluctuations, FDs offer flexibility, diversification, and tax savings. Build a robust portfolio with IndusInd Bank’s flexible and secure fixed deposits.

Building a robust investment portfolio is a matter of balancing gains with stability. Market-linked instruments such as stocks and mutual funds are certainly popular for their wealth-creation potential. However, market volatility always translates into risk, which can be offset by investing in risk-free instruments, such as fixed deposits.

FDs offer fixed returns over a certain period, bringing certainty and stability to your investment portfolio. Thus, they are an excellent way to diversify your portfolio and safeguard your corpus against sudden market fluctuations. Undoubtedly, FDs make for a safe and rewarding investment avenue for investors of all risk appetites.

In this guide, we’ll bring you insights into the benefits and necessity of fixed deposits for any investment portfolio.

Five Reasons Why You Need Fixed Deposits in Your Portfolio

1. Safe from Market Fluctuations

FDs make for a highly beneficial addition to your investment portfolio due to their inherent safety and stability. Unlike market-linked investments, FDs are not subject to market volatility. Thus, your invested principal remains secure regardless of market fluctuations. This makes FDs an ideal choice for risk-averse investors. Additionally, the fixed interest rates offered by FDs provide a predictable income stream, a particularly valuable feature during economic downturns when other investments might underperform.

2. Flexible Investment

A primary benefit of investing in FDs is that you can customize the scheme as per your financial goals.

For instance, seeking regular interest payouts on a monthly, quarterly, half-yearly, or annual basis will provide you with a steady secondary income stream.

Or, if you are saving for a big purchase in the future or for your retirement, you can lock in your idle funds for the long term in a cumulative fixed deposit account. In this manner, your corpus increases over the fixed deposit’stenure, accelerating wealth growth.

3. Diversification

Diversification is all about balancing risk with reward. While equity, stocks, and mutual funds are excellent ways to earn substantial returns in the long term, they come with inherent risks. FDs serve as an excellent tool for balancing risk in a diversified investment portfolio, offering a haven during uncertain economic times.

4. Loan Against FD

If you are facing an immediate financial crunch, you don’t have to necessarily liquidate your FD. Banks nowadays provide loans against fixed deposits, which can essentially keep your investment safe while also providing you with financial assistance in times of need.

5. Tax Savings

As per Section 80C of the Income Tax Act, any investor can claim tax deductions amounting up to INR 1.5 lakhs per year with tax-saving FDs. However, a tax-saving FD comes with a lock-in period of 5 years in the course of which no premature withdrawal, loan, or overdraft facility is allowed.

Features & Benefits of IndusInd Bank Fixed Deposits

IndusInd Bank provides high-yielding and flexible FDs that can help you grow your wealth steadily. Here are some features of IndusInd Bank FDs:

● Flexible tenures: IndusInd Bank offers you flexible term options ranging from 7 days to 10 years, allowing you to plan for both the short and long term.

● Attractive interest rates: IndusInd Bank provides competitive fixed deposit interest rates so you can reliably grow your wealth

● Instant booking: You can open an FD with IndusInd Bank in just three simple steps without extensive paperwork. You only need your PAN and Aadhar Card to book a fixed deposit account. Before booking an FD, you can also check your returns using the IndusInd Bank FD Calculator to check your returns.

● Tax saving: IndusInd Bank also offers 5-year tax saving FDs that allow you to further optimize your earnings.

Optimize your Portfolio with IndusInd Bank’s High-Yield Fixed Deposit Accounts

Fixed deposits are, undoubtedly, a crucial part of any investment portfolio. Whether short or long-term, FDs can help you earn a steady source of income and build a substantial corpus for your retirement.

Start building your portfolio with IndusInd Bank’s rewarding FD schemes. Enjoy attractive interest rates, flexible interest payouts, and hassle-free instant online booking with IndusInd Bank.

Learn more here.

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.

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Investment

6 Features That Make IndusInd Bank FDs An Ideal Investment Choice

February 6, 2024 IndusInd Bank Leave a comment

IndusInd Bank fixed deposit offers outstanding benefits that make it stand out as an ideal investment choice. Advantages of IndusInd Bank’s fixed deposits range from hassle-free instant online booking and competitive interest rates, to flexible tenures, and flexible options for interest payments.

Prudent investment decisions are essential in attaining financial stability, and fixed deposits are a key instrument in this endeavour. Due to the increased focus on secure and reliable investment options, IndusInd Bank fixed deposits stand out as an ideal choice. This financial tool not only offers a safe haven for your money but also guarantees a reliable and steady source of income. If you are seeking consistent and attractive returns, exploring IndusInd Bank fixed deposits can be the key to your financial success.

Keep reading to explore six features that make IndusInd Bank fixed depositsan ideal investment choice.

6 Key Features of IndusInd Bank Fixed Deposits

Hassle-free Instant Booking	Provide your PAN and Aadhaar details to book your fixed deposit online in three simple steps
High-Interest Rates	Enjoy best-in-class fixed deposit interest rates starting at 7.75% (8.25% for senior citizens)
Auto-renewal Option	Upon the maturity of your fixed deposit, you can choose to extend the term of the deposit rather than withdraw the funds
Flexible Interest Payments	Interest payments can be made on a monthly, quarterly, half-yearly, yearly, or at-maturity basis
Flexible Tenure	You can choose from flexible tenures, ranging from 7 days to 10 years
Tax-Saving FD	By keeping your money in a fixed deposit for a period of five years, you can avail of tax benefits under Section 80C of the IT Act

How to Book a Fixed Deposit with IndusInd Bank Instantly?

You can book an instant fixed deposit with IndusInd Bank in three ways:

1. Through Web Application (Applicable for Non-IndusInd Bank customers as well)

Confirm your PAN & Aadhaar number
Provide your personal and fixed deposit details
Complete the Video-KYC process
Add money to your fixed deposit

2. Through IndusMobile

Use your Mobile banking ID to log in and select the deposit option
Choose ‘Create Fixed Deposit’ and carefully fill out the required details
The chosen amount will be debited from your savings account upon successful submission

3. Through IndusNet

Select the deposit option on your internet banking account
Click on ‘Open FD’ option and provide the required details
Select the desired amount to add to your fixed deposit from your savings account

IndusInd Bank Fixed Deposit Eligibility Criteria

You must fulfil the following requirements to open a fixed deposit account with IndusInd Bank:

Must be an Indian citizen
Must be 18 years of age or older
Must have valid KYC documents, including PAN and Aadhaar

The fixed deposit account can be opened by individuals, sole proprietorships, partnership firms, HUFs, limited companies, societies, clubs, trusts, guardians on behalf of minors, and associations.

Use IndusInd Bank Fixed Deposit Calculator to Calculate FD Returns

IndusInd Bank provides an online FD calculator to assist you in determining the accrued interest and the maturity amount for your fixed deposit. Follow the steps below to calculate fixed deposit returns with an IndusInd Bank FD calculator:

Access the FD calculator on this webpage
Type in the amount you want to invest in the fixed deposit (You can deposit a minimum of INR 10,000)
Select the tenure or duration of the fixed deposit
The interest rate for the chosen duration will be visible on the screen
After entering the required information, select the “Calculate Now” button
The FD calculator will display the total amount you will receive upon maturity

Secure your funds and receive assured returns with an IndusInd Bank fixed deposit. Book yours today!

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Fixed Deposit

The Impact of Inflation on Fixed Deposits

February 2, 2024 IndusInd Bank Leave a comment

Inflation is an inevitable reality, reflecting the gradual increase in prices over time. In 2023, this trend was evident in India, where the inflation rate fluctuated around 5.5%. This increase affects various aspects of life, such as daily expenses, housing costs, education fees, healthcare, and travel. In this mix of impacts, investments such as fixed deposits get affected too.

Fixed deposits are bank offerings that promise consistent returns. They are well-known for their stability and predictability, qualities that attract many savers. However, this steady nature of fixed deposits also makes them vulnerable to the impact of inflation.

So, How Does Inflation Impact Fixed Deposits?

When you open a fixed deposit account with any bank, you are promised a fixed interest rate. Suppose the rate is 4% per annum. This seems like a good return. However, if inflation rates are high, they can erode the real value of your returns. Let’s say inflation is 6%. Your FD returns become negative in real terms. You earn 4% from the deposit but lose 6% due to inflation. Thus, the actual value of your money declines.

Moreover, high inflation may prompt RBI to increase interest rates as a measure to control excessive spending, curb inflationary pressures, and maintain economic stability.

This situation can be unfavourable for existing FD holders. New deposits might offer higher interest rates, making older, lower-yielding deposits less attractive. Depositors with long-term FDs might find themselves locked into rates that are below the current market rate. If they withdraw their money before the maturity date, they may have to pay a penalty. This limitation can be problematic if they need funds to withdraw and invest in higher-yielding options.

Ways to Maximise Returns on Your FDs

While fixed deposits offer safety and guaranteed returns, they might not keep up with inflation. This mismatch is a huge risk for those who rely heavily on FDs for income, such as retirees. So, what should you do? Here are some steps you can take:

1.Choose an FD with higher interest rates

The interest rate is the most important consideration in outpacing inflation. You can consider IndusInd Bank Fixed Deposits to enjoy high interest rates on FD schemes. Simply book your FD online through your PAN and Aadhaar details. Complete your KYC instantly with the Video-KYC facility and choose a flexible amount and tenure.

2. Ladder your FDs

FD laddering means splitting your investment into multiple fixed deposits with different maturity dates. For instance, instead of investing a lump sum in a single 5-year FD, you can stagger investments across different maturities like 1 year, 2 years, and 3 years. When one deposit matures, you can reinvest it to keep the ladder going.

FD laddering offers benefits like diversification, access to liquidity, the opportunity for increased returns, and flexibility to adapt to changing interest rates.

3. Invest in tax-saving fixed deposits

Tax saver FDs qualify for tax deductions under Section 80C of the Income Tax Act. These deposits, with a lock-in period of five years, can help reduce your taxable income. Although the interest earned is taxable, the tax benefit on the principal amount makes this a wise choice for many, especially those in higher tax brackets.

4. Utilise senior citizen benefits

Senior citizens typically receive higher interest rates on fixed deposits. These rates are usually 0.25% to 0.50% higher than the regular rates, which can add up to a significant amount over time. If you are a senior citizen (above 60 years) or are investing on behalf of one, make sure to take advantage of high FD interest rates and other additional perks designed specifically for this age group.

Choose IndusInd Bank for Your FD Investments

While fixed deposits offer safety and predictability, inflation is a threat to their real value. Thus, you need to adopt smart strategies and practical choices to combat inflation and maximise your FD returns which can be calculated using Fixed Deposit Calculator. Choosing Indusind Bank can be a wise move here as you will receive several benefits like:

High FD rates and exclusive perks for seniors
Easy online booking through video KYC
Diverse tenure options
Auto-renewal at maturity
Regular interest payment options
5-year tax saver FD option, and more.

So, secure your hard-earned money with IndusInd Bank Fixed Deposits – Apply today!

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Savings Account

Best Savings Accounts for Kids and Teens: A Complete Review

February 2, 2024 IndusInd Bank Leave a comment

Teaching kids about finances is very important for parents. Why? Well, money skills are like seeds. If you plant them early, you can see them grow into strong, smart habits. Kids learn to plan for the future, realise the value of money, and build responsibility. These skills are prudent to help your kids learn big concepts like savings, budgeting, power of compounding, and investments. This knowledge helps them grow into adults with good financial habits.

A savings account can be a valuable asset in this journey. It is true that finding the right savings account for your kid is challenging but this step is important. After all, it’s not only about growing their money but also about their personal growth. This is about giving them tools that will help them thrive financially.

Having said that, let’s take a closer look at what features make a savings account best for kids and teens.

1.Kid Friendly Features

Ever thought about what makes a kids saving account truly kid friendly? Well, these accounts should have features customised to young savers, like no minimum balance rules, low fees, and useful educational tools.

Also, a good minor saving account must be easy to open and use. They should offer simple online access and user-friendly mobile banking apps. These features help kids quickly check their balance, move funds, get account statements, set savings targets, and monitor their accounts themselves.

2. Personalised Debit Card

With the Indus Young Saver Savings Account, your kid gets a customised debit card. They can use the ATM card to withdraw cash or shop online. This gives them a sense of ownership and also helps them learn how to spend smartly under your supervision. Along with this, a personalised cheque book is offered for easy offline payments. You can teach them how to write a cheque and use it to deposit, pay, or withdraw money.

3. Educational Resources and Rewards

A truly best children’s bank account should also offer tools or resources to teach them about saving and spending. From online books, pamphlets, websites to mobile apps, such educational resources can easily help children learn about saving money and investing easily in an engaging way.

Do note that some banks even offer rewards in the form of cashback, vouchers, points, etc. These rewards can motivate your kids to continue using their accounts and develop positive financial habits.

4. Customer Service

Consider the quality of customer service provided. It should be friendly, helpful, and 24/7 available. Also check whether they give support via channels like phone, email, in-branch visits or not. A bank that makes it easy for kids and parents to get help and access information means a smoother banking experience.

5. Verify Spending Limits

As a parent or guardian, you should be able to set withdrawal limits and decide the maximum amount your child can spend or withdraw from their account. This method helps to handle savings and stops overspending habits. Consider a youth savings account that lets you set your own limits. This flexibility means you can adjust the limit as per your child’s age, interest and saving plans.

Open a Kids Savings Account Now and Invest in Your Child’s Future

Selecting the right savings account for your child or teen is a task filled with so many considerations. From an easy minor bank account opening online process to user-friendly apps and from reasonable savings account interest rates to useful tools, each factor plays a non-negotiable role. The goal is not just to find a place for your kid’s money. It’s about giving them a foundation to build good saving habits and money management.

So, are you ready to invest in your kid’s future? Consider Indus Young Saver, an exclusive savings account to give your junior a valuable head start. Created specifically for young savers, it has a user-friendly interface, educational value, and security features.

Visit your nearest branch and open an Indus Young Saver Savings Account for your kids today!

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Forex Cards

Forex Cards vs. Cash

Features and Benefits of the Indus Multicurrency Forex Card

1. Convenience

2. Purchase and Loading

3. Account Tracking

4. Security and Safety

Simplify International Transactions with the Indus Forex Card

Five Reasons Why You Need Fixed Deposits in Your Portfolio

1. Safe from Market Fluctuations

2. Flexible Investment

3. Diversification

4. Loan Against FD

5. Tax Savings

Features & Benefits of IndusInd Bank Fixed Deposits

Optimize your Portfolio with IndusInd Bank’s High-Yield Fixed Deposit Accounts

6 Key Features of IndusInd Bank Fixed Deposits

How to Book a Fixed Deposit with IndusInd Bank Instantly?

1. Through Web Application (Applicable for Non-IndusInd Bank customers as well)

2. Through IndusMobile

3. Through IndusNet

IndusInd Bank Fixed Deposit Eligibility Criteria

Use IndusInd Bank Fixed Deposit Calculator to Calculate FD Returns

So, How Does Inflation Impact Fixed Deposits?

Ways to Maximise Returns on Your FDs

Choose IndusInd Bank for Your FD Investments

Open a Kids Savings Account Now and Invest in Your Child’s Future