IDFC FIRST Bank Savings Account
IDFC First Bank savings account offers a variety of savings accounts to consumers in order to meet their banking needs. The bank also offers savings accounts tailored to senior adults, women, and minors, as well as accounts with premium features and advantages and others with basic characteristics.
Enlisted below are the features, IDFC first bank savings account interest rate, charges, and more information in detail.
Details about IDFC First Bank Savings Account Interest Rate
Following are the IDFC interest rate on saving account-
|
Balances |
IDFC Bank Savings Account Interest Rate |
|
Less than Rs. 5 lakhs |
3.00% |
|
Rs. 5 lakhs - Rs. 100 crores |
7.25% |
|
Rs. 100 crores - Rs. 200 crores |
4.50% |
|
More than Rs. 200 crores |
3.50% |
The IDFC Bank interest rates on saving accounts change with time and the balances in the account.
Features of the IDFC First Bank Savings Account
- Zero Fee Banking on all commonly used savings account services like IMPS, NEFT, RTGS and more
- Monthly Interest Credit
- Higher Interest Rates
Eligibility to Apply
To be eligible to create a savings account with IDFC FIRST Bank, applicants must meet the following criteria-
- Should be an Indian national.
- Foreign nationals who live in India and meet GOI requirements.
- You must be a resident of India.
IDFC Savings Account Opening Procedure
- Offline:You can visit the nearest branch of the IDFC First Bank with relevant documents and open the account.
- Online: You can log in to the mobile banking application of IDFC First Bank and open an account.
Required Documents to Open a Savings Account
The following documents are required to open a savings account with IDFC First Bank-
- You must have a passport-sized photograph, one form of identification, and proof of address. Your Aadhaar card, passport, and driving license verify your identity as well as your address.
- Aadhaar Card - The Government of India requires Aadhaar cards as proof of address (UIDAI – Unique Identification Authority of India). If you do not yet have an Aadhaar card, please furnish us with your Aadhaar Enrolment Number.
- PAN Card - A PAN card is needed at the time of account opening.
Charges of the IDFC First Bank Savings Account
|
Monthly Balance Non-Maintenance |
Rs. 50 – Rs. 400 |
|
International ATM Charges |
Forex markup 2% of the transaction |
Types of IDFC First Bank Savings Accounts
Following are the various types of Savings Accounts offered at IDFC First Bank along with respective features-
1) IDFC Bank Savings Account
IDFC First Bank offers two types of ordinary savings accounts, depending on the type of debit card supplied with the account.
- Make a deposit of 25K/10K to open the account
- Transfer of funds are completely free
- Lifetime free Debit Card
- Free ATM Transactions at IDFC Bank ATMs and at non-IDFC Bank ATMs
- Banking support is available 24/7
2) Women's Savings Account
- Complimentary health benefits for 1 year with MediBuddy
- Up to 50% discount on 1st year locker rental
- Free & unlimited ATM transactions at any bank’s ATM in India
- Monthly interest credits versus the industry norm of quarterly interest credit
- Free First Power VISA Signature Debit Card
3) Minors Savings Account
It is designed particularly for children under the age of 18. This savings bank account helps children learn the fundamentals of money management.
- No Average Monthly Balance requirement - Under guardian
- Monthly Interest Credit on Savings
- Sweep out facility
- Unlimited free ATM transactions at any bank, anywhere in India
- Free VISA Platinum/Classic Debit Card
Other Bank’s Savings Account
4) Corporate Salary Savings Account
This is a salary account reserved solely for employed professionals.
- Get a monthly salary credit of 50k to open the account
- Avail Times prime/Swiggy/Amazon subscriptions on regualar salary credits
- Transfer of funds are completely free
- Lifetime free debit card & Free ATM Txns
- Avail complimentary airport lounge access
