IDBI Bank’s Small Account (Relaxed KYC) is a savings account that can be used by anyone as it is elementary in its approach. Also, the account has the feature of Zero Balance account so that banking is completely inclusive.
| Bank | IDBI Bank |
| Category | Small Account (Relaxed KYC) |
| Minimum Balance Requirements (MAB) | Zero Balance requirement. |
| Account Opening Amount | Zero |
| Debit Card Offered | Free Debit cum ATM card |
Services Offered With IDBI Bank Small Account (Relaxed KYC)
| SMS and email Alerts | Customer will receive SMS and email notification for all transactions in the account |
| Internet Banking | Yes |
| Cheque book | Upon request you can avail cheque books which will help you carry out certain banking transactions. |
| Cash Deposit | You will not be charged for cash deposit at any of the branches. |
| Duplicate statement | § Duplicate statement may be sent through Phone banking & ATM, free of cost |
Features of IDBI Bank Small Account (Relaxed KYC)
| Easy Account Management | No need to visit the bank in person for every transaction. There are multiple ways to manage your account otherwise; including SMS Banking, Phone Banking and Internet Banking. |
| Monthly account statements | Consolidated monthly account statements will be sent to you via E-mail |
| Electronic Fund Transfer | Online NEFT transaction will not be charged. NEFT transaction are free from branches up to Rs. 10,000. |
| Cash deposit | Branch (Home & Non-Home Branch) Cash deposit at any branch will not be charged. |
Fees and Charges for IDBI Bank Small Account (Relaxed KYC)
IDBI Bank’s Small Account (Relaxed KYC) comes with minimum charges. Following are the few charges that will be applicable:
| Annual Fee | Free |
| Additional add-on card for the account | Free |
| Replacing a stolen/ lost card | Free |
| IDBI Bank ATM Financial Transaction/ Non Financial | Free |
| Re - generation of Pin/ Copy retrieval | Free |
| Passbook | Passbook can be availed for free. |
| Duplicate Passbook | Free |
| Standing instructions for certificates | Free |
| Demand Drafts (Branch/Non Branch Location)/ Payorder |
5 Transactions Free per month (Both inclusive) Maximum limit is Rs 10,000/- |
| Any Branch Cash withdrawal | Free (up to Rs 10,000/- per day only) |
| Cheque deposited and returned (Local cheque) | Rs. 60 |
| Cheque deposited and returned (Outstation cheque) | Rs.115 |
| Cheque deposited and returned due to Technical reasons (Local or Outstation) | Free |
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.
