Investor Education
IDFC First Bank Fixed Deposit Interest Rates
IDFC First Bank Fixed Deposit Interest Rates 2023 – Earn up to 8% Returns on your Deposits
Do you have savings sitting idle in your bank account? Would you like to earn a decent return on them? Then how about parking a part or all of your savings in a fixed or term deposit? Fixed deposits are a perfect option for those who find securities and other asset classes too volatile. These are safe investment instruments that earn a fixed return on deposits. IDFC First Bank – one of the emerging private sector banks in India – offers FD facilities that meet the diverse needs of depositors. Here you will find all the information you need regarding IDFC First Bank fixed deposit interest rates, deposit terms, and more. These details will help you make wise decisions regarding your IDFC First Bank term deposits.
Latest IDFC First Bank FD Rates
IDFC First Bank fixed deposit interest rates vary depending on several factors. These include the duration of the deposit as well as the deposit amount. In addition, IDFC First Bank fixed deposit rates also depend on the age of the depositor. For instance, senior citizens – people who are aged 60 years or above – enjoy 0.50 percent higher FD interest rates on their term deposits with the IDFC First Bank.
Here are the latest IDFC First Bank FD rates for deposits of up to INR 2 crores.
| Tenure | Per Annum Interest Rate | Per Annum Interest Rates for Senior Citizens |
| 7 to 14 days | 3.50 | 4.00 |
| 15 to 29 days | 3.50 | 4.00 |
| 30 to 45 days | 4.00 | 4.50 |
| 46 to 90 days | 4.50 | 5.00 |
| 91 to 180 days | 5.00 | 5.50 |
| 181 to 366 days | 6.75 | 7.25 |
| 367 days to 18 months | 7.25 | 7.75 |
| 18 months & 1 day to 3 years | 7.50 | 8.00 |
| 3 years & 1 day to 5 years | 7.00 | 7.50 |
| 5 years & 1 day to 10 years | 7.00 | 7.50 |
The higher your deposit amount, the higher IDFC First Bank FD interest rate you can earn. The rates for deposits of more than INR two crores reiterate this fact. Here are the IDFC Bank fixed deposit interest rates of deposits of INR 2 to 25 crores. Please note that these are for Domestic, NRE, and NRO Interest rates with premature withdrawal facility.
| Tenure | Per Annum Interest Rates (INR 2 Cr to 5 Cr) | Per Annum Interest Rates (INR 5 Cr to 10 Cr) | Per Annum Interest Rates (INR 10 Cr to 15 Cr) | Per Annum Interest Rates (INR 15 Cr to 25 Cr) |
| 7 to 14 days | 5.40 | 5.40 | 5.40 | 5.40 |
| 15 to 35 days | 5.40 | 5.40 | 5.40 | 5.40 |
| 36 to 45 days | 5.65 | 5.65 | 5.65 | 5.65 |
| 46 to 60 days | 5.65 | 5.65 | 5.65 | 5.65 |
| 61 to 91 days | 6.15 | 6.15 | 6.15 | 6.15 |
| 92 to 180 days | 6.80 | 6.80 | 6.80 | 6.80 |
| 181 to 270 days | 6.90 | 6.90 | 6.90 | 6.90 |
| 271 to 365 days | 7.25 | 7.25 | 7.25 | 7.25 |
| 366 to 399 days | 7.40 | 7.40 | 7.40 | 7.40 |
| 400 to 499 days | 7.30 | 7.30 | 7.30 | 7.30 |
| 500 to 540 days | 7.30 | 7.30 | 7.30 | 7.30 |
| 541 to 731 days | 7.30 | 7.30 | 7.30 | 7.30 |
| 732 to 1095 days | 7.20 | 7.20 | 7.20 | 7.20 |
| 3 years & 1 day to 5 years | 7.10 | 7.10 | 7.10 | 7.10 |
| 5 years & 1 day to 8 years | 7.10 | 7.10 | 7.10 | 7.10 |
| 8 years & 1 day to 10 years | 7.10 | 7.10 | 7.10 | 7.10 |
While IDFC First Bank FD interests rates for the duration of up to 180 days are on simple interest basis, all other interest rates are compounded on a quarterly basis. Senior citizens can enjoy 0.50 percent higher interest rates on their deposits. However, these higher interest rarest are not available for NRE or NRO fixed deposits.
Features and Benefits of IDFC First Bank Fixed Deposits
- Earn a higher rate of interest on your deposits
- Deposit tenure ranges from seven days to ten years
- Senior citizens get 0.50 percent higher returns
- Monthly and quarterly interest payout options available
- Overdraft facility on select fixed deposit types
- Tax is deducted at source as per the Income Tax Act
- Tax Saving with IDFC First Bank Fixed Deposit
Tax exemption of up to INR 1,50,000 is available for deposits under Section 80C of the Income Tax Act, 1961. The minimum duration for tax saver IDFC First Bank FDs is five years.
Frequently Asked Questions about IDFC First Bank Fixed Deposit Interest RatesQ. Are IDFC First Bank FD interest rates higher for senior citizens?
A. Yes, senior citizens can enjoy 0.50 percent higher interest rates on their term deposits with IDFC First Bank.
Q. What is the minimum duration for a fixed deposit with IDFC First Bank?
A. You can open an IDFC First Bank fixed deposit account for a period of just seven days, earning 3.50 percent per annum interest on your deposit. Please note that this rate is applicable on deposits of up to two crores only.
Q. What is the minimum amount to open an IDFC First Bank fixed deposit account?
A. The minimum deposit amount depends on your mode of opening the FD. While the minimum amount for opening a fixed deposit account at an IDFC First Bank branch is INR 10,000, you can create an FD with just INR 1000 through the bank’s net or mobile banking services.