Product Details
Bank Name
IDBI Bank
Account Name
Advantage Prime Saving 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
Rs. 2,500/-
Annual Maintenance Fees
0
Minimum Account Balance
Rs. 5,000
Debit Card Charges
Rs. 220
NEFT Charges
Free through Net /MobileBanking
IMPS Charges
Upto Rs. 1000/- per Transaction -NIL ,Above Rs. 1000/- - Rs. 1 Lac -Rs.5/-
Fees and Charges
Advantage Prime Saving Account
Special Features
Preferential rate on educational loan.
Eligibility Criteria
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
No charges for non-maintenance of MAB.
Exclusively designed Debit cum ATM card for Youth.
Five free ATM transactions at other Bank ATMs at Non-Metro locations.
Online options to pay bills or tax.
Cons
Low interest rate
IDBI Advantage Prime Saving Account
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
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.