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Open Digital Savings Account Online

Make the most of your savings with IDFC FIRST Bank digital savings account, with fast, convenient and reliable services at your fingertips. Open a digital savings bank account with IDFC FIRST Bank within minutes, from the comfort of your home.Read More

The onboarding process is quick, secure, and completely paperless, giving you the freedom to open a savings account from anywhere, anytime. What’s more? Enjoy one of the highest interest rates on your savings account and exclusive benefits and offers on your debit card when you shop online. Read Less

Top features of digital savings account

Note: All features are available subject to the maintenance of the AMB in your savings account.

Features of IDFC FIRST Bank Digital Savings Account

IDFC FIRST Bank’s digital savings account ensures convenient banking anywhere, anytime. Listed below:

Benefits of IDFC FIRST Bank Digital Savings Account

Pay bills conveniently

Pay bills conveniently

Log into your mobile banking app and pay your bills like credit card, electricity, and telephone bills instantly.

Debit card for quick access to funds

Debit card for quick access to funds

Use your debit card for online shopping and avail various discounts and offers, available exclusively to IDFC FIRST Bank customers to unlock a plethora of benefits and rewards.

Secure and reliable banking

Secure and reliable banking

IDFC FIRST Bank keeps your account secure by implementing initiatives such as two-step authentication, chip and pin security for debit cards, and OTP verification.

Easy investment

Easy investment

Invest in fixed deposits, mutual funds, and other savings schemes to grow your wealth using your IDFC FIRST Bank savings account.

Accident insurance

Accident insurance

Get free personal accident insurance cover of Rs. 35 lakhs and air accident insurance cover of Rs. 1 crore with IDFC FIRST Bank’s 25K AMB savings account variant.

How to apply for a Digital Savings Account?

Open an IDFC FIRST Bank digital savings account in 5 easy steps: 

FEES & CHARGES

Find out about our minimal and transparent fees & charges

View Fees & Charges

Bank Account Charges

ELIGIBILITY

Who can apply?
Documentation

For digital bank account opening:

  • Aadhaar Number
  • PAN number

Savings Account Eligibility

FREQUENTLY ASKED QUESTIONS

What is a digital savings account?

A digital savings account is a special type of savings bank account that offers all banking services digitally. You can access your funds online, pay at merchants and shops, track expenses and transactions, and pay utility bills online without visiting the branch in person.

How to open an IDFC FIRST Bank Digital Savings Account?

Know the steps how to Open Savings Account:

·       Go to the digital savings account application link

·       Enter your mobile number and email address

·       Enter your Aadhaar or VID (Virtual ID) number and PAN (Permanent Account Number)

·       Provide your professional details

·       Select your preferred type of savings account and accept the terms and conditions by clicking on the check box

·       Click on the ‘Proceed to open account’ button

·       Complete the video KYC (Know Your Customer) procedure

·       Deposit funds in your bank account and enjoy the digital banking services

 

What are the benefits of IDFC FIRST Bank Digital Savings Account?

Key benefits of IDFC FIRST Bank Digital Savings Accounts are:

·       Access to funds round the clock

·       Higher interest rates

·       Utility bill payment

·       Debit card facility

·       Quick fund transfers

·       Comprehensive banking services at the fingertips

What is Video KYC? Is it secure?

Video KYC is a virtual process wherein an IDFC FIRST Bank personnel verifies your details over a video call. The KYC process is quick, reliable, and simple. Since the Video KYC process is carried out by an authorised IDFC FIRST Bank professional over a secured channel, your information is completely secure.

What is the difference between a digital account and a normal account?

With a digital savings account, you get comprehensive banking services online, and you don’t need to visit the bank to open an account.

What is a virtual debit card?

As the name suggests, a virtual debit card is not a physical card, and you can access it only digitally. You can use the card number, CVV and pin to make online transactions and purchases. 

How do I convert my savings account into a digital savings account?

Every IDFC FIRST bank savings account can be accessed by the account holder through the official website or mobile banking app.

Can I open bank account with Aadhaar card?

 Yes, you can open a bank account with your Aadhaar card and PAN card. Thanks to the digital application process provided by IDFC FIRST Bank, all you need to do is simply enter your Aadhaar card number and the bank will take care of the rest!

Can I obtain loans with a digital savings account?

A digital savings account from IDFC FIRST Bank offers access to a host of benefits and services and lets you apply for loans online. You can apply for various loans using the net banking or IDFC FIRST Bank mobile app anywhere anytime and receive funds in your bank account. 

How can I transfer money from my digital savings account to another account holder?

You can use online fund transfer facilities such as NEFT, RTGS, IMPS, and UPI to send money to any account holder within IDFC FIRST Bank or another bank. However, for services other than UPI, you need to have the recipient’s account details such as account number, account name, and IFSC code. 

What is the rate of interest I can earn on my savings account?

IDFC FIRST Bank offers one of the highest savings account interest rates in the sector and with a digital savings account, you can earn an interest rate up to 7.25% per annum. The accrued interest in your savings account is paid at the end of every month, leading to enhanced savings. 

How much money can I deposit in my digital account?

The total cumulative credit (including cash deposits) in your account is restricted to Rs. 1 lakh until all the KYC requirements are met. You can visit your nearest branch or complete the video KYC process (24 hours, 365 days a year) to fulfil the KYC requirements and have unrestricted access to your account. Do note that these restrictions are placed by all scheduled banks as per the guidelines of the Reserve Bank of India. In addition, you must ensure that the average monthly balance (AMB) is maintained depending on the type of digital savings account you hold.

*IDFC FIRST Bank offers Zero Fee Banking on all its savings account variants, subject to maintenance of AMB in the account.
These services are being offered free in good faith, and in case of abuse, the bank reserves the right to charge fees as per market norms. All rights reserved

Can I obtain loans with a digital savings account?

A digital savings account from IDFC FIRST Bank offers access to a host of benefits and services and lets you apply for loans online. You can apply for various loans using the net banking or IDFC FIRST Bank mobile app anywhere anytime and receive funds in your bank account. 

How can I transfer money from my digital savings account to another account holder?

You can use online fund transfer facilities such as NEFT, RTGS, IMPS, and UPI to send money to any account holder within IDFC FIRST Bank or another bank. However, for services other than UPI, you need to have the recipient’s account details such as account number, account name, and IFSC code. 

What is the rate of interest I can earn on my savings account?

IDFC FIRST Bank offers one of the highest savings account interest rates in the sector and with a digital savings account, you can earn an interest rate up to 7.25% per annum. The accrued interest in your savings account is paid at the end of every month, leading to enhanced savings. 

How much money can I deposit in my digital account?

The total cumulative credit (including cash deposits) in your account is restricted to Rs. 1 lakh until all the KYC requirements are met. You can visit your nearest branch or complete the video KYC process (24 hours, 365 days a year) to fulfil the KYC requirements and have unrestricted access to your account. Do note that these restrictions are placed by all scheduled banks as per the guidelines of the Reserve Bank of India. In addition, you must ensure that the average monthly balance (AMB) is maintained depending on the type of digital savings account you hold. 

More FAQs


*IDFC FIRST Bank offers Zero Fee Banking on all its savings account variants, subject to maintenance of AMB in the account.
These services are being offered free in good faith, and in case of abuse, the bank reserves the right to charge fees as per market norms. All rights reserved