Product Details
Bank Name
IDBI Bank
Account Name
IDBI Advantage Kids 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
NIL
Account Opening Fees
0
Debit Card Charges
220
Annual Maintenance Fees
0
NEFT Charges
Free through Net /MobileBanking
Minimum Account Balance
MAB of Rs. 5000
IMPS Charges
Free through Net /MobileBanking
Fees and Charges of
IDBI Advantage Kids Account
IDBI Advantage Kids Account
Special Features
None
Eligibility Criteria
Minor of any age - Account to be opened jointly with guardian.
Benefits
Features, Eligibility and Benefits of
IDBI Advantage Kids Account
Pros & Cons of
Pros
No charges for non maintenance of MAB.
Exclusive designed kids ATM card.
Withdrawal limits up to Rs. 2,000 at ATM/POS.
Free monthly statements via mail on request.
Free passbook.
Free five ATM transactions at other bank ATMs at Non-Metro locations
Cons
IDBI Advantage Kids Account
IDBI Advantage Kids Account Review
The account comes with low interest rate and offers average 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
Review of
IDBI Advantage Kids Account
Account Opening and Procedure of
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.