jiffy classic savings account

Jiffy Classic Savings Account is a fully digital savings account that you can operate using your NSDL Jiffy mobile app. You can enjoy instant fund transfers, seamless bill payments, quick recharges and much more. That’s how Jiffy Savings Account takes a Classic way altogether.

Key Features

Average Monthly Balance

Enjoy low average monthly balance of Rs. 10,000/-

Free Virtual Debit Card

Enjoy your free virtual debit card to make online purchases. You can request for a physical debit card from your NSDL Jiffy App

Earn Up To 5% Interest*

Earn an interest up to 5% per annum paid quarterly on balance maintained in your account

Timely Bill Payments in a Jiffy

Never miss the due dates of your bills. Pay your bills on time using NSDL Jiffy App. Also, you can set-up auto pay for your monthly/regular bills

Instant Account Activation

Activate your account instantly with our fully digital safe and secure account activation process

Free Mobile Banking Service

Enjoy banking anytime, anywhere from your smartphone with NSDL Jiffy App., without going to the bank branch

Note: After opening account on NSDL Jiffy, you can upgrade to Full KYC in the app, to enjoy the above features and the Rates & Charges as below.

If you do not Upgrade to Full KYC, below conditions shall be applicable on your account:

  • Maximum daily balance allowed is Rs 95,000
  • There is an annual limit of Rs. 1,95,000/- on credit in this type of account
  • This account holder should not be holding any other Aadhaar OTP based Savings Account with any other bank
  • Account opened using OTP based e-KYC is not be allowed for more than one year. If account is not upgraded to Full KYC within one year then account will be closed
  • There will be Debit Transaction limit of Rs 50,000 per month

rate & charges

  • Per annum interest on balance up to ₹ 1 Lac

    2.5%

  • Per annum interest on balance above ₹ 1 Lac

    5%

Interest on balance greater than ₹ 2 lacs maintained with in linked account with partner bank will be as per partner bank norms.

Interest is accrued monthly and paid at the end of calendar year quarter.

  • Minimum Average Monthly Balance (AMB)

    Rs. 10,000

  • Maximum Daily Balance

    Rs. 10,00,000

  • Fund Transfer to Partner Bank Linked Account through Sweep facility#

    Yes

  • Interest on Partner Bank Linked Account

    As per Partner Bank norms.

  • Balance Non- Maintenance charges per month

    5% of shortfall* + GST, Subject to Min Rs. 100 + GST, Max Rs. 750 + GST

  • Initial Deposit

    Rs. 25,000

*Shortfall is calculated as a difference between required AMB and actual AMB maintained for a calendar month. Max charges capped at Rs. 750 + applicable taxes.

#Customers will be given a choice for opting a partner bank which will be considered for moving out excess funds. Interest rates on the funds available with partner bank will be as per the prevailing rates offered by the bank. T&C Apply.

Inward

IMPS/NEFT/RTGS

Free

Outward

  • Intra Bank (Within NSDL Payments Bank Accounts)

    Free

  • IMPS

    Up to Rs.10,000 - Rs.2.50 + GST

    Rs.10,001 to Rs.1,00,000 - Rs.5.00 + GST

    Rs.1,00,001 to Rs.2,00,000 - Rs.15.00 + GST

  • NEFT

    Free

  • RTGS

    Rs. 2,00,000 to Rs. 5,00,000 - Rs. 30.00 + GST

    >Rs. 5,00,000 - Rs. 55.00 + GST

NEFT - National Electronic Funds Transfer, IMPS - Immediate Payment Services, RTGS - Real Time Gross Settlement

  • Cash Deposit (Not Enabled Currently)

    Free upto 2 instances per month.

    Beyond free limit Rs. 3 per Rs. 1000 + GST (subject to minimum Rs. 150 + GST)

  • Cash Withdrawal#

    NA

  • Fund Transfer (NEFT/RTGS/IMPS)

    NA

#Cash withdrawal & Fund Transfer from branch will not be allowed for Savings Account customers as we do not have wet signatures for verification.

Virtual Debit Card

  • Type~

    RuPay Platinum / Visa Classic

  • Issuance Fee

    Free

  • Annual Fee

    Free

  • Daily Ecom Limit (RuPay / Visa)

    Rs. 25,000 / Rs. 25,000

Physical Debit Card

  • Type

    RuPay Platinum / Visa Classic

  • Issuance Fee

    Rs. 300 + GST / Rs. 300 + GST

  • Annual Fee (2nd Year onwards)

    Rs. 300 + GST / Rs. 300 + GST

  • Replacement Fee

    Rs. 300 + GST / Rs. 300 + GST

  • Daily Withdrawal Limit

    Rs. 20,000 / Rs. 20,000

  • Daily POS Limit

    Rs. 50,000 / Rs. 50,000

  • ATM Transaction (Per Month)

    Metro - up to 3 transactions

    Non-Metro - up to 5 transactions

  • ATM Charges beyond free limit

    Financial= Rs 20 + GST

    Non-financial = Rs 8 + GST

  • ATM decline for insufficient funds

    Rs. 25 + GST

~Choice of Debit Card to be made by the customer. However Physical Debit Card, if opted, will be same as the virtual card.

Account Statements

  • Email Statement (Monthly)

    Free

  • Physical Statement (Adhoc)

    Rs. 100 + GST per request

Standing Instructions / NACH -

  • Setting up of Standing Instructions (Digitally)

    Free

  • Setting up of Standing Instructions (Branch)

    NA

  • Setting up of NACH

    Free

  • NACH Return/Rejects

    Rs. 500 + GST

Interest / Balance / TDS Certificate -

  • Digital

    Free

  • Physical through Branch / Service Point

    Rs. 50 + GST

  • TDS certificate

    Free

  • Account Closure Charges*

    Rs. 500 + GST

  • Physical Welcome Letter (Only on request)

    Rs. 100 + GST

*Applicable only if the account is closed > 14 days or < 12 months of account opening.

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