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Product Details
Bank Name

IDFC Bank

Account Name

IDFC Honour FIRST Defence Account

Account Type

Salary Account.

Interest Rate

Upto 10 Lakh - 4% Above 10 Lakh And Upto 50 Crore 6.25%

Free Debit Card

VISA Platinum Debit card

IDFC Honour FIRST Defence Account
0
Account Opening Fees

0

Annual Maintenance Fees

0

Minimum Account Balance

0

Debit Card Charges

NIL

NEFT Charges

Free online

IMPS Charges

Free online

Fees and Charges

IDFC Honour FIRST Defence Account

Special Features
  • Users will get air acident cover of upto Rs 1 crore.

  • Users will get purchase protection of upto Rs. 1 lakh.

  • Users wil get unlimited access to any IDFC ATMs or any other bank ATMs.

Eligibility Criteria
  • Personnel serving the Indian army, navy, air force, paramilitary, or its Veterans.

Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
  •  Users will get complimentary personal accidental cover of 60 lakhs and 4 lakh for child education grant.

  • Users will get air acident cover of upto Rs 1 crore.

  • Users will get purchase protection of upto Rs. 1 lakh.

  • Users wil get unlimited access to any IDFC ATMs or any other bank ATMs.

Cons
  • Very few features.

IDFC Honour FIRST Defence Account

The account offers decent interest rate. The account also comes loaded with a number of 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?

You can open a savings account with Federal Bank either online or offline. Here's a breakdown of both methods:

Online Method

  1. Visit the Federal Bank website: Go to the official Federal Bank website and click on the "Open an Account" option.

  2. Select customer category: Choose the appropriate customer category, such as personal banking, NRI banking, or business banking.

  3. Fill in details: Provide your full name, email address, and mobile number in the online form and submit it.

  4. Receive email: You will receive an email with the Account Opening Form (AOF) and a list of required documents.

  5. Submit documents: Print and fill out the form, attach your photograph, and submit it along with the necessary KYC documents at the nearest Federal Bank branch.

  6. Collect welcome kit: Once the KYC verification is complete, you will receive your account opening kit from the bank.

Offline Method

  1. Visit a branch: Visit the nearest Federal Bank branch.

  2. Fill out the form: Obtain and fill out the account opening form.

  3. Submit documents: Submit the form along with self-attested copies of your PAN card and Aadhaar card.

  4. Deposit initial amount: Deposit the required initial amount (if it's not a zero-balance account).

  5. Account confirmation: The bank will open your account and confirm the details via SMS and email.

Application Procedure
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