Opening a saving bank account is considered the most preferable saving options because it provides the customer the assurance and even the convenience to have access to their savings at any given time, usually focusing on investment options like the stock market, mutual funds, or any other sources of investment takes a considerable period of time. However, not so in the case of the saving account, since the Digitalization the banking sector has taken a drastic and dynamic change in a sense of saving account, you can open an account in less than 5 minutes sometimes even less, well in this blog we will be focusing on one of the saving accounts of a bank named IDFC First Bank Everything You Need To Know
Well, I have written about a various post about opening a saving account in our previous it may be about Kotak 811, Bandhan Bank, and a few more, but all those banks had one thing in common that is zero balance maintains, However, the bank we are discussing today may not be a zero balance account is definitely worth considering your time.
IDFC First Bank Account:
IDFC First Bank is a merger between the two different financial entity IDFC Bank and Capital First( financial institution) is an Indian Banking company its headquarters is located in Mumbai.
The IDFC First Bank received the Licence from the RBI reserve bank of India for universal banking in July 2015, and the bank entered into the stock market with an IPO on 6 November 2015 in both NSE and BSE.
However, the bank started operation on 19 October 2015. Initially, the bank had 23 branches in Madhya Pradesh, Delhi, Mumbai, Hyderabad, Bengaluru, and other various parts of the country. And then another 15 new branches were to set on to open in their area wherein the population of 10000 people.
In 2018 January, IDFC Bank was Merged with Capital First, then the shareholders of Captial first were issued with 13.9 shares for every 1 share, then the bank started operating as IDFC First Bank as one since 2018.
As of March 2020, the IDFC bank has 619 in 28 states/union territories of India, more than 20,000+ employees.
How to open an online saving account in IDFC First Bank:
As mentioned above due to Digitalization, open an account is very easy, to open an account you may not even require to provide physical documents and not even have to visit the branch.
Step 1: Firstly, Visit the official website of the bank or Click Here.
Step 2: Then Register your Mobile number and email verification process. you can continue or request to send a banking executive, the executive will come to your place and open your account no need to go out.
Step3: Finally once you fill the minimum requirement to your account will be open in less than 5 minutes. After which you will be provided with an instant account number that can be used to make the transition, you can download the IDFC Bank app to make transactions wherein the net banking facility is provided for free.
Features and Benefits of IDFC First Bank:
The IDFC First Bank has various features and benefits below provided is the list as follows:
- Time-saving you open your account by just doing a KYC with your Aadhaar card
- Customer can withdraw the money with any bank ATM machine
- The customer gets a free VISA Signature Debit Card with 2 days of opening an account.
- The Bank has the highest rate of interest compared to various other banks up to 7%.
- A customer receives the Flat 10% Cashback on 1st POS transaction above Rs 1000
- The bank provides free Insurance to their customer not only that the but also purchase protection up to 1,00,000 rs.
- By opening a saving account in IDFC First Bank and get up to 40% extra benefits*
Documents required to open an IDFC Savings Account
However, you can open the account online but you need the following documents to open a hassle-free:
- Identity Proof: like passport, PAn Card, Voter ID, Drivers license or AAdhaar Card.
- An Address Proof
- A recent passport size photograph of the account holder.
Eligibility for opening an account in IDFC:
- The person has to be a citizen of Indian.
- He/she has to maintain an Average Minimum Balance of Rs.25000
Interest Rate of IDFC First Bank Savings Account
|Daily Balance||Rate of Interest(% pa)|
|Balance up to Rs.1 lakh||6.00%|
|Balance of more than Rs.1 lakh but less than Rs.1 crore||7.00%|
Fees & Charges of IDFC First Bank:
|Replacement of Cheque Book||Rs. 50 for each checkbook|
|Demand Draft (DD)||Rs. 30 per DD|
|Re-issue of Debit Card||Rs. 100|
|Annual Debit Card Maintains charges||Rs. 100 Annually|
|Charges for ATM Transaction||The first 5 ATM transactions are for Free, However, Rs. 20 + taxes for every ATM cash withdrawal|
Idfc Bank Customer care no:
Idfc First Bank customer care number 1800 419 4332
IdfcBank customer care number for the loan department 1860 500 9900
Idfc Bank customer care number for Rural Banking 1800 419 8332 and
For any of the queries regarding credit card Idfc Bank customer care no 1860 500 1111
Idfc first bank share price:
As mentioned above the bank has entered into the stock market as of 2015, and is performing consistent Idfc first bank share price 60.45 as of today( 22nd, march 2021), click here to know the latest price Idfc first bank share price.
In Conclusion, to summarize the above topic “IDFC First Bank Everything You Need To Know” we have not only covered How to open an online saving account in IDFC First Bank Online, but also the Features, and Benefits of IDFC First Bank, Documents required, Eligibility, Fees & Charges and Idfc Bank Customer care no in sum Etc. To know more in brief visit the Offical page of IDFC Bank or visit your nearest branch.
[ Read More: How To Open Fincare 101 Saving Account online ]
[ Read More: Bandhan Bank Zero Balance Savings Account ]
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