IDFC FIRST Bank Savings Account

1. Regular Savings Account

• This is the savings account for general savings purposes.

• People can easily open a regular savings account either by visiting the IDFC FIRST bank branch or online.

• This savings account has many benefits and features. The IDFC FIRST Bank’s savings account has free and unlimited ATM transactions anywhere in India.

• The ATM withdrawal limit is Rs. 2,00,000. The POS (Point of Sale) transaction limit is set to Rs. 6,00,000 per day.

• The account holder of an IDFC FIRST Bank must have a monthly balance of Rs. 25,000.

• The account holder will also get complimentary airport lounge access every quarter. 

2. Senior Citizen Savings Account

•  IDFC FIRST Bank offers savings account for senior citizens. This has many benefits that can help senior citizens in building savings.

• For the convenience of the senior citizens, doorstep banking facility is offered, free of charge.

• The IDFC FIRST Bank savings account for senior citizens can be opened online, making it more convenient for elderly individuals who have difficulty visiting the bank. 

• For accounts that maintain Rs.10,000 have access to a Visa Classic debit card with an ATM withdrawal limit of Rs. 1,00,000.

• Similar to a regular savings account, if your average monthly balance is maintained at Rs.25,000, the account holder has access to a Visa Platinum debit card with free and unlimited ATM transactions anywhere in India.

• The ATM transaction limit for the senior citizens savings account is 2,00,00.

• The POS limitation is set at Rs.6,00,000. Another major feature of the senior citizen savings account is the free personal accident insurance cover of Rs.35,00,000. 

3. IDFC FIRST Corporate Salary Account

• This savings account is specifically for salaried individuals.

• This is a zero-balance account with several notable features that make it a perfect option for individuals to manage their finances effectively.

• There are no charges on fund transfers, and it offers free and unlimited ATM access.

• The account holder can have a Visa Platinum debit card or a Visa Classic debit card. Also, an IDFC FIRST Bank Corporate account can be opened online. 

4. Minor’s Saving Account

IDFC FIRST Bank offers savings accounts for minors with great features. Savings accounts for minors are classified into 2 categories, and they are: 

• Minor Savings Account (Under Guardian): This type of savings account for minors is opened under a guardianship. It offers free and unlimited fund transfers and ATM access at IDFC First Bank ATMs. The Visa debit card is also provided free of cost. 

• FIRST Prodigy (Minor Self-Operating Savings Account): This minor's savings account provides a Visa Platinum debit card with an ATM withdrawal limit of Rs.10,000 and a POS limit set at Rs.10,000. Additionally, it also offers a complimentary domestic lounge facility. 

5. Future FIRST Savings Account

• This is a savings account for students in premium educational institutions.

• There is no minimum balance to maintain in the Future FIRST savings account as it can be opened as a zero-balance account.

• The major highlight of this account is the accident cover of Rs.35 lakh it offers, along with the free airport lounge access and dining deals.

• There is also an air accident cover of Rs. 1 crore. 

6. NRE Savings Account

The IDFC FIRST Bank offers three types of NRE savings accounts. They are: 

• NRE (Non-Resident External) Savings Account: This savings account doesn't charge for transferring funds and has an ATM withdrawal limit of Rs.2,00,000. The POS limit is set at Rs.6,00,000 per day. 

• NRO Savings Account: With the NRO savings account, the account holder’s family members have access to the cheque book. Up to 1 million USD can be repatriated through this account in a year. The ATM withdrawal limit and POS limit are the same as the NRE savings account. 

• Seafarer Account: To open a seafarer account, no minimum balance is needed. The account holder receives the Visa Signature debit card with no annual charges and complimentary airport lounge access twice every quarter. 

How to Open an IDFC FIRST Bank Savings Account Online 

Customers of IDFC FIRST Bank can easily open a savings account without visiting the bank. To open a savings account online, you can follow the steps given below: 

Step 1: Go to the IDFC FIRST Bank official website. 

Step 2: Select ’Accounts’ and click on ‘Savings Account’ 

Step 3: Provide the required details. 

Step 4: Select the type of savings account you want. 

Step 5: Provide the necessary information, and your account will be activated after verification. 

Step 6: You will receive your passbook and debit card once the verification process is completed. 

How to Open an IDFC FIRST Bank Account Offline: 

You can also apply for an IDFC FIRST Savings account by visiting your nearest branch. The steps are as follows: 

Step 1: Visit the nearest IDFC FIRST Bank branch. 

Step 2: Fill out the application form 

Step 3: Provide all necessary details and select the type of savings account that you want. 

Step 4: Submit the application form along with the supporting documents. 

Step 5: Make an initial deposit if it is not a zero-balance account. 

Step 6: After verifying your application and documents, the account will be opened. 

Benefits of IDFC FIRST Savings Accounts 

• The savings accounts of IDFC FIRST Bank offer a good variety of features and benefits.

• They are designed to meet the different needs and wants of customers.

• The focus is on providing good service and assistance to the customers to save their hard-earned money and to help them maintain it effectively.

• The IDFC FIRST Bank offers free ATM access, high transaction limits, and zero-balance savings accounts for customers.

• There are accident covers and free access to airport lounges, and most importantly, the facility to open a savings account online. 

Eligibility Criteria to Open an IDFC First Savings Account 

To open a savings account at the IDFC FIRST Bank, applicants are required to meet some criteria. Note that the eligibility criteria for savings accounts differ for different types of savings accounts. Generally, the eligibility criteria are as follows: 

• The applicant must be a resident of India. 

• The applicant must be an Indian citizen. 

• The applicant can be a foreign national living in India and meet the GOI criteria. 

Documents Needed to Open an IDFC FIRST Savings Account 

To open a savings account at IDFC FIRST Bank, the following documents must be submitted. They are: 

• Aadhaar 

• PAN card 

• Passport-size photographs. 

• Passport and proof of date of birth (if applicable)