Regular Savings Account Interest Rates & Fees
Save, Pay, Invest, Shop with our Regular Savings account designed to meet all your Banking needs
The INDC First Bank Regular Savings Account Rates & Fees are as follows:
Description of Charges Regular Savings Account
Minimum Average Balance Requirements
Metro / Urban branches: AMB Rs. 5,000/-,
Semi-Urban Branches: AMB Rs. 2,000/- ,
Rural Branches: AQB Rs. 1,000/- or Fixed Deposit of Rs. 10,000 for minimum 1 year 1 day period
When it comes to maintaining monthly average balance (MAB)
charges RBI guidelines on charges:- The Reserve Bank of India (RBI) does not have any specific guidelines on closure charges and it is totally up to the discretion of the bank, like many other service charges. However, RBI has asked banks to ensure that account holders with a low volume of activities should not be penalized while fixing charges.
Account closing process:-
Withdraw the full amount of money that you have in your bank account.
Before opting to close your bank account, de-link the account if it is being used as a registered bank account for any loans, investments or bill payments.
Get in touch with your bank or visit your nearest branch and fill up the account closure form.
You also need to provide another bank account number while filling up the form, in order to transfer money before the account is closed.
If your account is a dormant or inactive account, then you will have to first activate it to close it and submit the closure form.
You also need to surrender your debit card along with any unused Cheque leaves, and a duly signed letter or an application for closure of the account.
A INDC First Bank customer looking to close a bank account with the bank within first 7 days is not liable to pay any charges.