IDFC First Bank, which was formerly known as IDFC Bank, is the official retail banking division of Infrastructure Development Finance Company (IDFC). The IDFC is one of the pioneering finance companies in India, offering finance and advisory services for infrastructure projects, asset management and investment banking.
One of the popular products offered by IDFC Bank to individual investors is that of a Fixed Deposit.
Note: The FD rates have been sourced from the official website of IDFC Bank. Please note that Interest Rates are subject to change, without notice, as per the market trends and the bank’s decision in this regard is final.
| FD Tenure | Rate of Interest (%p.a.) w.e.f March 06, 2019 Less than INR 2 Cr |
|---|---|
| 7 - 14 Days | 4.00% |
| 15 - 29 Days | 5.00% |
| 30 - 45 Days | 6.25% |
| 46 - 90 Days | 6.50% |
| 91 - 180 days | 6.75% |
| 181 days - less than 1 year | 7.00% |
| 1 year | 8.00% |
| 1 year 1 day - 2 years | 7.75% |
| 2 years 1 day - 5 years | 7.75% |
| 5 year 1 day - 10 years | 7.75% |
| Tax Saver Deposit (Only for Domestic Deposits) 5 Years | 8.25% |
(Effective from 22/12/2018)
| FCNR Tenure | USD | GBP | EUR | AUD | SGD |
|---|---|---|---|---|---|
| 1 Yr to < 2 Yrs | 3.79% | 1.85% | 0.30% | 2.75% | 2.75% |
| 2 Yrs to < 3 Yrs | 3.53% | 2.00% | 0.40% | NA | NA |
| 3 Yrs to < 4 Yrs | 4.05% | NA | NA | NA | NA |
| 4 Yrs to < 5 Yrs | 3.85% | NA | NA | NA | NA |
| 5 Yrs only | 3.65% | NA | NA | NA | NA |
The interest is calculated on a half yearly basis. Interest for reinvestment deposit is calculated every 6 months and the Principal is increased to include interest earned during the previous 6 months.
No interest will be paid if the FCNR Deposit is prematurely withdrawn within 1 year of deposit creation.
Mentioned below are the features of IDFC Bank Fixed Deposit:
Any citizen who has a relationship/savings account with the bank can open an FD. If you do not have an existing relationship, the bank will give you a complimentary savings account upon open an FD. This is also applicable to HUFs, joint families, trusts, minors, society, cooperative institutions, educational institutions, limited companies and partnership firms.
Fixed Deposit Interest Rates for other Banks:
What is the interest rate that IDFC First Bank Fixed Deposit offers on senior citizens FDs?
The interest rate offered by IDFC First Bank to senior citizens is 0.50% additional to the rates offered to the normal citizens.
Can I make alterations to the tenure of my ongoing IDFC Bank Fixed Deposit?
No, you cannot make any alterations to the tenure of your ongoing FD.
Can I open an IDFC First Bank Fixed Deposit account without a PAN card?
You can open an IDFC First Bank Fixed Deposit account without a PAN Card, but will have to pay TDS @ 20%, as opposed to 10%, in case you had a PAN Card.
What is the highest interest rate that is offered by the IDFC Bank Fixed Deposit?
The highest interest rate offered by IDFC First Bank FD is 8.25% for a tenure of 731 days.
What is the minimum amount required to start an IDFC Bank Fixed Deposit account?
The minimum amount required to open an FD with IDFC First Bank is ₹1,000.
