IDFC First Bank is a well-known private sector universal Bank in India with a vision to create a world-class bank that is guided by ethics, powered by technology and serves as a force for social good. The bank aims to positively impact the lives of millions of Indians.
IDFC Bank was established by IDFC Ltd, a premier DFI that was established in 1997 and is known for financing India’s infrastructural projects such as roads, ports, and power projects. It had a balance sheet of Rs. 75,337 crores.
Capital First, on the other hand, was a successful technology-led NBFC that focused on financing consumers and MSMEs and had a strong track record of growth, profits, and asset quality. It had a balance sheet of Rs. 27,351 crores.
IDFC Bank then merged with Capital First on December 18, 2018, and is now called ‘IDFC First Bank’.
Together, IDFC First Bank has a combined history of providing over 30 million loans and serves customers in over 60,000 villages, cities, and towns across India.
|Managing Director & CEO||V. Vaidyanathan|
|Year of Merger||2018|
|Holding Pattern||Promoter: 36.38% Institutional: 33.60% Public: 30.01%|
How to Register For IDFC Net Banking?
There are two ways to register for IDFC net banking. You can either do it online or visit a branch of your choice to do the offline registration. But before you begin the process for IDFC First Bank net banking, ensure that your answer is a ‘yes’ to the following questions:
- Do you have a preexisting bank account with IDFC First Bank?
- Do you have access to the mobile number registered to that bank account?
- Do you have the debit card/account details handy?
To complete your IDFC net banking registration, you’ll need to follow these steps:
Step 1: Log on to the official IDFC FIRST Bank website.
Step 2: Click on the ‘Customer Login’ tab.
Step 3: Select the option to log in to the new portal.
Step 4: On the next page, click on ‘New Net Banking’ and then ‘Activate Now’.
Step 5: Then, enter your registered phone number (the one you gave while opening your IDFC First Bank account) and customer ID. Click on ‘Proceed’.
Step 6: On the next page, enter your account number or debit card number and, once again, click on ‘Proceed’.
Step 7: Create a user id of your choice and a password, and then click on ‘Proceed’. Your username should be alphanumeric and between 4 to 15 characters. While setting the password, set a strong password that does not use your name/birthdate or other words/numbers that can be easily guessed.
Step 8: An OTP will be sent to your registered phone number. Enter it and click on ‘Submit’.
Step 9: Once your user ID and password have been successfully set, you’ll receive a message confirming the process was successful. You will then be ready to use IDFC net banking.
To register for IDFC net banking offline, please visit an IDFC First Bank branch of your choice and fill up the form. Carry your KYC documents, like your Aadhar and PAN cards, for verification.
Once you do this, all you have to do is use your IDFC First Bank login and password to use IDFC net banking.
What are the Top Services Offered by IDFC Net Banking?
Here’s an overview of what you can do with IDFC net banking once you sign in using your unique IDFC First bank net banking login.
- View account summary and mini statements.
- View transaction history from the date you made your first transaction until the date you made your latest. You can also set custom dates to view your statement.
- Change internet banking and debit card passwords if you have trouble using your IDFC net banking login or IDFC mobile banking login. This is a good habit to practice every few months.
- Block or unblock debit cards or credit cards instantly.
- Start investing in mutual funds online.
- Invest in fixed deposits (FDs) and recurring deposits (RDs) online.
- Transfer funds within the bank and to third-party accounts using RTGS, IMPS, and NEFT.
- Request a new chequebook online.
- Update phone number, email ID, and PAN online.
- Temporarily or permanently block debit card PIN.
- Pay utility bills online.
5 Benefits of Using IDFC Net Banking
In this day and age, when everything is online, not using net banking might put you at a disadvantage. If you are still not convinced, we have listed down 5 benefits of using IDFC net banking that might help.
- You can transfer funds to anyone at any time using IMPS. You can also use other fund transfer services, such as NEFT and RTGS, seamlessly.
- You no longer have to worry about your bank branch’s working hours and have a personalised bank on the go, 24×7.
- It makes other banking-related transactions a breeze. For example, ordering a new chequebook or viewing your account statement.
- It is highly secure. IDFC net banking cannot be accessed without a password and user id. It will also require an OTP for transactions.
- You can also pay bills, taxes etc., easily using IDFC net banking.
Banking at Your Fingertips
IDFC First Bank has 670 branches, 249 asset service centres, 812 ATMs and 606 rural business correspondent centres across India as of November 2022. But despite this convenience, net banking takes the cake.
Did we tell you the best part about IDFC net banking? It is completely free. There are charges levied on a few services, for example, requesting a password’s physical copy, but those are not necessary services.
To learn more about IDFC net banking, you can click here.
Q. What are the charges incurred on money transfers using NEFT/RTGS/IMPS?
No charges are incurred on NEFT/RTGS/IMPS transactions.
Q. What is a ‘beneficiary’? How to add a beneficiary using IDFC net banking?
A ‘beneficiary’ in IDFC net banking is someone to whom you wish to send money. A ‘beneficiary’ has account details, IFSC code, beneficiary name etc. Here’s how you can add a ‘beneficiary’:
- Log in to your IDFC FIRST Bank Net Banking account.
- Click on ‘Funds Transfer’ and select ‘Add Beneficiary.’
- Choose the type of beneficiary you want to add and provide the necessary details.
- Enter the OTP that you receive on your registered mobile number.
- Once you submit the OTP, you will receive a notification on your registered mobile number confirming that the beneficiary has been successfully added to your account.
- Please note that the beneficiary will be activated after 30 minutes of being successfully added to the account.
Q. What type of transactions can be done using IDFC net banking?
You can do an MPSNEFT/RTGS fund transfer to your account or any third-party account using IDFC net banking. You can also carry out billing transactions for utility payments, recharges etc.
Q. How can I reset/retrieve my IDFC net banking password?
To reset your password on the IDFC FIRST Bank website, follow these steps:
1. Go to the IDFC FIRST Bank website and click on the ‘Login’ button.
2. Click on the ‘Forgot Password’ option.
3. Enter your username and mobile number.
4. Enter the OTP that you received on your registered mobile number.
5. Enter a new password and click on the ‘submit’ button.
Q. What are the benefits of using IDFC net banking?
You can bank on the go or from the convenience of your home, 24×7. You don’t have to worry about banking hours. Also, you can conveniently transfer funds to your account or any third-party account in minutes using your phone or computer. It is also extremely secure.