IDFC First Bank Revises Interest Rates On Fixed Deposits of Less Than Rs. 2 Cr

IDFC First Bank, a private sector lender, has adjusted its interest rates on domestic, NRE, and NRO deposits of less than Rs. 2 Cr. The new rates enter into force today, January 21, 2022, and the bank now promises an interest rate of 2.50 percent to 6.00 percent to the general public and 3.00 percent to 6.50 percent to senior citizens on domestic term deposits maturing in 7 days to 10 years as a result of the exclusive modification.

IDFC First Bank Fixed Deposit Interest Rates For Non-Senior Citizens

IDFC First Bank is offering a 2.50 percent interest rate on domestic term deposits maturing in 7-14 days and 15-29 days to the general public as of January 21, 2022. Non-senior citizens will now get a 3.00 percent interest rate on deposits maturing in 30 to 90 days. Domestic term deposits maturing in 181 days - less than one year will now offer 4.75 percent interest, while deposits maturing in one year - two years will fetch 5.75 percent interest. Regular citizens will now get an interest rate of 6.00%, 6.25% and 6.00% on their domestic term deposits of less than Rs. 2 Cr maturing in 2 years 1 day - 3 years, 3 years 1 day - 5 years and 5 years 1 day - 10 years. IDFC First Bank is currently giving a 6.25 percent interest rate to the general public on domestic tax saver fixed deposits of up to Rs. 1.5 lakh maturing in 5 years.

Tenor	Regular Rate of Interest (%p.a.)
7 - 14 days	2.50%
15 - 29 days	2.50%
30 - 45 days	3.00%
46 - 90 days	3.00%
91 - 180 days	3.50%
181 days - less than 1 year	4.75%
1 year - 2 years	5.75%
2 years 1 day - 3 years	6.00%
3 years 1 day - 5 years	6.25%
5 years 1 day - 10 years	6.00%
Source: Bank Website. W.e.f. 21st January 2022

IDFC First Bank Fixed Deposit Interest Rates For Senior Citizens

Senior citizens will continue to get an additional rate of 0.50% over and above the card rate applicable to non-senior citizens. On their deposits maturing in 7 days to 10 years, senior citizens will now get the following interest rates effective as of 21st January 2022.

Tenor	Rate of Interest (%p.a.) for Senior Citizens
7 - 14 days	3.00%
15 - 29 days	3.00%
30 - 45 days	3.50%
46 - 90 days	3.50%
91 - 180 days	4.00%
181 days - less than 1 year	5.25%
1 year - 2 years	6.25%
2 years 1 day - 3 years	6.50%
3 years 1 day - 5 years	6.75%
5 years 1 day - 10 years	6.50%
Source: Bank Website. W.e.f. 21st January 2022

IDFC First Bank Recurring Deposit Interest Rates

IDFC First Bank has also updated interest rates on Domestic, NRE & NRO recurring deposits maturing in 6 months to 120 months. The bank is providing the following interest rates on recurring deposits as of January 21, 2022.

Tenor	Regular Rate of Interest (%p.a.)	Rate of Interest (%p.a.) for Senior Citizens
6 months	3.50%	4.00%
9 months	4.75%	5.25%
12 months	5.75%	6.25%
15 months	5.75%	6.25%
18 months	5.75%	6.25%
21 months	5.75%	6.25%
24 months	5.75%	6.25%
27 months	6.00%	6.50%
36 months	6.25%	6.75%
39 months	6.25%	6.75%
48 months	6.25%	6.75%
60 months	6.25%	6.75%
90 months	6.00%	6.50%
120 months	6.00%	6.50%
Source: Bank Website. W.e.f. 21st January 2022

Note

Here is the list of other banks that have also revised their interest rates on fixed deposits of less than Rs. 2 Cr in the month of January till date.

• State Bank of India (SBI)
• Yes Bank
• Capital Small Finance Bank
• Kotak Mahindra Bank
• Jammu and Kashmir Bank
• HDFC Bank
• Karur Vysya Bank
• Bandhan Bank
• IDBI Bank
• Ujjivan Small Finance Bank
• Canara Bank
• Jana Small Finance Bank
• Federal Bank
• Axis Bank
• ICICI Bank
• Utkarsh Small Finance Bank
• South Indian Bank