IDBI Savings Account Interest Rates

IDBI Bank offers an interest rate ranging upto 3.35% on the minimum average balance maintained in the savings account. It calculates the interest rate on savings bank accounts on a daily basis. However, the interest is paid to the account holders every quarter. With IDBI Bank Savings Account youth and minors can get additional benefits on their Savings Account. IDBI Bank also offers attractive benefits like mobile and internet banking services, free Debit Card and customised savings account depending on different customer profiles.

IDBI Bank Savings Account helps you to save money by providing interest on your idle money deposited in the savings accounts. The rate of interest on IDBI Bank Savings Account varies as per the Savings Account product. Some of the key features and benefits of IDBI Bank savings account are:

• It offers interest rates upto 3.35% p.a. You can easily access IDBI Bank Savings Account anywhere through a large network of branches and ATMs .
• If you want to transfer funds from IDBI Bank Savings account to any other bank account, you can do it through modes such as RTGS , IMPS, NEFT and UPI facilities.
• To maintain an IDBI Bank Savings account, you require a minimum balance of Rs. 5,000 Metro and Urban, Rs. 2,500 Semi Urban, Rs. 500 Rural.
• IDBI Bank personalized account number and cheque book enhances security and ensures your money is safe.
• You can get SMS Alerts and e-statement facilities with IDBI Bank Savings Account.
• With the Auto Sweep Facility of IDBI Bank, your account can be linked to a Multi Option Deposit MOD account.

Saving Account	Interest Rate	Minimum Balance
Super Savings Account	3.00% - 3.35%	Rs. 5,000 Metro and Urban, Rs. 2,500 Semi Urban, Rs. 500 Rural
SuperShakti (Womens) Account	3.00% - 3.35%	Rs. 5,000 Metro and Urban, Rs. 2,500 Semi Urban, Rs. 500 Rural
Jubilee Plus (Senior Citizens) Account	3.35% - 3.35%	NIL
Being Me Account	3.35% - 3.35%	N.A
Power Kidz Account	3.35% - 3.35%	Rs. 500
Small Account(Relaxed KYC)	3.35% - 3.35%	NIL
Sabka Basic Savings Account(Complete KYC)	3.35% - 3.35%	NIL
Pension Savings Account(Central govt. Employee)	3.35% - 3.35%	NIL
Capital Gain Account Scheme	3.35% - 3.35%	Rs. 10,000

To open a savings account in IDBI Bank, you need to fulfill the following eligibility criteria:

• You need to have valid KYC Documents.
• You can open a savings account singly or jointly.

You can open a savings account with prescribed application form and minimum KYC documents, which are mentioned below:

• Application Form with attested photographs
• Proof of identity- Passport, Voter ID card, PAN Card, Govt./Defence ID card, Driving Licence etc.
• Proof of current address- Credit Card Statement, Salary slip, Electricity Bill/Telephone Bill, ration card etc.

As per the RBI mandate, IDBI Bank calculates saving account rate on average balances in the account on a daily basis. The interest can however be paid monthly, annually or quarterly. The following formula is used by IDBI Bank to calculate interest on Savings Bank Account on the basis of daily balance in the account

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

• Super Savings Account : IDBI Bank offers interest rates ranging between 3.00% to 3.35% on Super Savings Account.You can open a Super Savings Account in IDBI Bank by depositing Rs. 5,000 Metro and Urban, Rs. 2,500 Semi Urban, Rs. 500 Rural amount as minimum balance.
• SuperShakti (Womens) Account : If you have deposited your excess funds in a SuperShakti (Womens) Account, you can get interest at 3.00% to 3.35% on your account. This account can be opened by anyone with a minimum age of 18 years.
• Jubilee Plus (Senior Citizens) Account : IDBI Bank provides interest rates ranging between 3.35% to 3.35% on Jubilee Plus (Senior Citizens) Account. The minimum balance requirement to open this account is NIL.
• Being Me Account : You can get interest at 3.35% and 3.35% respectively on Being Me Account in IDBI Bank. The account can be opened in IDBI Bank by depositing amount.
• Power Kidz Account : If you have deposited your excess funds in a Power Kidz Account, you can get interest at 3.35% to 3.35% on your account.
• Small Account(Relaxed KYC) : You can get interest at 3.35% to 3.35% in Small Account(Relaxed KYC). This account can be opened in IDBI Bank by depositing a minimum amount of NIL after an age of 18 years.
• Sabka Basic Savings Account(Complete KYC) : The interest that you can earn on Sabka Basic Savings Account(Complete KYC) is in the range of 3.35% to 3.35% respectively.
• Pension Savings Account(Central govt. Employee) : IDBI Bank provides interest rate at 3.35% to 3.35% on Pension Savings Account(Central govt. Employee). Further, to open this Saving Account, the minimum balance requirement is NIL. You can open this account at a minimum age of 18 years.

✅How much interest is charged by IDBI Bank on Savings Account?

As per the current rates, IDBI Bank offers maximum interest rate of 3.35% on Savings Account. IDBI Bank provides this interest on the minimum balance maintenance of Rs. 5,000 Metro and Urban, Rs. 2,500 Semi Urban, Rs. 500 Rural. The interest rate may however vary across the IDBI Bank savings account product.

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

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

✅How does IDBI Bank 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?

To open a savings account in IDBI Bank you need to fulfill the following eligibility criteria:

• This account is for resident Indians of 18 years of age and above
• You must have your basic KYC done