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Introducing the First-in-industry IDFC FIRST Bank's Super Account
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You gain a dedicated partner committed to helping you reach your full potential and achieve new heights
Know More- Account with Auto-Sweep FD
- Account for all Domestic businesses
- Account for Importers & Exporters
- Account for Start-ups
- Accounts for Trusts/Associations/Societies/Clubs
- Account for Merchants
- Account for Agri Traders
- Account for Self-employed professionals
- Special Purpose Accounts e.g. SNRR, RERA, EEFC
BRAVO (Auto Sweep)
Convert the idle funds in your current account into a fixed deposit with the BRAVO feature.
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Streamline your export process with digital convenience with IDFC FIRST Bank's Export Solutions
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Make more than one online payment in just a few clicks with IDFC FIRST Bank Bulk Payments
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Business Banking Asset Account
Details
| Average Monthly Balance (AMB)* | Trade Throughput (Q) | Non Maintenance charges per month | |
| Business Banking Asset Account | Zero | NA | NA |
| AMB is average of daily closing balance of each day for a month | |||
Transaction Charges
| Cash Deposit Free Limit | Cash deposit -Charge above free limit | DD payable at Correspondent Bank locations | Cheque Bounce | |
| Business Banking Asset Account | 3 times average utilization or 10 times of the Maintained AMB | Rs 3 per 1000 | Rs 30 per DD | Cheque deposited – Rs. 50 per cheque Cheque issued – Rs. 250 per cheque |
Payment Services
| Intra-Bank Fund Transfer - Branch | Free |
| Intra-Bank Fund Transfer -Internet Banking | Free |
| RTGS Payment - Branch | Free |
| RTGS Payment - Internet Banking | Free |
| NEFT Payment - Branch | Free |
| NEFT Payment - Internet Banking | Free |
| IMPS | Free |
| Payable At Par Cheque Issuance | Free |
| DD payable at IDFC FIRST BANK locations | Free |
| DD - Duplicate Issuance | Free |
| DD Cancellation/ revalidation | Free |
Collection Services
| Intra-Bank Fund Transfer Collection | Free |
| RTGS Collection | Free |
| NEFT Collection | Free |
| Cheque Collection - Local Clearing | Free |
| Outstation Cheque Collection - IDFC FIRST BANK locations | Free |
| Outstation Cheque Collection - Correspondent Bank locations | Free |
| Outstation Cheque Collection - Other locations | Free |
Foreign Currency Conversion
| Converted Amount - Upto Rs. 1,00,000 | 0.14% of the gross amount of currency exchanged, subject to the minimum amount of Rs. 35/- and maximum amount of Rs. 7,000/- | |
| Converted Amount -Rs. 1,00,001 - Rs.10,00,000 | Rs. 140 Plus 0.07 % of the gross amount of currency exchanged, subject to the minimum amount of Rs. 35/- and maximum amount of Rs. 7,000/- | |
| Converted Amount -10,00,001 or more | Rs. 770 Plus 0.014% of the gross amount of currency exchanged, subject to the minimum amount of Rs. 35/- and maximum amount of Rs. 7,000/- | |
Other Charges
| Account Statement Physical (Branch/ Channel) | Free |
| Payable at Par Cheque Book | Free |
| Account Closure | Free |
| SMS/ E mail Alerts | Free |
| Phone Banking | Free |
| Net Banking | Free |
| Mobile Banking | Free |
| Standing Instruction- Set Up/Execution/Amendment | Free |
| Bill Payment- Net Banking | Free |
| Bankers Verification (Photo/ Signature/ Address) | Free |
| Balance Confirmation Certificate | Free |
| Record Retreival | Free |
| Interest/ TDS Certificate | Free |
| Stop Payment per Instruction | Free |
| Balance Enquiry (Branch/ Channels) | Free |
| Login Fees | Rs. 5000 |
| Processing Fee | Upto 1% |
| Stamping Charges | At Actuals |
| Issuance of Solvency Certificate | Upto Rs.10000 |
| Stock Audit Charges | Rs.5000 per audit |
| Temporary Over Draft | 4% above sanctioned ROI |
| Adhoc OD setting up fee | 4% above sanctioned ROI |
| Foreclosure Charges / Prepayment Penalty | Upto 2% (Exclusive of GST) on the facility limit granted in case of prepayment through own sources and upto 4% (Exclusive of GST) on the facility limit granted in case of takeover of facility limit by any other bank/FI. Above charges shall not be levied on Micro and Small Enterprises |
Penal Charges
Event |
Applicable Penal Charges |
Non-payment of Interest/principal or any other amount due. |
2% p.a. of overdue amount |
Non-creation of security within timelines |
2% p.a. of outstanding amount |
Non-compliance of sanction covenants |
|
Breach of any other terms and conditions under the facility/loan agreement. |
|
Non-renewal of facility within timelines |
Upto 2% p.a. of outstanding amount |
Applicable taxes shall be levied upon above penal charges.
