Freedom Current Account

Making the right decisions for your business is imperative for its growth. IDFC FIRST Bank offers one of the best Freedom current accounts for growing businesses in India. Along with zero transaction charges, you get access to IDFC FIRST Bank’s amazing features and benefits like Internet & Mobile Banking Platform, Trade Forex Solutions, GPS-enabled doorstep banking, payment and receivable solutions, and much more.Read More

With transparent current account fees & charges, secure your business growth with your own IDFC FIRST Bank current account.Read Less

Get access to great benefits, like:

Freedom
Current Account

Experience hassle-free banking with zero transaction charges and enjoy exclusive benefits like:

  • Free cash deposit up to ₹30 lakhs per month
  • Free cheque book and DD issuance
  • Free Outward Cheque Return up to 10 instances per month
  • Free funds transfer across NEFT / RTGS / IMPS
  • Free bulk uploads, UPI QR & Virtual Account
  • Free setups & Nil AMC for Payment Gateway & POS
  • Free Signature Debit Card with unlimited ATM transactions
  • Free cheque and document pick-up from any location
  • Minimum average monthly balance 2 lakhs

Freedom World
Business Account

Make the most of your international trade with no transaction processing charges. Our one-of-a-kind Trade Account offers many benefits such as:

  • Nil charges for Trade Service Processing
  • Nil charges for inward & outward remittances
  • Preferred FX conversion rates
  • Preferred pricing for LC/BG issuance
  • Free Cash deposit up to INR 30 Lakh per month
  • Free Cheque book & DD Issuance
  • Free Outward Cheque Return up to 10 instances per month
  • Free bulk upload, UPI QR & Virtual Account
  • Free setups & Nil AMC for Payment Gateway & POS
  • Free Signature Debit card with Unlimited ATM transactions
  • Free cheque and document pick up from any location
  • Minimum average monthly balance 2 lakhs

ELIGIBILITY

Who can apply?

You can apply if you meet any of the following requirement:

  • Resident individual
  • Hindu Undivided Family (H.U.F.)
  • Sole proprietorship
  • Partnership
  • 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 Deeds
  • 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)

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FEES & CHARGES

We follow a transparent system of maintaining minimal fees

View Fees & Charges

Frequently Asked Question

What is the minimum monthly account balance required to be maintained in the IDFC FIRST Bank Freedom Account?

Once you open your account, you must maintain the minimum account balance as mentioned in the table below, in order to retain the features of the Freedom Account

Name of Product

Average Monthly Balance

Freedom Current Account

₹2 lakhs

Freedom World Business Account

₹2 lakhs

 

What is AMB and how is it calculated for IDFC FIRST Bank Freedom Current Account?

AMB or Average Monthly Balance of your Freedom Account is the average of the day-end balance in the account for all the days in a month. An illustration of the same is as below:

 

Transaction

Date

Debit Amount

Credit Amount

Balance at the end of day

1

01-May-15

-

1,00,000

1,00,000

2

10-May-15

20,000

-

80,000

3

20-May-15

20,000

1,00,000

1,60,000

4

31-May-15

-

40,000

2,00,000

AMB

-

-

-

1,18,064

What is the initial pay-in amount required for opening your IDFC FIRST Bank Freedom Current Account?

In order to open the Freedom Current or Freedom World Business Account, the initial pay-in amount is detailed in the table below:

 

Name of Product

Average Monthly Balance

Freedom Current Account

₹2 lakhs

Freedom World Business Account

₹2 lakhs

 

What are the modes through which one can track IDFC FIRST Bank Freedom Account?

You can track your  Freedom Account  through the following modes:

·         View and transact through Internet Banking & Mobile Banking

·         24x7 Banker on Callhat are the modes through which one can track IDFC FIRST Bank Freedom Acco

·         Monthly email statements sent to registered email address

·         Alerts through email and SMS

What are the digital payment solutions available this freedom account?

Below are some of the digital payment and receivable solutions through which you can gain an edge in the competitive market:

·         Free NEFT/RTGS/IMPS

·         Debit Cards

·         Net Banking & E-com Transactions

·         Free bulk upload facility on net banking

·         Payment Gateways

·         Virtual Accounts

·         UPI – QR

·         Point of Sales

·         API integration

·         NACH/e-NACH

What are the trade solutions available for customers?

Below are the trade solutions to facilitate your international business requirements:

·         Letter of Credit

·         Bank Guarantee

·         Import Finance

·         Inward Remittance

·         Outward Remittance

·         Hedging and Currency Protection

·         Foreign Currency Cash

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