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A savings account is a secure deposit account that you can use to store your money safely while actively earning competitive interest on the balance. This account provides instant access to your funds, making it convenient to deal with daily transactions.
With IDFC FIRST Bank’s savings bank account, you enjoy the perfect blend of safety, convenience, and growth. Designed to suit your lifestyle, our savings accounts offer competitive interest rates of up to 7.00% p.a., with monthly interest payouts, helping you reach your goals faster with consistent compounding growth on your funds.
What truly sets IDFC FIRST Bank apart is our zero-fee banking on all savings account services. By opening a savings account with us, you can enjoy unlimited access to services like IMPS, NEFT, RTGS, and ATM withdrawals across all banks in India—without worrying about hidden charges or unexpected costs.Read
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Whether you are planning for short-term needs or building wealth for the future, now is the right time to open a savings bank account with IDFC FIRST Bank. Our advanced mobile banking app lets you manage funds, monitor expenses, invest, and even access rewards—all from one convenient platform.
Recognised as a “Class Apart” among commercial banks in India by IIT Bombay and Moneylife Foundation, IDFC FIRST Bank stands committed to fair service practices and customer-first innovation. When you open a bank account online with us, you're choosing unmatched transparency, powerful tools, and real value.
Take the smarter step forward—open a savings account online with IDFC FIRST Bank and experience a better way to save, better way to save, transact, and grow your wealth with confidence.
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₹35 lakhs free personal accident insurance cover | ₹1 Cr free air accident insurance cover
Interest up to 7.00% p.a.
IDFC FIRST Bank offers competitive interest rates on its savings account, ranging from 3% per annum to an impressive 7.00% per annum, based on the account balance. Interest is calculated daily on the closing balance and is credited monthly for maximum returns.
This method of compounding significantly enhances your returns, making it easier to achieve your financial goals.
Zero-fee banking
Enjoy Zero Charges on All Savings Account Services. These zero-fee services include bank transfers like IMPS, NEFT, and RTGS, SMS Alerts, issuance of a debit card, demand draft, and interest certificate; ATM transactions, and more. Access all essential services with ease without hidden costs.
Monthly interest credits
Experience the peace of mind that a predictable source of additional income provides with monthly interest credits on your savings account balance. The interest is calculated daily, based on your end-of-day balance, and is credited to your account monthly. Enjoy the rewards of your savings more often.
Competitive interest rates
Enjoy competitive interest rates and earn interest on your savings account balance of up to 7.00% per annum. Such a high interest rate ensures that your money works hard for you. Watch your savings grow rapidly and meet various financial goals with ease.
Free and unlimited ATM withdrawals
Transact with ease and access your funds anytime with free and unlimited ATM withdrawals. This ensures that you can maintain complete liquidity and control over your savings account balance.
IDFC FIRST Bank – A Class Apart
IDFC FIRST Bank has been recognized as a 'Class Apart' by the pathbreaking study conducted by Moneylife Foundation and IIT Bombay for fairness in service charges on our Savings Account. This pioneering study titled 'Benchmarking Reasonableness of Service Charges by Banks in India' has earned IDFC FIRST Bank an 'A category' ranking for our unmatched ZERO FEE Banking promise
All the features of an IDFC FIRST Bank Savings Account make it easy to meet your savings goals. With a high interest rate up to 7.00% p.a., monthly interest credits, and zero charges on all Savings Account services, you save in every way when banking with us. What’s more, the revolutionary mobile banking app helps analyse and plan your finances with tools like expense tracking, cashflow analysis, and more.
Enjoy several discounts and cashback offers on your savings account debit card. From instant discounts and deals on various restaurants and brands, save big each time you spend. IDFC FIRST Bank also has one of the most rewarding loyalty program in place for you. As a FIRST Rewards member, earn points on everyday purchases and redeem them with ease on our portal through various exciting options.
Not only can you open a bank account online with IDFC FIRST Bank, but also bank with ease 24x7 using our intuitive Internet banking platform and mobile banking app. Seamlessly manage your savings account, initiate bank transfers, check balances, and more with our cutting-edge digital solutions. You can track spends, earn rewards, and invest in mutual funds all in just a few clicks. So, with both savings and investing, your savings bank account has got you covered. You can also make use of the cash flow analysis feature that can help you budget and plan financially in a more effective manner.
Enjoy 24x7 customer support for all your savings account banking needs and have your queries addressed with efficiency and care. Whether you want to get your queries solved on a phone call or on WhatsApp, receive quick assistance and have a smooth banking experience.
IDFC FIRST Bank has been recognized as a 'Class Apart' by a pathbreaking study conducted by Moneylife Foundation and IIT Bombay for fairness in our Savings Account service charges. This pioneering study titled 'Benchmarking Reasonableness of Service Charges by Banks in India' ranked IDFC FIRST Bank in the 'A category' for its unmatched zero-fee banking promise.
₹10K ₹100Cr
1.5% 4 %
Interest you earn with IDFC FIRST Bank *
*Interest calculated considering monthly interest credit with the power of monthly compounding and on progressive balances in each interest rate slab, as applicable.Interest you earn with your Bank **
**Interest calculated considering quarterly interest credit (Most universal banks credit savings interest quarterly).Additional interest you earn with us
The welcome vouchers/benefits offered upon opening an account have been discontinued w.e.f. 1st July 22
Exclusive rewards, free delivery, and special deals—Only for IDFC FIRST Cardholders
As a FIRST Rewards member, you earn points on everyday purchases made with your IDFC FIRST Bank Debit Card. Redeem them for maximum value from a range of options and partners.
IDFC FIRST Bank Savings Account offers unmatched convenience with Zero Fee Banking on all savings account services, including fund transfers, ATM withdrawals, Debit Card, DD issuance, chequebook reissuance and more. This feature is available on both ₹25,000 AMB and ₹10,000 (AMB) account variants.
Only Average Monthly Balance non-maintenance charges are applicable. These charges are transparently communicated, ensuring there are no hidden costs.
With a focus on customer satisfaction, IDFC FIRST Bank ensures that your Bank Account remains accessible, affordable, and tailored to your financial needs.
Testimonials
"I love the way the onboarding process of IDFC FIRST Bank Savings Account is set up and executed. Being a product manager myself, I appreciate the smooth and clean user experience that the bank offers."
Mahalaxmi
"Was hesitant initially on the video KYC process, but once the account was opened, with WhatsApp updates as well as the debit card and Welcome kit shared at record time, I was happy with the service. Thanks for this great experience. I never expected that an online process would be so easy and smooth. Thanks for the same."
Sherly Sabu
"I'm very happy to be a part of the IDFC FIRST Bank family. Thank you for providing the best service. "
Mohammed Aleem
"I actually cannot think of anything about IDFC FIRST Bank's Savings Account opening process that would have satisfied me better. Please keep doing what you’re doing. All the best."
K P Balaji
“Recently I opened a savings 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.”
Pitruprasad Dash
“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 bank. 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.”
Sougata Das
Disclaimer: With IDFC FIRST Bank Savings Accounts, enjoy Zero Charges on all Savings Account services. These services are being offered free in good faith, and in case of misuse of services, the Bank reserves the right to levy charges. Forex mark-up fee will be applicable on International ATM/POS/Debit card transactions. Average Monthly Balance non-maintenance charges applicable for Savings Account. T&Cs are subject to periodic changes. All rights reserved.
When you plan to open a savings account, keeping the following tips in mind can help you make an informed decision:
1. Interest rate: Choose a bank that offers a high interest rate to grow your savings faster. IDFC FIRST Bank offers up to 7.00% p.a. interest, credited monthly.
2. Charges and fees: Review the bank’s fee structure. Opt for accounts like IDFC FIRST Bank’s savings bank account, which offers zero-fee banking on all common banking services.
3. Digital convenience: Ensure the bank provides a simple process to open a bank account online, along with features like video KYC and mobile app support.
4. Minimum balance requirement: Look for accounts with flexible minimum balance requirements that suits your financial plans. IDFC FIRST Bank offers two account variants i.e. 25K AMB (Average Minimum Balance) and 10K AMB savings account that you can choose based on your needs. 5. Value-added benefits: Consider added perks such as debit card offers, insurance, and integrated investment options for a complete banking experience.
A Savings Account is a product offered by banks to help save money, and earn interest on it. IDFC FIRST Bank offers 24x7 access to your Savings Account so you can access your funds anytime and make withdrawals whenever you need funds.
You can seamlessly open an IDFC FIRST Bank Savings Account both online and offline. To open a savings account online in less than two minutes, click here. If you want to open a savings account offline, simply walk in to your nearest IDFC FIRST Bank branch.
Did you know? IDFC FIRST Bank offers Monthly Interest Credits on Savings Account, as against quarterly interest payouts offered by most banks. Open a Savings Account in less than 2 minutes here.
To be eligible for IDFC FIRST Bank Savings Account, you should be above 18 years of age and belong to one of the below categories:
- Indian citizens
- Residents of India
- Foreign nationals residing in India and meeting the Government of India criteria
To open an IDFC FIRST Bank Savings Account, you need the following documents:
- To open savings accounts online: Aadhaar & PAN details
- To open savings accounts at a bank branch:
*Passport-sized photo
*PAN/Form 60
* Proof of Identity & Address like Aadhaar Card, Passport, Valid Driving License, Voter ID, etc.
IDFC FIRST Bank offers ZERO charges on all Saving Account services like IMPS, NEFT, RTGS, ATM transactions, Cheque book issuance, SMS alerts and more. Open a Savings Account in 2 minutes here.
After successfully opening your IDFC FIRST Bank Savings Account, you will get a personalized cheque book and your Debit Card.
With an IDFC FIRST Bank Savings Account, experience the joy of earning Monthly Interest Credits on your Savings Account. You earn 'interest on interest' with the power of monthly compounding. IDFC FIRST Bank is one of the only universal banks to offer this feature, against the standard practice of crediting interest on your Savings Account every quarter.
Monthly compounding interest payout is better for you than Quarterly interest payout because when you get interest credit in Month 1, the interest for Month 2 is paid on your opening balance + interest received in Month 1 and so on. So, you earn more on your savings!
Can you afford to not have an IDFC FIRST Bank Savings Account? Open a Savings Account in just a few simple steps here.
With IDFC FIRST Bank Savings Account you pay ZERO charges on all Savings Account services like IMPS, NEFT, RTGS, ATM transactions, Cash transactions, Cheque book issuance, SMS alerts and more.
You can know more about services offered at Zero Charges here: https://www.idfcfirstbank.com/personal-banking/accounts/savings-account/fees-and-charges.
Open an IDFC FIRST Bank Savings Account here.
*T&C Apply
The Average Monthly Balance (AMB) you need to maintain in your IDFC FIRST Bank Savings Account would depend on the account variant you have opted for.
Average Monthly Balance in an account is calculated by dividing the sum of each day’s balance in the Account and the number of days in the particular month.
| Account Statement Sample | |||||
| Transaction Date and Time | Date | Transaction Details | Debit | Credit | Balance (Rs.) |
| Opening Balance | 200,000.00 | ||||
| 11-06-2023 11:01 | 6/11/2023 | EMI Debit 957067 | 50,000.00 | 150,000.00 | |
| 21-06-2023 13:30 | 6/21/2023 | UPI/MOB/2359575837/UPI | 50,000.00 | 2,00,000.00 | |
| Descritpion | End of day account balance (Rs.) | Sum of balance (Rs.) |
| EOD Balance from 1st June'23 to 10th June'22 | 200000 | 200000 x 10 = 20 lakhs |
| EOD Balance from 11th June'23 to 20th June'22 | 150000 | 150000 x 10 = 15 lakhs |
| EOD Balance from 21st June'23 to 30th June'22 | 200000 | 200000 x 10 = 20 lakhs |
| Sum of end of day balance of all days of the month | 20 lakhs + 15 lakhs + 20 lakhs = 55 lakhs | |
| Average Monthly Balance = (Sum of end of day balance of all days of the month) / (no. of days of the month) = 55 lakhs / 30 days = Rs. 1,83,333.33 |
||
Yes, there are nominal charges levied for not maintaining Average Monthly Balance on your Savings Account. Click here to know more about the applicable non-maintenance charges on your Savings Account
You can add funds to your Savings Account by one of the following ways:
- Via any other bank’s NetBanking/Mobile app. Simply add your IDFC FIRST Bank account details – Account number and IFSC code
- Through our Mobile app by clicking on the “Add funds” option which lets you transfer money from your other bank accounts
- Depositing a cheque/cash at any of our branches
- Depositing a cheque (in drop box)/cash at select IDFC first bank ATM
- Using any UPI app using your UPI ID
We offer multiple methods to track your IDFC FIRST Bank Savings Account. Here are a few ways you can do it:
- NetBanking
- Mobile App
- WhatsApp Banking
- Monthly Account statements sent to your registered email ID
Yes, you can add one nominee to your Savings Account.
You can add a nominee to your Savings Account in one of the following ways:
- At the time of opening your Account
- Via NetBanking and our Mobile App
- By visiting your nearest IDFC FIRST Bank branch
Yes, you can open an IDFC FIRST Bank Savings Account in joint mode of operation by visiting your nearest branch.
The Debit Card you get on opening an IDFC FIRST Bank Savings Account depends on the account variant you've opted for. You can view the benefits offered with each card variant here.
A savings account is designed primarily for individuals to save money and earn interest on their deposits. It offers features like interest earnings, limited transactions, and is suitable for personal savings. In contrast, a current account is tailored for businesses or individuals who require frequent transactions. It typically does not offer interest and provides features like overdraft facilities and unlimited transactions to support daily business operations.
To open a standard savings account with IDFC FIRST Bank, the applicant must be at least 18 years old. However, the bank also offers minor savings accounts for individuals below 18, which can be operated by a guardian or, in certain cases, self-operated by the minor.
Yes, minors can open a savings account with IDFC FIRST Bank. The bank offers two types of minor savings accounts:
Yes, IDFC FIRST Bank allows customers to set up automatic payments or standing instructions from their savings accounts. This feature enables you to schedule regular payments, such as utility bills or loan EMIs, ensuring timely transactions without manual intervention.
Opening a savings account online with IDFC FIRST Bank offers several benefits:
IDFC FIRST Bank offers zero-fee banking on all variants of its savings accounts. This means there are no charges for services such as IMPS, NEFT, RTGS, SMS alerts, debit card issuance, demand drafts, interest certificates, and ATM transactions. This approach ensures transparency and helps customers save on banking fees.
To maximise the benefits of your IDFC FIRST Bank savings account:
To update personal information in your IDFC FIRST Bank savings account:
It's advisable to keep your contact information up to date to receive timely notifications and updates from the bank.
IDFC FIRST Bank offers multiple channels for customer support:
Ensure your account details and identification are handy for verification purposes when seeking support.
FEATURED
A high-interest savings account helps you beat inflation and grow your money faster, making it a smarter choice for financial planning. Compare rates, fees, and features to choose the highest-interest savings account and maximise your savings potential. The IDFC FIRST Bank Corporate Salary Account stands out with its high-interest savings account benefits, zero balance requirements, and exclusive perks.
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