IDFC First Bank Savings Account

Last Updated : Feb. 15, 2025, 5:56 p.m.

Established in 2018, IDFC First Bank has become a name synonymous with customer-friendly operations. It was formed by the merger of IDFC Bank and Capital First, and it is one of the first banks in India to offer transparent monthly credit on savings accounts and no hidden charges on credit cards, making them a lucrative option across all sectors of society. Headquartered in Mumbai, Maharashtra, IDFC First Bank has 732 ATMs across the country, including Cash Recycler ATMs, and 992 branches in the urban and rural areas offering various financial services including loans, saving accounts, and credit cards. In this article, we will give an overview of the different IDFC First Bank savings account offered by this bank and their characteristics.

IDFC First Bank Savings Account Interest Rate May 2026

Below are the savings account interest rates offered By IDFC Bank savings rates.

Types of IDFC First Bank Savings Accounts

IDFC First Bank is the only bank that gives a monthly interest of up to 7.25% and zero banking fees on IMPS, NEFT, RTGS, and ATM withdrawals.

Basic Savings Account: This account can be opened by any Indian citizen, resident of India, or foreign national living in India.

Monthly interest credits are made in the savings account

• Visa Platinum debit card with a purchase limit of up to 6 lakhs
• ATM withdrawal limit of up to 2 lakhs
• Free and unlimited ATM withdrawal
• Average monthly balance requirement: ₹25000

Corporate Salary Savings Account: Applicable to Indian corporate employees who are working in India or foreign nationals working in India as per the GOI guidelines with valid proof of employment. There are two types of corporate salary savings accounts with IDFC First Bank.

Platinum plus which needs a salary proof of ₹50000/- pm.

Classic Plus for the minimum salary of ₹25000/- pm.

• Unlimited ATM transactions
• Daily POS limit of ₹6 lakhs
• Daily ATM limit of ₹2 lakhs
• 20+ OTT subscriptions with 40+ brand discounts with Times Prime, such as Myntra, Uber, and Starbucks.
• Complimentary personal accident insurance cover of ₹35 lakhs.
• Air accident insurance cover of ₹1 lakhs
• Free access to airport lounges
• 10x reward points

Women’s Savings Account Online - First Power: Applicable to females above the age of 18 who are Indian citizens, residents of India, foreign nationals residing in India and meeting GOI criteria.

• Complimentary health benefits of 1 year with MediBuddy
• ₹35 lakhs free personal accidental insurance
• Unlimited free ATM transactions in any bank across the country with a free First Power Visa Signature Debit Card (₹10,000 AMB)
• Up to 50% discount on 1st year locker rental

Senior Citizen Savings Account: Applicable to people who are above 60 years of age and Indian citizens or residents of India.

• Complimentary health benefits for 1 year with MediBuddy
• Cyber Insurance of up to ₹2 lakhs
• Auto Sweep-out and Sweep-In facility
• Free doorstep banking and priority treatment at all branches
• Better rates on fixed and recurring deposits
• Gain a complimentary Lifetime IHO membership

NRE Savings Account: Applicable for NRIs, PIOs, Overseas Citizens of India, Seafarers employed on international vessels, Oil rig workers in international offshore projects, and students studying in overseas locations.

• Funds are fully repatriable
• Competitive interest rates
• Flexibility in joint account holding
• Internationally accepted debit card
• 27/7 money transfer and customer support
• Mandate holder benefits

NRO Savings Account: Applicable to NRIs, PIOs, OCIs, Seafarers employed on international vessels, and Oil rig workers in international offshore projects.

• Full access to the account even when the customer is overseas through the mobile banking app.
• Funds can be repatriated for up to 1 million US Dollars per financial year.
• Easy mandate facility
• Easy shopping access with Indian merchants
• Good rates for tax deduction at the source
• Seafarer Savings Account: Individuals working on international vessels, merchant navy, cruise liners, and oil rigs are eligible for this account.
• Instant account opening facility
• Free Visa Signature Debit Card with no annual charges
• Rupee-dominated accounts for better interest rates
• High ATM withdrawal and cashback benefits
• Lounge access and flight discounts.

TASC Institutional Account: Savings accounts for Trusts, Associations, Societies, Clubs, Educational institutions, Hospitals, NGOs, Religious Institutions, and housing societies.

Access to revolutionary net banking and mobile banking platforms

• Integrated cash management services
• Secure payment Gateways and POS
• Doorstep banking
• Dynamic Cash Deposit Limits
• Funds transfer across NEFT/RTGS/IMPS
• Bulk uploads
• Dedicated relationship manager

Minor Savings Account: Suitable for children below the age of 18 and parents or guardians who have a savings account with the bank. This is one of the top savings accounts for minors .

• No requirement to maintain an average monthly balance
• Auto-Sweep benefits for saving optimization
• Free unlimited ATM transactions

FIRST Prodigy Savings Account : For Indian citizens and residents between the age of 10-18.

• Monthly interest credits
• Total debt limit of ₹40000
• Self-operated account

Honour FIRST Defence Savings Account: Specially salary account for Indian Armed Forces personnel and veterans.

• Monthly interest credits on savings
• Personal accident insurance covers up to ₹70,000 lakhs.
• Air accident cover of up to ₹1 crore.
• Zero balance savings accounts
• Purchase protection of up to ₹1 lakh
• Free unlimited ATM access in any bank

Nation First Salary accounts: Can be opened by personnel serving in public sector enterprises for central/state government departments in India.

• Personal accidental cover of ₹1 crore
• Zero balance savings account
• Purchase protection of up to ₹1 lakh
• Lounge access across major airports

Auto Sweep Account: Eligible for Indian citizens, residents of India, foreign nationals residing in India, and who meet the GOI criteria.

• Easy Sweep-out and Sweep-in facility
• Free unlimited ATM withdrawals
• Zero charges on all commonly used savings account services

Vishesh saving account: Application to Indian residents and Hindu Undivided Families (HUF)

• Monthly interest on your savings
• Waiver of up to 1% on fuel surcharge
• Rupay Platinum Debit Card with multiple offers
• Online fraud protection
• NEFT and RTGS facility
• Personal Accidental Insurance Cover of ₹2 lakhs

Pratham Savings Account: All Indian citizens and residents are eligible

• Rupay Classic Debit Card benefits
• No hidden charges
• Unlimited ATM transactions
• Interest rates for up to 6.75%
• Mirco- ATM transactions for easy access to money.

IDFC First Bank Savings Account Features & Benefits

IDFC First Bank practices ethical banking and offers many consumer benefits including but not limited to:

• Zero monthly balance with no hidden charges.
• As a part of the technology-led banking initiative, the advanced mobile app with 250+ features.
• Easy online and offline account opening from anywhere.
• Plan your finances and cash flow analysis through the app easily.
• Exclusive discount and cashback on debit cards.
• Seamless and secure digital banking for all transactions.
• Document convenience with electronic statements and free passbooks
• Personal accident insurance coverage
• Easy fun transfer through NEFT, RTGS, IMPS, and UPI.
• Automated bill payment services.

Documents Required for IDFC First Bank Savings Account

Mandatory KYC documents required by IDFC First Bank Savings Account include

Proof of address

• Aadhar card
• Passport
• Driving license
• Electricity bill
• Mobile bill
• Gas connection proof

Proof of identity

• Aadhar card
• PAN card
• Voter ID
• Ration Card
• Apart from these passport-size photos, Form 60, Proof of Employment, HUF certificate and employment cards will be needed as per the savings account type.

IDFC First Bank Savings Account Charges & Fee

Below are the common charges levied by IDFC Bank -

How to open a Savings Account in IDFC First Bank?

IDFC First Bank offers both online and offline options to open savings bank accounts:

Online process

Step 1: Visit the IDFC Bank official website.

Step 2: Go to “Accounts” and select “Savings Account” and “Open Account”

Step 3: Enter all the details as asked on the website.

Step 4: Select the type of saving account

Step 5: Upload the necessary KYC documents as asked as per account type selection

Step 6: Choose the verification method: video KYC or agent visit.

Step 7: Pending verification you will get a notification, essential documents, and a debit card to operate your account.

Offline process

Step 1: Go to the nearest branch

Step 2: Fill out the required application form as provided by the branch.

Step 3: Provide all the self-attested KYC documents

Step 4: Give the form and documents to the nearest branch

Step 5: The bank will verify the information and proceed to open the account and provide the welcome banking kit.