Guide on IDFC bank account opening zero balance: IDFC First Bank Zero Balance Account Opening Online. IDFC bank 0 balance account opening online.
IDFC First Bank (IDFC Bank) India incorporates multiple services to benefit different customers. The bank has developed various accounts with key features that align with clients’ current and future needs. It’s possible for everyone, including minors and senior citizens, to hold a bank account with IDFC bank. The bank further introduces zero-balance saving accounts to suit clients without consistent funds to maintain their monthly minimum balance.
A zero bank saving account is a deposit account that doesn’t require monthly maintenance. Account users can conduct most banking services and operate online platforms such as internet banking, mobile banking, UPI app and more.
IDFC First Bank Zero Balance Account
Indian residents seeking to open a zero-balance account can check out IDFC Bank services. The bank has established a zero-balance saving account with the no minimum balance feature. The account offers comprehensive banking and financial services similar to regular savings accounts.
Types of IDFC First Bank Zero Balance Accounts
IDFC Bank Pratham Saving Account (BSBDA)
The first saving account has many benefits and features, such as:
- It’s a zero-balance account meaning no minimum balance is required.
- Applicants have free and unlimited ATM transactions (five free transactions at IDFC bank ATMs and other banks’ ATMs).
- The IDFC Bank offers a 4% + interest rate.
- The bank offers a Rupay classic debit card.
- Users can utilize free NEFT, RTGS and IMPS services
- After application, the bank will provide four free cheque book leaves monthly.
- Free cash transactions at the home branch and other branches.
- The account user will receive personal accident insurance of INR 30lakhs (death or permanent disability).
- Free credit card.
- Free access to internet banking and mobile banking.
Required Documents for Pratham Savings Account (IDFC First Bank 0 Balance Account)
The user must close down any other saving account to apply for a zero-balance account with IDFC Bank. However, new customers can directly apply for the account. One cannot open a zero balance account if they hold a similar account at other branches.
- A recent passport-size photo.
- Address proof documents such as passport, PAN, voter’s ID, Aadhaar card, and DL
- Identity proof details:
- Mobile number
- The applicant should be an Indian resident
- One must be 18 years and above
- The applicant shouldn’t have any other saving account with the bank.
- One must hold a PAN OR Aadhaar card.
- Applicant (s) can have a joint or single account.
Also, the following can apply for a Zero Balance Account
- Sole proprietorship
- Hindu undivided family (HUF)
- Self-help group
- TASC or Total Administrative Services Corporation.
IDFC Bank Account Opening Zero Balance
How to open IDFC First Bank Pratham savings account
- Visit the IDFC First bank branch.
- Request the bank official for the zero balance account opening application form.
- Ensure to carry all KYC documents, PAN and Aadhaar documents.
- Enter the required details like personal and nominee details.
- Review the information and attach the mandatory copies.
- Submit the application form to the counter for review and approval.
- The bank will open the account and provide details such as debit card, chequebook, passbook, etc…
- Can I hold a regular and Zero balance account in IDFC Bank?
No, account users can only have one zero-balance account. Applicant should close down any other account within 30 days of opening the new zero balance saving account.