IDFC First Bank is a well-recognized Indian banking organization that has been playing a major role in the banking sector. Its products and services are vast, encompassing private banking, investment banking, corporate banking, wholesale banking, consumer banking, wealth management, and various kinds of personal and commercial loans among many others. IDFC First Bank Limited was formerly known as IDFC Bank. To become a registered customer of IDFC First Bank in Parrys, Chennai, one has to visit any of the nearby IDFC First Bank branches or get in touch with an executive over IDFC First Bank contact number for detailed information.
Mentioned here are the various products and services offered by IDFC First Bank Ltd under its ‘personal banking’ services.
IDFC First Bank Savings Accounts
IDFC First Bank savings account interest rate is too attractive. Customers can enjoy up to 7 percent interest per annum on their savings account. The minimum sum required to open IDFC First Bank savings account is Rs. 25,000. Customers get a free Visa debit card when they open a savings account in this bank. The Signature Debit Card offers personal accident insurance of Rs. 25 lakh, free airport lounge access in major cities, twice every quarter, free ATM transactions at any bank and on any network, etc. The Classic Debit Card offers unlimited free fund transfer, free Visa Classic Debit Card for life, and minimal and transparent charges. Learn more by calling on the IDFC First Bank customer care no.
IDFC First Bank Deposits
All the branches of IDFC First Bank Parrys, Chennai has, offer a plethora of benefits under Fixed Deposit, Recurring Deposit, and other deposit accounts. IDFC First Bank interest rates on fixed deposits are one of the highest in the market. It levies no penalty for senior citizens on early closure and also assures high returns. IDFC First Bank Recurring Deposit Account can be opened via IDFC First Bank internet banking with minimum Rs. 2,000 per month. For further information, call at IDFC First customer care.
IDFC First Bank Loans
In Parrys, Chennai IDFC First Bank branches provide IDFC First loan facility to both- the existing customers and new customers of the bank. Following are the various loans offered by IDFC First.
Personal Loan: Customers can apply for IDFC First personal loan amount from Rs. 1 lakh to up to Rs. 40 lakhs. This IDFC First loan features paperless digital sanctions, loan tenure from 12 months to 84 months, flexibility to make up to 40 percent part payment with ROI starting as low as 10.75 percent.
Home Loan: IDFC First Bank home loan features minimum turnaround time with loans offered from Rs. 5 lakhs to up to Rs. 5 crores with no hidden charges.
Business Loan: Customers can apply for a loan amount from Rs. 3 lakhs to Rs. 75 lakhs through IDFC First Bank business loan. The tenure ranges from 1 to 5 years with facilities for a top-up on existing loans. To check IDFC First Bank loan status, customers can use their IDFC First Bank login details on the internet.
IDFC First Bank FOREX Services
Transfer funds abroad: Customers can transfer money from their account to any beneficiary’s account overseas. They can send funds in 14 currencies at competitive exchange rates. This facility is available via IDFC First net banking as well as IDFC Bank branches.
Fund transfer from overseas: IDFC First Bank provides fund transfer services from foreign countries to both, non-resident and resident accounts. There is no limit on the amount of funds. Also, no processing fee is levied by the bank on the same. Simply use IDFC First login details to execute the transfer easily and quickly.
Role of IDFC First Bank in COVID-19
On account of the lockdown imposed by the government, IDFC First Bank has extended a few relief measures to their customers under COVID-19 Regulatory Package.
1. IDFC First Bank will grant a moratorium of up to three months on payment of any or all instalments falling due between March 1, 2020, and May 31, 2020.
2. All retail customers who have taken loans such as home loans, business loans, loan against property, vehicle loans, two-wheeler loans, consumer durable loans, personal loans and other such retail instalment loans before April 1, 2020, are eligible for this moratorium.
3. During the moratorium period, the rate of interest will continue to accrue on the outstanding portion of such term loan at the same rate as contracted for the respective loan.
4. Customers wishing to avail the moratorium need to email the bank from their registered email address.
5. No penal or bounced cheque charges will apply to the policy during the moratorium period.
6. Customers have been requested to do internet banking via the IDFC First Bank online banking facilities until the novel coronavirus pandemic ends.
Frequently Asked Questions
1. What is the minimum balance required to open a Savings Account with IDFC First Bank in Chennai?
The minimum balance required to open a Savings Account with IDFC First Bank is Rs. 25,000.
2. After the merger of IDFC Bank with Capital First Bank, can I avail the services of Capital First Bank if I am a customer of IDFC Bank?
Yes, as a customer of IDFC Bank, you can avail the services of Capital First Bank since IDFC FIRST is now one.
3. What are the documents required for me to apply for FASTTag in Chennai?
The documents required are an original and a copy of passport size photograph of the vehicle owner, KYC documents of the vehicle owner and Registration Certificate of the vehicle.
4. What are the criteria to be eligible to avail the services of the three-month moratorium provided recently by IDBI FIRST Bank in Chennai?
There should be no overdue in your loan account on or prior to 29/02/2020.
5. What is the interest rate for Savings Account in IDFC FIRST Bank?
Currently, the interest rate for Saving Account in IDFC FIRST Bank is 4% per annum compounded quarterly. It is suggested to contact a bank executive for complete information.
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