Terms and Conditions: Account Upgrade

I/We hereby authorize Indusind Bank Ltd, to upgrade my/ our Account(s) to/under the Program as indicated above.I/ We have read, understood and concur to all Terms & Conditions (T&Cs), Schedule of Charges (SOC), features, offers, services, privileges, fees and charges associated with the upgrade of my/our account(s) under the Program and re-affirm that all details provided as per my/our consent stand true and factual. I/We abide to maintain the minimum relationship value requirement related and specified to the account. I/We understand that any/all account held by joint account holders will also be upgraded to the same variant as primary. I/We hold ability to pay all obligatory charges as prescribed by the bank for non-maintenance of the same, additionally refrain from raising any claim/dispute in this regard, I/We agree to receive an upgraded personalized kit with international chip debit card at the communication address and authorize IndusInd Bank Ltd to deactivate my/our existing Debit Card(s) issued on my/our account(s), 45 days post activation of new international Debit Card (For Select, Grande, Exclusive Pioneer and Private Savings Account Only). I/We understand that the Average Quarterly Balance (AQB) of my upgraded account has to be

• Grande - ₹ 5,00,000
• Exclusive - ₹ 1,00,000
• Select - ₹ 50,000

Eligibility Criteria

PIONEER Program                    

Average Quarterly Balance of 10 lakh (group based) and above in a Savings Account or Current Account                                      

Alternatively, Net Relationship Value* of `30,00,000 (group based) and above with an Average Quarterly Balance of `1,00,000 (group based) and above in a Savings or Current Account. 

*Net Relationship Value = CA AQB + SA AQB + FD AQB + MF AUM (invested amount for active investments) + Insurance Premium (active policies) + Demat Account’s Holding Value (AQB - Average Quarterly Balance)

PIONEER Private

• Average Quarterly Balance of ₹1 Cr (group‑based) and above in a Savings Account or Current Account.

Alternatively,

• Net Relationship Value (NRV) of ₹3 Cr (group‑based) and above with an Average Quarterly Balance of ₹5,00,000 (group‑based) in a Savings or Current Account.

*Net Relationship Value (NRV) =
CASA AQB+ Investments AUM + 30% of {Fixed Deposits and FCNR incl. Fx Forward AQB (3 months rolling average) + Insurance Premiums (of active policies, single premium policies excluded) + IBL DP / PIS Value Average Quarterly Value (3 months rolling average) + disbursed value of Consumer Assets (LAP, LAS, HL, Vehicle Loan, PL disbursed amount)}