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Indus American Bank Offers Checking Interest

The Iselin bank, which caters to the township's South Asian communities, has a checking account that earns interest rates for small businesses


A Woodbridge-based bank founded to serve the South Asian community in the township is now offering a way for small businesses to earn interest rates on checking accounts without having to maintain other separate bank accounts.

Indus American Bank's Smart Business Checking consolidates savings, money market and checking accounts in one convenient and cost-effective account, eliminating the need to transfer funds back and forth between accounts.

With a minimum balance of $10,000 to open and a daily balance of $10,000 required to earn interest and avoid monthly fee, the Smart Business Checking Account comes with unlimited check writing, free mobile banking, online banking with bill pay, Debit / ATM card, and a choice of a paper or electronic monthly statements.

"We created Smart Business Checking in response to our small business clients' needs for more expedient banking methods that would also allow for a maximum return on their deposits," said Anil Bansal, Executive Chairman of Indus American Bank, in a statement.

Founded in 2004 and headquartered on Oak Tree Road in the Iselin section of the township, Indus American Bank has other branches in Jersey City, Parsippany and Hicksville, NY, and plans to expand to other cities in New Jersey and New York. They specialize in SBA loans to small businesses, lines of credit to medical professionals, home equity lines of credit and free rupee money transfers to India. 

For more information, call 732-603-8200 or visit indusamericanbank.com.

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