Product Details
Bank Name
IDBI Bank
Account Name
IDBI Senior Citizen Account- Advantage Superior Savings 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
No
Account Opening Fees
Nil
Annual Maintenance Fees
0
Minimum Account Balance
MAB – Rs. 10,000 (Metro & Urban), Rs. 5000 (Semi Urban), Rs. 2500 (Rural).
Debit Card Charges
Rs 150 issuance charges and Rs 400 annual charges.
NEFT Charges
Free through Net /MobileBanking
IMPS Charges
Free through Net /MobileBanking
Fees and Charges
IDBI Senior Citizen Account- Advantage Superior Savings Account
Special Features
Upto 15% discount lockers charges.
Sweep In/Out FD option is available for balances above Rs. 15,000
Eligibility Criteria
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
Upto 15% discount lockers charges.
Sweep In/Out FD option is available for balances above Rs. 15,000.
Higher ATM cash withdrawal Limits- Rs. 50,000 per day.
Online options to pay bills or tax.
Free statement by email.
Cons
Low interest rate.
IDBI Senior Citizen Account- Advantage Superior Savings Account Review
The account comes loaded with a number of value add features. However, the account offers low interest rate. It can be considered by individuals who are looking for a good package 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?
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.