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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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FinFIRST Blogs
Savings Account
How no-fee banking can help save money on everyday transactions
Summary: Make the most of no-fee banking and save money on a variety of bank charges and commissions. Now you can enjoy savings account benefits with zero charges on 28 commonly used banking services! Read on to know more about it.
Of the dozens of banking services we commonly use, some are provided free of charge, while others are not. For example, a specific number of ATM withdrawals or chequebooks may be free but chargeable afterwards. As a customer, you may need help keeping track of the bank charges debited against your savings account. No fee banking makes things simpler.
If you use banking services regularly, no fee banking can help you save money every day. If your savings account is free from the usual bank charges, your banking experience gets simplified, and you also save money.
Also read - Zero-fee banking: The next big thing in savings accounts
Benefits of no fee banking with IDFC FIRST Bank
You can carry out basic banking transactions at zero cost with no fee banking or zero fee banking.
This includes ATM withdrawals, online money transfers, standing instructions, etc. Under the traditional banking system, consumers incur periodic or limit-based fees on transactions. But many of these, like the ones listed below, are completely waived in no fee banking.
· Online transfers – There are no outward IMPS, NEFT, and RTGS charges. All your transfer needs are met with these three types of transfers at zero cost. In traditional banking, there is a minimal charge involved in these transfers.
· Cash deposit and withdrawal – Cash deposit and withdrawal at the branch are free, irrespective of the number or value of such transactions. There are no bank transaction charges on ATM withdrawals. Besides, third-party cash deposit and withdrawal charges in the branch are also free.
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· Banking facilities – In no fee banking, various banking facilities are provided free of cost. This includes the waiver of chequebook reissue charges, issuance of debit cards, demand draft/pay order (DD/PO) at the branch, duplicate statement, duplicate passbook, etc.
· Service requests – Various service requests like SMS alerts, account closure, cheque stop payment requests, standing instruction requests, photo and signature attestation, etc. are among the facilities that the bank offers free of cost.
· Account balance-related charges – In no fee banking, there are no ECS return charges, cheque bounces, charges on transaction decline at ATM due to insufficient balance, etc.
Also read - Simple bank interest calculations explained for the Savings Account customer
Conclusion
You get to save money on as many as 28 different services and transactions by opening an IDFC FIRST Bank Savings Account. Say goodbye to complicated calculations and intense scrutiny of your bank statement with IDFC FIRST Bank’s no fee banking.
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.
