FIRST Millennia
FIRST Classic
FIRST Select
FIRST Wealth

Notifications

  • Happy Teachers' Day! Thank you for teaching us the value of Savings

    teachers-day
  • Home Loans, now at 6.90% p.a.

    Unlimited benefits with a start-to-finish digital process with IDFC First Bank Home Loans

    Home Loan
  • Activate your Credit Card within minutes and enjoy unlimited benefits

  • One FASTag, three payments:Toll, fuel and parking

    The only FASTag with triple benefits

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

Savings Account Interest Rates

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

Interest up to 5%

Monthly Interest Credit on your Savings Accounts

  • Earning interest on interest with IDFC FIRST Bank
  • Monthly interest credits versus the industry norm of quarterly interest credit
  • Free and unlimited ATM transactions at any bank anywhere in India
  • Industry best giveaways!

 

Monthly Interest Credit on your Savings Accounts

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*


    *The offer is valid only till 30th September 2021

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

Savings Account Interest Simulator

Choose account balance

1L 2cr

Choose your existing bank interest rate

2.5 % 6 %

Simulation Results(for a period of 1 year):

Interest you earn with IDFC FIRST Bank –

Interest you earn with your Bank –

Additional Interest you earn with us –

  • Pitruprasad Dash

    Recently I open new bank account with IDFC FIRST Bank. Firstly, in term of the process to open savings account, it truly hassle-free. Thanks for being 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

    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 quit advance which make the process easy. Also, the IDFC FIRST Bank 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

Check Personal Loan Eligibility

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 does the monthly interest credit for savings account work?

For the convenience of our customers, the Bank will credit interest to customers’ savings accounts on a monthly basis. The earlier facility of interest credit on quarterly basis on savings accounts will be discontinued from June 30, 2021. The Bank is among the few in the industry to offer monthly interest credit on savings accounts.

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 Fees & Charges | IDFC FIRST Bank

What are the different types of Savings Account?

IDFC FIRST Bank offers different types of Savings Accounts to cater to all your needs and requirements. To know more, read here: Types of Savings Account - Savings Types and its Purpose | 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 monthly 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 progressive balances in each interest rate slab, as applicable. That means you earn every single day. We pay out this interest every month.

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

 COVID 19 Impact on Savings Account Interest Rates

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

Discover Our Banking Products