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Holiday savings account from IndusInd Bank

IndusInd Bank has partnered with Thomas Cook India to launch a holiday savings account. Customers have to save in a one-year recurring deposit, which offers interest rate of 9.1% and they have to pay 12 instalments. The last instalment, that is, the 13th instalment, consists of the interest earned plus a top-up amount paid by Thomas Cook. When the RD matures, the money is transferred to Thomas Cook to pay for the holiday package. Customers can choose the monthly amount for the RD, depending on the destination they choose and the package cost. In case customers are not able to avail of the holiday package, they can withdraw the money like a normal RD. But in that case they will get not the top-up offered by Thomas Cook. One advantage with the scheme is that a customer can book package at the time of opening the account and the rate will prevail at the time of the maturity of the recurring deposit account.

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