IDBI Current Account

IDBI Bank offers only one type of current account named Flexi Current Account. This current account variant is made keeping in consideration all the business requirements and financial needs of the individuals. The primary purpose of opening a current account is to carry out all the business transactions instantly and smoothly. IDBI Flexi Current allows the customers to manage bulk transactions and large value payments conveniently. 

IDBI Flexi Current Account

IDBI Flexi Current Account provides a wide range of facilities to the customers, hence focusing on offering the best of services in accordance with the customer’s growing business needs. Below given are some of the major advantages and benefits of IDBI Flexi Current Account.

• Instant and hassle-free account opening: The bank provides instant account opening facilities to the customers. Applying for Flexi Current is absolutely simple. The users can either call on the Phone Banking numbers or visit the nearest IDBI Bank branch for account opening
• Free banking services: The bank offers dynamic free banking facilities to the customers. The services are linked to the monthly average balance maintained and varies every month accordingly
• Doorstep Banking Facility: IDBI Bank provides home or doorstep banking facilities for the convenience of its customers. The bank has specialised customer representatives to address the banking needs smoothly
• Free ATM Card: The bank provides free Platinum or Gold debit-cum-ATM card to its customers
• Other services: The bank offers its customers with services like internet banking, mobile banking and SMS alerts

Below given is the detailed explanation of the schedule of facilities, primary features and fees and charges of IDBI Flexi Current Account. 

Schedule of Facilities
Primary Features	Fees / Charges
MAB (Monthly Average Balance)	Metro / Urban: Rs.10,000 Semi Urban: Rs.5000 Rural: Rs.1000 Rural Fi: Nil
Non-maintenance of MAB (accounts maintaining over 50% of stipulated MAB)	Metro / Urban: Rs.750  Semi Urban: Rs.375 Rural: Rs.75 Rural Fi: Nil
Cash Withdrawal- Self and Third Party	Free
Fund Transfer- Cheque / account to account transfer (Non-Home Branch)	Free
DD / PO / Omni pay Cancellation	Rs.100 per instrument
SMS alerts	Rs.15 per quarter
Physical statement from branch / post / courier	Rs.100 per statement + actual courier charges
ATM Cash withdrawal limit (per day)	Classic debit card: Rs.50,000 Gold debit card: Rs.75,000 Platinum debit card: Rs.1 lakh
Facilities based on Monthly Average Balance (From Rs.10,001 to Rs.25,000)
Cheque Book	50 cheque leaves free
DD / PO	Free limit of 5
NEFT and RTGS	Via branch: Free 5 transactions Via Net Banking: Free 5 transactions
Cash Deposit (Home and Non-Home Branch)	10 times of maintained MAB

IDBI Current Account can be opened by the below mentioned entities-

1. Individuals
2. Partnership Firms
3. Private and Public Limited Companies
4. HUFs
5. Specifies associations / trusts / societies etc.

It is to be noted that the procedure or documentation relating to opening of IDBI Bank Current Account for individuals, is the same as those for savings bank account. However, for partnership firms, HUFs, limited companies, trusts etc. the documentation and other requirements will be provided on request from the bank.

The customers can apply for IDBI Flexi Current Account by either the Phone Banking numbers or by visiting the nearest IDBI Bank branch. Below mentioned are the different ways by which one can open current account in IDBI Bank:

By Calling on Phone Banking Numbers –

Toll Free Numbers	1800-209-4324 / 1800-22-1070
Call Centre number (Chargeable for Customers)	022-67719100 / 0091-22-67719100

The customer needs to just give a call on any of the above mentioned numbers and place an account opening request. The bank’s representative will contact the customer for further verification and documentation.

By visiting the Bank Branch –

Step 1: Visit the nearest IDBI Branch.

Step 2: Fill an account opening form providing all the required details.

Step 3: Submit the form along with the required KYC acceptable documents to the bank’s representative.

The account opening form is also available on the bank’s official website. The users can download the same, take a print out, fill and submit the form along with the required KYC acceptable documents to the nearest bank branch.

Below mentioned is the detailed IDBI Bank document checklist. The applicants are required to keep all the original as well as photocopies of all documents required at the time of account opening.

IDBI Bank Document Checklist

Proof of identity (any one)- Voter’s ID Card / Passport / Driving License / PAN Card / signature identification from present bankers of proprietor, partner or Director (in the case of companies) Proof of Residence- Recent telephone bills or electricity bill or property tax receipt or passport or voter-ID Card of proprietor, partner or Director (if a company) Proof of Business Address Proof of Minority Last three years balance sheets of the units along with income tax / sales tax returns (for cases of fund based limits of Rs 25 lakh and above) Memorandum and Articles of Association of the Company / Partnership Deed of partners, etc. Assets and liabilities statement of promoters and guarantors alongwith latest income tax returns (for cases above Rs 5 lakh) Rent Agreement (if the business premises in on rent) SSI / MSME registration (if applicable) Projected balance sheets for the next two years in case of working capital limits and for the period of the loan in case of term loan. Sanction letters of facilities (In case of takeover of advances) Profile of the unit (for cases with exposure above Rs 25 lakh) Last three years’ balance sheets of the Associate/ Group Companies (for cases with exposure above Rs 25 lakh) Project report (for cases with exposure above Rs 25 lakh) Review of account report (for cases with exposure above Rs 25 lakh) Photocopies of lease deeds / title deeds of all the properties (wherever applicable) Position of accounts (in case of takeover) Manufacturing process, if applicable (for cases with exposure above Rs 25 lakh)

Q. What is the minimum balance requirement is IDBI Current Account?

A. The MAB requirement are as below:

• For Metro / Urban: Rs.10,000
• For Semi Urban: Rs.5000
• For Rural: Rs.1000
• Rural Fi: Nil

Q. What is Flexi Current Account?

A. Flexi Current Account is a new designed product offering tailor-made service for customers with a significant impact of seasonality in their business. The product offers advanced banking services enhanced flexible benefits depending upon the MAB (Monthly Average Balance) maintained in the account.

Q. What is non-maintenance of MAB charges in IDBI Bank?

A. MAB Requirement charge per month 

• < Rs.5000: Rs.150
• >= Rs.5000 – < Rs.15,000: Rs.100
• >= Rs.15,000 – < Rs.25,000: Rs.75

Q. What is Monthly Average Balance in IDBI Bank?

A. MAB (Monthly Average Balance) is the sum total of the amount of money at the end of each day of the month divided by number of days of the month.