Updated September 29, 2026 · VaultCue Editorial Team
DBS digibank India vs IDFC FIRST Bank
DBS digibank India
Higher score in this comparison
IDFC FIRST Bank
What sets them apart
| Compare | DBS digibank IndiaReviewSee alternativesSee alternatives | IDFC FIRST BankReviewSee alternativesSee alternatives |
|---|---|---|
| Monthly fee | ₹0 | Not confirmed |
| Currency conversion fee | 0% | Not confirmed |
| Free ATM withdrawals | ₹0 | Not confirmed |
| Transfer fee | Free (RTGS, NEFT, IMPS, UPI P2P online) | Not confirmed |
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Our verdict on each
DBS digibank India
DBS digibank India suits people in India who want a free everyday account and will keep a working balance. The monthly fee is INR 0 and the account earns 2.5% to 5%, so the money only works harder once the balance sits above the INR 10,000 mark.
IDFC FIRST Bank
IDFC FIRST Bank pays 7% on an easy access savings account, so it suits people who want reserve money to earn a competitive return while staying reachable. The rate is variable, which means the bank sets it, and that trade-off is the one to weigh.
Score breakdown
| Area | DBS digibank India | IDFC FIRST Bank |
|---|---|---|
| Cost | 9.4Monthly fee of INR 0 with a 0% currency conversion fee, though the savings rate sits at 2.5% to 5%. | Not confirmed |
| Offer | 8.6Savings pay 2.5% to 5% at a variable rate, but the account is an easy access account with a INR 10,000 minimum. | Not confirmed |
How they place
| Ranking | DBS digibank India | IDFC FIRST Bank |
|---|---|---|
| Current and checking accounts | 78 of 885 | 608 of 885 |
| Savings accounts | 262 of 1420 | 1118 of 1420 |
Every fact side by side
| Fact | DBS digibank India | IDFC FIRST Bank |
|---|---|---|
| Pricing model | No monthly fee, Low FX | Not confirmed |
| Features | Free ATM | Not confirmed |
| Legal entity | DBS Bank India Limited | Not confirmed |
| Headquarters | India | Not confirmed |
| Support channels | Phone, Help centre | Not confirmed |
Savings
| Fact | DBS digibank India | IDFC FIRST Bank |
|---|---|---|
| Headline rate | 2.5% to 5% | 7%Higher |
| Rate type | Variable | Variable |
| Minimum deposit | ₹10,000 | Not confirmed |
| Access terms | Monthly Average Balance of INR 10,000 for the DBS Bank Savings Account; balance non-maintenance charge 6% of shortfall up to INR 500, charged monthly | Not confirmed |
| Account kind | Easy access | Easy access |
Money transfer
| Fact | DBS digibank India | IDFC FIRST Bank |
|---|---|---|
| Delivery time | Same day if initiated before 11:30 AM IST cut-off, within 24 hours | Not confirmed |
| Payout methods | Bank | Not confirmed |
| Fee to send 1,000 | ₹0 to ₹500 | Not confirmed |
Where each stands against the rest
| Fact | DBS digibank India | IDFC FIRST Bank | Median |
|---|---|---|---|
| Monthly fee | ₹0at the median | Not confirmed | ₹0 |
| Currency conversion fee | 0%below the median | Not confirmed | 0.5% |
Median across 377 listed accounts.
Pros and cons
DBS digibank India
Pros
- No monthly account charge, with a monthly fee of INR 0
- Currency conversion of 0% makes it cheap for spending abroad
- Savings pay 2.5% to 5% on a variable basis
Cons
- A INR 10,000 minimum deposit is needed to earn the 2.5% to 5% rate
- Support runs on phone and help centre only
IDFC FIRST Bank
Pros
- Interest of 7%, against a site median of 3% and an upper quartile of 4.15%.
- Easy access, easy access, which keeps savings reachable at short notice.
- It out-earns PayPal Colombia, 3.3%, for anyone weighing a savings balance against a wallet.
Cons
- The rate is variable, so the bank can revise the advertised 7% during the life of the balance.
- On headline rate the account ranks 56 of 473 brands tracked, while Plazo ES quotes 24.19% on its own offer.
- Credit products in the set quote higher headline figures, with Plazo ES at 24.19% and AXI Card Tarjeta y Credito at 21.59%, so those numbers describe card offers.
Who each suits
DBS digibank India
Who it suits
- Anyone in India paying rent, bills and salary in rupees
- People who want the free ATM withdrawals in free atm
- Anyone paid in from overseas, since Free (RTGS, NEFT, IMPS, UPI P2P online) covers it
Who should look elsewhere
- People who need a chat or branch channel rather than phone and help centre
- AXI Card Tarjeta y Credito, which charges a monthly fee of €0 on a card offer
IDFC FIRST Bank
Who it suits
- People keeping an emergency or short notice reserve who still want a competitive return.
- Savers comfortable with a rate the bank sets, since the rate is variable.
- Readers checking what a plain savings account pays, at 7% against a site median of 3%.
Who should look elsewhere
- Anyone chasing the highest headline figure in the set: Plazo ES shows 24.19% and AXI Card Tarjeta y Credito 21.59%, both credit products.
- Savers who want a return fixed for a term, since the rate is variable and the account is easy access.
- People whose main comparison is a wallet balance: PayPal Colombia quotes 3.3%, so the gap to 7% is worth weighing first.
Current offers
DBS digibank India
Current offer
Bonus
Remittance exchange-rate offer on DBS Treasures: Save up to INR 17,000 with exclusive exchange rates
Terms marked with an asterisk on the DBS Treasures India page
Source, checked September 26, 2026
Bonus
Zero bank fee international remittance and LRS transfers: Zero fees, over 180 countries
Same-day transfer only if made before the 11:30 AM cut-off time for most currencies; T&C apply
Source, checked September 26, 2026
Country by country
| Country | DBS digibank India | IDFC FIRST Bank |
|---|---|---|
| India | Yes | Yes |
Questions about each
DBS digibank India
Is there a monthly fee for the DBS digibank India account?+
No. The monthly fee is INR 0, so holding the account costs nothing in fees. Spending abroad is also cheap because the currency conversion fee is 0%. The account is a easy access account, which suits day to day banking in India.
How much interest do I earn, and does it change?+
The headline rate runs 2.5% to 5% and the rate type is variable, so the figure moves with the bank's rates rather than being locked in. The rate sits above the site median of 3%. Keep the balance at or above INR 10,000 to earn it.
IDFC FIRST Bank
What rate does IDFC FIRST Bank pay on its savings account?+
The advertised rate is 7%. The median across the site is 3%, so this rate sits above the middle of the market, and above the upper quartile too, at 4.15%. The bank sets the figure, and it applies while the account is open.
Is the interest rate fixed or variable?+
It is variable. The bank can revise the advertised 7% as conditions change, so savers who want a return fixed today should weigh a term product instead. Easy access, easy access, adds flexibility on access rather than on price.
Other options to compare
Related by the facts
DBS digibank India
IDFC FIRST Bank