The IDBI Bank has carefully created the following types of savings account in order to make a better fit for the potential account holders. The types of savings bank account are:
A. Super Savings Account
The Super Savings Account provides you convenience of banking so that you are able to access your money easily.
Features of the Super Savings Account:
- Monthly Average Balance is applicable. An average balance of Rs.500, Rs.2500 and Rs.5,000 needs to be maintained for Rural, Semi Urban, and Urban Areas.
- Customers can opt for an International Debit cum ATM Card
- Free five ATM transactions at other Bank ATMs at Non Metro Locations
- A Demat Account can be opened with a Super Savings Account.
B. Small Account (Relaxed KYC)
IDBI Bank has introduced the Small Account which is a zero balance account with a relaxed KYC procedure. It is a savings account that’s meant for everyone. This is IDBI’s first Zero Balance account for inclusive banking and to bring a larger population in the formal banking system.
Features of the Small Bank Account are:
- Free Debit cum ATM card
- SMS & Email Alerts for any transaction in your account
- Free consolidated monthly account statements through E-mail
- Value added services like Phone Banking, SMS Banking and Online Banking
- It is a Savings Bank Account product that doesn’t require a minimum balance and through which IDBI Bank intends to extend its services to a vast section of population for Financial Inclusion.
C. Sabka Basic Savings Account (Complete KYC)
The primary difference between the IDBI Bank Sabka Basic Savings Account (Complete KYC) and the IDBI Bank Small Account (Relaxed KYC) is that the debit card of the Sabka Basic Savings Account is an International Debit Card.
Features of IDBI Bank Sabka Basic Savings Account are:
- Zero Balance Savings Accounts
- Free International Debit cum ATM card
- SMS & Email Alerts for any transaction in the account
- Free consolidated monthly account statements through E-mail
D. Senior Citizen Account
IDBI Bank has brought to the senior citizens an account that can facilitate your banking transactions with hosts of facilities catering to the needs of the customer.
Features of IDBI Bank Jubilee Plus (Senior Citizens) Account are:
- It is a zero balance sponsor account
- 25% discount on lockers charges
- Sweep In/Out FD option available for balance above Rs. 15,000
- Higher ATM cash withdrawal Limits – Rs. 50,000 per day
- Free ten transactions at ATM’s of other Banks
E. SuperShakti Women Account
IDBI Bank has introduced a special savings account for women, which we have coined as SuperShakti women account. Along with this, IDBI Bank are also offering a zero balance savings account absolutely free for her child below the age of eighteen years.
- Two free accounts for their children below the age of eighteen years
- Faster transfer of funds
- Online options to pay your bills or to pay your taxes
F. Being Me Account
“Being Me” savings account is a specially designed product for today’s youth. The objective is to establish a bond with the Youth and help them to inculcate financial discipline.
Key features and benefits of “Being Me” Account
- Preferential rate on educational loan
- Training on financial planning
- Discounted charges for opening of share trading account with ICMS (IDBI Capital Markets and Securities Ltd)
- Account opening Amount – Rs. 2,500
- No charges for non-maintenance of Monthly Average Balance
- Exclusive designed Debit cum ATM Card
- ATM cash withdrawal limit and Point of Sale limit through “Being Me” card is Rs. 25,000 per day
- Free five ATM transactions at other Bank ATMs at Non Metro Locations
G. Power Kids Account
It is a piggy bank for kids that will not just keep their money safe but are provided an interest on the same, allowing them to take out money as and when is required, make smart purchases by way of an exclusive debit card and teach them to operate their account in a better and convenient way.
Kids at a young age can start saving the amount received from their parents/guardian into these account which will not only inculcate the habit of saving but also act as an instrument in guiding them into financial sector.
Features of the Power Kids Account
- Monthly Average Balance of Rs. 500
- No charges for non-maintenance of MAB
- Exclusive designed Kids ATM Card
- Withdrawal limits up to Rs. 2,000 at ATM / POS
- Free five ATM transactions at other Bank ATMs at Non Metro Locations
H. Pension Saving Account
Pension Savings Account has been specially designed keeping the requirements of Central Government employees in mind.
Features of the Pension Savings Account are:
- Zero Balance Account
- No charges for non-maintenance of MAB
- International ATM cum Debit card
- Free five ATM transactions at other Bank ATMs at Non Metro Locations
I. Capital Gain Account
The scheme facilitate investment in order to save Capital Gains tax for the Capital Gains made by selling a capital investment like residential house, flat, shares, family businesses, farm houses, agriculture land etc.
The following people are eligible for this type of account:
- Resident Individuals
- Body of individuals
- Non-individuals like Hindu Undivided family (HUF)
- Sole proprietorship firms
- Partnership firms companies
- An Association of persons etc.
The key features of the Capital Gains Account are:
- Nature of facility: Acceptance of deposits in the form of Savings Deposit or Term Deposit for availing benefit under CGAS, 1988 by the depositor. Thus there will be a Savings Deposit Account created as well as a Term Deposit Account created under the Central Government’s Capital Gains Account Scheme
- The minimum deposit must be Rs. 10,000 and the maximum can be Rs. 1 Crore
- The rate of interest for the Savings Deposit Account is based on the Savings Bank rate as per the RBI Guidelines. The rate of interest for the term deposit is decided as per Asset – Liability Committee (ALCO).
J. The Salary Accounts of IDBI Bank:
IDBI Bank State and Central Government Account offers you an exclusive experience with the premium banking facilities.
The State and Central Government Accounts have been divided based on their Net Monthly Salary as follows:
I. Prime Account:
Net Monthly Salary needs to be between Rs.7,000 and Rs.20,000.
Key benefits of the Prime Account are:
- Multi city at Par cheque books per quarter
- 24×7 conveniences at no charges
- Internet Banking, Mobile Banking and Phone Banking
- Any Branch Banking –cash withdrawal and deposits
II. Star Account:
The account is meant for individuals between Net Monthly Salary between Rs.20,000 and Rs.35,000.
The key benefit of the Star Account is the insurance cover. Individuals can get insurance cover of Rs. 3 lakhs personal accident Insurance and Rs. 50000 purchase protection cover.
III. Crown Account:
Net Monthly Salary should be between Rs.35,000 and Rs.60,000.
The key benefits of the Crown Account are:
- Interest concession on Home Loans, Auto Loans
- Discount on locker facility subject to Average Quarterly Balance is maintained
- Gold Debit Card- Get a free Gold Debit card and set up direct debit for all your expenses
IV. Imperial Account
Net Monthly Salary of the Imperial Account holders should be between Rs.60,000 and Rs.1 lakh.
- Interest concession on Home Loans, Auto Loans
- Electronic Fund Transfers across all branches
- Discount on locker facility subject to Average Quarterly Balance is maintained
- Electronic Fund Transfers facility – RTGS, Card to Card transfer and Fund Transfer services are available with it
V. Pride Salary Account
Pride Salary Account is an account launched for the defence personnel of the country, which has been specially designed keeping their requirements in mind. With this account you can expect banking anywhere, anytime.
Features of the Pride Salary Account:
- Zero Balance Account
- Free International Classic Debit-cum-ATM card
- Demand Drafts and Pay Orders – IDBI Bank provides concession in Demand drafts and pay orders.
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