IDBI Bank offers a plethora of options when it comes to savings accounts, i.e. a total of 10 in number, along with the Capital Gain Account Scheme. All these accounts offer competitive IDBI savings account interest rates. You can find different options for women, children and senior citizens as well. Let’s know about the same in detail.
IDBI Savings Account Interest Rate, 2023
Account Balance | Rate of Interest (per annum) |
Up to Rs 5 crores | 3.00% |
Above Rs 5 crores to Rs 100 crores | 3.25% |
Above Rs 100 crores | 3.50% |
Disclaimer: The above-mentioned IDBI Bank savings account interest rates are effective from 1st August 2022 and are subject to change.
How to Open an IDBI Savings Account Online?
To open an IDBI Bank savings account online, the following-mentioned steps must be adhered to:
Step 1: Go to IDBI website and click on ‘Open an Account’ at the top right corner
Step 2: Click on Video KYC Link or scan the QR code.
Step 3: Read and confirm the declarations to proceed.
Step 4: Click on Continue.
Step 5: Provide your Title (Mr, Mrs, Miss).
Step 6: Type in your First, Middle (optional) and Last Name.
Step 7: Give your Email ID and Mobile Number.
Step 8: Give consent to link your mobile number to the account that will be created now.
Step 9: As soon as you give all the details, ‘Continue’ button will pop. Click on it.
Step 10: Give the OTP that you just received on your mobile number and click on validate and then hit the ‘Continue’ button.
Step 11: follow the same step for email ID validation and Continue.
Now, after this, you must receive a call from the bank’s official or get a link to start video KYC. Whichever be the case, be ready with your KYC documents to complete the account opening hassle-free.
Who Can Open an IDBI Savings Account Online?
The following details must be met in order to open a savings account in IDBI Bank:
- Indian citizen and a tax resident of India and no other count
- Older than 18 years of age
- Not a politically exposed person
- Must have PAN Card
- Must be authorized to provide the personal details presented
Documents Required to Open an IDBI Savings Account
The following documents must be furnished to open an IDBI savings account:
- PAN Card
- Aadhaar Card (if opening online or wish to avail of government schemes and/or subsidies)
- ID Proof (Aadhaar Card, PAN Card, Driving License, etc.)
- Address Proof (Aadhaar Card, Voter’s ID Card, DL, Ration Card, utility bills, etc.)
- Passport-sized recent photograph in colour
- Signature on a white paper (for video KYC)
Types of IDBI Savings Accounts
The following mentioned are the types of savings accounts offered by IDBI Bank:
IDBI Small Account (Relaxed KYC)
- Can be opened by any Indian citizen of 18 years of age or more
- Can be opened even if KYC documents are not complete
- Can be opened with zero balance
- No minimum balance requirement
- Free domestic debit card
- Free SMS & Email alerts on transactions
- Free monthly bank statement via Email
IDBI Basic Savings Account (Complete KYC)
- Can be opened by any Indian citizen of 18 years of age or more
- Complete KYC documents required
- No minimum balance requirement
- Free international debit cum ATM card
- Complementary phone banking, SMS banking & internet banking services enabled
- Free SMS & Email alerts on transactions
- Free monthly bank statement via Email
IDBI Super Savings Account
- Minimum Average Balance (MAB):
- Metro & Urban Branches: Rs 5000
- Semi-Urban Branches: Rs 2,500
- Rural Branches: Rs 500
- 3% interest credited quarterly
- Account statement sent every July, October, January and April
- Cash withdrawal/deposit: Rs 50,000 per day – at any branch
- Cash withdrawal: Rs 25,000 per day – at any ATM
- International debit cum ATM card offered
There is another variant of this savings account – IDBI Super Savings Plus Account. This account has the same features and benefits as per the bank website. For more information, please contact IDBI Bank customer care.
IDBI Super Shakti Women Account
- For women residents of India (of 18 years or more age)
- Complementary two zero balance accounts for her children of less than 18 years of age
- Minimum Average Balance:
- Metro & Urban Branches: Rs 5000
- Semi-Urban Branches: Rs 2,500
- Rural Branches: Rs 500
- Auto sweep-out/in facility to FD (for balance above Rs 15,000)
- Specially designed women’s global debit cum ATM card
- ATM cash withdrawal limit: Rs 40,000 per day
- Personalised cheque book
- Up to 15% discount on lockers
- 50% discount on opening Demat account
- Free 5 transactions in other bank ATMs
IDBI Jubilee Plus Senior Citizen Account
- For Indian citizens of 60 years of age or more
- Zero balance savings account
- Auto sweep-out/in facility to FD (for balance above Rs 15,000)
- ATM cash withdrawal limit: Rs 50,000 per day
- Free 5 transactions in other bank ATMs
IDBI Being Me Account
- Account opening balance: Rs 2,500
- Preferential interest rates on education loan
- ATM cash withdrawal ad POS limit: Rs 25,000 per day
- No charges for non-maintenance for minimum avg. balance
- Training provided on financial planning
- Discounted charges for opening of share trading account with ICMS
- Passbook on request
- Free 5 transactions in other bank ATMs
IDBI Power Kids Account
- For minors of age less than 18 years
- Can be opened under the guardianship of parents of legal guardian
- Single holding capacity
- Minimum average balance (MAB): Rs 500
- No charges if MAB not met
- Complementary Kids ATM card
- Withdrawal limit: Rs 2,000 per day (ATM and POS)
- Personalised cheque book
- Free passbook
- Free insurance cover of Rs 2 lakhs (on death of guardian)
IDBI Pension Savings Account
- For central government employees
- Pay your bills or taxes online
- Money growth at attractive interest rates
- Global debit card
- Value Added Services offered
- Zero balance account
- Zero charges on non-maintenance of MAB
- Personalised multi-city cheque book
- Free 5 transactions in other bank ATM
IDBI Bank Savings Account Customer Care
The below-mentioned are the IDBI Bank toll-free customer care numbers that can be used for anything related to the bank’s savings account:
1800-209-4324
1800-22-1070 (24×7 availability)
IDBI Bank Savings Account: Fund Transfer Process
The below-mentioned are the steps to transfer funds from your savings account online using the IDBI Bank netbanking option:
Step 1: Login to your IDBI netbanking account.
Step 2: Under the Main Menu, click on Make Payments and choose any of the following options: Own Account, Other IDBI Account, NEFT/RTGS or IMPS Payment (refer below image)
Step 3: Enter details like your account (debit), beneficiary name from the list of added beneficiaries, amount, frequency type, transaction date, network, transaction purpose and remarks.
Step 4: Review the details added and click on Continue.
Step 5: Enter the OTP and transaction password. Click on Submit.
Your payment will be complete and you will receive a confirmation message, SMS and an E-mail as well.
IDBI Bank Savings Account Facilities
The following are the banking facilities offered in an IDBI savings account:
- SMS Banking
- Internet Banking
- Mobile Banking
- Balance check via call or SMS
- Mini statement via SMS, mobile banking and netbanking
- NEFT fund transfer (online and at the bank using NEFT form)
- RTGS transfers (minimum Rs 2 lakhs)
- IMPS payments (mobile banking/netbanking plus at-the branch)
- UPI payments (only online)
- Fund transfers via cheque and demand draft
IDBI Bank Savings Account: FAQs
There are various types of savings accounts in IDBI with varied balance requirements. You can open a zero balance account with IDBI Small Savings Account and also open a Super Savings Account with AMB of Rs 5,000; with other options as well.
Yes, IDBI Basic Savings Account can be opened with zero balance and also there is no minimum balance requirement.
Yes. An Indian citizen and a tax resident of India of min. 18 years old can online open a savings account with IDBI Bank.
KYC is required but the norms are relaxed when opening an IDBI Small Savings Account. Anyone can open this account with zero balance.
IDBI Super Savings Account requires you to maintain an Average Monthly Balance of Rs 5,000.
Yes, a zero balance account also comes with a debit cum ATM card which can be used for cash withdrawals, balance checks, payments at POS and more.