IDBI Bank Savings Account
A savings account is a type of deposit account that enables customers to save money while earning interest. You can easily use a savings account to conduct transactions since it is one among the most liquid investments. IDBI Bank, a leading public sector bank provides a variety of options for savings accounts.
Before selecting a savings account, you need to consider several broad and varying aspects like interest rates, minimum deposit requirements, etc. Let us take a look at the different types of IDBI Bank savings accounts, how to open a savings account online, and other important details.
How to Open an IDBI Bank Savings Account Online?
Applying to open an IDBI Bank Savings Account is quite easy. You just need to call or visit your nearest IDBI office and one of the staff will take you through the process. Customers can also apply for an IDBI Savings Account through the bank website by submitting a duly filled online application form.
IDBI Bank Savings Account Interest Rates:
Savings Bank Rate | Saving Balance of: Up-to Rs.1 lakh: 2.75% Above Rs.1 lakh to Rs.5 lakh: 2.90% Above Rs.5 lakh to Rs.5 crore: 3.00% Above Rs.5 crore to Rs.100 crore: 3.25% Above Rs.100 crore to Rs.1000 crore: 3.50% Above Rs.1000 crore to Rs.1500 crore: MIBOR + 10bps p.a. Above Rs.1500 crore to Rs.2000 crore: MIBOR + 40 bps p.a. Above Rs.2000 crore to Rs.5000 crore: MIBOR + 75 bps p.a. Above Rs.5000 crore: MIBOR + 65 bps p.a. |
Base Rate | 9.65% |
Current BPLR | 14.15% |
Note: These interest rates are effective from 8 February 2025.
IDBI Bank Minimum Balance:
Suraksha Plus Savings | Rs.5000 |
SuperSavings Account | Rs.5000 |
SuperShakti Account (For Women) | Rs.5000 |
Jubilee Plus Account (For Senior Citizens) | 0 |
Being Me Account | Rs.2500 |
Power Kidz Account | Rs.1500 |
Small Account (Relaxed KYC) | 0 |
Sabka Basic Savings Account (Complete KYC) | 0 |
Pension Savings Account (Central Govt. Emp) | 0 |
Capital Gain Account Scheme | Rs.10,000 |
Features & Benefits of IDBI Savings Account:
- Quicker fund transactions with online facilities to pay your bills and tax.
- It is a great means to accrue money as you can earn more interest by opting for a suitable IDBI Saving Account when compared to other instant banking options.
- You get a global debit card and passbook as you open an account.
- You can easily deposit Demand Drafts (DDs), cheque or cash.
- Along with saving a great deal, you also get rebates and gifts on travel.
Types of Savings Account with IDBI:
- Suraksha Plus Savings:
- SuperSavings Account
- SuperShakti Account (For Women)
- Jubilee Plus Account (For Senior Citizens)
- Being Me Account
- Power Kidz Account
- Small Account (Relaxed Know Your Customer)
- Sabka Basic Savings Account (Complete KYC)
- Pension Savings Account (Central Government. Emp)
- Capital Gain Account Scheme
ATM Transaction charges
There are no transaction charges when you use an IDBI ATM. The first five transactions in other banks' ATM is also not charged. After that a small fee of Rs.20 will be charged for withdrawing money and Rs.8 will be levied for checking your balance.
Other Banks offering Savings Account in India
Bank of Baroda Savings Account
Conclusion
A thriving savings account reflects well on the account user's credit score and amazing skill for cash management. It is strongly recommended that you retain a specific amount for foreseen or unforeseen crisis in your savings account. You are advised to save enough money that will last you for at least six months. It is an ideal and perfect means to get you through a true contingency without upsetting your financial stability.
Other Products from IDBI
- IDBI Bank Credit Card
- IDBI Bank Education Loan
- IDBI Bank Personal Loan
- IDBI Bank Car Loan
- Idbi Bank Car Loan Interest Rates
- Idbi Bank Car Loan Eligibility Calculator
- IDBI Bank Recurring Deposit Rates
- IDBI Bank Fixed Deposit Rates
- IDBI Personal Loan
- IDBI Bank Personal Loan Eligibility
- IDBI Home Loan
- IDBI IFSC Code
Other products of IDBI Savings Account
- IDBI Suraksha Plus Savings
- IDBI SuperSavings Account
- IDBI SuperShakti Account (For Women)
- IDBI Jubilee Plus Account (For Senior Citizens)
- IDBI Being Me Account
- IDBI Power Kidz Account
- IDBI Small Account (Relaxed KYC)
- IDBI Sabka Basic Savings Account (Complete KYC)
- IDBI Pension Savings Account (Central Government. Emp)
- IDBI Capital Gain Account Scheme
- IDBI Bank Debit Cards
- IDBI Bank Mobile Banking
Generic Savings Account Pages
- Saving Account
- Internet Banking
- Post Office Savings Account
- Saving Account Interest Rate
- Savings Account For Women
- Demonetisation
- Savings Account Gold Monetization Scheme
- HDFC Net Banking
- Kotak Net Banking
- PNB Net Banking
- Axis Bank Net Banking
- Canara Net Banking
- Bank of Baroda Net Banking
- IndusInd Net Banking
- YES Net Banking
- SBI Mobile Banking
- HDFC Mobile Banking
- Axis Bank Mobile Banking
- HSBC Bank Mobile Banking
- IndusInd Mobile Banking
- Citibank Mobile Banking
- PNB Mobile Banking
- YES Mobile Banking
- Kotak Mobile Banking
- IDBI Mobile Banking
- Dhanlaxmi Bank Mobile Banking
Savings Account Guide Pages
- Steps to Develop a Healthy Saving Habit
- Which Type of Account Is Usually the Most Liquid?
- Banking Mistakes You Cannot Afford to Make
- What is Inactive or Dormant Bank Account?
- NRE Savings Account v/s NRO Savings Account
- Should I Go for One Bank or Many When it Comes to Keeping my Accounts
- Converting Salary Account to Savings Account - Things To Remember
- Savings Bank Accounts v/s Current Accounts
- Top 7 Smart Money Saving Tips
- Top 8 Money Management Tips Even During Job Loss
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.
FAQs on IDBI Bank Savings Account
- What is the minimum balance required to open IDBI Bank Super Savings Account?
For metro and urban branches, you must maintain a Monthly Average Balance (MAB) of Rs.5,000. For semi-urban branches, it is Rs.2,500; and for rural branches, the MAB is Rs.500.
- Can I open a Demat Account with my IDBI Bank Super Savings Account?
Yes, a Demat Account can be opened with an IDBI Bank Super Savings Account.
- How to apply for the IDBI Bank Basic Savings Account?
You can apply for the IDBI Bank Basic Savings Account through phone banking or by visiting the nearest branch of IDBI Bank.
- What is the ATM cash withdrawal limit for the IDBI Bank Senior Citizen Account?
The ATM cash withdrawal limit for the IDBI Bank Senior Citizen Account is Rs.50,000 per day.
- Who can use video KYC to open a savings account with IDBI Bank?
Only first time IDBI Bank customers are eligible to use video KYC to open a savings account.
- Does video KYC require Aadhaar?
Yes, completing the video KYC requires Aadhaar. The process of authenticating Aadhaar involves obtaining an OTP on the registered mobile number.
- What is the maximum amount I can withdraw using my ATM/international debit card?
Withdrawals from your International Debit/ATM card are permitted up to Rs.25,000 per day. It can also be used at ATMs operated by other banks.
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