IDFC First Bank FD Interest Rates

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IDFC First Bank FD Rates for Senior Citizens & Non-Senior Citizens

IDFC Bank FD rates start at 3.50% per annum, and progressively increase with the tenor of the deposit. In the case of senior citizens at or above the age of 60, an additional rate of 0.5% per annum is offered. The tenor of the deposit can range from 7 days to 10 years.

If you’re planning on investing in an IDFC First Bank FD in the near future, it is crucial for you to be aware of the current IDFC Bank FD rates. Check out the table below to get a comprehensive overview of the prevailing interest rates including the IDFC Bank FD rates for senior citizens.

Tenor	IDFC Bank Non-Senior Citizen FD Interest Rates	IDFC Bank Senior Citizen FD Interest Rates
7 days to 14 days	3.50% per annum	4.00% per annum
15 days to 29 days	3.50% per annum	4.00% per annum
30 days to 45 days	4.00% per annum	4.50% per annum
46 days to 90 days	4.00% per annum	4.50% per annum
91 days to 180 days	4.50% per annum	5.00% per annum
180 days to 364 days	5.75% per annum	6.25% per annum
365 days to 500 days	6.25% per annum	6.75% per annum
501 days to 749 days	6.75% per annum	7.25% per annum
750 days	7.25% per annum	7.75% per annum
751 days to 3 years	6.50% per annum	7.00% per annum
3 years and 1 day to 5 years	6.50% per annum	7.00% per annum
5 years and 1 day to 10 years	6.00% per annum	6.50% per annum

Deposit Amount

₹

Tenure

Months

Interest Rate

Interest Payout

Your Total Maturity Amount is

Total Maturity Amount

Total Investment

Total Interest Earned

Features and Benefits of an IDFC Bank Fixed Deposit

Premature Liquidation of FD

If you’re faced with an emergency fund requirement, you can quickly and effortlessly liquidate your FD. In the case of senior citizens, there’s no penalty for early liquidation too.

Safety and Security

Being a scheduled commercial bank, IDFC Bank fixed deposits come with insurance coverage from Deposit Insurance and Credit Guarantee Corporation (DICGC) to the tune of ₹5 Lakhs.

Loan Against FD

At any time during the tenor of the FD, you can avail a loan against it to the tune of 90% of the total maturity amount. The interest rates on such loans are only marginally higher than the IDFC Bank FD rates applicable to you.

Tax Benefits

By opting for the IDFC Bank tax-saving fixed deposit with a tenor of 5 years, you can get tax benefits of up to ₹1.5 Lakhs in a financial year under section 80C of the Income Tax Act, 1961.

Interest Payout

Instead of receiving it on maturity, you can choose to receive the interest on your fixed deposit periodically. You get to choose the frequency of interest payout as well.

Additional IDFC Bank FD Rates for Senior Citizens

If you’re above 60 years of age, you get an additional rate of 0.5% per annum over and above the base rate for all tenors, thanks to the extra IDFC senior citizen FD rates.

IDFC Bank FD Interest Rates for Senior Citizens and Others for up to 5 Years

The IDFC Bank FD rates are dependent on factors such as the tenor of the deposit and your status as an investor. Check out the table below to get to know the interest earned and the maturity amount on an investment of ₹1 Lakh over multiple tenors. You can also use an IDFC FD calculator to estimate the maturity amounts.

Tenor	Non-Senior Citizen			Senior Citizen
Tenor	Interest Rate (p.a)	Interest Earned	Maturity Amount	Interest Rate (p.a)	Interest Earned	Maturity Amount
1 year	6.25%	₹6,432	₹1,06,432	6.75%	₹6,963	₹ 1,06,963
2 years	6.75%	₹14,410	₹1,14,410	7.25%	₹15,554	₹1,15,554
3 years	6.50%	₹21,467	₹1,21,467	7.00%	₹23,293	₹1,23,293
4 years	6.50%	₹29,602	₹1,29,602	7.00%	₹32,205	₹1,32,205
5 years	6.50%	₹38,282	₹1,38,282	7.00%	₹41,763	₹1,41,763

Note: The above interest rates are as on October 27, 2022 and are applicable for retail domestic fixed deposits of less than ₹2 Crores. The rates are subject to change from time to time depending on the bank’s policies.

Eligibility Criteria and Documents Required for Opening an FD in IDFC Bank

To be able to invest in a fixed deposit with IDFC Bank, you will have to satisfy certain criteria and submit a few documents as part of the application process. Check out the eligibility criteria and the list of documents required by the bank to open an FD account.

Eligibility Criteria

Resident Indian individuals and Non-Resident Indian customers can open an FD account with the bank and gain access to the attractive IDFC fixed deposit rates.

Documents Required

The following documents will have to be submitted along with the FD account opening form.

Aadhaar card
Voter’s ID card
Passport

How to Open an FD in IDFC Bank

You can invest in a fixed deposit with IDFC Bank through either one of the following two ways - through internet banking or through the IDFC First Bank mobile application. The step-by-step process that you would have to follow has been explained below in detail for both of these methods.

Through Internet Banking

Step 1: Log into your IDFC First Bank internet banking portal using your user credentials.
Step 2: Click on the ‘Accounts’ option on the top and then on the ‘Deposits’ sub-menu.
Step 3: Click ‘Open quick fixed deposit’.
Step 4: Enter details such as the investment amount and the tenor. The IDFC First Bank FD rate applicable for the tenor will be displayed.
Step 5: Specify the deposit type.
Step 6: Click on the ‘Auto-renewal of FD’ option if you wish to automatically renew the deposit upon maturity.
Step 7: Click on ‘Create FD’.

Through the IDFC First Bank Mobile Application

Step 1: Log into the IDFC First Bank application using your credentials.
Step 2: Click on the ‘Open FD’ option.
Step 3: Enter the amount that you would like to invest.
Step 4: Click on ‘All Plans’ to browse through the different fixed deposit plans available.
Step 5: Select the plan that you wish to invest in.
Step 6: Click on ‘Create FD’.

Fixed Deposit Rates for Other Banks
SBI FD Interest Rates	ICICI Bank FD Rates	Canara Bank FD Rates
Axis Bank FD Rates	PNB FD Interest Rates	Union Bank FD Rates
HDFC FD Interest Rates	Indusind Bank FD Rates	Bank of Baroda Fixed Deposit Interest Rate
Bandhan Bank FD Rates	Bank of India FD Rates	Karnataka Bank FD Interest Rates
Kotak Bank FD Rates	RBL FD Rates	UCO Bank FD Rates
Indian Bank FD Rates	Federal Bank FD Rates	Central Bank FD Interest Rate
IDBI FD Interest Rates	Punjab and Sind Bank FD Rates	DCB Bank FD Rates
Bank of Maharashtra FD Rates	KVB FD Interest Rates	Utkarsh Small Finance Bank FD Rates
IOB FD Interest Rates	Ujjivan Bank FD Rates	Saraswat Bank FD Rates
AU Bank FD Rates	YES Bank FD Rates	-

Disclaimer

The information provided by BFDL herein above is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial investment advice or endorsement of any sort.

The information including interest rates with regard to fixed deposit, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any investment or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.

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Monthly Interest on FD

Yes, your IDFC First FD can be withdrawn prematurely. However, the bank will deduct a penalty for the same.

No. You cannot extend the tenor of your FD. That said, you can select the auto renewal option to ensure that your IDFC First FD is renewed at the end of the tenor.

Yes. You can get up to 90% of the maturity amount as a loan at an interest rate that’s around 2% more than the IDFC Bank FD rates applicable to you.

As far as the different IDFC First Bank FD account forms are concerned, you have the FD account opening form, which is used to create a fixed deposit. You also have forms 15G and 15H, which can be used to claim exemption from TDS deduction on the interest income.

Yes. You can choose the 5-year tax saver deposit to enjoy tax benefits on the deposit amount under section 80C of the Income Tax Act, 1961.

You can apply for a tax saving IDFC First FD online by logging into the bank’s internet banking platform.

Yes, TDS will be deducted if your interest income exceeds ₹40,000 during the year (or ₹50,000 if you are above 60 years of age). You can use an IDFC FD calculator to determine just how much interest you stand to earn on your fixed deposit.

Yes, you can appoint a nominee for your IDFC First FD account at any point in time during the tenor of the deposit. As a matter of fact, it is advisable to appoint one at the time of opening the FD itself.

Yes. IDFC First Bank offers the FIRST WOW! credit card, which is a secured card issued against a fixed deposit. You can apply for the card through your internet banking portal.

The minimum tenor that you can opt for an IDFC FD is 7 days, whereas the maximum tenor is 10 years.

No. Once you’ve opened an FD account, you cannot deposit any additional amount whatsoever.

The maximum IDFC Bank FD rates on offer is 7.25% per annum for non-senior citizens and 7.75% per annum for senior citizens. This interest rate is applicable on 750-day FDs only.