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.

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

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

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.

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

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. 

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

 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!

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. 

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. 

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. 

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

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. 

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. 

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. 

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.