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Savings Account

Our Savings Account is designed to meet your individual needs. We understand the importance of saving for the future, for you and your loved ones. That’s why, IDFC FIRST Bank Savings Account offers one of the best interest rates of up to 6.75%. You can save more, do more, and live life to the fullest.Read More

All this is just moments away because you can open an account online in minutes with amazing benefits. Some of the many features and benefits of the IDFC FIRST Bank savings account includes higher POS limits, free and unlimited ATM transactions, and other benefits. Open an account online with IDFC FIRST Bank today and start earning more on your savingsRead Less

Savings Account Interest rates

₹35 lakhs free personal accident insurance cover | ₹1 Cr free air accident insurance cover

Interest up to 6.75%

Open Account Now *View Interest Rates

Savings Account Interest Simulator

Choose account balance

1L 2cr

Choose your existing bank interest rate

2.5 % 6 %

Simulation Results(for a period of 1 year):

* Interest you earn with IDFC FIRST Bank –

** Interest you earn with your Bank –

Additional Interest you earn with us –

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* Interest calculated on progressive balances in each interest rate slab, as applicable
** Interest calculated on flat rate basis

  • Pitruprasad Dash
    Pitruprasad Dash

    “Recently I opened a savings account with IDFC FIRST Bank. Firstly, in terms of the process to open savings account, it is truly hassle-free. Thanks for being ahead in terms of customer satisfaction and banking services, making it easy for new customers like me. I wish IDFC FIRST Bank a great future and looking forward to a long term association.”

  • Sougata Das
    Sougata Das

    “I recently opened a Savings Account with IDFC FIRST Bank, and I must tell you that I'm really happy with the features and benefits offered by the bank. The netbanking services are quite advance which makes the process easy. Also, the IDFC FIRST Bank employees are cordial and helpful, making the overall experience a pleasant one.”

Visa Sing Alt,Visa Sing Alt, Visa Class Alt,Visa Class Alt,

VISA Platinum Debit Card with ₹25K average monthly balance

  • Free and unlimited ATM transactions: at any bank, anywhere in India
  • Higher daily purchase limit of ₹6 lakh and higher daily ATM withdrawal limit of ₹2 lakh
  • Complimentary domestic airport lounge access, once every quarter
  • Free Personal Accident Insurance Cover of Rs. 35 lakhs and Air Accident Insurance Cover of Rs. 1 crore
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Visa Sing Alt,Visa Sing Alt, Visa Class Alt,Visa Class Alt,

VISA Classic Debit Card with ₹10K Average Monthly Balance

  • Daily ATM cash withdrawal limit of ₹1 lakh and higher purchase limit of ₹4 lakhs
  • Free and unlimited ATM transactions at any bank, anywhere in India
  • Free Personal Accident Insurance Cover of ₹5 lakhs and Air Accident Insurance Cover of ₹30 lakhs
  • Lost card liability protection of up to ₹4 lakhs
  • Purchase Protection of up to ₹50,000
Open Account Now
Visa Sing Alt,Visa Sing Alt, Visa Class Alt,Visa Class Alt,
Digital Bank Account Digital Bank Account

Experience a Mobile Banking revolution

Track spends, earn rewards, check your risk profile, invest in Mutual Funds in a click, experience Google-like search, cash flow analysis
Download IDFC First Bank MobileBanking App on App Store

The on-boarding vouchers/benefits offered in the first 30 days post Account opening have been discontinued w.e.f .1st July'22

Monthly Interest Credit on your Savings Accounts

  • Earn interest on interest with IDFC FIRST Bank
  • Monthly interest credits versus the industry norm of quarterly interest credit

 

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Savings Account

ELIGIBILITY

Who Can Apply?

  • Indian citizens
  • Residents of India
  • Foreign nationals residing in India and meeting GOI criteria

Documentation

For Digital Bank Account Opening:

  • Aadhaar Number
  • PAN number

For Physical Bank Account Opening:

  • Passport-size photograph
  • If you have a PAN Card, it is mandatory to provide it while opening your account
  • Any one of the following document:

    - Aadhaar Card

    - Passport

    - Voter’s Identity Card (Election Card)

    - Permanent and valid driving license with photograph

    - Job Card issued by NREGA duly signed by an officer of the State Government

    - Letter issued by the National Population Register containing details of name and address.

Savings Account Eligibility

Open Savings Account Online

Follow the steps given below to open account online with IDFC FIRST Bank:

Step-1: Go to the account opening link

Step-2: Provide personal details – Mobile number, Aadhaar number or VID number, PAN number, Email address 

Step-3:  Fill in your professional details and select savings account variant 

Step-4: Your account is ready & you can start enjoying power packed benefits 

Step-5: Fund your account online & enjoy monthly interest credit with higher interest rate upto 6.75%

Step-6: Complete your Video KYC now to remove transaction restrictions

FEES & CHARGES

Find out about our minimal and transparent fees & charges

View Fees & Charges

Savings Account Charges

FREQUENTLY ASKED QUESTIONS

What is a Savings Account?

A Savings Account is a financial tool offered by banks to help save money, and earn interest on the same. Since you have 24x7 access to your savings account, you can deposit your money anytime and withdraw it whenever you need funds, making it a completely liquid savings instrument. In addition, an IDFC FIRST Bank Savings Account helps you earn interest every month which can help you cover your daily, weekly, and monthly expenses and help you in your journey of wealth creation.

How does the monthly interest credit for savings account work?

For the convenience of our customers, the Bank credits interest to customer’s accounts on a monthly basis. The earlier facility of interest credit on quarterly basis on savings account has been discontinued from June 30, 2021. The Bank is among the few in the industry to offer monthly interest credit on savings accounts.

How to Open Instant Savings Bank Account Online?

You can open a savings account online in minutes by clicking on the ‘Open Account Now’ button on the IDFC FIRST Bank official website. You can check latest updates regarding eligibility and fees here: Savings Account Fees & Charges | IDFC FIRST Bank

What are the different types of Online Savings Account?

• Savings Account with ₹10,000 average monthly balance.

• Savings Account with ₹25,000 average monthly balance.

  Click here to open an account online.

How can one choose the best savings bank account?

Choose and compare Accounts offered by retail banks based on the best interest rates, terms and conditions and services offered. The IDFC FIRST Bank offers industry-best interest rates of up to 6.75%. So, you can save more, do more, and live life to the fullest.

What is the frequency of interest pay-out?

IDFC FIRST Bank credits interest monthly in your Savings Account, and is one of the first universal banks to do so as compared to the quarterly interest credit by most major banks. Hence you get interest on interest and earn more with the power of monthly compounding.

What is the initial pay-in amount required for opening your IDFC FIRST Bank Savings Account?

A minimum amount of ₹25,000 or ₹10,000  is required to open a savings account online with IDFC FIRST Bank. You can choose to open a savings account with higher amount to get better interest earned.

What is the minimum account balance required to be maintained monthly in the IDFC FIRST Bank Savings Account?

The average monthly balance (AMB) with IDFC FIRST Bank required is as follows depending on the variant:
 

· ₹25,000 AMB OR

· ₹10,000 AMB

Please click here to see the applicable Schedule of Charges.

How is the average monthly balance calculated of my savings account?

Every day, from the 1st to the end of the month, we take the balance in your savings account at the end of the day. We total them all up and divide by the number of days in the month. That’s it!

What are the charges levied for non-maintenance of the average monthly balance of the savings account?

Nominal non-maintenance charges are levied for not maintaining average monthly balance on your savings account. Click here to know more about the applicable non-maintenance charges on your Savings Account.

What are the modes through which one can track IDFC FIRST Bank Savings Account?

Being one of the leading banks for savings accounts in India, we offer multiple methods to track your IDFC FIRST Bank Savings Account. Here are a few ways:

Mobile Banking, Mobile App, Internet banking, WhatsApp and we send monthly email statements to your registered email ID. 

 

How can I learn more about my IDFC FIRST Bank 6.75% interest savings account?

IDFC FIRST Bank's Savings Account is our testament to putting our customers first. We offer up to 6.75% p.a interest rates on savings account.

What's more, you earn this interest on progressive balances in each interest rate slab, as applicable. That means you earn every single day. We pay out this interest every month.

Hurry! Make the most of this unique opportunity. Click here to know more.

Please note that savings account interest rates are subject to periodic change.

More FAQs

Savings Account Blogs

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A high-interest savings account helps earn interest income and offers a host of benefits, including internet banking, automatic bill payments, and investment opportunities. Learn more about the 10 must-have features in a savings account.

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