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This Bank's FD Interest Rates Are The Best

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Among all the commercial banks, the fixed deposit (FD) interest rates IDFC First Bank are the best. The Bank is not a small savings bank and is a full fledged commercial bank. The interest rates are the best from among commercial banks in the country. Take a look.

A 2-year deposit fetches an interest rate of 8.50 per cent, while senior citizens can receive an interest rate of 9 per cent. Take a look at the interest rates on the various other tenures. Do also remember that the interest rates are subject to a tax deduction at source if the interest amount crosses a sum of Rs 10,000 every year.

This Bank's FD Interest Rates Are The Best
 

Minimum tenure for NRE Deposits is 365 days and NRO/ Domestic Deposits is 7 days. No interest is payable where deposit has not been in place for applicable minimum tenure.

Interest Rates on Deposits & Advances

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

Period Rate of Interest (%p.a.) w.e.f July 1, 2019 Less than INR 2 Crores
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 - 1 year 7.00%
1 year 1 day - less than 2 years 7.75%
2 years 8.50%
2 years 1 day - 5 years 7.50%
5 year 1 day - 10 years 7.25%
Tax Saver Deposit (Only for Domestic Deposits) Rate of Interest (%p.a.) w.e.f July 1, 2019 Less than INR 2 Crores
5 Years 7.75%

Most of the commercial banks in the country are offering an interest rate of around 7 to 7.5 per cent. Against this backdrop, the interest rate offered by IDFC Bank is not bad at all. For investors with a 2-year time frame in mind, this deposit is a good bet.

Check FD interest rates of all banks here

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