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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 419 4332 or visit the nearest IDFC FIRST Bank branch for further queries.

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Savings Account

Our Savings Account 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 6%. 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 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

Save Money

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

Interest up to 6%

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 –

* Interest calculated on progressive balances in each interest rate slab, as applicable
** Interest calculated on flat rate basis

  • Pitruprasad Dash
    Pitruprasad Dash

    “Recently I opened a new bank account with IDFC FIRST Bank. Firstly, in terms of the process to open savings account, it is 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
    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 advance which makes the process easy. Also, the IDFC FIRST Bank employees are cordial and helpful, making the overall experience a pleasant one.”

ATM Card VISA Classic Debit Card

VISA Platinum Debit Card with ₹25K average monthly balance

  • Free and unlimited ATM transactions: at any bank, anywhere in India
  • Higher daily purchase limit of ₹6 lakh and higher daily ATM withdrawal limit of ₹2 lakh
  • Complimentary domestic airport lounge access, once every quarter
  • Free Personal Accident Insurance Cover of Rs. 35 lakhs and Air Accident Insurance Cover of Rs. 1 crore
Visa Platinum Debit Card VISA Classic Debit Card

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 ₹1,50,000
  • 5 Free Financial ATM Transactions at IDFC FIRST Bank and 5 Free overall Transactions at Non-IDFC FIRST Bank ATM locations

Experience a Mobile Banking revolution

Track spends, earn rewards, check your risk profile, invest in Mutual Funds in a click, experience Google-like search, cash flow analysis

The on-boarding vouchers/benefits offered in the first 30 days post Savings Account opening have been discontinued w.e.f .1st July'22

Monthly Interest Credit on your Savings Accounts

  • Earn interest on interest with IDFC FIRST Bank
  • Monthly interest credits versus the industry norm of quarterly interest credit

 

online savings interest rates

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

For Physical Bank Account Opening:

  • Passport-size photograph
  • If you have a PAN Card, it is mandatory to provide it while opening your account
  • Any one of the following document:

    - Aadhaar Card

    - 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.

best place to open a savings account

How to open an online Savings Account?

Follow the steps given below to open savings account online with IDFC FIRST Bank:

FEES & CHARGES

Find out about our minimal and transparent fees & charges

View Fees & Charges

Savings account fees and charges

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 6%. 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 and we send monthly email statements to your registered email ID. 

 

How can I learn more about my IDFC FIRST Bank 6% interest savings account?

IDFC FIRST Bank's Savings Account is our testament to putting our customers first. We offer up to 6% 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

what is savings account

FEATURED

What is a Savings Account and why do I need it?

To understand the concept of a savings account, imagine you and your friend have ₹500 each. While your friend kept it with him, you deposited it in a bank that offers an interest rate of 10% annually. Towards the end of the year, your friend managed to not spend any money and save ₹500, whereas you grew it to ₹550 because you decide to deposit it in the bank.

Team FinFIRSTSep 20 • 3 mins read

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