IDBI Bank Savings Account

IDBI Savings Accounts are established so that depositors can earn interest on their funds. Though money in a savings account cannot be used instantly, it is an excellent method to lay aside a portion of your liquid assets for the future. It essentially means more interest and faster accumulation.

IDBI Bank Savings Account provide you with an all-inclusive financial solution that includes a variety of options for managing your money wisely.

IDBI Saving Account Interest Rate

Here is the table for the IDBI savings account interest rates-

Balances

IDBI Bank Savings Account Interest Rate

Up to Rs. 5 crores

3.00% p.a.

More than Rs. 5 crores and less than Rs. 100 crores

3.25% p.a.

More than Rs. 100 crores

3.50% p.a.

Characteristics of the IDBI Bank Savings Account

There are numerous advantages to opening a savings account with IDBI Bank. An overview is provided below-

  • When you save your money in a savings account, it is safe and secure.
  • Different savings accounts for various needs.
  • Net Banking, Mobile Banking, and SMS Banking make it simple to access your account.
  • Receive a free Debit/ATM card.
  • Earn up to 3.40% p.a. on your IDBI Bank Funds Account, allowing your savings to grow faster.

How to Open an IDBI Savings Account?

It is simple to open an IDBI Bank Savings Account. Simply phone or visit your closest IDBI office, and one of the staff will walk you through the steps.

Customers can also apply for an IDBI Savings Account by submitting a completed online application form on the bank's website.

Who is Eligible to Open a Savings Account with the IDBI Bank?

All Indian residents are eligible to open a savings account with IDBI Bank.

Documents Needed to Open an Account with IDBI Bank

  • Identity Proof as per KYC Norms: PAN Card, Aadhar Card, Driving License, Voter ID Card, etc. Address 
  • Proof as per KYC Norms: Aadhar Card, Valid Passport, Utility bill, Property tax bill, Telephone bill, etc. 

Charges of the IDBI Bank Savings Account

Closure Charges

Nil - RS. 500

The closing charges of the account can vary based on the tenure of the savings account with IDBI Bank.

Types of the IDBI Savings Accounts

Following are the several types of Savings Accounts offered by IDBI Bank-

1) IDBI Bank Small Account

  • This is for anyone who does not have enough KYC documentation.
  • It is a zero-balance account with full banking services.
  • You can get transactional SMS and email alerts, a free Debit/ATM card, and free monthly account statements through email.
  • On request, a cheque book is available.
  • You can also use the ATM Card to shop at any retail outlet.

2) IDBI Super Savings Account

  • This Savings Account provides you with easy access to your money while also providing banking comfort.
  • It aids in the growth, saving, and management of money.
  • You gain benefits like quick cash transfers, an International Debit Card, online tax and bill payment, gift and travel solutions, demand drafts and pay orders, value-added services, bank on the go, easy payments, and account profit.

3) IDBI Bank Sabka Basic Savings Account

  • This is a standard savings account with full KYC.
  • There is no minimum balance required. As a result, it is a zero-balance account. It includes transaction SMS and email alerts, a free International Debit/ATM card, and free monthly consolidated account statements through email.

4) IDBI Bank Preferred Account

  • This Preferred Personal Banking Account includes perks including a complimentary Passbook at the home branch for individual account users, a welcome kit with all deliverables.
  • A personalized cheque book, insurance coverage, Anywhere Banking, and an International Platinum Debit Card (higher cash withdrawal limit and POS)
  • Higher NEFT and RTGS limits

5) IDBI Being Me Account

  • The 'Being Me' savings account is designed for young people.
  • The account assists young people in becoming acquainted with banking operations and developing financial discipline. 
  • The agreement gives favorable interest rates on college loans, reduced fees for creating a share trading account with the ICMS, financial planning training, and preference for project work at the institution depending on seat availability.

6) IDBI Bank SuperShakti Women's Account

  • This is a woman's zero-balance savings account.
  • It is also free for her minor children under the age of 18. The allotment is for two free child accounts.
  • It includes online tax or bill payment choices, minimal documentation, and quick fund transfer.

7) IDBI Bank Powerplus Account

  • It meets your daily banking needs while also providing top-up benefits.
  • Free NEFT through net banking, account-to-account transfer, free check deposit at any branch, 25% off any size locket
  • Increased cash withdrawal limit and POS on International ATM-cum-Debit Card.

8) IDBI Bank Royale Account

  • With premium features and free services, the Savings Account brings royalty to banking.
  • You will receive a welcome kit containing all deliverables such as a Debit Card, a cheque book, and other contents as per your banking needs
  • Free access to international and domestic ATMs, free NEFT and RTGS (higher limit) through net banking and branch

9) IDBI Bank Senior Citizen Accounts

  • It is designed for senior citizens to help them with banking transactions and other services.
  • It is the best approach to saving and growing money, thanks to the Auto Sweep Out/Sweep In feature.
  • It is a zero-balance account with straightforward documentation.
  • You can make a rapid transfer of funds, receive a free statement via email, and pay bills and taxes online.

10) IDBI Bank Pension Saving Account

  • Special benefits include faster transactions, exclusive deals, value-added services, and hassle-free amenities.
  • You can also get instant banking, online tax and bill payment choices, an International Debit Card, opportunities to grow money at high-interest rates, simple payments, travel and gift solutions, bank on the go, Pay order and Demand Draft, and profit on the account.
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