7% Returns On Savings Accounts? IndusInd Bank Makes It Happen From April; How?

With effect from April 17, 2025, IndusInd Bank has changed the interest rates on its customers' savings accounts in recognition of the importance of savings in reaching a number of financial objectives. Customers would earn a maximum return of 7% after the modification, which IndusInd Bank made feasible after the RBI repo rate cut in April. Based on IndusInd Bank's balance slabs, here are the updated savings bank account interest rates for domestic and non-resident (NRO/NRE) accounts.

IndusInd Bank Savings Account Rates

The bank is now giving an interest rate of 3.00% on daily balances up to Rs 5 lakh, and 4.00% on daily balances beyond Rs 5 lakh up to Rs 10 lakh at IndusInd Bank. For daily balances above Rs 10 lakhs to Rs 25 lakhs, IndusInd Bank is now offering an interest rate of 5.00%. For daily balances over Rs 25 lakhs to Rs 50 lakhs, IndusInd Bank will apply an interest rate of 6.00%. An interest rate of 7.00% will now be applied to savings accounts with daily balances over Rs. 50 lakh up to Rs. 5 cr and Rs. 5 cr up to Rs. 100 cr. for savings accounts.

"Understanding the prevailing interest rates on savings accounts can help you with effective financial management. As of 17th April 2025, the rates offered on IndusInd Bank's Savings Accounts in India vary based on the daily balance maintained, catering to domestic and Non-Resident Individuals (NRO/NRE)," mentioned IndusInd Bank on its website.

At its meeting on April 17, 2025, the Board of Directors authorized the promotion of Mr. Santosh Kumar, the Chief Accountant, to the position of Deputy Chief Financial Officer and Special Officer - Finance & Accounts. He was also named a "Key Managerial Personnel" of the Bank, effective Friday, April 18, 2025. Until a full-time CFO is hired, Mr. Santosh Kumar is permitted to oversee the bank's financial and accounting operations.

Key performance metrics for the quarter and fiscal year that concluded on March 31, 2025, have been released by IndusInd Bank. The bank's net advances increased 1.4% from Rs 3,43,298 Cr in FY24 to Rs 3,47,933 Cr in FY25. While the bank's consumer business rose by 6.3% year over year, corporate banking fell by -4.9%. According to IndusInd Bank, its total deposits increased 6.8% from Rs 3,84,793 Cr in FY24 to Rs 4,11,140 Cr in FY25. In FY25, the bank's CASA ratio was 32.8%, down from 37.9% the year before.