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IDBI Jubilee Plus Account for Senior Citizens

IDBI Jubilee Plus Account is specially crafted to meet the banking requirements of senior citizens. This savings account combines the benefit of easy banking facilities with a host of other special privileges. Senior citizens will immensely benefit from features like auto sweep in / sweep out, discount on locker charges and free money transfer facility.

Category IDBI Jubilee Plus Account for Senior Citizens
Minimum Balance Requirements (MAB) Zero Balance Savings Account
Initial Deposit Requirements Nil
Interest Rate 4% per annum on daily balance basis
Debit Card Offered Issued on the basis of the option selected while opening the account.

Services Offered with IDBI Jubilee Plus Account for Senior Citizens

The following services comes with IDBI Jubilee Plus Account for Senior Citizens.

Passbook and e-Statements Passbook is provided at no extra cost. For e-Statements, a nominal fee of Rs.5 is charged for daily and weekly frequencies. Quarterly e-Statements are free.
SMS Alerts Offered at no extra cost
Cheque Book 60 cheque leaves free for the first year and for every subsequent years, 50 cheque leaves will be offered at no extra cost.
Internet Banking Offered at no extra cost
Cash Withdrawals at other bank ATMs 10 transactions free per month

Features of IDBI Jubilee Plus Account for Senior Citizens

IDBI Jubilee Plus Account comes with the following benefits that will delight the account holder.

Free Statements Quarterly e-Statements will be sent to the account holder’s registered e-mail address at no extra cost.
Discount on Locker Charges Account holders will be offered 25% discount on locker charges.
Sweep In / Sweep Out Options For account balance exceeding Rs. 15,000, Sweep In / Sweep Out options are offered for Fixed Deposits.
Online Payment Options Account holders can pay their utility bills and taxes online using IDBI Net Banking without any hassles.
Free Cash Transfer Facility Customers can use their Net Banking account to perform a NEFT transaction at no extra cost.
Banking Convenience Free phone banking and internet banking facilities.
Higher ATM Withdrawal Limits With the ATM Debit Card offered with this account, IDBI Jubilee Plus customers get an enhanced cash withdrawal limit of Rs. 50,000 per day.
Free Account Account holders will be offered the facility to open one free zero balance sponsor account.

Fees and Charges for IDBI Jubilee Plus Account for Senior Citizens

The fees and charges pertaining to various services offered with IDBI Jubilee Plus Account for Senior Citizens are as given below.

Service / Product Fees & Charges
Duplicate Passbook Rs. 100
Annual Fee for Debit cum ATM Card Rs. 220 from second year onwards
Transactions at other bank ATMs 10 transactions free per month and thereafter, Rs. 20 and Rs. 8 will be charged for financial and non financial transactions respectively.
Interest Certificate Once in a year, offered for ITR purpose - Free of cost and Rs. 100 for additional interest certificate for other purposes
Point of Sale Limit Rs. 50,000 per day
Demand Draft Charges Rs. 3 per Rs.1000 and part thereof
NEFT through Net Banking Free
NEFT through Branch Channel From Rs. 5 to Rs. 25 depending on the amount to be transferred. For funds up to Rs. 10, 000, no charges will be levied for NEFT transaction.
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
Any branch cheque deposits Free

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

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