Open a Senior Citizen Savings Account with IndusInd Bank

Banking that understands your pace of life.

A savings account designed for comfort, security, and dependable support during your retirement years.

Preferential interest rates on fixed deposits for senior citizens

Priority service at IndusInd Bank branches

Easy access to funds, when you need them

Assisted banking support you can rely on

What is a Senior Citizen Savings Account?

A Senior Citizen Savings Account is meant for individuals aged 60 years and above. It allows you to keep your savings safe, earn interest on your balance, and access your money easily for everyday needs.

More importantly, it is supported by assisted banking at branches, clear processes, and services that recognise the importance of trust, transparency, and convenience during your retirement years.

Types of Senior Citizens Savings Accounts offered by IndusInd Bank

Indus Grandé Care Savings Account Program

Join the Indus Grandé care community for a seamless banking experience blending top-tier services with exclusive rewards. Unlock a world of premium banking that put your convenience first.

Key Feature and Benefits

Share banking benefits with your family members
Comprehensive wellness plan by Medibuddy vHealth
Care Engagement Plan
Complimentary airport and lounge access

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Premium

Indus Care Savings Account Program

Discover the Indus Care Savings Account, crafted to support your financial well-being with exclusive wellness benefits. Secure your future with an account that truly cares for you.

Key Feature and Benefits

Dedicated Relationship Team
Priority Servicing across Branches & Contact Centre
Comprehensive wellness plan by Medibuddy vHealth
Care Engagement Plan

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Indus Senior Citizen Savings Account

Specially designed for the senior citizen, which includes special privileges, with an aim to provide complete solace and peace of mind.

Key Feature and Benefits

Free cash and cheque pick up & drop with doorstep banking
Higher Rates on FD

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Key Features of Senior Citizens Savings Accounts

This account focuses on what matters most once you have stepped away from active work life.

Preferential interest rates on fixed deposits for senior citizens

Convenient access to funds through branch and digital banking services

Priority service at IndusInd Bank branches

Nomination facility to help secure your family’s financial future

Clear and transparent charges

On-ground assistance for account-related support and queries

Interest Rates on Savings Accounts

Maximize your savings with attractive interest rates on your IndusInd Bank Savings Account.

You can check out the latest savings account interest rates being offered by IndusInd Bank here .

Domestic / Non Resident (NRO/NRE)	Rate p.a. w.e.f. 1st March 2026
Daily balance upto Rs. 1 Lakh	2.50%
Daily balance above Rs. 1 Lakh upto Rs. 25 Lakh	3.00%
Daily balance above Rs. 25 Lakh upto Rs. 5 Cr	4.00%
*Daily balance above Rs. 5 Cr upto Rs. 100 Cr	5.00%
*Daily balance above Rs. 100 Cr  upto Rs. 150 Cr	7.05%
*Daily balance above Rs. 150 Cr upto Rs. 1400 Cr	7.00%

*Flat Rate applicable on entire balance.

The bank offers floating rate linked savings deposit. Details of the same are as under:

Savings Account Amount Slabs	Rate p.a. w.e.f. 1st March 2026
*Above 1400 Cr up to 2000 Cr	MIBOR
*Above 2000 Cr up to 8000 Cr	MIBOR +100 bps
*Above 8000 Cr	MIBOR +70 bps

*Flat Rate applicable on entire balance.

Please note:

MIBOR Linked floating interest rate will be applicable on entire balance above Rs. 1400 Crs (all rates applicable at the end of the day balances) if the balance exceeds Rs. 1400 crore.
MIBOR Linked floating interest will be calculated on daily end-of-day balance & paid on monthly basis
For more details on MIBOR Linked Floating Interest rate please contact your Relationship Manager or visit your nearest Bank Branch

Click here to check the latest rates in detail.

Rewards and Deals on Senior Citizen Savings Accounts

Along with everyday banking benefits, Senior Citizen Savings Accounts also provide access to selected rewards and merchant offers. These benefits are designed to add value to routine expenses and services, without encouraging unnecessary spending.

*Offers may vary from time to time and are subject to applicable terms and conditions.

Senior Citizen Savings Account Fees and Charges

We follow a simple and transparent approach to fees. The exact charges may vary across Senior Citizens Savings Account variants. Here are some of the common ones:

Account Maintenance Fee

Some account variants carry a quarterly maintenance fee. In certain senior citizen accounts, this fee may be waived.

Charges on ATM Withdrawals

A fixed number of ATM transactions are usually free every month. If the limit is crossed, standard charges may apply.

Charges on IMPS/NEFT/RTGS Transfers

Most digital transfers are free or carry minimal charges, depending on the transaction type and amount.

Debit Card Issuance Charges

An annual fee may be applicable for the debit card. Some account variants offer waiver on this charge.

Cheque Book Charges

Cheque books are provided without any issuance charges for Senior Citizen Savings Accounts.

Note: For detailed information on all fees and charges, kindly refer to respective account variant pages on the website.

Documents Required for Opening a Senior Citizens Savings Account

Proof of identity

Proof of address

Proof of age

PAN card or Form 60, as applicable

Recent passport-size photograph

Our branch staff will guide you through the documentation and verification process.

Eligibility Criteria for Opening a Senior Citizens Savings Account

You can apply for a Senior Citizen Savings Account if you meet the following criteria:

Resident Indian individual

60 years of age or above at the time of account opening

Additional conditions, if any, may apply depending on the account variant selected.

How to Open a Senior Citizens Savings Account

STEP 1

Visit your nearest IndusInd Bank branch

STEP 2

Meet a bank representative for personalised guidance

STEP 3

Submit the required documents and complete the formalities

STEP 4

Your account is opened after due verification

STEP 5

If you prefer, you can also request a callback and a bank representative will get in touch with you.

Visit Your Nearest Branch Today!

What Customers Have to Say

“The staff guided me patiently through the entire process. I feel comfortable knowing my banking needs are handled with care.”

Ramesh Kulkarni

“I like how simple everything is. The account suits my routine and the branch support is always helpful.”

Sunita Mehra

“My pension credits smoothly, and I can access my money easily. The service feels dependable.”

Vijay Nair

“What I value the most is the personal attention. I never feel rushed when I visit the branch.”

Anita Sharma

“The benefits are useful, not flashy. It feels like the account was designed keeping seniors in mind.”

Suresh Iyer

“I appreciate the clarity and transparency. It gives me confidence about my savings.”

Kavita Banerjee

Senior Citizens Savings Account FAQs

Who can open a Senior Citizen Savings Account?

This account is meant for resident Indian customers who are 60 years or older at the time of opening the account. Eligibility is checked during the account opening process at the branch.
Is there a minimum balance requirement for a Senior Citizen Savings Account?

That depends on the account variant you choose. Some senior citizen accounts come with low or even zero balance requirements, while others may ask you to maintain a certain balance. Your branch can explain the exact requirement for each option.
Can pension be credited to a Senior Citizen Savings Account?

Yes, pension payments can be credited to a Senior Citizen Savings Account. Many customers use this account for regular pension credits and day-to-day expenses.
Can an existing savings account be converted into a Senior Citizen Savings Account?

In many cases, yes. If you already have a savings account and meet the eligibility criteria, you can request a conversion to a Senior Citizen Savings Account. The process is handled at the branch and may require a few supporting documents.
Will I be able to use mobile or internet banking with this account?

Yes, digital banking services are available with a Senior Citizen Savings Account. If you are new to mobile or internet banking, branch staff can help you with activation and basic usage.
Is joint holding allowed in a Senior Citizen Savings Account?

Joint holding is allowed in Senior Citizen Savings Account, subject to bank rules. Your branch will guide you on this.
Can I add more than one nominee to my Senior Citizen Savings Account?

As per current banking norms, nomination is generally allowed for one person per account. Nomination details can be added or updated at the branch whenever required.
What happens to the account if the account holder passes away?

In such a situation, the balance in the account is released to the registered nominee or legal heir after completing the required formalities. Having a nominee registered helps make the process simpler for the family.
Are there any tax benefits on a Senior Citizen Savings Account?

The account itself does not offer specific tax benefits. However, interest earned on savings accounts may be eligible for tax deductions under applicable income tax rules. It is best to check with a tax advisor based on your individual circumstances.
Can family members help operate the account?

Yes, family members can assist with account operations if they are authorised through a mandate or other approved instructions given to the bank.
How is a Senior Citizen Savings Account different from the Senior Citizen Savings Scheme?

A Senior Citizen Savings Account is a regular bank savings account that allows easy access to funds for everyday use.

The Senior Citizen Savings Scheme, on the other hand, is a government-backed scheme with a fixed tenure and predefined interest payouts. Both serve different purposes and are governed by different rules.