IDFC Bank FD Rates

A fixed deposit is a complimentary savings account where an investor can deposit funds for a particular period. The investor can choose the tenure of the account. IDFC Bank FD rates will remain the same throughout the entire course of the deposit period. The FD interest rates in IDFC bank will depend on the tenure of the deposit term.

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Features of Idfc Bank Fixed Deposit

Investment Amount Minimum - Rs.10,000 Maximum- No Maximum Limit

Tenure Minimum - 7 daysMaximum- 10 Years

Interest Rate Minimum - 4.00 %Maximum- 8.00%

Compare FD Interest Rates of Top Financial Institutions

BANKS	GENERAL CITIZENS	SENIOR CITIZEN
IDFC Bank FD Rates	2.50% - 6.00%	3.00% - 6.50%
Axis Bank FD Rates	2.50% - 5.75%	2.50% - 6.50%
Bandhan Bank FD Rates	3.00% - 5.00%	3.75% - 5.75%
Bank of Baroda FD Rates	2.80% - 5.25%	3.30% - 6.25%
Bank of India FD Rates	2.85% - 5.05%	3.35% - 5.55%
Canara Bank FD Rates	2.90% - 5.40%	2.90% - 5.90%
Central Bank of India FD Rates	2.75% - 5.00%	2.90% - 3.25%
DBS Bank FD Rates	2.50% - 5.50%	3.50% - 6.00%
HDFC Bank FD Rates	2.50% - 5.60%	3.00% - 6.35%
Indian Bank FD Rates	2.90% - 5.15%	3.40% - 5.65%
Indian Overseas Bank FD Rates	3.40% - 5.20%	3.90% - 5.70%
IndusInd Bank FD Rates	2.50% - 6.00%	3.00% - 6.50%
Punjab National Bank FD Rates	2.90% - 5.25%	3.50% - 5.75%
SBI FD Rates	5.30% - 5.40%	5.80% - 6.20%
UCO Bank FD Rates	2.55% - 5.05%	3.80% - 6.30%
Yes Bank FD Rates	3.25% - 6.25%	3.75% - 7.25%

About IDFC Bank

IDFC Bank started its banking operations in India in the year 2015. With two years of operational experience, this bank is listed on the NSE (National Stock Exchange) and BSE (Bombay Stock Exchange).

About IDFC Bank Fixed Deposit Interest Rate Calculator

IDFC Bank Fixed Deposit calculator is an easy-to-use, hassle-free tool that helps in quick calculation of the maturity amount and the interest earned receivable at the end of the policy tenure. By entering some basic details, you can calculate the correct FD amount. Here are the steps that an investor needs to follow to calculate Fixed Deposit rates on the FD Calculator:

The amount that is invested
The Rate of Interest offered
The tenure of the Fixed Deposit Account
The compounding period, that is, yearly, half-yearly, quarterly, or monthly
The FD Amount

Once entered the following details, an investor will come to know:

The maturity value of the FD
The total interest earned during the complete tenure

IDFC First Bank Fixed Deposit Schemes

The fixed deposit scheme offered by IDFC First Bank

Regular Fixed Deposit:

The regular fixed deposit scheme of IDFC First Bank offers ease of investment, high liquidity, moderate returns, and funds safety. It is one of the viable options to invest your surplus money.
The facility of nomination is provided.
Offers a high return rate.
IDFC Bank FD rates for senior citizens are higher.
Resident Indians who are 18 years of age are eligible to invest in IDFC First Bank FD.

More about IDFC Fixed Deposit

IDFC Fixed deposit scheme offers high returns with no risk involved. IDFC Bank FD rates are competitive on all deposits. The minimal amount required for a deposit is very low.

The IDFC Bank FD rates are compounded every quarter
Fixed deposit rates in IDFC for senior citizens is higher by a small percentage when compared to the average interest rate

Features & Benefits of IDFC Bank Fixed Deposit

Competitive Rate of Interest: The IDFC Bank FD rates are attractive across all the tenures. All the depositors who are under the age of 60 can get a maximum of 7.00% rate of interest while the IDFC Bank FD rates for senior citizens is 7.50%.
No Charges for Premature Withdrawal: The senior citizens are not required to pay any penalty in case they need to withdraw their money before the maturity of their fixed deposit. This is one of the unique features offered by this bank. It is very beneficial for senior citizens who want to withdraw their money in case of any financial crisis as they do not have to worry about penalty payment in such situations.
The facility of Auto-Renewal: IDFC First Bank has the facility of auto-renewal of the fixed deposits upon the end of the tenure. If you do not want to withdraw your FD when it matures, then you can get it renewed automatically. In automatic renewal, the FD is renewed for the same tenure as before. This enables you to get higher returns during that period. However, you have to remember that the IDFC Bank does not offer the facility of auto-renewal if you do not have a PAN.

Other Benefits

There is no requirement for penalty payments in case of early withdrawals
An investor with a fixed deposit account can avail a loan against his deposit with low-interest rates
For detailed information on the IDFC Bank FD rates on fixed deposits, a customer can approach any of the bank branches

IDFC Bank has several branches, and it also has its presence in small towns and villages.

Tax Benefit on IDFC Bank FD

The IDFC Bank provides the option of tax saver fixed deposits with a lock-in period of 5 years. Hindu Undivided Families, minors, and individuals are eligible for this FD. You can opt for this fixed deposit scheme for availing tax benefits u/s 80C of the IT Act, 1961.

However, it is necessary to keep in mind here that in the case of FD, the tax levied is dependent on the tax bracket in which you fall into and is not dependent on the tenure of FD. If the interest that you have earned is more than Rs.10, 000 then TDS deduction at the rate of 10% would be deducted.

*Tax benefit is subject to changes in tax laws

Documents Required to Open an FD Account in IDFC Bank

Identity Proof:

The ID proofs that you need to present are:

PAN card
Passport
Voter ID card
Driving License
Government ID card
Senior citizen ID
Photo ration card

Address Proof:

The address proofs that you need to present are:

Telephone bill
Passport
Electricity bill
ID card or certificate provided by the Post office

Loan Against ODFC First Bank Fixed Deposits

The IDFC First Bank offers loans up to 90% of its deposits. However, the IDFC Bank does not give loans against the FD of any other banks. The rate of interest at which the bank offers loan ranges between 3.75% to 7%. The maximum tenure of the loan is up to the tenure of FD.

IDFC Bank FD - FAQs

Q1: What is the highest FD rate for IDFC Bank?

Ans: The maximum interest that you can earn on your fixed deposits of IDFC First Bank is 6.00%.
Q2: Is there any minimum amount that I have to deposit for opening a Fixed Deposit account with IDFC Bank?

Ans: The minimum amount that is required for opening a fixed deposit account with IDFC First Bank is Rs.10, 000.
Q3: Are there any special IDFC Bank FD rates for senior citizens?

Ans: Yes, IDFC Bank FD rates for the senior citizens of India are comparatively higher than the FD interest rates for normal people. The IDFC Bank FD rates for regular people range between 2.75% to 6.00%. On the other hand, the rates of interest for senior citizens rage between 3.25% to 6.50%.
Q4: Is it possible to deposit some additional amount in my fixed deposit account?

Ans: No, it is not possible to deposit any additional money in your already existing fixed deposit account. This is because in an FD account you are allowed to deposit only once and that is at the time of opening it. However, if you wish to invest some additional amount in your fixed deposit account, then you are needed to open a new account.
Q5: Who is eligible to open a fixed deposit account with IFDC First Bank?

Ans: Hindu Undivided Families, all residents of India including minors, and firms are eligible to open a fixed deposit account with IFDC First Bank.
Q6: Is it possible to change the tenure of my fixed deposit with IDFC First Bank?

Ans: No, it is not possible to change or alter the tenure that you have selected for your fixed deposit account with IDFC First Bank at the time of opening it. However, it is possible to close your existing FD account and open a new account with a tenure that you want.
Q7: Which documents are needed for opening a fixed deposit account with IDFC Bank?
Ans: The list of documents that are needed for opening a fixed deposit account with IDFC Bank are:
- ID Proof
- Residential Proof and
- Passport size photograph
Q8: What are the consequences of opening a fixed deposit account without having a PAN card?
Ans: You will have to face the following implications if you have opened an FD account without having a PAN card:
- You will not get any TDS certificate from the department of the income tax.
- The deduction of TDS will be 20% instead of 10% u/s 206AA.
- Form 15H/G and other certificates of exemption will become invalid and penal TDS will be applied.
Q9: What is the current IDFC Bank FD rate?

Ans: The current IDFC Bank FD rates fall under 2.75% to 6.00%.
Q10: What is the tenure in which the FD of IDFC First Bank gets doubled?

Ans: The IDFC Bank FD rate depends on the tenure that you select. For knowing the tenure in which your FD amount will be doubled, you have to divide 72 with 6%. So, for the years in which your IDFC Bank FD will be doubled is 72/6.00 = 12.
Q11: Is it possible for a customer to open a fixed deposit account with IDFC Bank online?

Ans: Yes, it is possible. You can apply for the same online and over the website of the Bank. After submission of this application, a representative from the Bank will contact you and process the application by filling your application form and submitting the required KYC documents.