Product Details
Bank Name
IDBI Bank
Account Name
IDBI Advantage Bonanza Account
Account Type
Savings Account
Interest Rate
Upto Rs. 5 Cr -3.00% and Above Rs.5 Cr up to Rs.100 Cr-3.25%.
Free Debit Card
VISA/Master GOLD/Rupay Platinum
Account Opening Fees
0
Annual Maintenance Fees
0
Minimum Account Balance
Monthly average balance of Rs.50,000.
Debit Card Charges
Issuance free. Annual fee of Rs. 400
NEFT Charges
Free online
IMPS Charges
Free online
Fees and Charges
IDBI Advantage Bonanza Account
Special Features
Any branch cheque deposit and account-to-account transfer is free.
25% discount on Locker of any size with the Bank.
Eligibility Criteria
Not specified by the bank.
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
Any branch cheque deposit and account-to-account transfer is free.
25% discount on Locker of any size with the Bank.
First-year AMC is free if the user opens a Demat account with the Bank.
4 complimentary airport lounge access per year.
Cons
Low interest rates.
Hign monthly average balance requirements.
IDBI Advantage Bonanza Account
The account comes with low interest rate and offers average value-added 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.