IDBI Bank Account Opening Form, Minimum Balance, Docs & Charges

Savings accounts were introduced so that depositors may receive interest on their money. Although you are not permitted to withdraw funds from a savings account, it is an excellent way to lay aside a portion of your liquid assets for the future. It essentially translates to higher interest rates and a faster rate of accumulation. However, the comparison is essential because not all savings accounts are created equal. Before choosing one, consider a number of broad and variable factors such as interest rates, minimum deposit requirements, and more. The article will tell you more details about the IDBI Bank Account Opening Process and other related details.

IDBI Savings Accounts provide you with a comprehensive financial solution that includes a lot of options for managing your money wisely.

IDBI Bank Account Opening

IDBI Bank Account Opening Process

A healthy savings account reflects highly on the account holder’s credit score and cash management abilities. It is strongly advised that you set aside a certain amount in your savings account for foreseeable or unpredictable emergencies. It is recommended that you save enough money to last at least six months. It’s the greatest and ideal way to get you through a serious emergency without jeopardizing your financial safety.

It’s simple to apply for an IDBI Bank Savings Account. Simply contact or visit your local IDBI office, and a member of staff will walk you through the procedure. Customers can also apply for an IDBI Savings Account by completing and submitting an online application form on the bank’s website.

HDFC Bank Account Opening

Interest Rates on IDBI Bank Account Opening

Savings Bank RateSaving Balance of: Less than Rs.50 lakh: 3.00% p.a. Between Rs.50 lakh to Rs.5 crore: 3.25% p.a. Above Rs.5 crore: 3.35%
Base Rate9.65%
Current BPLR14.15%

These interest rates took effect on July 14, 2021.

Minimum Balance Requirement on IDBI Bank Account Opening

Suraksha Plus SavingsINR 5000
SuperShakti Account (For Women)INR 5000
SuperSavings AccountINR 5000
Being Me AccountINR 2500
Jubilee Plus Account (For Senior Citizens)0
Small Account (Relaxed KYC)0
Power Kidz AccountINR 1500
Pension Savings Account (Central Govt. Emp)0
Sabka Basic Savings Account (Complete KYC)0
Capital Gain Account SchemeINR 10,000

Federal Bank Account Opening 

IDBI Savings Account Features and Benefits

  • Paying your invoices and taxes online allows for faster financial transactions.
  • When compared to other immediate banking solutions, it is a terrific way to save money because you can earn more interest by choosing an appropriate IDBI Saving Account.
  • When you open an account, you’ll receive a global debit card and a passbook.
  • You can deposit DDs, checks, or cash with ease.
  • You not only save a lot of money, but you also earn rebates and prizes when you travel.

Types of Savings Account with IDBI

IDBI Suraksha Plus Savings offers the following types of savings accounts:

  • SuperSavings Account
  • SuperShaktiAccount (For Women)
  • Jubilee Plus Account (For Senior Citizens)
  • Being Me Account 
  •  Power Kids Account
  • Small Account (Relaxed KYC)
  • Sabka Basic Savings Account (Complete KYC)
  • Pension Savings Account (Central Government. Emp)
  • Capital Gain Account Scheme

Dhanlaxmi Bank Account Opening

Charges for using an ATM

When you use an IDBI ATM, there are no transaction fees. The first five ATM transactions at other banks are similarly free. After that, there will be a minor cost of INR 20 for withdrawing money and INR 8 for checking your balance.

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