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IDFC First FD Interest Rates Revised

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IDFC First Bank revised the interest rates on its fixed deposits (FDs) with effect from 1 July 2019. The private lender offers term deposits for short as well as long-term with tenures ranging between 7 days to 10 years.

 

After the revision, the highest interest rate is being offered for fixed deposits of a 2-year tenure at 8.50 percent.

IDFC First FD Interest Rates Revised

Here are the interest rates on domestic, NRE and NRO fixed deposits less than Rs 2 crore with effect from 1 July 2019-

TenureInterest rates
7 - 14 days4.00%
15 - 29 days5.00%
30 - 45 days6.25%
46 - 90 days6.50%
91 - 180 days6.75%
181 days - 1 year7.00%
1 year 1 day - less than 2 years7.75%
2 years8.50%
2 years 1 day - 5 years7.50%
5 year 1 day - 10 years7.25%

Non-Resident Rupee (NRE) and Non-Resident Ordinary Rupee (NRO) are applicable for non-resident Indians (NRIs) who wish to make fixed deposits at the IDFC First Bank.

However, the 5-year tax saver deposits are only available for Indian residents. The revised interest rate on it is-

TenureInterest rate
5 years7.75%

IDFC First Bank was formed after a merger between non-banking financial company Capital First and IDFC Bank. The merger became effect from 12 January 2019. It has 203 bank branches, 129 ATMs and 454 rural business correspondent centres.

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