If you are intending to open an account to manage your funds efficiently, you will have to do a bit of research on the fees and penalties that the Bank charges for various services and violations. IDBI Bank is very transparent about the charges and penalties levied. The IDBI Bank Charges List is available on the bank’s website. Being aware of the charges will help you manage your funds well and keep away from penalties and maximise your savings.
Established in 1964, IDBI Bank is a public sector bank offering a wide range of financial and non-financial services and products to individuals, corporates, and businesses. Customer delight is the main agenda of the Bank and it strives hard to provide innovative solutions and technological advancements to meet the diverse financial needs of its customers. The Bank has played a significant role in the industrial development and economic growth of the country.
IDBI Bank provides an array of services and products to its customers. The IDBI Bank Charges are diverse and depend on the type of service provided. The IDBI Bank Charges List is available on the Bank’s website for your review. You can understand the fee structure for having financial dealings with the Bank and choose the product that aligns with your banking needs and has a lower fee. Here are some of the common IDBI Bank Charges for your immediate reference.
Account Maintenance Charges
IDBI Bank levies maintenance charges like ledger folio charges, cheque book charges, fees for issuing statements, etc which depend on the type of account you hold with the Bank. These charges cover the operational costs to maintain the accounts.
Debit Card Issue Charges
IDBI Bank Charges List includes charges for issuing personalised debit cards. The bank also provides an additional add-on debit card for each account. The bank collects charges for the issuance of a debit card and the add-on card issued for each account, annual fee from the second year onwards, replacement of stolen/lost cards, Re PIN generation, etc.
The Bank permits unlimited free transactions if the Debit Card is used in the Bank’s ATMs. A limit on the free transactions using other bank ATMs will be stipulated and the usage of the card in non-IDBI Bank ATMs beyond the limit will attract fixed charges for each transaction irrespective of the amount of transaction.
NACH Return Charges
NACH is a mandate submitted for auto-debit towards EMIs of loans availed. NACH Return Charges in IDBI refers to the charges collected by the Bank on the rejection of NACH for insufficient funds.
IDBI Bank applies charges for certain transactions such as cash withdrawals and deposits beyond the free limit, charges for issuing DDs, and funds transfer through NEFT/RTGS/IMPS. All these charges depend on the transaction amount, the channel used and the type of account held by the customer.
Foreign Exchange Charges
The bank levies charges for foreign transactions or forex services. The charges include currency conversion fees, handling charges, inward and outward remittance charges, etc.
Certificate issue Charges
IDBI Bank offers a range of certificates, including interest certificates, balance certificates, and solvency certificates. Interest and balance certificates serve the purpose of filing tax returns, while solvency certificates provide proof of financial stability. While the first issuance of interest and balance certificates is free, charges apply for solvency certificates, varying based on the amount. These charges are in line with the bank’s policy for providing these essential financial documents.
If you are regularly incurring charges that can be very well avoided, the purpose of opening an account to maximise your savings will fail. Follow the tips given below and avoid several charges and watch your money grow.
- Choose a no-frill account or an account with a low minimum balance requirement.
- Always maintain sufficient balance before issuing a cheque and avoid cheque bounce charges.
- Keep track of dates when your bills are due and make funds available on or before the due dates for honouring the standing instructions for the bill payments.
- Make use of the 45-day interest-free period on credit card transactions. Pay the entire credit card liability on the due date and avoid the exorbitant interest charged on the liability.
- Always pay EMIs to loan accounts on the due date to avoid late payment charges and penal interest.
- Limit your cash transactions within the free limit and avoid cash transaction charges.
- Choose digital channels for funds transfer.
- Download e-statements or subscribe for email statements.
- Be aware of your account balance and do not use funds beyond the balance in your account.
IDBI Bank has introduced an array of Savings Account options to inculcate the savings habit among all categories of customers. The bank also has stipulated savings account opening charges depending on the type of account. The list of IDBI Savings accounts along with the charges are given below:
|Type of Account||Account Opening Charges|
|IDBI Super Savings Account||Urban/Metro branches: Rs. 5000 Semi-Urban branches: Rs. 2500 Rural branches: Rs. 500|
|IDBI Bank Small Account||Zero|
|IDBI Bank Sabka Basic Savings Account||Zero|
|IDBI Bank Senior Citizen Account||Zero|
|IDBI Bank Super Shakti Women’s Account||Urban/Metro branches: Rs. 5000 Semi-Urban branches: Rs. 2500 Rural branches: Rs. 500|
|IDBI Bank Being Me Account (For Youth)||Rs. 2500|
|IDBI Bank Power Kids Account||Rs. 500|
|IDBI Bank Pension Savings Account (For Central Govt. Employees)||Zero|
|IDBI Bank Capital Gains Account||Rs. 10000|
|IDBI Bank Central & State Government Salary Account||Zero|
|IDBI Bank Star Salary Account||Zero|
|IDBI Bank Prime Salary Account||Zero|
|IDBI Bank Pride Salary Account||Zero|
|IDBI Bank Indian Army Salary Account||Zero|
|IDBI Bank Indian Navy Salary Account||Zero|
IDBI Bank permits unlimited transactions at ATMs within the Bank’s network. The bank allows 5 free transactions at non-IDBI ATMs. The bank levies charges for each transaction beyond the limit. The charges are:
|Cash Withdrawals (Financial Transactions) beyond the limit||Rs. 20 + GST for each instance|
|Balance Enquiry (Non-Financial Transaction) beyond the limit||Rs.8 + GST for each instance|
The IDBI Bank Demat Account Charges for account maintenance and services offered is given below.
|Annual Maintenance Charges||Rs. 250 + GST for Senior Citizens Rs. 350 + GST for others|
|Freezing / Defreezing||Rs. 100 + GST|
|Remat||Rs. 10 per certificate + GST|
|Demat||Rs. 5 per certificate + GST|
|Demat Mail||Rs. 40 + GST|
|Pledge Creation||0.04% 0f Market Value/Face Value with a minimum of Rs. 50 plus taxes|
|Pledge Closure||0.04% 0f Market Value/Face Value with a minimum of Rs. 50 plus taxes|
|Pledge Invocation||0.04% 0f Market Value/Face Value with a minimum of Rs. 50 plus taxes|
|Off/On Market/Inter Depository Transfer||0.04% 0f Market Value/Face Value with a minimum of Rs. 50 plus taxes|
|Transaction Amount||NEFT Charges (Per Transaction)|
|Up to Rs. 5,000||Free|
|Above Rs. 5,000 to Rs. 10,000||Rs. 2 + GST|
|Above Rs. 10,000 to Rs. 1 lakh||Rs. 5 + GST|
|Above Rs. 1 lakh to Rs. 2 lakhs||Rs. 15 + GST|
|Above Rs. 2 lakhs||Rs. 25 + GST|
RTGS transactions done through Internet Banking/Mobile Banking are exempted from service charges. IDBI customers can take advantage of this privilege. For RTGS transactions routed through the branches, IDBI Bank RTGS Charges depend on the amount and time of the transaction.
|Rs. 2.00 lacs to Rs. 5.00 lacs||Rs. 30 + GST|
|Above Rs. 5.00 lacs||Rs. 55 + GST|
IDBI Bank Charges apply for outward IMPS transactions routed through the branch. The list of IMPS charges is given below. The bank does not apply charges for IMPS transactions routed through online modes.
|Up to Rs. 1000||Nil|
|Above Rs. 1000 up to Rs. 1.00 lac||Rs. 5+ GST|
|Above Rs. 1.00 lac||Rs. 15 + GST|
IDBI Bank Charges : FAQs
The primary benefit of online transactions is they can be done from the comfort of your home and at any time. Online transactions like NEFT/RTGS/IMPS are faster modes of funds transfer. The other advantage is that most of the transactions routed through online modes do not carry service charges.
The bank applies Rs. 50/- per instance for registering standing instructions for funds transfer, payment of EMIs, auto-debit for bill payments, etc
Yes. The Bank charges Rs. 100/- for issuing duplicate interest certificates.
The bank charges Rs. 100 for issuing account statements at the branch, Rs. 100 plus courier charges if the statement has to be sent to the contact address, and Rs. 5/- for statements to the email address.
The ATM cash withdrawal limit stipulated by IDBI Bank is Rs. 25000/- per day.