IDBI Bank, one of India’s leading banks provides a Savings Bank account – IDBI Sabka Basic Savings Account which is free from the hassles of maintaining the minimum balance. Through this product, the bank intends to expand the reach of its services.
IDBI Sabka Basic Savings Account Interest Rate
| Savings Account Balance | Rate of Interest (w.e.f. October 1, 2017) |
| Account Balance up to Rs. 25 Lakh | 3.50% p.a. |
| Account Balance above Rs. 25 Lakh | 4.00% p.a. |
Other Savings Account Options Offered by IDBI Bank
| Types of IDBI Savings Accounts | |
| IDBI Super Savings Account | Woman Savings Account / SuperShakti Women Account |
| Senior Citizen Account- IDBI Bank Senior Citizen Accounts | Savings Account for Youth – IDBI Bank Being Me Account |
| Children Saving Account – IDBI Bank Power Kids Account |
Savings Bank Account IDBI Bank Small Account (Relaxed KYC) |
| Pension Saving Account | Capital Gain Account Scheme – IDBI Bank Capital Gain Account |
IDBI Sabka Basic Savings Account Features
| Particular | Features & Benefits |
| Minimum Balance Requirement | Zero balance savings account |
| ATM Debit Card | Free International ATM cum Debit Card |
| SMS and E-mail Alerts | Free alerts for every transaction |
| Account Statement | Free consolidated account statement on a monthly basis through e-mail |
| Eligibility Criteria | Indian residents |
Advantages of IDBI Sabka Basic Savings Account
- Cheque Book: Apart from a debit cum ATM card, an account holder will get a cheque book on request
- Multiple Easy Ways of Banking: The bank offers many easy ways of banking i.e. internet banking, SMS banking and phone banking to allow you to easily access your money at anytime and anywhere
- Free Electronic Fund Transfer: Free NEFT transaction of maximum Rs. 1 Lakh from the branch
- Free Cash Deposits: No charges for cash deposits at the base and non-base branches
KYC Documents Needed for IDBI Sabka Basic Savings Account
| Documents Required for IDBI Sabka Basic Savings Account | |
| Application Form |
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| Proof of ID |
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| Proof of Address |
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| Photographs |
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| Proof of Date of Birth (only for minor) |
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How to Open IDBI Sabka Savings Account?
Individuals who want to open this savings account with IDBI Bank can download the application form from the official website/portal of the bank or visit the nearest branch of the bank to collect the form. After getting the form, fill in all the details correctly and attach the copies of KYC documents. Submit the form and self-attested documents. Upon successful verification, you will be provided with a starter kit containing the debit card, PIN, etc.