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%.
