-
Customer care hotline Call 1800 10 888
Are you ready for an upgrade?
Login to the new experience with best features and services
Notifications
-
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.
-
Activate your Credit Card within minutes and enjoy unlimited benefits
Accounts
Deposits
Loans
- IDFC FIRST Bank Loans
-
Personal Loan
-
Consumer Durable
Loan -
Home Loan
-
Business Loan
-
Professional Loan
-
Education Loan
-
New Car Loan
-
Pre-owned Car Loan
-
Two Wheeler Loan
-
Pre-owned Two
Wheeler Loan -
Commercial Vehicle
Loan -
Gold Loan
-
Loan Against Property
-
Loan Against Securities
-
Easy Buy EMI card
-
Personal Loan
EMI Calculator -
Education Loan
EMI Calculator -
Home Loan
EMI Calculator
Wealth & Insure
Payments
Cards
- IDFC FIRST Bank Cards
-
Ashva :
Metal Credit Card -
Mayura :
Metal Credit Card -
FIRST Millennia
Credit Card -
FIRST Classic
Credit Card -
FIRST Select
Credit Card -
FIRST Wealth
Credit Card -
FIRST WOW!
Credit Card -
Forex Card
-
Deals
-
Debit Cards
-
Co-branded Cards
-
Credit Card
EMI Calculator -
FIRST Corporate
Credit Card -
FIRST Purchase
Credit Card -
FIRST Business
Credit Card
Premium Metal
0% Forex & Travel
Lifetime Free
- Max benefits, Free for life
-
FIRST Classic10X RewardsShoppingNever Expiring Rewards
-
FIRST Millennia10X RewardsShoppingNever Expiring Rewards
-
FIRST Select10X RewardsLifestyle1.99% Forex
-
FIRST Wealth10X RewardsLifestyle1.5% Forex
-
FIRST WOW!RewardsTravelZero Forex
-
LIC ClassicRewardsInsuranceShopping
-
LIC SelectRewardsInsuranceShopping
10X Rewards
- Reward Multipliers
-
AshvaLifestyleMetal₹2,999
-
MayuraLifestyleZero Forex₹5,999
-
FIRST ClassicNever Expiring RewardsShoppingLifetime Free
-
FIRST MillenniaNever Expiring RewardsShoppingLifetime Free
-
FIRST SelectNever Expiring RewardsLifestyleLifetime Free
-
FIRST WealthNever Expiring RewardsLifestyleLifetime Free
UPI Cards
Fuel & Utility
Showstopper
Credit Builder
More
NRI Savings Account
NRI Fixed Deposit
FOREX Solutions
Transfer to NRE
Corporate Account
Cash Management Services
Corporate Lending
Treasury
MSME Accounts
Trade Services
MSME Loan
MSME Solutions
Offers
About Us
Investors
Careers
ESG
Savings Account
Things to check beyond interest rate while opening a Savings Account
Summary: Thanks to digitisation, opening a savings account today is hassle-free and quick. However, along with the interest rate offered you should also consider minimum balance requirement, processing fee, additional services, exclusive offers, discounts and more. Read on to know more.
Opening a savings account is probably your first interaction with a bank. It is the most basic financial product for savings. You can also use it to conduct regular transactions such as receiving a salary or grocery shopping.
We often only pay attention to the interest rate while opening a savings account. Here is a quick guide on how to choose a savings account based on other important factors.
- Minimum Balance Requirement
Every bank has different savings account limits and minimum balance criteria. The bank may charge a high monthly penalty if you fail to maintain this. So, understand your bank's minimum balance requirement before opening a savings account.
For example. IDFC FIRST Bank offers two types of savings accounts with different minimum balance criteria:- Rs 25,000 (for a Visa Platinum debit card)
- Rs 10,000 (for a Visa Classic debit card)
- Processing Fees
While most transactions and services come free of cost, there may be a processing fee (or some other charge) on certain transactions. For example, annual debit card fees, cheque returns, international ATM transactions, etc., attract additional charges. Research well to understand the various fees, so you are never surprised. IDFC FIRST Bank believes in absolute transparency and advises you to view all the charges mentioned on the website before signing up for a service.
- Additional banking products and services
A savings bank account has several other products and services you should review. For example, debit and credit cards and netbanking services are additional benefits you can enjoy as the world goes cashless. Check for these services and related additional fees. IDFC FIRST Bank's savings account comes with add-on products like personal accident insurance of up to Rs 35 lakh with your VISA Platinum debit card.
- Discounts and offers
Discounts and offers are available when you transact using the debit card linked to your savings account. These offers include free airport lounge access, zero surcharges at petrol pumps, cashbacks, reward points, and other benefits. With an IDFC FIRST Bank VISA Platinum debit card for your savings account, you get one complimentary domestic airport lounge access every quarter. So, check for such offers before you zero down on a savings account with any bank. If used mindfully, you can save a lot of money simply by availing of these offers on debit card transactions.
- Great Customer Service
Good customer service is paramount, and every bank should aim to offer it. Check if your bank's online customer services include internet banking, mobile banking, UPI-based transactions with various payment apps, chat support, checking account balances, online transactions, etc. In fact, many 'new-age' banks or online banks have sprung up, offering quick online services to their customers.
To sum it up
IDFC FIRST Bank is one step ahead regarding customer service quality. It has a 24×7 customer service helpline and comes with great features such as monthly interest credit, free and unlimited ATM withdrawals, low processing charges, and an interest rate per annum that is one of the bests in the industry on savings accounts. Reach out today to open a savings account with IDFC FIRST Bank!
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.