The bank is giving interest every month on the savings account. Not only this, the bank is also giving interest on interest to its customers. Also, you will be able to use ATM for free 5 times in a month. Debit card and check book facility will be available for free.
If you want to earn interest on savings account every month, then you have a great opportunity. Where you will not only get interest every month on the savings account, but many facilities will also be available for free. Actually, the leading private sector bank IDFC First Bank is providing this facility.
IDFC First Bank has introduced many services for the first time in the banking sector. The bank will pay interest every month on the savings account. Not only this, the bank is also giving interest on interest to its customers. Let us inform that IDFC First Bank has implemented this new rule from July 1.
Most of the banks pay interest every quarter to the customers. Banks are free to credit interest on a monthly basis as per the rules of the Reserve Bank of India (RBI). There is no compulsion from the central bank in this regard.
You can also open an account in
IDFC First Bank, you can open an account online even sitting at home. During this, all the formalities of opening a bank account are completed online. A purchase limit of Rs 6 lakh is being given on the savings account of IDFC First Bank. Along with this, the facility of withdrawing money up to 2 lakh daily from ATM is also available.
The bank is giving up to 5 percent interest
IDFC First Bank provides interest to its account holders at the maximum rate of 5 percent during a year. The rate of interest is decided on the basis of the amount deposited in the account. Let us tell you that most of the banks are currently giving 3% interest on the savings account. IDFC First Bank gives 4% interest on deposits up to Rs 1 lakh, 4.5% on deposits of Rs 1 to 10 lakh and 5% on deposits above Rs 10 lakh.
Free ATM facility
According to the information given on the IDFC First Bank website, if a customer withdraws money from the credit card of the bank’s ATM, then this free service will be available for 48 days. That is, till the date of payment of the credit card, the bank will not take any charge. The bank has said that it will charge an interest of 0.75 to 2.99% for the month on the use of the credit card.
1 crore insurance free
IDFC First Bank provides insurance of one crore free to its account holder. If the account holder dies in a plane accident, then the nominee gets an amount of one crore rupees.
