IDBI Jubilee Plus Account for Senior Citizens
IDBI Jubilee Plus Account is a savings account designed for senior citizens, offering higher interest rates, special privileges, and seamless banking services. It provides benefits like free e-statements, discounted locker charges, and enhanced ATM withdrawal limits.
Table of Contents
Overview of IDBI Jubilee Plus Account for Senior Citizens
IDBI Jubilee Plus Account is specially crafted to meet the banking requirements of senior citizens. This IDBI 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.
Bank | IDBI |
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 |
|
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 IDBI 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 |
|
Online VISA Card Remittance Charges | Rs. 5 per transaction including service tax |
Any branch cheque deposits | Free |
FAQs on IDBI Jubilee Plus Account for Senior Citizens
- What is the minimum balance in IDBI senior citizen account?
Here the investment has to be done within a month of receiving the retirement benefits or Retired defense personnel with a minimum age of 50 years. Maximum Deposit of Rs. 30 Lakhs for individual and minimum deposit amount Rs. 1000/- and in multiples of Rs.
- Is senior citizen saving scheme available in IDBI Bank?
One needs to be 60 years or more of age. Applicants need to be 55 years or more but less than 60 years of age in case of superannuation or if they have opted for VRS. Retired Defence Services personnel can opt for this scheme if they are 50 years or more of age.
- What is the Mahila samman saving scheme in IDBI Bank?
According to a recent notification by the Finance Ministry, one can apply for a Mahila Samman Savings Certificate, 2023, in all public sector banks and ICICI Bank, Axis Bank, HDFC Bank Ltd and IDBI Bank. The two-year tenure scheme offers an attractive and fixed interest of 7.5 per cent interest.
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