How to Open IDFC Zero Balance Account

If you are thinking of opening your savings account in IDFC Bank, then this can be a very profitable deal for you. Because IDFC Bank is now offering up to 6% to its customers. High Interest And IDFC Zero Balance Account Opening Giving you a chance, along with that you get many more benefits –

  • ₹6 lakhs Purchase limit & ₹2 lakhs daily ATM withdrawal limit
  • Monthly Interest Credit on your Savings Accounts
  • Free & Unlimited ATM Withdrawals
  • Free general banking services
  • VISA Signature Debit Card

Also you can apply online for Saving Account with very few documents and can open account very easily.

But if you are looking for a better savings account than this, then you are in India. Best Saving Account List Which along with High Interest also provide other benefits.

#1 IDFC Savings Account Apply Online

Interesting Post How To Earn 9% On Saving Account

To open a savings account in IDRC Bank, you can open the account either online or by going to the bank (Offline). The process to apply online is given below –

1 Step – you first idfcfirstbank to go to the website. Where you have to enter mobile number, email id and aadhaar number – Send OTP to click on.

2 Step , After verifying the OPT, you will go to the next page, where you will have to enter your personal details and select the account type. In which you can choose Basic Savings Account or Zero Balance Account.

3 Step , This step will come only if you have selected any other account instead of zero balance. In this you have to submit IDFC Minimum Balance, whose information is given below. You can do this amount through your Debit Card or Net Banking.

4 Step , In the end, you have to complete a video KYC along with your documents. After which your account will be opened and further information will be given to you by the bank employee.

Read – Best Apps to Transfer Money

#2 IDFC Eligibility & Documents

Talk about that to open an account in IDFC, you must be Indian citizens and Indian residents. Along with this, you will need the following documents –

  • PAN Card|
  • Aadhar Card|
  • Register Mobile Number.
  • 2 passport size photographs.
  • You must be below 18 years of age for Basic Account.

In the document, you can also use the following documents as ID Proof and Address Proof –

  • Passport
  • Voter’s ID
  • Driving License
  • Job Card Issued By NREGA
  • Letter Issued By The National Population Register

You will have to enter the details of all these documents on the online application and finally the video will have to be shown during KYC. While opening an offline account by going to the bank, you will have to attach it with the form.

Open Bank Account Post –

#3 Minimum Balance & Charge

Now let’s talk about IDFC Saving Account Minimum Balance, then if you take Signature Debit Card, then the minimum balance will be around 25,000 whereas if you take Classic Debit Card it will be 10,000.

If you do not maintain, you may have to pay some charges like this –

Charges on Not Maintaining Minimum Balance – 25000

  • On balance of 25000 to 20000 – 50/-
  • On balance of 20000 to 15000 – 100/-
  • On balance of 15000 to 10000 – 150/-
  • On balance of 10000 to 5000 – 200/-
  • On balance below 5000 – 400/-

Charges on Not Maintaining Minimum Balance – 10000

  • On balance of 10000 to 7500 – 50/-
  • On balance of 7500 to 5000 – 250/-
  • On balance below 5000 – 500/-

If your balance is less than the Minimum Requirement (25,000 or 10000), then the bank will deduct the charges on the following transactions to calculate its cost. Although all these transactions are free, but due to not being able to keep the minimum balance only, you will have to pay them –

Re-issue of Check Book ₹50 per check book
DD payable at branch locations ₹30
Replacement of Debit Card ₹100
Annual Debit Card Fees ₹100
ATM Transaction Charge at any ATM in India(For Regular & Senior Citizen Account) Financial Transactions: 5 Free, 6th onwards ₹20 + taxes Non Financial Transactions: Free & Unlimited.
Other Bank ATM – Financial & Non Financial Transaction: 5 Free, 6th onwards ₹20 + taxes for Financial & ₹8 + taxes for Non Financial

Also Check – How to get instant loan from mobile?

#4 IDFC Account Interest Rate

According to the new guidelines of RBI, the new interest rate of IDFC Bank has been implemented from April 1 and in which the interest will be calculated on the balance which will remain in the customer’s account at the end of the day.

  • 4% interest rate on balances up to 1 lakh.
  • 4.5% interest rate on balances from 1 lakh to 10 lakh.
  • 5% interest rate on balance of 10 lakhs to 25 lakhs.
  • 6% interest rate on the balance of 25 lakh to 1 crore.
  • 5% interest rate will be charged on 1 crore to 100 crore.

This is a bit confusing but I understand you in a simple way. Suppose the bank gives you interest at the end of the year and you opened the account by depositing Rs 50000 in the bank on 1st January. For the next one year, you did 4 transactions in which 20000 was withdrawn on 1st April, 150000 deposited on 1st June, 70000 on 1st September and 20000 on 1st December.

IDFC Bank Interest Calculator In this way, your interest for the whole year will be made. 4262 Rs.

  • 50000*4%(3/12) = 500/-
  • 300004%(2/12) = 200/-
  • 180000*4.5%(3/12)=2025/-
  • 110000*4.5%(3/12) = 1237/-
  • 90000*4%(1/12) = 300

So in this way interest will be credited to your account.

check balance by mobile number – in just under a minute (offline)

#5 Type of Bank Accounts in IDFC Bank

You can open 9 types of accounts in IDFC Bank –

  1. Savings Account (6%)
  2. Corporate Salary Account (Zero Balance)
  3. Senior Citizen Savings Account
  4. FIRST POWER (For Women)
  5. Minor’s Savings Account (6%)
  6. NRI Savings Account (Worldwide)
  7. Health FIRST Savings Account (+ 10 Lakh Insurance)
  8. Future FIRST Savings Account (For Student)
  9. Vishesh Savings Account (5000 Minimum Balance)
  10. Pratham Savings Account (Zero Balance)
  11. Honor FIRST Defense Account (For Army)
  12. Salary Booster Account

to go- How to Calculate Your Loan EMI?

#6 Contact Details of IDFC Bank

For any assistance and inquiry you can call on the number given below. Or you can also ask us your questions in the Comment Box –

Product Numbers to Connect
CASA, Deposits and other accounts 1800 419 4332
Loans 1860 500 9900
Rural Banking 1800 419 8332
NRI Number (Only for CASA, Deposit account holders) 022 6248 5152
credit card 1860 500 1111

Can I also open a Zero Balance Account in IDFC Bank?

yes| You can open Joint or Single Zero Balance Savings Account with IDFC Pratham Savings.

How much interest does IDFC pay on its Savings Account?

The interest rate is around 4% to 6% depending on the amount deposited by you.

Can I apply online to open an account in IDFC Bank?

yes| You can apply completely online. For this, you have to go to the bank’s website and fill a form and attach the documents. After which finally your account will be opened after Video KYC.

What is the minimum balance to be kept in IDFC Bank?

It is 25,000 or 10000 on Basic Saving Account. Whereas on zero balance account you do not need to maintain any minimum balance.

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