IDFC First Bank FD Interest Rates Revision: Know New Rate?

According to its official website, IDFC FIRST Bank has revised fixed deposit interest rates on balances below Rs 2 crore and savings account interest rates. The new FD interest rates are effective from May 15, 2024.

Accordingly, the bank currently offers interest rates ranging from 3% to 7.90% to the general public on deposits with maturities ranging from 7 days to 10 years.

For senior citizens, the bank offers an additional spread of 0.50% per annum. Maximum interest rate is 8% and 8.40% for 500 days.

Deposit period Interest Rate (%)
7-14 days 3.00%
15-29 days 3.00%
30-45 days 3.00%
46-90 days 4.50%
91-180 days 4.50%
By the year 181-1 5.75%
1 year 6.50%
1 year 1 day-499 days 7.50%
500 days 7.90%
510 days-548 days 7.50%
549 days 7.75%
2 years and 1 day 7.25%
3 years and 1 day 7.00%
5 years and 1 day 7.00%
5 Year Deposit (Tax Savings FD) 7.00%

Savings Account Interest Rate

savings Interest rate
1 lakh Rs 3.00%
Rs.1-3 lakhs 3.50%
Rs.3-5 lakhs 4.00%
Rs.5-10 lakhs 7.00%
Rs.10 lakhs- Rs.5 crores 7.25%
Rs.5 crore- Rs.50 crore 7.00%
Rs.50 crore- Rs.100 crore 5.00%
Rs.100 crore – Rs.200 crore 4.50%
More than Rs.200 crores 3.50%

That means if the customer has Rs.25 thousand in the bank account, the customer will get 3 percent interest. At the same time, your account balance is Rs. 50 lakhs, the interest payable to you is Rs. It is noteworthy that it will be 3%.

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