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Hyderabad, renowned for its booming tech industry and rich history, offers considerable opportunities for both professional and personal growth. While living in here can be a memorable experience of a lifetime, you also need to make sure that you are in control of your finances to handle all the expenses and living costs. Read More
To save and accumulate funds in Hyderabad, consider opening a savings bank account with IDFC FIRST Bank. The value-added services offered by the bank include zero charges on frequently used banking services, a competitive rate of interest, monthly interest credits, and an intuitive mobile banking app. Such offerings ensure effortless financial management along with steadily growing your savings. Read less
₹35 lakhs free personal accident insurance cover | ₹1 Cr free air accident insurance cover
Interest up to 7.25% p.a.
Zero fee banking
Enjoy the convenience of zero-fee banking* with your savings account. This feature eliminates charges on all commonly used savings account services, including bank transfers such as IMPS, NEFT, and RTGS, SMS alerts, money deposits at the branch irrespective of amount or number of transactions, debit card issuance, demand drafts, and interest certificates. Additionally, ATM transactions are covered, ensuring you can access essential banking services without incurring hidden costs.
Monthly interest credits
Experience the benefit of monthly interest credits on your savings account balance. Interest is calculated daily based on your end-of-day balance and credited to your account monthly, providing a predictable source of additional income to meet your financial requirement in Hyderabad. This allows you to enjoy the rewards of your savings more frequently, enhancing your financial stability.
Competitive interest rates
Benefit from competitive interest rates, with some savings accounts offering up to 7.25% per annum. Such attractive rates ensure your money works hard for you, allowing your savings to grow rapidly. This helps you achieve various financial goals with ease, from short-term expenses to long-term investments.
Free and unlimited ATM withdrawals
Maintain complete liquidity and control over your funds with free and unlimited ATM withdrawals. This feature ensures you can access your savings whenever needed, offering unmatched convenience and flexibility in managing your finances.
High withdrawal and shopping limits
With an IDFC FIRST Bank savings account, you get a Visa debit card that lets you shop or access funds anytime you need. You also get high ATM withdrawal limit of up to Rs. 2 lakhs per day and a daily shopping limit of up to Rs. 6 lakhs on the regular 25K savings account variant. Higher transactional limits ensure you never fall short of accessing your funds while living in Hyderabad.
₹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
To open a savings account online:
To open a savings account at the branch:
- 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.
Depending on your convenience, you can open a savings account online or offline in Hyderabad. The process to open an IDFC FIRST Bank savings account online is quick and convenient, requiring zero paperwork.
Follow these 5 simple steps to open a savings account in Hyderabad instantly:
Step 1: Click here to open your savings account
Step-2: Fill up your information accurately
Step-3: Select your savings account variant
Step-4: Fund your account online
Step-5: Complete your video KYC now to transact freely
To open an account offline in Hyderabad, you can visit the nearest IDFC FIRST Bank branch with all the requisite documents and contact the bank representative. The banking personnel will guide you through the application process and assist you in filling out the application form. Once done, you can attach all the documents and submit them to the representative. You will receive a notification along with the welcome kit once your account is opened.
When choosing the best savings bank account, consider the rate of interest as higher rates can considerably enhance your savings over time. Moreover, assess any fees or charges that could affect your balance, such as transaction costs or monthly maintenance fees. Finally, evaluate the features provided, such as online banking capabilities and the availability of physical branches.
To open an online savings bank account with IDFC FIRST Bank, you can either download the bank’s banking app or visit the official website. Complete the online application form by inputting your personal details, PAN, Aadhaar and any other necessary information. Proceed to finalise your account setup by undergoing the KYC authentication through a video call. Once your information is authenticated, your account will be set up and ready for use.
IDFC FIRST Bank offers a range of digital banking services, involving mobile banking, SMS banking, internet banking, and email alerts. Such options permit you to perform transactions, pay bills, transfer funds, check your account balances, and access distinct banking functionalities with ease from your home, ensuring convenience and easy access.
IDFC FIRST Bank offers zero-fee banking on commonly used savings account services such as IMPS, NEFT, RTGS, SMS alerts and ATM withdrawals.
Typically, there is no maximum limit to the amount you can deposit into a savings account. However, do make sure to comply with KYC norms for higher deposits.
IDFC FIRST Bank allows the appointment of one nominee per savings bank account.
With IDFC FIRST Bank, there is no need to transfer your savings bank account to Hyderabad owing to the bank’s one-bank concept, which eliminates the need for a designated home branch. You can effortlessly manage your bank account by visiting any IDFC FIRST branch in Hyderabad and enjoy the same level of convenience as before. This approach endows exceptional ease of access and management of your funds from any location.
A good amount to save every month ranges between 10% and 20% of your income based on your financial obligations and goals. However, the ideal savings rate can differ depending on individual circumstances, so it is essential to design it as per your particular financial condition.
*Disclaimer: IDFC FIRST Bank offers Zero Fee Banking on all Savings Account services. Monthly Average Balance charges for Savings Account applicable. For more details, visit www.idfcfirstbank.com/zerofeebanking
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Make the most of no-fee banking and save money on a variety of bank charges and commissions. Now you can enjoy savings account benefits with zero charges on all commonly used banking services! Read on to know more about it.
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