IndusInd Bank provides an array of products and services for convenient financial dealings. These services are provided for a cost and these are the IndusInd Bank Charges. Choose an account that has low minimum balance requirements and concessions on various service charges. This will help you avoid a lot of charges which otherwise would drain your savings.
Established in 1994, IndusInd Bank is a leading private sector bank providing an assortment of products and services. With innovative digital solutions, the bank provides a personalised banking experience to individuals, businesses, and corporates. The bank has its headquarters in Mumbai and has a strong nationwide presence.
Bank charges encompass the service fees incurred for the utilisation of diverse banking products and services. They comprise penalties levied for non-compliance with account operation regulations. Being aware of these charges will enable you to manage potential penalty triggers, prevent unnecessary expenses and maintain sound financial health.
IndusInd Bank provides an array of products and services. The bank has scheduled charges for these services and the list of some of the IndusInd Bank Charges are given below:
Account Statement Charges
For monthly/quarterly statements collected from the home branch, the bank does not collect any charges. If the physical statement is delivered to your home, the bank collects a delivery charge of Rs. 15. Monthly e-statements are provided free of cost.
Debit Card Charges
IndusInd Bank Debit Card Charges comprise debit card issuance charges, replacement card issuance charges, and duplicate PIN generation charges. The charges for debit card issuance and replacement will be Rs. 250/- and for PIN generation, the bank collects Rs. 20/-
Credit Card Charges
IndusInd Bank credit card charges differ based on the card category. Joining and annual fees are associated with specific card variants. However, certain standard charges, such as cash advance fees, over limit charges, and interest charges, apply to all cards. Understanding these standard credit card charges enables prudent usage and helps avoid unnecessary fees.
Foreign currency debit card transactions attract markup fees which will be a percentage of the transaction amount. IndusInd Bank charges 3.5% of the transaction amount as a markup fee.
Account Closure Charges
The bank collects account closure charges if the account is closed after 14 days from the date of opening. The charges will be Rs. 200/- or the balance in the account, whichever is lower if the account is closed after 14 days but before 6 months of opening the account.
Cheque Bounce Charges
The cheque bounce charges are collected for both cheques issued as well as deposited by the customer. The charges for cheque bounce due to insufficient funds for inward cheques (issued) are Rs. 350/- for the first cheque returned in a quarter and Rs. 500/- for the second cheque onwards. For outward cheques, the charges will be Rs. 50/- per instance.
Here are some tips to avoid IndusInd Bank Charges and keep your finances intact.
- Adhere to the minimum balance condition.
- Check the balance in your account before issuing cheques.
- Ensure that the cheque you deposit will be honoured before presenting the cheque.
- Keep a note of all your utility bills and EMI dates and maintain sufficient balance to honour the auto-debit instructions.
- Subscribe for monthly e-statements. This will avoid your visit to the bank as well as the charges imposed for issuance of physical statements.
- Resort to online transactions as much as possible and avoid issuing cheques.
- Have a word with your bank for waivers and concessions on service charges.
Customers can open Savings Accounts in IndusInd Bank and enhance their savings with the interest earned. Apart from the interest income, savings account holders can enjoy a lot of other services that make their banking journey convenient and pleasurable. Also, IndusInd Bank has an assortment of Savings Accounts to cater to each customer segment depending on their financial status. The list of IndusInd Bank Charges linked to the opening of different Savings Account Types is given below:
|Type of Account||Minimum Monthly Average Balance|
|Indus Progress Savings Account||Rs. 1.00 lakh|
|Indus Select Savings Account||Rs. 1.00 lakh (Grouped)|
|Indus Partner Savings Account||Rs. 1.00 lakh|
|Indus Exclusive Savings Account||Rs. 1.00 lakh and above depending on whether it is an individual or group account|
|Indus Max Active Savings Account||Rs. 25000|
|Indus Multiplier Max Savings Account||Rs. 10000|
|Indus Privilege Savings Account||Rs. 10000|
|Indus Diva Women’s Savings Account||Rs. 20000|
|Indus Digi-Start Savings Account||Rs. 20000|
|Indus Senior Citizen Savings Account||Zero balance|
|Indus Classic Savings Account||Rs. 1500|
|Indus Young Saver Savings Account||Rs. 5000|
|Indus Small Savings Account||Zero|
|Indus Easy BSBDA Account||Zero|
IndusInd Bank allows five free transactions at other bank ATMs. The free transactions are inclusive of financial as well as non-financial transactions. The bank allows unlimited transactions at ATMs within the bank’s network. The charges for ATM transactions beyond the limit are given below:
|Cash Withdrawal (Financial Transactions)||Rs. 20 + GST per transaction|
|Balance Enquiry, PIN change, Mini Statement (Non-financial transactions)||Rs. 10 + GST per transaction|
IndusInd Bank provides a wide range of credit cards with purchase and cash limits depending on your financial status and repayment capacity. On using these cards for offline and online transactions, you may encounter various fees and costs. It is better to be aware of these charges so that you can avoid instances that attract charges and penalties and make the usage of credit cards cost-effective. The list of IndusInd Bank Credit Card Charges is given below.
|Type of Fees||Charges collected|
|Joining Fee- depends on the card type||Chelsea FC: Rs.1099 Platinum Aura: Rs.5999 Platinum Aura: Rs.5999 Platinum: Rs.17999 Icon: Rs.17999 Signature: Rs.50000 Pinnacle: Rs.100000 WorldMiles Platinum: Rs.5000 WorldMiles Signature: Rs.7500 Jet Airways IndusInd Bank Odyssey Credit Card: Rs.10000 Jet Airways IndusInd Bank Voyage Credit Card: Rs.4000|
|Annual Fee||Chelsea FC: Rs.500 Platinum Aura: Nil Platinum Aura: Nil Platinum: Nil Icon: Rs.17999 Signature: Nil Pinnacle: Nil WorldMiles Platinum: Rs.1500 WorldMiles Signature: Rs.2500 Jet Airways IndusInd Bank Odyssey Credit Card: Rs.4000 Jet Airways IndusInd Bank Voyage Credit Card: Rs.2000|
|Add-on Card Fee||Nil|
|Interest Charge||3.83% p.m. and 46% p.a.for all cards. The interest is charged after the interest-free period of 50 days. The interest-free period is not applicable if the total amount due is not fully paid|
|Late Payment Charges||Up to Rs. 100: Nil Rs.101 to Rs.500: Rs.100 Rs. 501 to Rs. 1000: Rs. 350 Rs. 1001 to Rs. 10000: Rs. 550 Above Rs. 10001: Rs.700|
|Over limit charges||2.5% of the over-limit amount subject to a minimum of Rs. 500|
|Returned cheque||Rs. 250|
|Cash Advance||2.5% of the advance amount with a minimum of Rs. 300|
|Balance Enquiry Charges on Non-IndusInd Bank ATMs||Rs. 25 per|
|Foreign Currency Mark up||3.5% of the transaction amount|
|Cash payment fee at the IndusInd branch||Rs. 100|
|Duplicate Statement||Rs. 100 per statement (beyond the last 3 months)|
|Fuel Surcharge||2.5% subject to a minimum of Rs. 10|
|Re-issue/Replacement of credit card||Rs. 100|
|Charge Slip request||Rs. 300|
|Usage charge at Priority Pass Lounges||US $ 27 per person per visit|
IndusInd Bank provides funds transfer both offline/online through NEFT. The bank levies certain fees for processing the funds transfer done through this electronic mode. The fee depends on the amount of the transaction. The bank, however, does not collect fees for NEFT transactions done through Internet Banking or Mobile Banking. There are no charges for NEFT inward (collection) transactions.
|Up to Rs. 10000||Rs. 2.50 + GST|
|Above Rs. 10000 up to Rs. 1.00 lac||Rs. 5 + GST|
|Above Rs. 1.00 lac up to Rs. 2.00 lacs||Rs. 15 + GST|
|Rs. 2.00 lacs to Rs. 5.00 lacs||Rs. 25 + GST|
|Above Rs. 5.00 lacs||Rs. 50 + GST|
RTGS is a faster mode of transfer of funds. The funds are credited to the beneficiary’s account in real-time. Transfer of funds from 2.00 lacs onwards can be done through this mode. The bank does not collect charges for RTGS inward transactions as well as RTGS done through Internet Banking or Mobile Banking.
IndusInd Bank Charges : FAQs
IndusInd Bank provides NEFT/RTGS services for free for certain SB Account Variants.
IndusInd Bank DD Charges depend on the transaction amount. The charges are Rs. 2.50 per 1000 with a minimum of Rs. 50 and a maximum of Rs. 5000/-
The IndusInd Bank minimum balance charges depend on the average monthly balance maintained. It is charged at a percentage of the average monthly balance shortfall with a minimum of Rs. 50 and a maximum of Rs. 150 per month.
The ECS Return Charges IndusInd Bank is Rs. 450/- per return. The charges are collected if the return is due to insufficient funds.
The charges collected by the bank for enquiry regarding old records is Rs. 100/- per enquir
NEFT stands for National Electronic Fund Transfer.