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IDBI Being Me Savings Account



IDBI “Being Me” Savings Account is designed for today’s youth and the account comes with an array of exclusive advantages. This savings account will help the future generation in learning the nuances of modern banking. With benefits like preferential loan rates and financial planning training, youngsters will be motivated to save money.

Bank IDBI
Category IDBI “Being Me” Savings Account
Initial Deposit Requirements Initial account opening amount must be at least Rs. 2,500.
Minimum Average Balance Requirements (MAB) Monthly Average Balance of Rs. 2,500 is to be maintained.
Debit Card Offered IDBI “Being Me” ATM cum Debit Card
Interest Rate 4% per annum on daily balance

Services Offered with IDBI “Being Me” Savings Account

IDBI “Being Me” Savings Account holders can benefit from the services described below.

Passbook and e-Statements

Passbook is offered at no extra cost.

e-Statements are sent to the account holder’s mail address at a nominal charge of Rs. 5 for daily and weekly frequencies. Quarterly e-Statements are offered at no extra cost.

Internet Banking Provided at no extra cost
SMS Alerts Offered free of cost
Cash Withdrawal Other Bank ATMs - 3 transactions free per month across 6 metro locations and 5 transactions free per month at all locations except metros. IDBI Bank ATMs - Free unlimited transactions per month (both financial and non financial)
Cheque Book

First year of account opening - 60 cheque leaves free

All subsequent years - 50 cheque leaves free

Features of IDBI “Being Me” Savings Account

IDBI “Being Me” Savings Account holders enjoy the following benefits that come with the account.

Preferential Loan Rates IDBI “Being Me” Savings Account customers will be offered preferential rates for educational loan.
Discount Rates for trading account Account holders enjoy discounted rates for opening of ICMS share trading account.
No charges for non maintenance of MAB If the account balance falls below the minimum average balance, the account holder will not be penalized for the same.
Financial Training IDBI “Being Me” Savings Account customers will be offered a training on financial planning
Exclusive ATM Card IDBI “Being Me” Savings Account customers will be offered an exclusively designed ATM Card.
High ATM Cash Withdrawal Limit Using IDBI “Being Me” Debit Card, customers can withdraw up to Rs. 25,000 per day.
Impeccable Banking Convenience Customers will immensely benefit from free internet banking and phone banking options.
Faster Fund Transfer Customers can use Net Banking facility and transfer funds through NEFT without having to visit the bank branch.

Fees and Charges for IDBI “Being Me” Savings Account

Service / Product Fees & Charges
Point of Sale Limit Rs. 25,000 per day
NEFT through Net Banking Free
Cheque Stop Payment Instructions Rs. 50 per cheque leaf
Duplicate Passbook Rs. 100
Any branch cheque deposits Free
Annual Fee for Debit cum ATM Card Rs. 110 to Rs. 220 from second year onwards
Account Closure Charges

Within 14 days - Nil

Over 14 days to up to 1 year - Rs. 100

Beyond 1 year - Nil

Online VISA Card Remittance Charges Rs. 5 per transaction including service tax
NEFT through Branch Channel From Rs. 5 to Rs. 25 depending on the amount to be transferred. For amount up to Rs.10,000 to be transferred through NEFT, no charges will be levied.
Demand Draft Charges Rs. 3 per Rs.1000 and part thereof
Interest Certificate Once in a year, offered for ITR purpose - Free of cost and Rs. 100 for additional interest certificate for other purposes

GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.

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