IDFC FIRST Bank FIRST Power Savings Account

Updated: 31-07-2026 14:05:47 PM

IDFC FIRST Bank offers a special savings account for women, FIRST Power Savings Account. The interest rate offered on this account is up to 6.5% p.a. Other features and benefits that come with the account include, monthly interest credit benefits, VISA debit card and discounted locker facility.

IDFC FIRST Bank FIRST Power Savings Account Interest Rate 

Savings Account Balance (Rs)	Interest Rate (% p.a.)
Up to Rs 3 lakh	2.5%
Above Rs 3 lakhs to up to Rs 25 crores	6.5%
Above Rs 25 crores	5%

Note- The interest rates are applicable from 21 April 2026.

Feature & Benefits of FIRST Power Women Savings Account

IDFC FIRST Bank offers the following benefits to its women savings account customers: 

• Interest-  Up to 6.5% p.a. interest on your savings. Interest is calculated on your balance as per the applicable interest rate slabs, with each slab earning interest at its respective rate.  
• Monthly Interest Payout- The interest calculated daily, based on your end of day balance and is credited to your account monthly.  
• Discounted Locker Facility- Access locker in your location with different sizes and get 50% off on your first year locker rental along with a convenient payment option. 
    
• Airport Lounge Access- Get complimentary domestic airport lounge access on VISA Platinum Debit Card.
    
• Nomination- Avail quick nomination facility.  
• Unlimited Access to ATMs- Maintain complete liquidity on your savings account as you can access your funds anytime with free and unlimited ATM withdrawals. 
• VISA Debit Card Offers- IDFC FIRST Bank offers two VISA Debit Card variants with its Savings Account, depending on the Average Monthly Balance (AMB) maintained in your account. The features and benefits of each debit card are given below:  

Features	VISA Platinum Debit Card (₹25k Avg. Monthly Balance)	VISA Classic Debit Card (₹10k Avg. Monthly Balance)
Daily ATM withdrawal	₹2 lakh	₹1 lakh
Higher Purchase Limit	₹6 lakh	₹4 lakh
Free Personal Accident Insurance	₹35 lakh	₹5 lakh
Air Accident Insurance	₹1 crore	₹30 lakh
Unlimited ATM Access at any bank	Free	Free
Lost Card Liability	₹6 lakh	₹4 lakh
Domestic Airport Lounge Access	1 visit per quarter	—

Note- Both cards come with exclusive offers across lifestyle, grocery, shopping, travel, food & dining and more from leading brands such as Zepto, boAt, ixigo, Distinct and Tata CLiQ etc. 

TDS on Savings Account

The interest earned from your savings account is not subject to TDS. But the interest you earn on your savings account is taxed as ‘Income from Other Sources’ based on your total earnings. Thus, it is important to declare the interest earned on your savings account while filing your income tax returns.

Interest accrued on the savings account will be eligible for deduction under Section 80TTA up to a maximum of ₹10,000. For senior citizens, this deduction limit is extended up to ₹50,000, under Section 80TTB.

Eligibility Criteria for Opening a Women Saving Account in IDFC FIRST Bank

Any women who matches the following eligibility criteria can open a saving account in IDFC FIRST Bank: 

• Indian Citizen 
• Resident of India  
• Foreign nationals residing in India and meeting Government of India (GOI) criteria
• Age: Above 18 years old 

Documents Required for Opening FIRST Power Savings Account

• For Online Account Opening- Aadhaar number, PAN and aadhaar linked mobile number

• For Offline Account Opening- The following documents required to open a savings account when you visit IDFC FIRST bank branch in person:

• Passport size photograph
• If you have PAN card, it’s mandatory to provide while opening the account
• Any of the following documents:
  • Aadhaar card
  • Voter ID card
  • Driving license 
  • Passport 
  • NREGA Job Card signed by a State Government officer
  • National Population Register (NPR) letter containing your name and address

How to Open FIRST Power Saving Account

Follow the simple steps below to open a FIRST Power Women Savings Account:

Online Process: 

• Log in to Internet Banking or Mobile Banking App of IDFC FIRST Bank
• Click on ‘Savings Account’ 
• Fill the required details and verify with OTP
• Select the saving account variants (₹10k or ₹25k)
• Add nominee details (optional)
• Click on ‘Proceed to open account’ for further process.   

Offline Process:  

• Visit your nearest IDFC FIRST bank branch
• Submit the account opening form
• Provide PAN and valid KYC documents
• Complete verification
• Account is activated after successful verification and initial funding

FAQs 

What is the interest rate of the FIRST Power Women Savings Account? 

IDFC FIRST Bank offers up to 6.50% p.a. Interest on women savings accounts. 

Are there any fees & charges associated with FIRST Power Women Savings Account? 

If you don’t maintain the average monthly balance (AMB) of ₹10,000 or ₹25,000 based on the account variants, it may attract non-maintainance charges.  

How frequently is interest credited to FIRST Power Savings Account? 

IDFC FIRST Bank calculates interest on your savings based on end-of-day balance and is credited to your account monthly. It allows you to maximize your savings. 

Does the Women’s Savings Account offer higher interest rates than regular savings accounts?

IDFC FIRST Bank offers up to 6.50% p.a. Interest rate across its all savings accounts variants including FIRST Power Women Savings Accounts. 

How long does it take to activate the FIRST Power Women Savings Account?

Usually it takes a few minutes to a few hours to activate your FIRST Power Women Savings Account after a successful video KYC. On the other hand, if the account is opened through a branch, activation is typically completed within minutes after all formalities and documents verification are completed.  

Is there any minimum balance I have to maintain for the FIRST Power Women Savings Account?

Yes, based on the FIRST Power Women Savings Account variant, you need to maintain an Average Monthly Balance (AMB) of ₹10,000 or ₹25,000 to continue unrestricted benefits and to avoid non-maintenance charges. 

Is there another name for the IDFC FIRST Women Savings Account?      

Yes, IDFC FIRST Women Savings Account also known as FIRST Power Women Savings Account.  

How can I open an FIRST Power Women Savings Account? 

You can open an FIRST Power Women Savings Account online through the bank’s website or mobile app, or by visiting your nearest branch. Simply complete the application form, finish the KYC verification and deposit the required initial amount to activate your account.

What debit card will I get with my FIRST Power Women Savings Account?

IDFC FIRST Bank offers two types of VISA debit cards depending on the Average Monthly Balance (AMB) variant of the savings account. If you opt for the ₹10,000 AMB account variant, you get a VISA Classic Debit Card. Whereas it offers a VISA Platinum Debit Card with ₹25,000 AMC-variant savings account. However, both cards come with exciting offers across e-commerce, dining, entertainment and more.