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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

IDBI Advantage Bonanza Account
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

0
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.

Application Procedure
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