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IDBI Saving Account

Last Updated 12th Sep 2019

IDBI Bank Savings Account Interest Rate India Sep 2019

IDBI Bank Super Savings Account
Interest Rate Upto Rs. 100 Cr : 4.00%
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Minimum Account Balance Rs. 5,000 Metro and Urban, Rs. 2,500 Semi Urban, Rs. 500 Rural
  • Offers you online options to pay your bills or taxes
  • Customers enjoy free amount transfer from Net Banking
  • Quicker fund transactions

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IDBI Online Saving Account

IDBI Bank is the youngest, new generation, public sector universal bank. The Bank offers personalized banking and financial solutions to its clients in the retail and corporate banking arena.

Saving Account in IDBI – Benefits

You get the following benefits while opening Savings Account with IDBI

Nomination facility Yes
Passbook facility Yes
Chequebook facility Yes
Issuance of Debit Card Yes
Internet Banking Yes
Mobile Banking Yes
Fund Transfer Yes
DD Pay Orders Yes

IDBI Savings Account

IDBI Bank offers an interest rate of 4.00% - 4.00% p.a. IDBI Bank also offer accounts to meet the specific requirements of salaried, women, kids and senior citizens.

Product Name Minimum Age Minimum Balance Required
Super Savings Account 18 years Rs. 5,000 Metro and Urban, Rs. 2,500 Semi Urban, Rs. 500 Rural
SuperShakti (Womens) Account 18 years Rs. 5,000 Metro and Urban, Rs. 2,500 Semi Urban, Rs. 500 Rural
Jubilee Plus (Senior Citizens) Account 60 years Nil
Being Me Account 18 years N.A
Power Kidz Account 10 years Rs. 500
Small Account(Relaxed KYC) 18 years Nil
Sabka Basic Savings Account(Complete KYC) 18 years Nil
Pension Savings Account(Central govt. Employee) 18 years Nil
Capital Gain Account Scheme 18 years Rs. 10,000

IDBI Savings Account Products

Super Savings Account

This account helps you meet your day to day banking needs while giving you 24X7 access to your bank.

This account is for resident Indians of 18 years of age and above

Features of Super Savings Account

  • Offers you online options to pay your bills or taxes
  • Customers enjoy free amount transfer from Net Banking
  • Quicker fund transactions

SuperShakti (Womens) Account

A complete solution catering to banking, investment needs pertaining to a woman and her children.

This account serves only women Indian Residents above the age of 18 years

Features of SuperShakti (Womens) Account

  • Offers Two free zero balance accounts for their children below the age of 18 years
  • Avail 25 percent discount on Locker services
  • Free amount transfer from Net Banking
  • Provides Auto Sweep out or sweep in facility above Rs. 15,000

Cash Withdrawal Limit : Rs. 40,000

Jubilee Plus (Senior Citizens) Account

This account helps the senior citizens to avail preferential benefits that take the burden off banking, making it hassle free.

Resident Indians who have turned 60 can enjoy the priveleges that come with this account

Features of Jubilee Plus (Senior Citizens) Account

  • 25 percent discount on lockers charges
  • Sweep In or Out FD option available for balance above Rs. 15,000
  • Free amount transfer from Net Banking
  • Zero Balance savings account

Cash Withdrawal Limit : Rs. 50,000

Balance Non Maintenance Charges : None

Being Me Account

This account is for youth, helping them inculcate financial discipline.

This account is for resident Indians of 18 years of age and above

Features of Being Me Account

  • Preferential rate on educational loan
  • Experts offer training on financial planning
  • Avail discounted charges for opening of share trading account with ICMS

Cash Withdrawal Limit : Rs. 25,000

Balance Non Maintenance Charges : None

Power Kidz Account

Inculcate the habit of savings and spending judiciously in your minor who can open this account and manage it independently.

The features of this account can be enjoyed by minors

Features of Power Kidz Account

  • Personalized Cheque Book
  • Free monthly statements via mail on request

Cash Withdrawal Limit : Rs. 2,000

Balance Non Maintenance Charges : None

Small Account(Relaxed KYC)

This account makes banking inclusive by relaxing the documentation process.

This account is for resident Indians of 18 years of age and above

Features of Small Account(Relaxed KYC)

  • No charges for Electronic Fund Transfer
  • No charges for any Branch Home and Non Home Branch Cash deposit
  • Relaxed KYC

Balance Non Maintenance Charges : None

Sabka Basic Savings Account(Complete KYC)

Banking services accessible at ease for all.

This account is for resident Indians of 18 years of age and above

Features of Sabka Basic Savings Account(Complete KYC)

  • No charges for Electronic Fund Transfer
  • No charges for any Branch Home and Non Home Branch Cash deposit
  • Complete KYC

Balance Non Maintenance Charges : None

Pension Savings Account(Central govt. Employee)

This bank helps pensioneers a great deal by giving them every ease in banking.

This account is for resident Indians of 18 years of age and above

Features of Pension Savings Account(Central govt. Employee)

  • Personalized multicity Cheque Book
  • Online options to pay your bills or tax
  • Faster transfer of funds

Balance Non Maintenance Charges : None

Capital Gain Account Scheme

This scheme facilitates investment in order to save Capital Gains tax for the Capital Gains made by selling a capital investment.

This account can be opened by Resident Individuals, Body of individuals, Sole proprietorship firms and Partnership firms

Features of Capital Gain Account Scheme

  • Acceptance of deposits in the form of Savings Deposit or Term Deposit for availing benefit
  • All entities of investors looking at investment to save Capital Gains Tax
  • There will be two types of deposit accounts: Savings and Term Deposits

Documents Required

IDBI Bank requires the following documents to open a Savings Account

  • Basic KYC documents
  • In case of Power Kidz Account, I S A of Guardian, Minor Declaration to be signed by the Guardian ,Guardian's photograph and signature required on AOF, Minor's DOB Proof are required

Frequently Asked Questions on IDBI Bank Savings Account

How much interest is charged by IDBI on Savings Account?

IDBI offers an interest rate of 4.00% to 4.00% on Savings Account.

What is the minimum amount required for opening Savings Account in IDBI Bank ?

The minimum amount required for opening Savings Account in IDBI is Rs. 5,000 Metro and Urban, Rs. 2,500 Semi Urban, Rs. 500 Rural.

How does IDBI calculate interest charged on Savings Account?

Interest on Savings Account is calculated on Quarterly basis. The following formula is used by IDBI Bank to calculate interest on Savings Account.

Monthly interest=Amount (Daily balance)*(No of days)* Interest/Days in the year

What is the eligibility criteria to open a savings account in IDBI Bank
  • This account is for resident Indians of 18 years of age and above
IDBI News - Sep 2019
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