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Savings Account is helpful for first jobbers: Complementing a milestone

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When you land your first job, the first and best thing you could do for your salary is to deposit it in a savings account. Opening one with IDFC FIRST Bank will offer you - quick and easy access to your funds, online banking facility, security, and an opportunity to grow your wealth.

You can even apply for an account with IDFC FIRST Bank online.

Why open a savings account with IDFC FIRST Bank?


Some of the benefits of opening an account with us are:

  • Higher interest rate of up to 5%
  • Paperless digital account opening with Video KYC
  • Higher Daily Purchase limit of ₹6 lakhs and higher daily ATM withdrawal limit of ₹2 lakhs
  • Air accident insurance cover of ₹1 Cr and Personal accident insurance cover of ₹35 Lakhs
  • Free and unlimited ATM withdrawals- anywhere in India
  • BookMyShow cashback of ₹250 per month
  • Airport lounge access twice in a quarter
  • Higher lost card liability of ₹6 lakh
  • Purchase protection of ₹1 lakh

How much money should one have in a savings account?


We would recommend keeping money in your account that can cover at least three to six months’ worth of expenses. These funds should act as a financial cushion for your regular expenses. Feel free to store as much money as you would be comfortable setting aside.

What is the eligibility criteria to open a savings account with IDFC FIRST Bank?


To open a Resident savings account with IDFC FIRST Bank, all that is required is:

  • You should be an Indian citizen
  • You should be residing in India
  • You should be a foreign national residing in India and meeting the criteria laid down by the Government of India

The Average Monthly Balance required is ₹25,000 for Savings account with VISA Signature debit card. Please reach out to us for more information.

How to open an IDFC FIRST Bank savings account digitally?


You can open an IDFC FIRST Savings account which is completely digital. All you need to do is:

  • Go to the application link
  • Enter Name, Mobile number and Email address
  • Enter your Aadhaar number /VID no. and PAN number
  • Fill in your personal & occupational details
  • Fund your account
  • Complete Video KYC (optional)

Opening a new high-interest yielding savings account and making thoughtful investments right from your first salary can help you create a good financial corpus.

We wish you the best on your first step towards being a financially responsible individual.

 

Disclaimer

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.