IDBI Pension Savings Account is specially designed to meet the banking requirements of pensioners. With a host of special privileges and value added transactions, this account will make banking easier for pensioners. Other benefits of this account include anytime banking feature, exclusive privileges, international debit card and net banking facility.
|Category||IDBI Pension Savings Account|
|Initial Deposit Requirements||Nil|
|Minimum Average Balance Requirements (MAB)||Zero|
|Debit Card Offered||The customer has to select the debit card variant at the time of application.|
|Interest Rate||4% per annum on daily balance|
Services Offered with IDBI Pension Savings Account
The following services are provided with IDBI Pension Savings Account.
|Passbook and e-Statements||Passbook is offered free of cost. Quarterly e-Statements are sent to the account holder’s email id at no extra cost. Daily and weekly e-Statements are sent to the customer’s mail address at a nominal charge of Rs. 5 per statement|
|SMS Alerts||SMS Alerts are offered free of cost.|
First year of account opening - 60 cheque leaves free
All subsequent years - 50 cheque leaves free
|Cash Withdrawal||Other Bank ATMs - 3 transactions (financial and non - financial) 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)|
|Internet Banking||Net Banking facilities are provided at no extra cost.|
Features of IDBI Pension Savings Account
Given below are some of the features and benefits that accompany IDBI Pension Savings Account.
|Online Bill Payments||IDBI Pension Savings Account holders can use Net Banking facility to pay their utility bills and taxes online without any hassles.|
|Cheque Book||IDBI Pension Savings Account customers will get personalized multi city cheque book.|
|No charges for non-maintenance of MAB||Account holders will not be penalized for non-maintenance of Minimum Average Balance.|
|Value Added Services||Customers can benefit from “Banking on the move”, travel & gift solutions and easy banking facilities which will be offered with the account.|
|Easy Fund Transfer Facility||IDBI Pension Savings Account holders can log onto their Net Banking account to transfer funds without any hassles.|
|International Debit Card||IDBI Pension Savings Account customers get international ATM cum Debit Card. This debit card can be used at merchant partner stores across the globe.|
Fees and Charges for IDBI Pension Savings Account
|Service / Product||Fees & Charges|
|Demand Draft Charges at Branch and non branch locations||Rs. 3 per Rs.1000 and part thereof|
|Any branch cheque deposits||Free|
|Annual Fee for Debit cum ATM Card||Rs. 220 from second year onwards|
|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.|
|Duplicate Passbook||Rs. 100|
|Interest Certificate||Offered free of cost for ITR purpose (once a year) and Rs. 100 for additional interest certificate for other purposes|
|Point of Sale Limit||Rs. 25,000 per day|
|Transactions at other bank ATMs||3 transactions free per month at metro locations and 5 free transactions at non-metro locations and thereafter, Rs. 8 and Rs. 20 will be charged for non-financial and financial transactions respectively.|
|Online VISA Card Remittance Charges||Rs. 5 per transaction including service tax|
|Account Closure Charges||
Within 14 days - Nil
Over 14 days to up to 1 year - Rs. 100
Beyond 1 year - Nil
|NEFT through Net Banking||Free|
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