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Indus Online Savings Account - Zero Balance Account

Indus Online Savings Account is a zero balance savings account. You can open IndusInd Bank zero balance account online by filling up an online application.

Indus Online Savings Account is a zero balance savings account from IndusInd Bank. You can open IndusInd Bank zero balance account online by filling up an online application. The bank has waived minimum average balance of the account if customers opt for a platinum debit card or instantly funds the account during the online account opening process.

Variants of Indus Online Savings Account

Indus Online savings account comes in three variants: Indus Online Account – Premium Debit Card, Indus Online Account – Instant Funding and Indus Online Account – Instant Funding. The variant depends on the account opening process.    

While opening zero balance account in IndusInd Bank, you will get the option for instant funding or premium debit card. After you choose one option, the bank will waive the minimum average balance from your Indus Online Savings Account.

Indus Online Account – Instant Funding

If you want to initial high funding of Rs.20,000, your online savings account will be Indus Online Account – Instant Funding.  With this account, you will receive a Titanium debit card that comes with Rs.249 plus taxes. 

Indus Online Account – Premium Debit Card

The monthly balance is waived off if you can also opt for a Platinum Debit Card issuance. The fee of the platinum debit card is Rs.1000 + taxes. 

Who can open Indus Online Savings Account?

IndusInd Bank’s online savings account can be opened by:

  • Individuals residing in India
  • Indian citizens
  • Individuals above 18 years of age
  • Aadhaar Card holder
  • PAN holder

How to Open Indus Online Savings Account?

You can open Indus Online Savings Account online directly through the bank’s website.

  1. Navigate to Online Savings Account from the IndusInd Bank’s home page and click on ‘Apply Now’. Or click here to start the account opening process.
    indusind bank new account opening zero balance

  2. Click on ‘Open your account’ now.

  3. Add your mobile number and your account number will be created based on your mobile number. You can add any other number such as your birthday or anniversary. Just check for availability of your number. 

  4. Enter the OTP that you have received on your mobile phone.

  5. Enter your nearest city or location. Bank branch will be allotted based on this location. Enter your Aadhaar number and  PAN. Accept terms and conditions and click on ‘Send Verification Code’.

  6. Enter the OTP on the same page and click on ‘Continue’.

  7. Enter your personal details. Some details will be auto populated from the Aadhaar data base. Enter the other details.

  8. In the next step, enter your nominee details.

  9. In this stage, you will need to choose your Indus Online Savings zero balance account i.e. instant funding or premium debit card.

  10. Add a UPI id address of your choice. Enter your mobile banking details such as your username, Mobile banking PIN. You will need these details to access your IndusInd Bank mobile banking app.

  11. Now, you can verify the details you have added. If everything is okay, click on continue.  

  12. In this step, depending on the savings account that you have opted, you may have to fund your account or pay for the debit card.  You will see the amount that needs to be paid on your screen. For instant funding account, the amount will be Rs.20,000 plus taxes and for the debit card variant, you will need to add a minimum amount of Rs.1,000. You can use internet banking or UPI to pay.

Your account is now open.  

Features of Indus Online Account – Premium Debit Card

  • Minimum average balance is waived off.
  • You get a Platinum Plus Debit Card that comes with a host of features. 
  • Freedom to choose the account number of your choice.
  • Secure your Indus Mobile App by your fingerprint.         
  • Get all balance and transaction alerts on Whatsapp. Click here to know how to start Whatsapp Banking.
  • You can book your cab, order food from your Indus Mobile
  • Withdraw cash with no charges and deposit cash up to Rs.2 Lakhs with no charges.
  • Movie goers are in for a treat. You can receive up to 12 free movie tickets per year on BookMyShow. You get one ticket when you buy one.
  • You can save up to Rs. 250 per month on fuel surcharge waiver.
  • The savings account comes with a higher ATM Limit of Rs. 1.25 lakhs per day and daily POS limit is Rs. 2.5 lakhs.

Features of Indus Online Account – Indus Online Account – Instant Funding

  • The bank waive off the minimum average balance on initial deposit of Rs.20,000. You can withdraw the amount when required and you don’t have to worry about any penalties.
  • Based on availability, you can choose an account number of your choice.
  • Account holders are offered Titanium Debit Card.
  • You can avail fingerprint banking on Indus Mobile.  
  • Customers can transfer money online through IMPS/NEFT/RTGS with no charges.
  • You can also get balance and transaction Alerts on Whatsapp.
  • Book your cab or order food online through your IndusInd Bank mobile banking app.
  • Withdrawal cash and deposit cash up to Rs. 2 Lakhs with no charges.
  • You get 1 reward point for every Rs. 400 that you spend. You can later redeem the reward points.
  • You can save up to Rs.125 per month on fuel surcharge.
  • The daily ATM Limit of the account stands at Rs 50,000 and the daily POS Limit is 1 lakh.

Interest Rates on Indus Online Savings Account

Indus Online Savings Account offers an interest rate of up to 6%. The interest rate provided by the bank starts at 4%.

Daily balanceInterest rate
Daily balance Upto Rs. 1 Lakh4%
Daily balance above Rs. 1 Lakh & upto (& including) Rs. 10 Lakhs5%
Daily balance above Rs.10 Lakhs6%

Things to keep in mind while opening IndusInd Bank zero balance account

  • IndusInd Bank waives off the minimum average balance requirement if the customer opts for the platinum debit card or carries out initial funding of the account with Rs.20,000.
  • You can open the account through the bank’s website without filing out any paper documents.
  • As the account is an online savings account, you need to complete the full KYC process of your account within 12 months to continue using the account. If you don’t complete the full KYC process within 12 months, the bank will deactivate your account. You can visit the nearest bank branch to complete your KYC.
  • Before you complete the full KYC, you can hold only Rs.1 lakh at a time and your total credit transactions cannot exceed Rs.2 lakhs.

Conclusion on IndusInd Bank zero balance account: 

Indus Online Savings Account comes in three variants. Indus Online Account – Premium Debit Card and Indus Online Account – Instant Funding are the two zero balance variants. Indus Privilege Online Account has an average monthly balance of Rs.10,000. 

One can choose the account number of their choice. It gives customers the option to choose between the premium debit card or the instant funding variant during the new account online opening journey. In this case, it waives the minimum average balance requirement off for their entire lifetime.

FAQs on IndusInd Bank zero balance account

Can I open zero balance account in IndusInd Bank?

Yes. You can open a zero balance account in IndusInd Bank. Indus Online Savings account is a zero balance account of IndusInd Bank.  

What is IndusInd Bank zero balance account?

Indus Online Savings Account, a zero balance account, is a digital savings account that can be opened online by filing up an online application.

How can I open IndusInd digital savings account online?

You can open IndusInd digital savings account online directly from the bank’s website. You will need your PAN card, Aadhaar number and Aadhaar-registered mobile number to open the account.

What is the minimum balance in IndusInd Bank’s online savings account?

Indus Online Account – Premium Debit Card and Instant Funding account are the two variants of online zero balance savings account. There is no minimum balance requirement for these accounts.    

How much interest rate is offered on IndusInd Bank’s online savings account?

IndusInd Bank offers up to 6% interest rate on online savings account.

What are the features of IndusInd Bank’s digital savings account?

Here are some of the top features:

1. Open account online instantly
2. Minimum average balance is waived off
3. Freedom to select your Choose your account number

Will I get a debit card with IndusInd Bank zero balance?

Premium debit card account holders receive platinum debit card while Instant Funding account holders receive titanium debit card.

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