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Now Get Monthly Interest Credit Facility On Your Savings Account From This Bank: Check Details

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Savings account interest rates are usually determined daily based on the average balance or amount of your account. This interest is credited monthly, yearly, or quarterly, depending on the bank and the interest rate may not be credited if the minimum balance limit is not maintained by the account holder. In order to get monthly interest credit on your account, IDFC Bank had recently unveiled a new facility for the savings account holders.

 
Now Get Monthly Interest Credit Facility On Your Savings Account From This Bank

On all savings bank accounts, the bank officially launched a monthly interest credit facility. Interest on savings bank accounts will be credited on a monthly basis commencing July 1, 2021, according to the official website of the bank. Regarding the same, the bank has also stated on its official website that "Monthly interest credit to your savings account. Monthly compound interest. Did you know that our Bank gives you MONTHLY interest credits versus the industry norm of QUARTERLY interest credit?" The bank has listed out the following 4 points for the betterment of savings account holders:

  • You are earning Interest on Interest with IDFC FIRST Bank!
  • In other words, your savings with IDFC FIRSTBank is compounded monthly.
  • Over time, it makes a huge difference to your earnings.
  • What's more? You also earn more at our high savings account interest rates of 4-5% for balances less than Rs. 2 crores, as compared to about 3-3.5% at leading banks.
  • Industry-best giveaways!

Special Features of IDFC First Savings Accounts With Monthly Interest Credit Facility

Special FeaturesAverage Monthly Balance of Rs 10,000Average Monthly Balance of Rs 25,000
Personal Accident Insurance2,00,00035,00,000
ATM Withdrawal5 FREE transactions monthlyUnlimited FREE withdrawals
Daily ATM Withdrawal Limit1,00,0002,00,000
Daily Purchase Limit (POS)1,50,0006,00,000
Air Accident InsuranceNIL1,00,00,000
Airport Lounge AccessNILComplimentary 2 per quarter
Lost Card Liability50,0006,00,000
Purchase ProtectionNIL1,00,000
Debit CardFREE - VISA ClassicFREE - VISA Signature
IMPSFREEFREE
Cheque BookFREEFREE
Source: IDFC First Bank

IDFC First Bank Savings Account Interest Rates

With effect from 1.05.2021, IDFC First Bank is providing the following interest rates on savings accounts and will be credited on the first date of every month to all savings bank accounts.

 
On Balances In RsRate of Interest (% p.a.)
1Lac4.00%
1lac to 10lac4.50%
10lac to 2Cr5.00%
2Cr to 10Cr4.00%
10Cr to 100Cr3.50%
More than 100 Cr3.00%
Source: IDFC First Bank

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