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Customer care hotline Call 1800 10 888
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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 10 888 or visit the nearest IDFC FIRST Bank branch for further queries.
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Enjoy Zero Fee Banking on your Savings Account
Get #MoreFromYourBank
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Only bank in India to offer Zero Fee Banking on Savings Accounts*
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Zero charges on IMPS, Debit Card, SMS Alerts & more
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Get higher interest rates of up to 7.25% p.a.
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Higher Purchase Limit of ₹6 Lakhs & ATM withdrawal limit of ₹2 Lakhs
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Only bank in India to offer Zero Fee Banking on Savings Accounts*
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Zero charges on IMPS, Debit Card, SMS Alerts & more
-
Get higher interest rates of up to 7.25% p.a.
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Higher Purchase Limit of ₹6 Lakhs & ATM withdrawal limit of ₹2 Lakhs
Savings Account: Open Savings Accounts Online
A Savings Account is an ideal solution for safely storing your money while earning interest on deposits. IDFC FIRST Bank Savings Accounts elevates this experience by offering Zero Fee Banking on essential services, including IMPS, NEFT, RTGS, ATM withdrawals, and SMS alerts—ensuring your savings grow without unexpected costs. Plus, with higher interest rates of up to 7.25% p.a., credited monthly, your financial goals will be more attainable.
Opening an IDFC FIRST Bank Savings Account is easy and hassle-free. Just click on "Open Account Now" on our website or use the IDFC FIRST Bank mobile app for a quick, online and paperless setup in minutes. Prefer to visit a branch? We welcome you to enjoy the same seamless and personalised experience, with all the exclusive benefits our Savings Account offers.
Each IDFC FIRST Bank Savings Account is thoughtfully crafted to support your financial journey, combining secure digital transactions, rewarding features, and high-interest earnings for greater savings potential. Choose to open a Savings Account today and take control of your finances with security and confidence.Read More
IDFC FIRST Bank is proud to be recognized as a “Class Apart” among commercial banks in India by IIT Bombay and Moneylife Foundation, affirming our commitment to fair service charges and true savings. All our Savings Account options provide outstanding value and transparency, allowing you to grow and manage your money without compromise.
Note: IDFC FIRST Bank ranks in Category A in the report “Benchmarking Reasonableness of Service Charges by Banks in India,” released on May 22, 2024.Read
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₹35 lakhs free personal accident insurance cover | ₹1 Cr free air accident insurance cover
Interest up to 7.25% p.a.
Savings Account Interest Rates
IDFC FIRST Bank offers competitive interest rates on its Savings Account, ranging from 3% per annum to an impressive 7.25% 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.
Savings Account Features
IDFC FIRST Bank offers savings account with several features designed to provide a seamless banking experience. Enjoy Zero Fee Banking on all common savings account services, ensuring that your bank account remains cost-effective and easily accessible.
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.
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.
Enjoy competitive interest rates and earn interest on your savings account balance of up to 7.25% 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.
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 has been recognized as a 'Class Apart' by the pathbreaking study conducted by Moneylife Foundation and IIT Bombay for fairness in services 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
Savings Account Benefits
Achieve High Savings Growth with Competitive Interest Rates
Enjoy Exclusive Discounts and Cashbacks on Your Savings Account
Experience User-Friendly Digital Banking at Your Fingertips
Access 24x7 Customer Support Whenever You Need It
IDFC FIRST Bank Savings Account – A Truly Class Apart Experience
Savings Account Interest Calculator
World Debit Mastercard® 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 ₹35 lakhs and Air Accident Insurance Cover of ₹1 crore
VISA Classic Debit Card with ₹10K Average Monthly Balance
- Daily ATM cash withdrawal limit of ₹1 lakh and higher purchase limit of ₹4 lakhs
- Free and unlimited ATM transactions at any bank, anywhere in India
- Free Personal Accident Insurance Cover of ₹5 lakhs and Air Accident Insurance Cover of ₹30 lakhs
- Lost card liability protection of up to ₹4 lakhs
- Purchase Protection of up to ₹50,000
Hot Deals on Savings Accounts
12% Instant discount on TATA CLiQ
Offer Details:
(Expires on 31st March 2025)
Offer day: Every Monday
12% instant discount upto ₹500 on a minimum purchase of ₹3,000
12% discount on Yatra
Offer Details:
(Expires on 31st March 2025)
Offer day: Every Friday
Domestic Flights: 12% instant discount up to ₹1,200 | Minimum Purchase : ₹5,000
International Flights: 10% instant discount up to ₹6,000 | Minimum Purchase : ₹30,000
Domestic Hotels: 20% instant discount up to ₹4,800 | Minimum Purchase : ₹5,000
Bus: 15% instant discount up to ₹500 | Minimum Purchase : ₹1,000
Flat ₹100 Off on Swiggy Instamart
Offer Details:
(Expires on 31st March 2025)
Offer day: Every Thursday
Flat ₹100 off on a minimum purchase of ₹799
12% Instant discount on TATA CLiQ
Offer Details:
(Expires on 31st March 2025)
Offer day: Every Monday
12% instant discount upto ₹500 on a minimum purchase of ₹3,000
12% discount on Yatra
Offer Details:
(Expires on 31st March 2025)
Offer day: Every Friday
Domestic Flights: 12% instant discount up to ₹1,200 | Minimum Purchase : ₹5,000
International Flights: 10% instant discount up to ₹6,000 | Minimum Purchase : ₹30,000
Domestic Hotels: 20% instant discount up to ₹4,800 | Minimum Purchase : ₹5,000
Bus: 15% instant discount up to ₹500 | Minimum Purchase : ₹1,000
Flat ₹100 Off on Swiggy Instamart
Offer Details:
(Expires on 31st March 2025)
Offer day: Every Thursday
Flat ₹100 off on a minimum purchase of ₹799
Book your travel with us to make the most of your card benefits
Know More
The welcome vouchers/benefits offered upon opening an account have been discontinued w.e.f. 1st July 22
Introducing the most Rewarding Loyalty Program
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.
Savings Account Eligibility & Documentations
Who Can Apply?
The following categories are eligible to open this account:
- Resident Individuals (sole or joint),
- Foreign Nationals residing in India.*
- Hindu Undivided Families (HUF),
- Minors can open joint savings account with their guardians
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 documents:
- Aadhaar Card
- Passport
- Voter’s Identity Card (Election Card)
- Permanent or valid driving licence with a photograph
- Job Card issued by NREGA duly signed a State Government
- Letter issued by the National Population Register containing details of name and address
Savings Account Fees and Charges
The IDFC FIRST Bank Savings Account offers unmatched convenience with Zero Fee Banking on all common 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.
Certain specialised charges may apply, such as fees for non-maintenance of AMB (Average Monthly Balance). These fees 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.
Steps to Open a Savings Account
Follow the below steps to open an IDFC FIRST Bank Savings Account:
Step-1: Click on the link 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
Testimonials
“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. T&Cs are subject to periodic changes. All rights reserved.
*IDFC FIRST Bank features in Category A in the report ‘Benchmarking reasonableness of Service Charges by Banks in India’ by Moneylife Foundation. The recognition and views expressed in the report are independent, and published on 22nd May 2024.
Savings Account FAQs
What is a Savings Account?
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.
How to open a savings account online?
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.
Who is eligible to open Savings Accounts online and offline?
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
What documents do I need to open a Savings Account?
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 at ZERO CHARGES*. Open a Savings Account in 2 minutes here.
*T&C Apply
What do I get on opening an IDFC FIRST Bank Savings Account?
After successfully opening your IDFC FIRST Bank Savings Account, you will get a personalized cheque book and your Debit Card.
How does the Monthly Interest Credits feature work and how will I benefit from it?
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.
What does the Zero Charges feature mean?
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
Are there any charges on non-home branch transactions?
With IDFC FIRST Bank Savings Account, non-home branch transactions are offered at ZERO Charges.
What is the Average Monthly Balance I would be required to maintain in an IDFC FIRST Bank Savings Account?
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.
How is the Average Monthly Balance calculated for Savings Account?
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 |
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Will I be charged any fees/penalty for non-maintenance of Average Monthly Balance in the Savings Account?
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
What are the different ways I can add money/transfer funds to my 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 any IDFC first bank ATM
- Using any UPI app using your UPI ID
What are the modes through which I can access and keep a track on transactions in my IDFC FIRST Bank Savings Account?
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
Can I add a nominee to my Savings Account? How many nominees can I add?
Yes, you can add one nominee to your Savings Account.
How can I add a nominee to my IDFC FIRST Bank 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
Can I open a joint Savings Account at IDFC FIRST Bank?
Yes, you can open an IDFC FIRST Bank Savings Account in joint mode of operation by visiting your nearest branch.
What Debit Card will I get with my IDFC FIRST Bank Savings Account?
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.
How do I close my Savings Account?
Please click here to know more about savings account closure process.
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