Avail free NEFT and RTGS transfers: Switch to IDFC FIRST Bank Savings Account

Isn't it tiring to pay for common banking services every time? From issuing a chequebook to address confirmation to ATM withdrawals beyond a specified limit, small charges amount to bigger ones at the end of the year. If you round them off, you would be able to save that and invest it elsewhere or make use of monthly interest credits.

This is where IDFC FIRST Bank Savings Account comes into the picture!

Digital payments have become the common norm in today's age, thanks to the smartphone and internet, enabling you to transfer funds through –

• RTGS
• NEFT
• IMPS
• UPI
• Mobile wallets, etc.

With the IDFC FIRST Bank Savings Account, you can complete several regular transactions digitally. Let's take a quick look at how you can benefit.

IDFC FIRST Bank Savings Account – a fee-free banking experience
 

Explore IDFC FIRST Bank Savings Account, which has a suite of 28 zero-fee* services that allow you to bank without the burden of added cost. Say goodbye to RTGS charges, NEFT charges, IMPS charges and other ancillary fees to the bank free of cost. 

Here’s a look at the services which are available free of cost –

• IMPS charges (outward)
• NEFT charges (outward at branches)
• RTGS charges (outward at branches)
• Cash deposit & withdrawal charges at branches (by number)
• Cash deposit & withdrawal charges at branches (by value)
• SMS alert charges
• Cheque book re-issuance charges
• Debit Card issuance charges (first year)
• ATM transaction charges
• Third party cash deposit and withdrawal charges at branches
• Demand draft/pay order issuance charges at branches
• Duplicate statement issuance charges
• Duplicate passbook issuance charges
• Balance certificate issuance charges
• Interest certificate issuance charges
• Account closure charges
• ECS return charges
• Stop payment of cheque charges
• International ATM/POS transaction charges
• Decline charges for insufficient balance at ATM
• Standing instruction charges
• Photo attestation charges
• Manager’s cheque/demand draft cancellation/revalidation charges
• Signature attestation charges
• Charges for retrieval of old transactional records
• Address confirmation charges
• Charges for any deliverable returned by courier due to negative reasons
• Cheque bounce charges

Also read - What should you keep in mind before opening a Savings Account?

Additional perks of owning IDFC FIRST Bank Savings Account
 

While the charges, or the lack thereof, make the IDFC FIRST Bank Savings Account cost-effective, there are other benefits too of owning the account. Have a look –

• High interest rates
  
  IDFC FIRST Bank Savings Account offers one of the best interest rates in the industry. You can get interest up to 7% per annum in the balance maintained in your savings account.
  
  The higher interest rates give more returns on your account balance for maximum earnings. Moreover, the returns are guaranteed and not subject to market volatility. 
• Compounding monthly interest
  
  One of the unique features of the IDFC FIRST Bank Savings Account is the monthly interest credit. The interest is compounded monthly and credited to your account. The interest gets added to your account balance, allowing you to earn subsequent returns on a higher account balance
  
  Moreover, with monthly interest credits, you also get a source of regular inflows, which can supplement your income and help you meet your expenses.
• Easy mobile banking
  
  Bank at ease with your fingertips with IDFC FIRST Bank Savings Account revolutionary mobile banking facility. Download the app and -
  
  
  • Track your spending
  • Analyse your cash flow
  • Invest in mutual funds in one click
  • Get a search engine for your queries, etc.

Opening an IDFC FIRST Bank Savings Account
 

With free banking services and a range of other perks, IDFC FIRST Bank Savings Account becomes more than a just an ordinary bank account. You can open the account online straightaway, in a super-easy way and following a few simple steps by visiting https://digital.idfcfirstbank.com/apply/savings, filling in your Aadhaar Card number, mobile number, email address, PAN details, some very basic personal and professional details and choosing the account variant you would like.

After opening the account, you proceed to fund it (deposit money) and start enjoying higher interest income! You are also required to do your video KYC to make the process complete.

Also read - Best ways to utilise the money in your Savings Account to make profits

The bottom line
 

Simplify your payments and fund transfers and forego NEFT charges and RTGS charges with IDFC FIRST Bank Savings Account, which is cost-effective and beneficial. Open an account online and manage it with the ease of mobile banking app. Use the monthly interest credits to grow your account balance and create a suitable corpus matching your financial goals.

One account, multiple benefits.

Disclaimer

IDFC FIRST Bank offers Zero Fee Banking on Rs 10,000 Average Monthly Balance (AMB) Savings Account and higher account variants, subject to maintenance of AMB in the account. These services are being offered free in good faith, and in case of abuse, the bank reserves the right to charge fees as per market norms. All rights reserved.

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.