Product Details
Bank Name
IDBI Bank
Account Name
IDBI Advantage Account
Account Type
Saving
Interest Rate
Upto Rs. 5 Cr -3.00% and Above Rs.5 Cr up to Rs.100 Cr-3.25%.
Free Debit Card
Yes
Account Opening Fees
0
Annual Maintenance Fees
0
Minimum Account Balance
MAB – Rs. 10,000 (Metro & Urban), Rs. 5000 (Semi Urban), Rs. 2500 (Rural).
Debit Card Charges
Rs.150/-
NEFT Charges
Free through Net /MobileBanking
IMPS Charges
Free through Net /MobileBanking
Fees and Charges
IDBI Advantage Account
Special Features
None
Eligibility Criteria
The eligibility criteria is not specified by the bank.
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
An International Debit card is available.
Passbook facility.
Free five ATM transactions at other Bank ATMs at Non-Metro locations.
Value-added services.
Cons
Low interest rate.
IDBI Advantage Account Review
The account comes with low interest rate and offers minimal value add features.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai
Product Review
Account Opening and Procedure
How to open an Account?
Opening a savings account with IDBI Bank can be done through a couple of methods, primarily involving either online initiation or a visit to a physical branch. Here's a breakdown based on the information I found:
Key Methods:
Visiting a Branch:
This is a traditional and reliable method. You can visit your nearest IDBI Bank branch.Bank personnel will guide you through the process, help you fill out the necessary forms, and inform you about the required documents.
Online Initiation:
IDBI Bank does offer online options to initiate the process. You can start by:Visiting the official IDBI Bank website.
Looking for the savings account section.
You may find options to fill out an online form, and then a bank representative will contact you.