Savings Account

Our Savings Account with Signature Card is designed to meet your individual needs. We understand the importance of saving for the future, for you and your loved ones. That’s why, IDFC FIRST Bank Savings Account offers an industry-best interest rates of up to 5%. So, you can save more, do more, and live life to the fullest.Read More

All this is just moments away because you can open a savings account online in minutes with amazing benefits. Some of the many features and benefits include cashback offer on activation, higher POS limits, free and unlimited ATM transactions, and other benefits. Open a savings account online with IDFC FIRST Bank today and start earning more on your savings.Read Less

Zero Balance Account

₹35 lakhs free personal accident insurance cover | ₹1 Cr free air accident insurance cover

Interest up to 5%

VISA Signature Debit Card with ₹25K average monthly balance

  • 10% cashback on your 1st card payment at merchants transaction, up to ₹250
  • Higher daily purchase limit of ₹6 lakh and higher daily ATM withdrawal limit of ₹2 lakh
  • Free and unlimited ATM transactions: at any bank, anywhere in India
  • Get ₹250 cashback every month on BookMyShow.com

VISA Classic Debit Card with ₹10K average monthly balance

  • Daily cash withdrawal of ₹1 lakh and higher purchase limit of ₹1.5 lakh
  • Personal accident insurance coverage up to ₹2 lakh
  • Lost card liability protection up to ₹50,000
  • 5 Free financial ATM Transactions at IDFC FIRST and 5 Free financial Transactions at Non-IDFC FIRST Bank ATM locations

CALCULATOR

Savings Account Interest Calculator

Choose account balance

1L 2cr

Number of years planned for savings

1 Year 50 Year

Choose your existing bank interest rate

2.5 % 6 %

Simulation Results:

What you earn with IDFC FIRST Bank Savings A/c:

What you earn with your current bank:

How much more do you earn with our bank:

Earn more! Because every rupee counts.

  • Pitruprasad Dash
    Pitruprasad Dash

    "Recently I opened a new bank account with IDFC FIRST Bank. Firstly, in terms of the process to open a savings account, it truly is hassle-free. Thanks for being a step ahead in terms of customer satisfaction and banking services, making it easy for new customers like me. I wish IDFC FIRST Bank a great future and looking forward to a long term association. "

  • Sougata Das
    Sougata Das

    "I recently opened a Savings Account with IDFC FIRST Bank, and I must tell you that I’m really happy with the features and benefits offered by the savings account. The netbanking services are quite advanced which makes the process easy. Also, IDFC FIRST Bank’s employees are cordial and helpful, making the overall experience a pleasant one."

ELIGIBILITY

Who Can Apply?

  • Indian citizens
  • Residents of India
  • Foreign nationals residing in India and meeting GOI criteria

Documentation

For Digital Bank Account Opening:

  • Aadhaar Number
  • PAN number/ Form 60

For Physical Bank Account Opening(you can submit anyone of the following):

  • Passport-size photograph
  • Aadhaar Card
  • If you have a PAN Card, it is mandatory to provide it while opening your account
  • Passport
  • Voter’s Identity Card (Election Card)
  • Permanent and valid driving license with photograph
  • Job Card issued by NREGA duly signed by an officer of the State Government
  • Letter issued by the National Population Register containing details of name and address.

Savings Account Eligibility

FEES & CHARGES

Find out about our minimal and transparent fees & charges

View Fees & Charges

eligibility image alt

FREQUENTLY ASKED QUESTIONS

What is a Savings Account?

A Savings Account is a basic bank account at a retail bank, like IDFC FIRST Bank. A Savings Account is opened on certain terms and conditions. Its features include ATM Debit Card facilities, transfers and withdrawals, among many others. 

How can one open a Savings Account online?

You can open a savings account online in minutes by clicking on the ‘Open Account Now’ button on the IDFC FIRST Bank official website. You can check latest updates regarding eligibility and fees here: Savings Account - Open High Interest Rate Savings Account Online | IDFC FIRST Bank

What are the different types of Savings Account?

IDFC FIRST Bank offers 11 different types of Savings Accounts to cater to all your needs and requirements. They are called Savings Accounts, Corporate Salary Accounts, Senior Citizens Savings Account, FIRST Power, Minor’s Savings Account, NRI Savings Account, Health FIRST Savings Account, Future FIRST Savings Accounts, Honour FIRST Defence Account, Pratham Savings Account and Vishesh Savings Account. To know all about the different types of Savings Accounts read more here: Bank Accounts - Different Types of Bank Accounts | IDFC FIRST Bank

How can one choose the best savings bank account?

Choose and compare Savings Accounts offered by retail banks on the basis of the best interest rates, terms and conditions and services offered. The IDFC FIRST Bank Savings Account offers industry-best interest rates of up to 5%. So, you can save more, do more, and live life to the fullest.

What is the frequency of interest pay-out?

Interest earned on your balance is credited to your account on a quarterly basis. 

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

A minimum amount of ₹25,000 or ₹10,000  is required to open a savings account online with IDFC FIRST Bank. You can choose to open a savings account with higher amount to get better interest earned.

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

The average monthly balance required is ₹25,000 or ₹10,000  . Please click here to see the applicable Schedule of Charges. 

How is the average monthly balance calculated of my savings account?

Every day, from the 1st to the end of the month, we take the balance in your savings account at the end of the day. We total them all up and divide by the number of days in the month. That’s it!

What are the charges levied for non-maintenance of average monthly balance of savings account?

 Click here to know more about the applicable non-maintenance charges on your Savings Account.

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

Being one of the leading banks for savings accounts in India, we offer multiple methods to track your IDFC FIRST Bank Savings Account. Here are a few ways:

Mobile Banking ,Mobile App, Internet banking, WhatsApp, Watch banking and we send monthly email statements to your registered email ID. 

 

How can I learn more about my IDFC FIRST Bank 5% interest savings account?

IDFC FIRST Bank's Savings Account is our testament to putting our customers first. We offer 5% p.a interest rates on savings account.

What's more! You earn this interest on your entire balance, starting from the first rupee. That means you earn every single day. We pay out this interest every quarter.

Hurry! Make the most of this unique opportunity. Click here to know more.

Please note that savings account interest rates are subject to periodic change.

More FAQs

Savings Account Blogs

FEATURED

How has the COVID-19 pandemic impacted savings account interest rates?

COVID-19 has affected almost every sector, and finance has been no exception. Even the basic products and services are undergoing modifications and are being attributed to new rules. These include savings accounts and their interest rates.

IDFC FIRST BankMay 07 • 3 mins read

Read Full Story

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