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IDFC Bank FD Rates

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.

IDFC First Bank FD Rates for 2019

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.

Rates for Domestic, NRE & NRO Deposits less than INR 2 Crores

FD TenureRate of Interest (%p.a.) w.e.f March 06, 2019 Less than INR 2 Cr
7 - 14 Days4.00%
15 - 29 Days5.00%
30 - 45 Days6.25%
46 - 90 Days6.50%
91 - 180 days6.75%
181 days - less than 1 year7.00%
1 year 8.00%
1 year 1 day - 2 years7.75%
2 years 1 day - 5 years 7.75%
5 year 1 day - 10 years7.75%
Tax Saver Deposit (Only for Domestic Deposits) 5 Years 8.25%
  1. Minimum tenure for NRE Deposits is 365 days and NRO/ Domestic Deposits is 7 days.
  2. Senior Citizens get an additional spread of 0.50% over the above rate but will not be available for NRE or NRO Fixed Deposits.
  3. Rates up to 180 days are on simple interest basis. Interest on tenor above 180 days is payable/compounded on a quarterly basis.

Foreign Currency Non Resident (FCNR) Deposits

(Effective from 22/12/2018)

1 Yr to < 2 Yrs3.79%1.85%0.30%2.75%2.75%
2 Yrs to < 3 Yrs3.53%2.00%0.40%NANA
3 Yrs to < 4 Yrs4.05%NANANANA
4 Yrs to < 5 Yrs3.85%NANANANA
5 Yrs only3.65%NANANANA
  1. 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.

  2. No interest will be paid if the FCNR Deposit is prematurely withdrawn within 1 year of deposit creation.

Features of IDFC First Bank Fixed Deposit

Mentioned below are the features of IDFC Bank Fixed Deposit:

  1. Rate of interest is compounded quarterly.
  2. It is a suitable and safe investment option with low risk.
  3. The FD comes with competitive and attractive rates.
  4. Loan against FD facility is available.
  5. IDFC Bank has a wide number of branches across rural/semi-urban and urban areas.
  6. Nomination facility is available.
  7. No charges on premature withdrawal.
  8. Online/mobile banking can be availed to open an FD.
  9. Senior citizens are entitled to an additional 0.50% rate of interest.

Eligibility Criteria for IDFC First Bank FDs

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.

FAQs on IDFC First Bank FD Rates

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.