IDBI student accounts can be opened online by visiting the official website of IDBI Bank. This is one of the best services offered by the bank to students who are studying abroad or in India. The bank offers this savings account under its ‘Advantage Kids Account’ scheme. The account comes with an ATM card designed especially for students with a limited amount for both cash withdrawals and POS. IDBI Bank is one of the best private-sector banks in India and is known for banking and financial services like savings accounts, education loans etc.
Table of contents
IDBI Student Account: Major Highlights
The IDBI Student Account is one of the best options for students to manage their finances efficiently in India or abroad. The major features of the bank account are low MAB requirements, free ATM withdrawals, and an easy online banking platform for convenient transactions. Check more details in the table below:
| IDBI Student Account | Major Features |
| Name of the Scheme | IDBI Advantage Kids Account |
| Eligibility Criteria | Indian citizens below 18 years of age |
| Interest on Savings | 2.75% (Up to INR 1 lakh) |
| Mode of Application | Online or Offline |
| Monthly Average Balance | INR 5000 |
Also Read: Check here all the details on IDBI Bank Personal Loan for students and individuals
How to Open a Student Account in IDBI Bank?
IDBI student accounts can be opened through both online and offline processes. You can apply for the account online on the official website or by visiting the nearest branch. You also need to submit the documents along with the account opening form. Check the steps involved in opening an IDBI bank student account below:
- Visit the nearest branch of IDBI Bank
- Get an account opening form
- Fill out the form and submit it along with the required documents
- Wait for verification
- The bank will verify the details, open the account and provide you with a passbook
- Paste a passport-sized photograph on the passbook
Major Benefits of IDBI Bank Student Account
IDBI Bank offers a lot of benefits and special perks for students. From ATM cards to IDBI education loans, the bank is one of the best for students. Check some major benefits and features of the IDBI student account below:
- The MAB (Monthly Average Balance) is only INR 5000
- ATM cum debit card designed exclusively for students
- The withdrawal limit and POS transaction limit are up to INR 5000
- Free monthly statements by sms or email on request
- Free five ATM transactions at other Bank ATMs in non-metro cities
Also Read: Check here all the major details on IDBI education loan interest rate
Eligibility Criteria
To be eligible for an IDBI Bank student account, students generally need to meet certain criteria. However, for a student account, the eligibility criteria are very simple. The students who want to open a savings account with IDBI Bank must meet the following criteria:
Here’s an outline of the typical requirements:
- Students should be between 10 and 25 years old. For minors (under 18), the account will be operated jointly with a parent or guardian.
- The student must be a full-time student at a recognised university in India or abroad.
- Parent or guardian details and consent may be needed for applicants under 18 years old.
Documents Required for IDBI Bank Student Account
The documents required for the IDBI Bank student account mainly include KYC documents and proof of admission to a recognised university. If the student is studying abroad, the bank may ask for some additional documents. Check more details below:
- Aadhaar and PAN Card
- ID card from school or college
- 2 Passport size photograph
- Documents of guarantor
IDBI Bank is one of the best banks for students. You can also get other services apart from the student account. Go through the terms and conditions of the account before opening. Check some FAQs based on the IDBI student account below:
FAQs
The eligibility criteria for an IDBI Bank student account is that the student must be an Indian citizen below 18 years of age.
The student must maintain a monthly average balance of INR 5000 in the savings account. Bank may charge penalties if you do not maintain a minimum balance.
Yes. The bank provides internet banking services with the account. You need to obtain credentials such as a user ID and password to access the net banking.
You will get an opening kit which will contain a chequebook and ATM cum debit card. You need to access the debit card from IDBI Bank ATM.
You can visit the nearest branch of IDBI Bank and fill out the account opening form. Submit the form along with the relevant documents.
To know more about education loans, the best bank accounts for students, forex and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your study abroad experience.
Follow Us on Social Media
