How can I download an FD advice?
You can download an FD advice under “Deposits” > “View All Deposits” > Select the FD Account > “Manage FD” > Select “Download FD Advice” in the drop-down.
How can I link/ de-link FD to my Savings Account?
You can link/ de-link an FD under “Deposits” > “View All Deposits” > Select the FD Account > "Manage FD" > Select “Link Savings Account” in the drop-down. In case your FD is already linked to savings account you will see a "De-Link Savings Account" option.
Can I link a tax saving FD to my Savings Account?
No, you cannot link a tax saving FD to your savings account
Can I change maturity instructions for my FD?
Yes, you can change maturity instructions for your FD under “Deposits” > “View All Deposits” > Select the FD > "Manage FD" > Select “Change maturity instructions” in the drop-down.
Can I do partial withdrawal from an FD?
Yes, you can perform a premature closure of your FD and get either full or partial withdrawal from the FD.
Go to “Deposits” > “View All Deposits” > Select the FD > "Manage FD" > Select “Premature Closure” in the dropdown. Then select partial or full withdrawal basis your requirement. In case of partial withdrawal, select amount (amount must be less than the principle)
What are the fixed deposit rates offered by INDIE?
Please refer https://www.indusind.com/in/en/personal/rates.html for applicable FD rates
What is the benefit of linking FD to Savings account
This feature allows users to make payments or transfers that exceed their savings account balance by debiting the shortfall amount from their Fixed Deposit (FD). After the transaction, the savings account balance may temporarily show as negative, but it will be corrected at the end of the day with the appropriate amount debited from the FD. Users also have the option to de-link the FD from their Savings Account at any time.
Are there any penal charges on premature withdrawl of an FD?
Yes, there is a 1% penal charge on premature withdrawals, which is applied to the interest amount.
However, there are no penal charges on premature withdrawals of auto sweep FDs. Additionally, for FDs booked or renewed between March 24, 2025, and April 23, 2025, the 1% penalty on premature closure will not be levied.
What is Auto Sweep FD on INDIE?
INDIE Auto sweep is a feature that links your INDIE Savings Account to a FD, which allows you to earn higher returns on the surplus money in your Savings Account. The auto sweep feature gives you the facility to transfer funds from savings into a fixed deposit in an automated way.
All that a user needs to do is to set a threshold limit, so that whenever the Savings Account balance exceeds this limit, any amount over this limit is immediately transferred into a FD.
How is it different from Normal FD?
Normal FD is a one–time lump sum with fixed tenure and fixed rate where you must request/create new each time you want to convert your surplus money to an FD.
Whereas Auto Sweep FD gives you the flexibility, such that money in your Savings Account above a threshold, gets converted into FD automatically, thereby earning you higher returns.
What is the min. Amount to start Auto Sweep FD?
Auto Sweep FD can be booked whenever Savings Account balance is higher than the threshold set by the user (minimum ₹20,000), and is booked in multiples of ₹10,000. After activating this feature, user can set the sweep limit at his/ her convenience.
E.g. - User’s Savings Account Balance is ₹55,000 and has set the minimum account balance to ₹30,000 for Auto-sweep. In this case, the auto sweep feature kicks in, and ₹20,000 is transferred into FD and the remaining balance in SA is ₹35,000.
Can I edit the limit of Auto Sweep FD?
Yes, it gives you the flexibility to edit the minimum Account Balance limit and threshold limit of the sweep-in feature to help you build a corpus.
How can I close Auto Sweep FD?
You can close the Auto Sweep FD feature, like any regular FD, i.e. once the maturity period is over or the user can also do a pre-mature withdrawal.
When will the amount be deducted? (on a particular date of a month or anytime)
Whenever the savings account balance exceeds the limit set for Auto Sweep, the excess amount will be transferred into a fixed deposit (FD) on the next day.
Are there any penal charges on premature withdrawl of an auto sweep FD?
No, there are no penal charges on premature withdrawals of auto sweep FDs.
