IDFC First Bank FD Interest Rates (p.a.) Highlights 2022 | |
| Highest slab rate | 6.25% (for 3 years 1 day to 5 years) |
| For 1 year | 5.75% |
| For 2 year | 5.75% |
| For 3 year | 6.00% |
| For 4 year | 6.25% |
| For 5 year | 6.25% |
| Tax-Saving FD | 6.25% |
IDFC First Bank FD Rates
Fixed Deposit Rates for Domestic/NRE/NRO Deposits of less than Rs 2 crore w.e.f. 21 January, 2022
| Tenure | Interest Rates (p.a.) | |
| Regular Citizens | Senior Citizens | |
| 7-14 days | 2.50% | 3.00% |
| 15-29 days | 2.50% | 3.00% |
| 30-45 days | 3.00% | 3.50% |
| 46 days-90 days | 3.00% | 3.50% |
| 91-180 days | 3.50% | 4.00% |
| 181 days – less than 1 year | 4.75% | 5.25% |
| 1 year-2 years | 5.75% | 6.25% |
| 2 years 1 day – 3 years | 6.00% | 6.50% |
| 3 years 1 day – 5 years | 6.25% | 6.75% |
| 5 years 1 day – 10 years | 6.00% | 6.50% |
Note: 1. Addtional Senior citizens interest rates will not be applicable for NRO or NRE Fixed Deposits.
- The minimum tenure for NRE deposits is 365 days
IDFC Tax Saver Deposit w.e.f. 21 January, 2022
| Tenure | Regular Citizens | Senior Citizens |
| 5 Years (only for domestic deposits) | 6.25% | 6.75% |
Interest Rates on FCNR deposits of upto 1 million w.e.f. 21 January, 2022
| Tenure | Interest Rates (p.a.) | ||||
| USD | GBP | EUR | AUD | SGD | |
| 1 year to less than 2 years | 0.75% | 0.30% | 0.10% | 0.50% | 0.50% |
| 2 years to less than 3 years | 1.25% | 0.35% | 0.15% | NA | NA |
| 3 years to less than 4 years | 1.75% | NA | NA | NA | NA |
| 4 years to less than 5 years | 3.25% | NA | NA | NA | NA |
| 5 years only | 1.00% | NA | NA | NA | NA |
Interest Rates on FCNR deposits of above 1 million w.e.f. 05 March, 2021
| Tenure | Interest Rates (p.a.) | ||||
| USD | GBP | EUR | AUD | SGD | |
| 1 year to less than 2 years | 0.01% | 0.01% | NA | NA | NA |
| 2 years to less than 3 years | 0.01% | 0.01% | NA | NA | NA |
| 3 years to less than 4 years | 0.01% | NA | NA | NA | NA |
| 4 years to less than 5 years | 0.01% | NA | NA | NA | NA |
| 5 years only | 0.01% | NA | NA | NA | NA |
Types of IDFC First Bank FD Schemes
Regular Fixed Deposit (Reinvestment of Interest Component)
- This scheme allows reinvestment of the interest component to the deposit amount
- Minimum deposit amount: Rs 10,000
- Interest rates will be calculated on a “simple interest” basis for up to 180 days.
- In the case of tenors above 180 days, interest is payable and compounded on a quarterly basis
- This scheme allows depositors to reinvest the interest earned on their deposit amount to earn higher yields
- In the case of monthly interest pay-out option, the interest will be calculated for the quarter and paid monthly at a discounted rate over the standard fixed deposit rate
- Additional interest rates of 50bps are offered to senior citizen depositors
NRE Fixed Deposit
- Tenure: 1 year – 10 years
- Interest on deposits is compounded every 90 days and paid on maturity
- Depositors can opt for a monthly or quarterly payout option
- Amount from NRE deposits is freely repatriable
NRO Fixed Deposit
- Tenure: 7 days – 10 years
- Interest is compounded every 90 days and paid at maturity
- Monthly or quarterly payout option is also available
- Deposits can be repatriated with a limit of USD 1 million in one financial year, after the payment of applicable taxes
FCNR Fixed Deposit
- Tenure: 1 year – 5 years
- This FD scheme can be opened in the following currencies: US Dollar (USD), Pound Sterling (GBP), Euro (EUR), Australian Dollar (AUD) and Singapore Dollar (SGD)
- Interest on deposits is compounded at intervals of 180 days each and thereafter for the remaining actual number of days
- The principal and interest amount are both freely and completely transferable
Premature Withdrawal of Fixed Deposits
- Premature withdrawal of deposits is allowed, subject to a penalty of 1%. However, this is not applicable to FDs of government, quasi-government, regulatory or statutory bodies
- Interest will be paid on the basis of the interest rate applicable at the time of opening the fixed deposit, for the corresponding period for which FD has remained with the bank
- The above mentioned penal rate will be applicable to all FDs booked and/or renewed on or after May 2, 2019
IDFC First Bank Fixed Deposit Calculator
Investors can check the maturity amount of the scheme by using the FD Interest Rate Calculator at Paisabazaar.com. Also, IDFC Bank FD rates differ for different tenures. So, investors can use FD calculator available online at Paisabazaar.com to calculate and compare potential returns. Investors can calculate their potential returns by providing details like deposit amount, FD Rate and deposit tenure.
FAQs
Q. What is the minimum amount that can be invested in IDFC First Bank fixed deposit?
A. The minimum amount that can be deposited in an FD scheme is Rs 10,000.
Q. What is the maximum amount that can be invested in IDFC First Bank’s fixed deposit?
A. The maximum amount that can be deposited is up to Rs. 10 crores in an FD scheme.
Q. What is the maximum amount that can be invested in IDFC First Bank Tax Saver fixed deposit scheme?
A. The maximum amount that the depositors can submit is Rs 1.5 lakh in the Tax Saver fixed deposit scheme.
Q. What is the minimum and maximum tenure for which the deposit can be made?
A. The minimum tenure for FD schemes is 7 days whereas the maximum tenure for which fixed deposits can be booked is 10 years. Tax Saver fixed deposits have a lock-in period of 5 years with no premature withdrawal.
Q. Do senior citizens get additional interest rates on deposits?
A. Senior citizens get an additional of 0.50% on deposits made below Rs.10 crore. To avail preferential interest rates, the depositor has to provide the age proof and he should be an Indian resident. Non-resident senior citizens cannot avail preferential interest rates.
