IDFC Bank Saving Account

Last Updated 08th Mar 2019

IDFC Bank Savings Account Interest Rate India May 2019

IDFC Bank
Interest Rate Upto Rs. 0 : %
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Saving Account in IDFC Bank – Benefits

You get the following benefits while opening Savings Account with IDFC Bank

Nomination facility No
Passbook facility No
Chequebook facility No
Issuance of Debit Card No
Internet Banking No
Mobile Banking No
Fund Transfer No
DD Pay Orders No

IDFC Bank Savings Account

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

Product Name Minimum Age Minimum Balance Required
Savings Account 18 years Rs. 25,000
Corporate salary account 18 years Nil
Minor Saving Account 1 year N.A
Senior Citizen Savings Account 60 years Nil
Basic Savings Bank Deposit Account Personal Banking 18 years Nil
Basic Savings Bank Deposit Small Account 18 years Nil
Pratham Savings Account 18 years Nil
Shakti Savings Account 18 years Rs. 100
Param Savings Account 18 years Rs. 1,000 QAB
Vishesh Savings Account 18 years Rs. 5,000 QAB

IDFC Bank Savings Account Products

Savings Account

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

Features of Savings Account

  • A minimum amount of Rs. 25,000 is required for opening your account

Debit Card Offered : Visa signature debit card

Balance Non Maintenance Charges : None

Corporate salary account

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

Features of Corporate salary account

  • No charges for any funds transfers through IMPS, RTGS and NEFT

Debit Card Offered : Universal Debit Card

Minor Saving Account

This account can be opened by children up to 18 years of age and the parent or guardian must hold a Savings Account with the bank

Features of Minor Saving Account

  • Once the balance in the minor's exceeds Rs. 15,000, the amount in excess of Rs. 10,000 is automatically transferred to a Fixed Deposit
  • A standing instruction from the parent's account to the minors account for a period of 2 years with minimum amount as Rs. 2,000 per month is mandatory
  • An initial pay in of Rs. 25,000

Cash Withdrawal Limit : Rs. 10,000

Senior Citizen Savings Account

This account is for senior citizens that are 60 years of age and above

Features of Senior Citizen Savings Account

  • Once the balance in the Senior Citizen's Account exceeds Rs. 75,000, the amount in excess of Rs. 50,000 is transferred to a Fixed Deposit
  • An initial pay in of Rs. 25,000

Basic Savings Bank Deposit Account Personal Banking

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

Features of Basic Savings Bank Deposit Account Personal Banking

  • Holders of BSBDA will not be eligible for opening any other savings bank deposit account in the bank

Basic Savings Bank Deposit Small Account

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

Features of Basic Savings Bank Deposit Small Account

  • Nil initial pay
  • Relaxed KYC, you can get your account opened with latest passport size photograph

Debit Card Offered : ATM cum Debit Card

Pratham Savings Account

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

Features of Pratham Savings Account

  • Receive all your Government Payments and Subsidies directly into your Pratham BSBDA Account
  • Zero balance account

Balance Non Maintenance Charges : Rs. 20 per quarter

Shakti Savings Account

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

Features of Shakti Savings Account

  • Rs. 2 Lacs of online fraud cover and Rs. 1 Lac of personal accidental insurance cover

Balance Non Maintenance Charges : Rs. 100 per quarter, if balance maintained is between Rs. 500 and less than Rs. 1,000. In case of balance maintained is less than Rs. 500 then charge is Rs. 200 per quarter

Param Savings Account

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

Features of Param Savings Account

  • Get Rs. 2 Lacs of online fraud cover and Rs. 1 Lac of personal accidental insurance cover

Vishesh Savings Account

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

Features of Vishesh Savings Account

  • Get online fraud cover of Rs. 2 Lacs and personal accidental insurance cover of Rs. 2 lacs
  • 5 percent cashback on utility bill payments
  • 15 percent discount on minimum billing of Rs. 300 on food and beverages at Cafe Coffee Day

Debit Card Offered : Vishesh Platinum Debit Card

Documents Required

IDFC Bank requires the following documents to open a Savings Account

    Frequently Asked Questions on IDFC Bank Savings Account

    How much interest is charged by IDFC Bank on Savings Account?

    IDFC Bank offers an interest rate of % to % on Savings Account.

    How does IDFC Bank calculate interest charged on Savings Account?

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

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

    Does IDFC Bank offer Debit card to the account holder?

    Yes, various debit cards are offered, differing according to the product. Some of the popular savings account products of IDFC Bank with the type of debit card offered are listed in the table below.

    Savings AccountVisa signature debit card
    Corporate salary accountUniversal Debit Card
    Basic Savings Bank Deposit Small AccountATM cum Debit Card
    Vishesh Savings AccountVishesh Platinum Debit Card

    Interest rate on all SBI deposits products listed in the table above is % to %

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