IDFC First Bank Revises Interest Rates On FD, Check New Rates Here

With impact from May 1, private sector lender IDFC First Bank has modified interest rates on fixed deposits (FDs). Short-term FDs are available from seven days to one year, and long-term FDs are available from one to ten years at IDFC First Bank. For deposits with a term of 7 days to ten years, IDFC First Bank offers interest rates ranging from 2.75 percent per annum to 6 percent per annum after the latest revision. IDFC First Bank pays a 2.75 percent interest rate on FDs with terms of seven to fourteen days. The bank offers a 3.50 percent interest rate for 15-29 days and a 3% interest rate for 30-45 days. 4.00 percent on deposits maturing in 46-90 days, and 4.50 percent on deposits maturing in 91-180 days. IDFC First Bank offers 5.25 percent for FDs maturing in 181 days or less than a year. The bank pays 5.50 percent on term deposits for a maturity period of one or two years. IDFC First Bank also offers 5.75 percent for 2 years 1 day - 3 years. Long-term deposit interest rates at IDFC First Bank range from 6% to 5.75 percent for 3 to 5 year deposits and 6% to 5.75 percent for 5 to 10 year deposits.

IDFC First Bank FD Rates

Tenure	Regular FD Rates	Senior Citizen FD Rates
7 - 14 days	2.75%	3.25%
15 - 29 days	3.00%	3.50%
30 - 45 days	3.50%	4.00%
46 - 90 days	4.00%	4.50%
91 - 180 days	4.50%	5.00%
181 days - less than 1 year	5.25%	5.75%
1 year - 2 years	5.50%	6.00%
2 years 1 day - 3 years	5.75%	6.25%
3 years 1 day - 5 years	6.00%	6.50%
5 years 1 day - 10 years	5.75%	6.25%
Source: Bank Website

Note

The bank has also cut its savings account interest rates as of May 1st. For those with deposits under Rs 1 lakh, IDFC First Bank will pay 4% interest after the most recent adjustment. The interest rate will be 4.5 percent for those who have a balance between Rs 1 lakh and Rs 10 lakh. Those with a balance of between Rs 10 lakh and Rs 2 crore will get the maximum interest rate of 5% respectively.