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    Unlimited benefits with a start-to-finish digital process with IDFC First Bank Home Loans

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Senior Citizen Savings Account

Make your golden years even more special with IDFC FIRST Bank Senior Citizen Savings Account. Enjoy our rate of 5%* per annum, along with a host of benefits, just for you.Read More

Our Senior Citizen Savings Account gives you free doorstep banking, preferential rates on fixed, and recurring deposits and priority service at our branches. Our lifetime IHO (Indian Health Organization) membership gives you unlimited tele-consultation, one-time free health check-up of 61 vital tests, and a free pharmacy voucher worth ₹250. You also get access to our top partner hospitals, diagnostic centres, and home care.Read Less

Apply For Senior Citizen Savings Account

Save up to 70% on your health expenses | Free Indian Health Organization (IHO) membership

Interest up to 5%

Monthly Interest Credit on your Savings Accounts

  • Earning interest on interest with IDFC FIRST Bank
  • Monthly interest credits versus the industry norm of quarterly interest credit
  • Free and unlimited ATM transactions at any bank anywhere in India
  • Industry best giveaways!


Monthly Interest Credit on your Savings Accounts
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VISA Signature Debit Card with ₹25K average monthly balance

  • Lifetime IHO Membership
    Unlimited free tele-consultation
  • 10% cashback up to ₹250 on your 1st card payment at merchants transaction
  • Higher daily purchase limit of ₹6 lakh and
    higher daily ATM withdrawal limit of ₹2 lakh
  • Free and unlimited ATM transactions:
    at any bank, anywhere in India
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VISA Classic Debit Card with ₹10K average monthly balance

  • Daily cash withdrawal of ₹1 lakh and higher purchase limit of ₹1.5 lakh
  • Personal accident insurance coverage up to ₹2 lakh
  • Lifetime IHO Membership – Unlimited free tele-consultation
  • 5 Free financial ATM Transactions at IDFC FIRST and 5 Free financial Transactions at Non-IDFC FIRST Bank ATM locations
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Who Can Apply?

  • Indian citizens
  • Residents of India
  • Above 60 years of age


For Digital:

  • Aadhaar Number
  • PAN number/ Form 60

For Physical (you can submit anyone of the following):

  • Aadhaar Card
  • If you have a PAN Card, it is mandatory to provide it while opening your account
  • 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.
  • Passport sized photograph

Senior Citizens Account Eligibility


Find out about our minimal and transparent fees & charges

View Fees & Charges

Senior Citizens Account Fees And Charges


What is the eligibility criterion for opening Senior Citizen Savings Account?

Senior Citizen Savings Account can be opened by any individual over 60 years.

How does the monthly interest credit for savings account work?

For the convenience of our customers, the Bank will credit interest to customers’ savings accounts on a monthly basis. The earlier facility of interest credit on quarterly basis on savings accounts will be discontinued from June 30, 2021. The Bank is among the few in the industry to offer monthly interest credit on savings accounts.

Can a person below the age of 60 years open a joint account with a senior citizen?

Yes, the senior savings account can be opened. However, the primary applicant needs to be 60 years or above

What is the initial pay in amount required for opening your IDFC FIRST Bank Senior Citizen Savings Account?

The minimum amount for opening your IDFC FIRST Bank Senior Citizen Account is ₹25000. More is always welcome!

What is the minimum account balance required to be maintained monthly in the IDFC FIRST Bank Senior Citizen Savings Account?

There is a minimum balance requirement of ₹25000 once you open a Senior Citizen Savings Account. Please click here to see the applicable Schedule of Charges

How is the average monthly balance (AMB) calculated?

Every day, from the 1st to the end of the month, we take the balance in your account at the end of the day. We total them all up, and divide by the number of the days in the month. That's it!

What is the frequency of interest pay-out?

Interest earned on Senior Citizen Savings Account balance shall be credited to your account on a monthly basis.

Will there be an option to transfer excess funds available in Senior Citizen Savings Account to Fixed Deposit and earn a higher rate of interest?

Yes, once the balance in your Senior Citizen Account exceeds ₹75,000, the amount in excess of ₹50,000 can automatically be transferred to a Fixed Deposit for a tenure of 1 year 1 day. The funds are still available to automatically sweep-in, if needed.

How can I learn more about IDFC FIRST Bank Senior Citizen Savings Account Interest Rate

IDFC FIRST Bank's Senior Citizen Savings Account is our testament to putting our customers first. We offer 5% p.a on Senior Savings account.

What's more, you earn this interest on progressive balances in each interest rate slab, as applicable. That means you earn every single day. We pay out this interest every month.

Hurry! Make the most of this unique opportunity. Click here to know more.

Please note that senior citizen saving account interest rate are subject to periodic change.

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