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Enjoy Zero Charges on All Commonly Used Savings Account Services
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As per amendment in the Income Tax Rules, PAN or Aadhaar are to be mandatorily quoted for cash deposit or withdrawal aggregating to Rupees twenty lakhs or more in a FY. Please update your PAN or Aadhaar. Kindly reach out to the Bank’s contact center on 1800 10 888 or visit the nearest IDFC FIRST Bank branch for further queries.
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Presenting
Agri Multiplier Account
Agri business is seasonal, Agri Multiplier Account mirrors the seasonality
Presenting
Agri Multiplier Account
Agri business is seasonal, Agri Multiplier Account mirrors the seasonality
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High monthly cash deposit limit up-to ₹1 Cr (Free)
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Your customers can deposit and withdraw cash across IDFC Bank with no extra charges
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Seasonal nature of business gets flexibility to maintain balance on Quarterly basis
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Zero Charges on DD issuance, DD cancellation and duplicate issuance.
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High monthly cash deposit limit up-to ₹1 Cr (Free)
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Your customers can deposit and withdraw cash across IDFC Bank with no extra charges
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Seasonal nature of business gets flexibility to maintain balance on Quarterly basis
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Zero Charges on DD issuance, DD cancellation and duplicate issuance.
Agri Multiplier Account
At IDFC FIRST Bank, we have designed Agri Multiplier Account that takes care of seasonality of agri commodity business. Agri multiplier Account is ideal for Arthiyas and Agri Traders segment.
Empower Your Enterprise with the Ultimate Current Account Solution
Free Cash Deposit: You can deposit up to 20 times the average monthly balance (Up to ₹1 Crs)
Flexibility in balance maintenance: To address the seasonal nature of business, get an option to maintain Quarterly Average Balance
Anywhere Banking:Transact across IDFC FIRST Bank branches without any additional cost. Every branch is your home branch.
All-in-one app: A single app with 100+ features that meet both personal and business financial needs
WhatsApp Banking: Access your accounts anywhere, anytime. Just send a 'hi' to 95555 55555 to get started
Beyond Banking Services: We offer 100+ Beyond Banking offerings to suit your enterprise's needs, including ERP, HRMS, Payroll, Taxation, Legal, Cloud Services, CoWorking Spaces, etc.
ELIGIBILITY
Who can apply?
- Self Employed Professionals
- Hindu Undivided Family (H.U.F.)
- Sole proprietorship
- Partnership
- OPC / Private / Limited Company
- Limited Liability Partnership
Documentation
Sole proprietorship
- 2 documents in the name of Entity
- Address proof in the name of entity
- Proprietor Document – (Photo, PAN copy and 1 OVD document copy)
- Nature of Industry proof (In case not indicative in Entity documents, please check for Invoice Copy, Bill of Entry, Freight Invoice, Agreement Copy)
Partnership
- Partnership Deed/s
- Partnership Firm Declaration
- Entity PAN card copy
- Address Proof in the name of the Entity
- OVD copy of the Partners / Authorised Signatories / Beneficial Owners (Including Latest Photograph and PAN card copy)
Schedule of Charges
- Click here to read the Schedule of Charges
Frequently Asked Questions
What is a Current Account?
A Current Account is an account that is used by business enterprises or self-employed professionals to carry out business-related transactions. It allows businesses to carry out a higher number of transactions daily.
What is an Agri Multiplier Account?
Agri Multiplier Account is a type of a Current Account specially designed for Arthiyas and Traders keeping in mind their business requirement.
How do I open an Agri Multiplier Account?
You can open an IDFC FIRST Bank Agri Multiplier Account by visiting your nearest bank branch or click here to apply online.
Who can apply for an Agri Multiplier Account?
Agri Multiplier Account is exclusively for Arthiyas and Agri Traders segment. You can apply if you fall into the below mentioned criteria:
- Hindu Undivided Family (H.U.F.)
- Sole proprietorship
- Partnership
- OPC / Private Limited Company
- Limited Liability Partnership
- Trust/Association/Club/Society
What are the documents required for opening an Agri Multiplier Account?
In addition to KYC documents, APMC/Mandi License is required as a proof of business for opening an Agri Multiplier Account. Click here to view the complete list of documents.
Does a Agri Multiplier Account earn interest?
Yes. With BRAVO feature, you can enjoy interest on Agri Multiplier Current Account. BRAVO feature allows you to set up an Auto Sweep into FD limit, with no penalty on premature FD breakage. Click here to know more about the ‘BRAVO’ feature for Current Account
What is the minimum Average Quarterly Balance (AQB) required to be maintained in the IDFC FIRST Bank Agri Multiplier Account?
To address the seasonality of the Agri business, an Average Quarterly Balance of ₹50,000 needs to be maintained in the Agri Multiplier Account.
What is an Average Quarterly Balance?
The average quarterly balance is calculated by taking the average of end of the day/ daily closing balances in your Current Account, in a financial quarter. E.g. For a 91-day quarter, the ave rage is calculated by adding the closing day balances for all the days in the month and dividing it by 91.
What are the benefits of opening a Agri Multiplier Account?
After opening a Agri Multiplier Account with IDFC FIRST Bank, you can avail of below benefits:
- Free Cash deposit limit upto 20 times the average monthly balance (Up to ₹1 Crs)
- To address the seasonality of the Agri business, an Average Quarterly Balance of ₹ 50,000 needs to be
maintained.
- Zero Charges on NEFT, RTGS, IMPS transactions
- Best-in-class Mobile and Netbanking Platforms
- Anywhere banking without restrictions
What do I get after opening an Agri Multiplier Account?
After opening an Agri Multiplier Account with IDFC FIRST Bank you will receive a Welcome Kit which includes- Welcome Letter, Code of Conduct, Cheque book and Debit Card.
What is the free cash deposit limit in Agri Multiplier Account?
Free cash deposit limit in an Agri Multiplier Account is 20 times of Average Monthly Balance (AMB) up to Rs. 1 Crore.
For Example: If the AMB of ₹2 Lakh is maintained in August, free cash limit will be ₹40 Lakh for the month of August.
What are the fees and charges on IDFC FIRST Bank Agri Multiplier Account?
IDFC FIRST Bank has minimal and transparent fees & charges. Click here to view.
Can I deposit or withdraw cash in any IDFC FIRST Bank branch?
Yes, every Branch is a Home Branch with IDFC FIRST Bank which means you can get banking service like cash deposits or withdrawals at any IDFC FIRST Bank branch in the country. These services are provided without any additional charges.
What are the digital modes through which I can access IDFC FIRST Bank Agri Multiplier Account?
Current Account can be accessed through the following digital modes:
State-of-the-art Mobile Banking App & Net Banking platform
- 24x7 Banker on Call 1800-10-888
- Alerts through Email and SMS
- WhatsApp Banking & Bitly Banking
What all Beyond Banking offer will I get with my Agri Multiplier Account?
IDFC FIRST Bank Beyond Banking offers premium banking services with 100+ partners. You can benefit from 150+ offers across ERP & Accounting, HRMS Solutions, Legal, E-commerce, Logistics and Travel, and more.
Click here to view the Beyond Banking offers.
What are the digital Payment & Collection solutions available for my Agri Multiplier Account?
Below are some of the digital payment and collection solutions available with IDFC FIRST Bank Agri Multiplier Account:
| Payment Solutions | Collection Solutions |
| NEFT/RTGS/IMPS | UPI-QR |
| Debit Cards | POS Machine |
| E-commerce payments using Net Banking | Doorstep Banking services with live tracking facilities |
| Bill Payments | Payment Gateway |
| Bulk transaction facility on Net Banking | Virtual Accounts |
| GST/Direct Tax Payment | Collection API |
| Payment API | NACH/e-NACH |
What are the Trade & Forex solutions available with the Agri Multiplier Account?
Below are the Trade & Forex solutions available to facilitate your international business requirements:
- Letter of Credit
- Bank Guarantee
- Document Collection
- Inward & Outward Remittance
- Hedging and Currency Protection
- FDI/ ODI/ ECB
- Escrow Services
Disclaimer
The applicable Fixed Deposit (FD) rates are notified on the Bank's official website and are subject to change from time to time. The interest rate mentioned herein is applicable as on date for the deposits having 370 days tenure. The depositors shall ascertain the FD rates on the value date of FD. In case of pre-closure of FD, applicable bucket rate as per tenure will apply. The services are being offered free in good faith. In case of abuse of services, the Bank reserve all the rights to charge fees, as applicable. T&C’s apply. All rights reserved.
