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Savings Account

All you need to know under 3 minutes about IDFC FIRST Bank Saving Account

Summary: Here’s everything you need to know about the different types of IDFC FIRST Bank savings accounts, minimum balance requirement, high interest rates, transaction benefits, and more.

04 Jul 2022 by Team FinFIRST

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Yes, IDFC FIRST bank savings account interest rates are unbeatable! However, that is just one of the many benefits that will elevate your banking experience. Here’s what you can expect when you upgrade to an IDFC FIRST Bank saving account.

Types of accounts

IDFC FIRST Bank has something for everyone. In addition to the regular savings account, there are specialised savings accounts for senior citizens and minors, FIRST Power Account for Women, NRI Savings Account, Future FIRST Savings Account for students, Honour FIRST Account for defense personnel, Vishesh and Pratham Savings Account for the underprivileged and underbanked, as well as features specific accounts such as Health FIRST Savings Account with insurance benefits. IDFC FIRST Bank also offers Corporate Salary Account.

Account balance

The minimum balance requirement for an IDFC FIRST Bank savings account differs basis the type of account specified in the list above. For example, the Pratham Savings Account, Honour FIRST Defense Account, and Future FIRST Savings Account do not have a minimum balance requirement. Most other feature-loaded accounts require you to maintain a monthly balance of Rs 25,000.

High Savings Account interest rates

IDFC FIRST Bank’s savings account offers the For instance, IDFC FIRST Bank Digital Savings Account offers interest up to 7.25% p.a. You can get up to 7.25% interest per annum with monthly interest credits as opposed to quarterly credits, as is the industry norm. Thereby allowing your money to earn interest on interest and compound faster.

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Reasons to open a second savings account with IDFC FIRST Bank

Enjoy monthly interest pay-outs on your IDFC FIRST Bank Savings Account

Enjoy monthly interest pay-outs on your IDFC FIRST Bank Savings Account

Accessibility

The IDFC FIRST Bank savings account offers a superior digital banking experience which is accessible via the netbanking platform as well as the mobile app. You can create and link your unique UPI ID for transactions on the go, make investments across asset classes, and conveniently manage them through the investment dashboard.

Transaction benefits

With the World Debit Mastercard® card , you get free and unlimited ATM transactions anywhere in India. You also enjoy a higher withdrawal limit of up to ₹6 lakh per day at points of sale.

The VISA Classic Debit Card also allows free and unlimited ATM transactions at any bank, anywhere in India. Plus, it has a daily ATM withdrawal limit of up to ₹4 lakh at the point of sale.

Other banking benefits

IDFC FIRST Bank savings account allows you to enjoy over 150 complimentary banking services and benefits. These include pre-approved loan offers, lifetime free credit card services, free personal accident and air insurance cover, lost card liability cover, and more.

Lifestyle benefits

Take advantage of over 50 different lifestyle benefits such as offers on shopping, dining, movies, and entertainment at over 300 merchant establishments. Enjoy up to 10x rewards on credit card spends, complimentary access to airport lounges 1 per quarter, and assured gift vouchers on signing up.

Easy account opening process

All it takes is a few minutes to get on board with a completely digital, simple four-step account opening process with IDFC FIRST Bank. Get started here!

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.

The features, benefits and offers mentioned in the article are applicable as on the day of publication of this blog and is subject to change without notice. The contents herein are also subject to other product specific terms and conditions and any third party terms and conditions, as applicable. Please refer our website www.idfcfirstbank.com for latest updates.

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