Product Details
Bank Name
IDFC First Bank
Account Name
IDFC First Corporate Salary Account
Account Type
Salary Account
Interest Rate
Upto 10 Lakh - 4% Above 10 Lakh And Upto 50 Crore 6.25%.
Free Debit Card
Yes Visa Platinum Debit Card
Account Opening Fees
0
Annual Maintenance Fees
0
Minimum Account Balance
0
Debit Card Charges
0
NEFT Charges
Free
IMPS Charges
Free
Fees and Charges
IDFC First Corporate Salary Account
Special Features
Users can enjoy 10 free deliveries on food orders above ₹149.
Users can get 10 free deliveries on Instamart orders above ₹199.
Users can receive up to 30% extra discounts across 20,000+ restaurants over and above the regular offers.
Users can get unlimited entertainment benefits and free 1-day delivery with Amazon Prime.
Users will get complimentary personal accident insurance cover of ₹50 lakhs, air accident insurance cover of ₹1 crore, Lost card liability of ₹6 lakhs and purchase protection of ₹1 lakh.
Users can get access to domestic airport lounges, twice every quarter, trip cancellation benefits of up to ₹50,000 and Roadside assistance 4 times every year.
Users will get 1X reward point on every ₹150 spent offline (POS), 2X reward points on every ₹150 spent online (E-Com) and 10X accelerated reward points on incremental monthly spends above ₹20K, ₹100K, ₹150K & ₹200K.
Eligibility Criteria
A net monthly salary credit of minimum ₹50,000 per month.
You should be an Indian citizen residing in India OR a foreign national residing in India, fulfilling the GOI criteria.
Have valid proofs of identity and employment.
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
Unlimited ATM transactions.
Higher daily POS limit of ₹6 lakhs.
Daily ATM limit of ₹2 lakhs.
Users can access 20+ premium subscriptions like Disney+ Hotstar, Google One & many more.
Users can enjoy exclusive discounts from over 40 brands, such as Myntra, Uber, and Starbucks among other top brands.
Users can enjoy 10 free deliveries on food orders above ₹149.
Users can get 10 free deliveries on Instamart orders above ₹199.
Users can receive up to 30% extra discounts across 20,000+ restaurants over and above the regular offers.
Users can get unlimited entertainment benefits and free 1-day delivery with Amazon Prime.
Users will get complimentary personal accident insurance cover of ₹50 lakhs, air accident insurance cover of ₹1 crore, Lost card liability of ₹6 lakhs and purchase protection of ₹1 lakh.
Users can get access to domestic airport lounges, twice every quarter, trip cancellation benefits of up to ₹50,000 and Roadside assistance 4 times every year.
Users will get 1X reward point on every ₹150 spent offline (POS), 2X reward points on every ₹150 spent online (E-Com) and 10X accelerated reward points on incremental monthly spends above ₹20K, ₹100K, ₹150K & ₹200K.
Cons
High salary requirements.
IDFC First Corporate Salary 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 an account with IDFC First Bank either online or offline. Here's how:
Online:
Visit the IDFC First Bank website: Go to the IDFC First Bank website and navigate to the "Open Account" section.
Choose the account type: Select the type of account you want to open (savings account, current account, etc.).
Enter your details: Fill in the required personal and financial information.
Verify your identity: Complete the KYC (Know Your Customer) process using your Aadhaar card and PAN card. You may need to do a video KYC as well.
Fund your account: Deposit the initial amount required to open the account.
Receive your account details: Once your account is opened, you will receive your account number, customer ID, and other relevant details.
Offline:
Visit a branch: Locate the nearest IDFC First Bank branch.
Collect the application form: Obtain the account opening form from the branch.
Fill in the form: Accurately fill in all the required details in the form.
Submit the form and documents: Submit the completed form along with the necessary documents (identity proof, address proof, etc.) to the bank official.
Verification: The bank will verify your documents and process your application.
Account opening: Once the verification is complete, your account will be opened, and you will receive your account details.