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IDFC First Bank Revises Interest Rates On FD & RD: Now Get Up To 6% Returns
IDFC First Bank has revised its interest rates on Domestic, NRE & NRO Term Deposits, Tax Saver Deposits and Domestic, NRE & NRO Recurring Deposits. According to the bank's official website, the new rates are in force from November 23, 2021. Regular customers will receive the maximum interest rate of 6%, while senior citizens will receive 6.50 percent on their fixed deposits maturing in 3 years to less than 10 years, according to the most recent adjustment. On deposits of less than Rs 2 Cr, IDFC First Bank is now offering the following interest rates on fixed and recurring deposits respectively.
IDFC First Bank FD Rates
On fixed deposits of less than Rs 2 Cr maturing in 7 days to 29 days, regular customers will now get an interest rate of 2.50%. On deposits maturing in 30 days to 90 days and 91 - 180 days, the general public will now receive an interest rate of 2.75% and 3.25% respectively. Whereas fixed deposits maturing in 181 days - less than 1 year and 1 year - 2 years will now fetch an interest rate of 4.75% and 5.25% respectively. Regular customers will now get an interest rate of 5.75% and 6.00% on their deposits maturing in 2 years 1 day - 3 years and 3 years 1 day to less than 10 years.
| Period | Rate of Interest (%p.a.) w.e.f. November 23, 2021 Less than INR 2 Crores |
|---|---|
| 7 - 14 days | 2.50% |
| 15 - 29 days | 2.50% |
| 30 - 45 days | 2.75% |
| 46 - 90 days | 2.75% |
| 91 - 180 days | 3.25% |
| 181 days - less than 1 year | 4.75% |
| 1 year - 2 years | 5.25% |
| 2 years 1 day - 3 years | 5.75% |
| 3 years 1 day - 5 years | 6.00% |
| 5 years Tax Saver Deposit | 6.00% |
| 5 years 1 day - 10 years | 6.00% |
| Source: Bank Website |
IDFC First Bank FD Rates For Senior Citizens
On their domestic term deposits, senior citizens will continue to get an additional rate of 0.50% over the rate applicable to the general public. Following the most recent revision made on fixed deposit interest rates by the bank, senior citizens will now have interest rates of 3.00% to 6.50% on their deposits maturing in 7 days to less than 10 years.
| Period | Rate of Interest (%p.a.) |
|---|---|
| 7 - 14 days | 3.00% |
| 15 - 29 days | 3.00% |
| 30 - 45 days | 3.25% |
| 46 - 90 days | 3.25% |
| 91 - 180 days | 3.75% |
| 181 days - less than 1 year | 5.25% |
| 1 year - 2 years | 5.75% |
| 2 years 1 day - 3 years | 6.25% |
| 3 years 1 day - 5 years | 6.50% |
| 5 years Tax Saver Deposit | 6.50% |
| 5 years 1 day - 10 years | 6.50% |
| Source: Bank Website |
IDFC First Bank Recurring Deposit (RD) Rates
On November 23, 2021, the bank also adjusted its interest rates on domestic, NRE, and NRO recurring deposits (RD) which are as follows.
| Period (in Months) | Rate of Interest (%p.a.) w.e.f. November 23, 2021 |
|---|---|
| 6 months | 3.25% |
| 9 months | 4.75% |
| 12 months | 5.25% |
| 15 months | 5.25% |
| 18 months | 5.25% |
| 21 months | 5.25% |
| 24 months | 5.25% |
| 27 months | 5.75% |
| 36 months | 6.00% |
| 39 months | 6.00% |
| 48 months | 6.00% |
| 60 months | 6.00% |
| 90 months | 6.00% |
| 120 months | 6.00% |
| Source: Bank Website |
