IDFC FIRST Bank Savings Account
IDFC FIRST Bank, known for its innovative approach to banking, offers a diverse range of Savings Accounts designed to help you grow your wealth while enjoying convenient features and exclusive benefits. Whether you’re a young professional starting out, a seasoned investor seeking high returns, or someone focused on everyday banking simplicity, there’s an IDFC FIRST Bank Savings Account perfect for you.
Features and Services of IDFC FIRST Bank Savings Account
Versatile Account Options: IDFC FIRST Bank provides various savings accounts catering to different requirements, including regular savings accounts, salary accounts, and specialized accounts for students and senior citizens.
Convenient Banking Services: Access a wide array of banking services such as online banking, mobile banking, phone banking, and SMS banking for seamless account management and transactions.
Attractive Interest Rates: Enjoy competitive interest rates on your savings balance, ensuring that your money grows steadily over time.
Debit Card Facilities: Receive a complimentary debit card with your savings account, enabling convenient access to ATMs, online payments, and other benefits.
Customer Support: Benefit from personalized customer service and support to address any queries or concerns related to your savings account.
Types of IDFC FIRST Bank Savings Accounts
- Savings Account: Enjoy high interest rates, zero charges on 28 commonly used transactions, and no minimum balance requirement.
- Digital Savings Account: Open instantly online with zero balance and enjoy convenient features like instant transfers and bill payments.
- Super Savings Account: Earn higher interest rates with a minimum balance requirement and avail exclusive debit card benefits.
- Freedom Savings Account: Designed for students with zero balance requirement and features like educational goal planning tools.
- Pehla Kadam Savings Account: Start your child’s financial journey with a joint account for minors and enjoy attractive interest rates.
- NRI Savings Account: Manage your finances conveniently if you live abroad with dedicated NRI-focused features and benefits.
IDFC FIRST Bank savings account minimum balance and Interest rates
| Account Type | Minimum Balance (₹) | Interest Rate (%) |
|---|---|---|
| Savings Account | 0 | Up to 7.00 (monthly credits) |
| Digital Savings Account | 0 | 3.00 |
| Super Savings Account | 25,000 | 3.50 – 4.00 |
| Freedom Savings Account | 0 | 3.00 |
| Pehla Kadam Savings Account | 0 | 3.00 |
IDFC FIRST Bank Savings Account charges
| Transaction Type | Charges |
|---|---|
| ATM Withdrawal (Non-IDFC FIRST Bank ATMs) | Rs. 20 per transaction |
| Cheque Book Issuance | First Cheque Book Free, Subsequent Charges Apply |
| NEFT/RTGS Transactions | Charges may apply based on transaction amount and channel |
Steps to Open an IDFC FIRST Bank Savings Account:
- Research Account Types: Visit the IDFC FIRST Bank website or contact the nearest branch to explore the different types of savings accounts offered by the bank. Choose the one that best suits your needs.
- Visit IDFC FIRST Bank Branch: Locate the nearest IDFC FIRST Bank branch in your area.
- Collect Required Documents: Gather the necessary documents required for opening a savings account, including identity proof, address proof, and passport-sized photographs.
- Fill Out Application Form: Obtain the account opening application form from the branch or download it from the bank’s website. Fill out the form with accurate personal and contact details.
- Submit Documents: Submit the duly filled application form along with the required documents to the bank representative at the branch.
- Minimum Deposit Requirement: Ensure that you meet the minimum deposit requirement specified by IDFC FIRST Bank for the selected savings account type. Deposit the required amount into the account.
- Account Verification: The bank will verify your application and documents provided for compliance with regulatory requirements.
- Receive Account Details: Once your application is processed and verified, you will receive your IDFC FIRST Bank savings account details, including the account number and welcome kit.
- Activate Account: Your IDFC FIRST Bank savings account will be activated upon successful verification of your application. You can start using your account for deposits, withdrawals, and other banking transactions.
- Set Up Online Banking: If desired, register for online banking services to access your account conveniently from anywhere, anytime.
Documents Required for Opening a Standard Chartered Savings Account:
Ensure you have the necessary documents ready for opening a savings account. These typically include:
- Identity Proof (Aadhaar Card, Passport, Voter ID, PAN Card, etc.)
- Address Proof (Aadhaar Card, Passport, Utility Bills, Rental Agreement, etc.)
- Passport-sized photographs
Benefits of a IDFC FIRST Savings Account:
- Savings Account: High interest, no minimum balance, free ATM withdrawals.
- Digital Savings: Instant online opening, zero balance, convenient mobile management.
- Super Savings: Higher interest with minimum balance, premium debit cards.
- Freedom Savings: Zero balance for students, educational tools.
- Pehla Kadam: Joint account for minors, attractive interest rates.
- NRI Savings: NRI debit cards, online transfers, competitive exchange rates.