IDFC Zero Balance Account Opening

A zero balance account means you can open an account without requiring you to deposit a minimum amount. IDFC Bank offers this option, making banking accessible to everyone, regardless of their financial status. With an IDFC Bank zero balance account, you can enjoy the benefits of banking services without worrying about maintaining a minimum balance. This feature is especially helpful for those who do not have a large sum of money to start their savings account.  

Whether you are a student, a young professional, or someone looking for a convenient banking solution, IDFC's zero balance account makes it easy to get started. 

What is a Zero Balance Account in an IDFC Savings Account?

An IDFC Bank zero balance account is a savings account that does not require you to maintain any minimum balance in your account. With this account, you can avail most of the banking features and benefits of the IDFC account. You can also earn up to 7% interest per year from your savings account. 

Features and Benefits of IDFC Bank Zero Balance Savings Account

The following are the features and benefits of IDFC Bank zero balance savings account:

• With an IDFC Bank zero balance account, you can perform unlimited ATM transactions across various parts of India. 
• You get monthly interest credit in your savings accounts.
• You get a free debit card with your savings accounts.
• IDFC Future FIRST Savings Account provides free personal accidental insurance coverage of Rs. 35 lakhs and free airport lounge accessibility twice every quarter in most of cities in India.

Types of IDFC First Bank Zero Balance Accounts

There are two types of IDFC bank zero balance accounts, which are as follows: 

• Future FIRST Savings Account

A Future FIRST Account is a savings account with no balance needed. It comes with a Visa Signature debit card and is available to students from top educational institutes in India. This account comes with UPI and net banking features.

• IDFC FIRST Bank Pratham Savings Account

The IDFC FIRST Bank Pratham Savings Account is a zero-balance savings account. By opening this account, you will enjoy various banking services for free and will receive a free Rupay Classic Debit card with no hidden charges. 

IDFC Bank Zero Balance Savings Account Eligibility

The eligibility for Future FIRST Savings Account is as follows:

• You must be an Indian citizen above 18 years of age.
• You must be a graduate and postgraduate student from a premier or identified educational institute in India.

The eligibility for IDFC FIRST Bank Pratham Savings Account is as follows:

• You must be an Indian citizen above 18 years of age.
• You must not have another savings account with IDFC FIRST Bank.
• You must not have a BSBDA account with any other bank.

Documents Required to Open an IDFC Bank Zero Balance Account 

Here is a list of documents required for IDFC bank zero balance account opening:

• Passport
• PAN card
• Any of the following identity proof documents:
  • Aadhaar card
  • Voter’s ID card
  • Driving license
  • Job Card issued by NREGA
  • Letter issued by the National Population Register

How to Open a Zero Balance Account in IDFC Bank?

Here are the steps you need to follow to open a zero balance account in IDFC Bank:

Step 1: Make a physical visit to the nearest IDFC bank branch.

Step 2: From the bank representatives, take the account opening application form for opening a savings account and fill it out with the required details. 

Step 3: Submit the application form and documents to the bank representatives. 

Step 4: The bank officials will verify the application and open the account.

Creating an IDFC bank zero balance account is simple and easy. Any individual and student can open this account and enjoy its benefits. These savings accounts come with additional benefits like free debit cards, unlimited ATM transactions, and more.

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