Women's Savings Account

With the IDFC FIRST Bank FIRST Power Savings Account, you enjoy: 

• Up to 7.25% interest p.a.

•  Monthly interest credits

•  Zero charges on most savings account services

•  Complimentary personal accident insurance

•  Air accident cover

•  Free online doctor consultations

•  Discounted medicines and free annual health check-up

•  Daily ATM withdrawal limit and POS limit

•  Exclusive lifestyle offers

You can open the account online via the IDFC FIRST Bank website or mobile app, or by visiting the nearest branch. The process involves filling out an application form, completing KYC, and funding the account with the required opening amount.

To be eligible:

•  You must be a woman aged 18 years or above

•  You must be a resident Indian or eligible foreign national meeting GOI criteria

•  You must possess valid KYC documents.

Even if you're not employed, you can open the account by submitting:

• A valid government-issued photo ID (Aadhaar, PAN, Passport, etc.)

• Proof of address

• Passport-sized photographs

Employment proof is not mandatory for opening a Savings Account. Open a Savings Account within 2 minutes by clicking here.

The initial pay-in amount required for opening a FIRST Power Savings Account depends on the Average Monthly Balance (AMB) account variant you opt for: ₹10,000 or ₹25,000. You can choose between the two variants based on your financial preferences and cash flow. However, if you choose to open an account with higher initial funding, you’d be able to earn higher interest on your savings. 

An Average Monthly Balance (AMB) of ₹10,000 or ₹25,000 must be maintained, depending on the account variant you choose. It’s crucial to maintain the required AMB to continue enjoying zero-fee banking and other benefits and to avoid non-maintenance charges.

The Average Monthly Balance (AMB) is calculated by summing up the closing balance of your account at the end of each day in a month and dividing it by the number of days in that month.

The account offers zero charges on most commonly used services such as ATM withdrawals, fund transfers, and cheque issuance, provided the Average Monthly Balance (AMB) is maintained. Charges may apply for non-maintenance of balance or premium services.

Yes, IDFC FIRST Bank charges a fee if the required Average Monthly Balance (AMB) is not maintained. As of January 1, 2025, the non-maintenance charge is calculated as 6% of the shortfall between the required and actual Average Monthly Balance (AMB) or ₹500, whichever is lower.

IDFC FIRST Bank credits interest to your Savings Account monthly, rather than quarterly, as is common with many banks. This means you receive interest earnings more frequently, enhancing your ability to compound savings and manage cash flow effectively.

You can fund your account through various methods: 

•  Online transfers like NEFT, RTGS, IMPS

•  Linking your account to UPI apps for seamless transactions

•  Cash deposits at any IDFC FIRST Bank branch

•  Cheque deposits at branches or through cheque drop boxes 

These services are typically free of charge for account holders.

Yes, nomination facility is available. You can nominate a trusted individual, such as a family member, to receive the account proceeds in the event of your demise. If the nominee is a minor, an adult guardian must be appointed.

You can add a nominee during account opening or later by submitting a nomination form through:

•  Online banking: Log in to your account and navigate to the nomination section.

•  Mobile app: Use the IDFC FIRST Bank app to add or update nominee details.

•  Branch visit: Fill out the nomination form at your nearest branch.

You can operate your account via: 

•  Mobile banking app

•  Internet banking

•  ATM services

•  Branch banking

•  UPI and mobile wallets

These modes offer comprehensive banking services for your convenience.

Yes, employment status is not a criterion for opening a savings bank account. You simply need to provide valid KYC documents like Aadhaar, PAN, and proof of address. The other requirement of opening a savings account is depositing and maintaining the required Average Monthly Balance (AMB) if you are opting for AMB Account.

Yes, the FIRST Power Savings Account offers a range of exclusive discounts on brands like Nykaa, BookMyShow, Zomato, Flipkart, MediBuddy, and Kalyan Jewellers, along with up to 50% discount on locker rentals.

All IDFC FIRST Bank Savings Account variants, including the Women’s Savings Account, offer attractive interest rates up to 7.25% p.a. You also enjoy monthly interest credits, instead of quarterly credits, allowing you to maximise your savings. 

Yes, with the IDFC FIRST Bank FIRST Power Savings Account, you receive a complimentary debit card. Depending on which Average Monthly Balance (AMB) account variant you opt for, you get:

•  VISA Platinum Debit Card: For AMB of ₹25,000
•  VISA Classic Debit Card: For AMB of ₹10,000 

Each card comes with its own set of benefits and exciting offers across e-commerce, dining, and entertainment. 

Yes, you can easily link your FIRST Power Savings Account to UPI platforms, such as Google Pay, PhonePe, Paytm, and BHIM and mobile wallets. This allows you to make seamless digital payments, transfer funds instantly, pay bills, and even scan and pay via QR codes, anytime, anywhere. Linking is quick and secure, giving you full control of your money through your smartphone. 

Yes, a homemaker can open a Savings Account with IDFC FIRST Bank—income proof is not mandatory. Valid KYC documents, such as Aadhaar and PAN, are sufficient to open the savings account.

Yes, joint accounts can be opened with family members, including spouse or parents. This setup allows for cooperative financial planning and easier management of household or joint expenses. 

The FIRST Power Account is designed for women aged 18 and above. However, IDFC FIRST Bank offers a specialised savings account for minors, the FIRST Prodigy Savings Account for those aged 10-18. 

Similarly, IDFC FIRST Bank has a Senior Citizens Savings Account tailored specifically to meet the needs of individuals above the age of 60. 

Yes, IDFC FIRST Bank offers a video KYC facility, allowing you to complete the KYC process through a secure video call. This makes the account opening process quick, convenient, and contactless.

Yes, you can open the FIRST Power Savings Account online through a 100% digital process. Simply complete the online application and video KYC—there’s no need to visit a branch.

The FIRST Power Savings Account is usually activated within a few minutes to a few hours when opened online with successful video KYC. If opened at a branch, activation is typically completed within minutes after all formalities and document verification are complete.