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IDBI Savings Accounts

IDBI Bank Savings Account

Last Updated 22nd Jan 2021

  • IDBI Bank offers a wide range of savings account products for specific customer groups.
  • Minimum balance requirement to open a savings account in IDBI Bank is Rs. 5,000 Metro and Urban, Rs. 2,500 Semi Urban, Rs. 500 Rural.
  • You can get high returns up to 3.60% on a savings account.
  • Open instant IDBI Bank savings account online.
  • Internet banking and mobile banking facility available.
  • The facility of safe deposits locker facility, nomination available in IDBI Bank.
Apply for Savings Account

IDBI Savings Account

IDBI Bank offers a wide range of savings accounts that allows individuals to deposit money, keep it safe, and withdraw funds, all while earning interest. It provides a savings account according to the needs of the specific customer groups and caters to their requirement. For instance, it offers the Premium saving account for its high-end customers and also provides the minor savings account for children below the age of 18 years. The bank offers several facilities like internet banking, mobile banking, and allows no minimum balance requirement in many saving account products.

Features and Benefits of IDBI Savings Account

Benefits of IDBI Bank saving Account are as follow:

  • IDBI Bank offers an interest rate on saving account in the range of 0.00% to 3.60%.
  • Balance requirement for IDBI Bank savings account is Rs. 5,000 Metro and Urban, Rs. 2,500 Semi Urban, Rs. 500 Rural.
  • An individual can transfer the IDBI Bank savings account to any other branch without changing the account number.
  • Safe deposits locker facility, nomination facility is also available.
  • IDBI Bank savings account provides the facility of linking to the Multi Option Deposit account to fetch higher term deposit interest on the surplus money.
  • It provides various kinds of debit cards as per account holder’s convenience.
  • IDBI Bank offer banking facilities like internet banking and missed call banking. An individual can also avail the mobile banking facility which provides services like interbank mobile payment services (IMPS), utility bill payments, mobile recharges, enquiry and statements and cheque book request.
  • No charge is levied for passbook service.

IDBI Savings account Charges

ProductMinimum balanceInterest RateNon Balance Maintenance Charges
Super Savings AccountRs. 5,000 Metro and Urban, Rs. 2,500 Semi Urban, Rs. 500 Rural0.00% - 3.60%--
SuperShakti (Womens) AccountRs. 5,000 Metro and Urban, Rs. 2,500 Semi Urban, Rs. 500 Rural4.00% - 4.00%--
Jubilee Plus (Senior Citizens) AccountNIL4.00% - 4.00%None
Being Me Account4.00% - 4.00%None
Power Kidz AccountRs. 5004.00% - 4.00%None
Small Account(Relaxed KYC)NIL4.00% - 4.00%None
Sabka Basic Savings Account(Complete KYC)NIL4.00% - 4.00%None
Pension Savings Account(Central govt. Employee)NIL4.00% - 4.00%None
Capital Gain Account SchemeRs. 10,0004.00% - 4.00%--

IDBI Savings Account Products

IDBI offers multiple savings account products for different purposes. Some of the popular products of IDBI savings are:

Super Savings Account

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

Key Features:

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

Eligibility:

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

SuperShakti (Womens) Account

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

Key Features:

  • 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

Eligibility:

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

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.

Key Features:

  • 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

Eligibility:

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

Being Me Account

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

Key Features:

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

Eligibility:

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

Power Kidz Account

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

Key Features:

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

Eligibility:

  • The features of this account can be enjoyed by minors

Small Account(Relaxed KYC)

This account makes banking inclusive by relaxing the documentation process.

Key Features:

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

Eligibility:

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

Sabka Basic Savings Account(Complete KYC)

Banking services accessible at ease for all.

Key Features:

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

Eligibility:

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

Pension Savings Account(Central govt. Employee)

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

Key Features:

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

Eligibility:

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

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.

Key Features:

  • 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

Eligibility:

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

IDBI Savings Account Nomination Plan

IDBI Bank asks their customers to make nominations which imply that they should nominate individuals to whom the amount lying in their accounts should go in the event of their death. Nomination can be made in account opening form itself or on a separate form indicating the name and address of the nominee. The person can change the nomination any time. IDBI savings account provides the nomination facility in all the savings products.

IDBI Savings Account Welcome Kit

IDBI Bank provides a Welcome Kit containing personalised cheque book and ATM Card, which is mailed to the customers’ postal address selected for correspondence, after 7 – 8 working days from the date of opening of a particular savings account.

Top Applications Offering UPI Facility

IDBI Savings Account Helpline

Individuals can call IDBI Bank’s 24X7 helpline number 1800-209-4324/ 180-022-1070, which is accessible from all landlines and mobile phones in the country.

Open saving account with Other Banks online

FAQs

Can I open IDBI bank account online?

IDBI Bank enables individuals to open a savings bank account online as well. Individuals can open an Insta saving account and digital savings account.

What is the minimum balance for an IDBI savings account?

Minimum balance requirement differs with IDBI Bank saving account products. The minimum balance required to open a Super Savings Account in IDBI Bank is Rs. 5,000 Metro and Urban, Rs. 2,500 Semi Urban, Rs. 500 Rural.

Which saving account is best in IDBI?

There are various savings account products offered by IDBI Bank. These accounts are specially developed for a certain section of people. Individuals may compare the interest rate offered, minimum account requirements and facilities provided to select the best product.

Can I open IDBI account with zero balance?

The minimum balance requirement to open a savings account with IDBI Bank is Rs. 5,000 Metro and Urban, Rs. 2,500 Semi Urban, Rs. 500 Rural. If any individual does not maintain the minimum balance then non-balance maintenance charges are levied.


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IDBI News - Jan 2021
  • 2020-10-20 : IDBI Bank launched banking services on WhatsApp
    IDBI Bank launched the banking service on WhatsApp. WhatsApp Banking service will be offered through a dedicated WhatsApp verified number. The bank customers will be able to avail various essential banking services such as account balance information, last five transactions, request for a cheque book and an email statement through newly launched WhatsApp banking services. Further, the details of the nearest IDBI Bank branches or ATMs will also be available via WhatsApp.
  • 2020-07-28 : IDBI Bank reported Q1 net profit of ₹144 crore
    IDBI Bank reported Rs 144 crore net profit for June quarter on account of a reversal of Rs 1335 crore of bad loan provisioning. It is IDBI second successive net profit after 13 consecutive quarters of loss. CASA increased to ₹ 1,04,315 crore and cost of deposit which includes fixed and recurring deposits improved by 64 bps to 4.65%. In addition to this, NII bolstered by home, personal, gold, car and two-wheeler loan along with business and mudra loans stood at ₹ 1,773 crores.
  • 2020-02-12 : IDBI Bank reported a Q3 profit before tax of Rs. 756 crores
    Private sector lender IDBI Bank posted a Q3 profit before tax of Rs. 756 crores. It was driven by an increase in Net Interest Income and a slump in provisions by loans. Further, the Bank Fixed and recurring deposits grew to Rs. 2,18,180 crores and the share of saving and current accounts rose to 47.65%.
  • 2019-04-17 : IDBI Bank introduces a new feature that facilitates the opening of a savings bank account
    Private sector lender, IDBI Bank has introduced mobile and web-based services to help consumers in opening and activating a savings bank account. Using this new facility, the customers will be able to open their savings account by using e-KYC or QR code method in few seconds without the need for any physical paperwork.
  • 2019-04-16 : IDBI Bank announces the launch of mobile and web-based savings bank account opening interface
    Private sector lender, IDBI Bank has said that it has launched a mobile and web-based savings bank account opening interface. This will help customers open and activate their savings bank account by using Aadhaar E-KYC or QR Code mechanism through a user-friendly interface. This interface will help customers to open their savings account in very less time without the need of any paperwork.
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