IDFC First Bank FD Interest Rates 2025

What is an IDFC First Bank Fixed Deposit?

IDFC First Bank Fixed Deposit is a savings product that allows individuals to invest a fixed amount for a selected period and earn interest at a predetermined rate. It is accessible to both regular investors and HUFs. The minimum deposit amount is ₹5,000 for Digital Fixed Deposits and ₹10,000 for Offline Fixed Deposits. Senior citizens are eligible for an additional interest rate of 0.50% per annum over the standard rates. Interest is paid either periodically or at maturity, depending on the payout option selected. The applicable interest rate is fixed at the time of booking and remains unchanged during the deposit tenure.

Key Benefits of IDFC First Bank Fixed Deposits

You can enjoy several attractive benefits when you open a Fixed Deposit with IDFC First Bank. Some of the key advantages are explained below:

1. Fixed Returns

IDFC First Bank Fixed Deposits offer guaranteed interest throughout the tenure, ensuring predictable earnings that are unaffected by market volatility.

2. Flexible Tenure

You can choose a tenure that matches your financial goals, anywhere from 7 days to 10 years, making IDFC First Bank FDs suitable for both short-term and long-term savings.

3. Higher Rates for Senior Citizens

Senior citizens earn an additional 0.50% interest per annum over regular rates, helping them generate higher income from their savings.

4. Multiple FD Options

IDFC First Bank offers a variety of fixed deposit products such as Standard, Tax Saving FDs, Flexi FDs linked to Savings Accounts, and Green FDs for sustainable investing.

5. Premature Withdrawal Facility

IDFC First Bank allows premature withdrawal on most of its fixed deposit schemes. For senior citizens, there is zero penalty on early withdrawal. For other customers, a penalty of up to 1% on the applicable interest rate may apply, depending on the FD type and tenure.

6. Loan/Overdraft Facility

IDFC First Bank offers loan and overdraft facilities against your fixed deposit, helping you meet urgent cash requirements without breaking your FD. The loan amount can be up to 90% of the FD value, and interest on the loan is charged at 2% above the applicable FD rate. This makes it a convenient way to manage short-term financial needs while keeping your investment intact.

7. Sweep-In/Sweep-Out Facility

The bank provides an auto sweep facility that links a savings or current account with a fixed deposit. When the account balance exceeds a predefined threshold (e.g., ₹75,000), the surplus is moved to a 370-day FD (sweep-out). If funds are needed, the FD is broken partially (sweep-in) without penalty, maintaining liquidity while earning higher interest on idle balances.

IDFC First Bank FD Interest Rates

IDFC First Bank FD rates vary based on the deposit tenure and investment amount, offering flexible options to suit diverse financial goals. Below is a detailed table showing the applicable IDFC First Bank FD interest rates for various tenures and deposit sizes to help investors make informed decisions.

IDFC First Bank FD Interest Rates 2025 for Deposits Less Than ₹3 Crores

*IDFC First Bank FD interest rates w.e.f. June 06, 2025

IDFC First Bank Interest Rates on Domestic, NRE, and NRO Deposits of ₹3 Crores and Above (Non-Callable FDs)

*IDFC First Bank FD interest rates w.e.f. June 07, 2025

IDFC First Bank Interest Rates on Domestic, NRE, and NRO Deposits of ₹3 Crore and Above (Callable FDs)

*IDFC First Bank FD interest rates w.e.f. June 07, 2025

To explore comparative options, check the best FD interest rates in India.

How to Open an IDFC First Bank FD

Follow these clear steps to open an FD with IDFC First Bank, whether you're an existing or new customer. You can choose to open your FD through online or offline channels.

Online Method

1. For Existing Customers:

• Log in to IDFC First Bank Internet Banking or Mobile App.

• Navigate to the Fixed Deposits section.

• Click on ‘Open Fixed Deposit’.

• Enter the deposit amount and select the tenure (7 days to 10 years).

• Choose the interest payout frequency (monthly, quarterly, or at maturity).

• Add nominee details and confirm the FD type.

• Submit, and your FD will be booked instantly.

2. For New Customers:

• Visit the official IDFC First Bank website and select ‘Open Digital FD’.

• Complete video KYC or upload your documents for verification.

• Fill in your personal and deposit details, including amount, tenure, nominee, etc.

• Make the online payment.

• Your Digital FD will be created instantly, and confirmation will be sent via email/SMS.

Offline Method

1. For Both New and Existing Customers:

• Visit your nearest IDFC First Bank branch.

• If you're a new customer, carry your KYC documents.

• Fill out the Fixed Deposit Application Form with the deposit amount and tenure.

• Choose the interest payout option and nominee details.

• Make the payment through cash, cheque, or bank account transfer.

• Collect the FD receipt and booking confirmation from the branch.

Notes

1. Minimum deposit:

₹5,000 (Digital FD), ₹10,000 (Offline FD)

2. Tenure options:

7 days to 10 years

3. Senior Citizen Benefit:

Extra 0.50% interest on all tenures

4. Booking Time:

Digital FD booking is paperless and takes only a few minutes

5. Payout Options:

Choose from monthly, quarterly, or at-maturity interest payments

Documents Required for IDFC First Bank FD

Here is a quick list of documents required (for new customers) to open an FD with IDFC First Bank, either online or offline:

1. Proof of Identity

Aadhaar, PAN, Passport, Voter ID, or Driving Licence

2. Proof of Address

Aadhaar, utility bill, passport, or bank statement with current address

3. PAN Card

Mandatory for tax and TDS purposes

4. Recent Photograph

Required for branch-based applications

5. KYC Compliance

• For Digital FD: Complete via Video KYC or e-KYC

• For Offline FD: Submit physical documents at the branch

6. Account Details

Your IDFC First Bank account (if available) for interest/maturity credit. FDs can also be opened without an existing account.

Taxation on IDFC First Bank FD Interest

Interest earned on Fixed Deposits with IDFC First Bank is taxable under the head “Income from Other Sources” and is added to the investor’s total income for taxation as per applicable slab rates. As per Section 194A of the Income Tax Act, Tax Deducted at Source (TDS) is applicable at 10% if the total interest earned in a financial year exceeds ₹50,000 for regular individuals and ₹1,00,000 for senior citizens. If a valid PAN is not submitted, the TDS is deducted at a higher rate of 20%.

To avoid TDS deduction, individuals whose total income is below the taxable limit can submit Form 15G (for non-senior citizens) or Form 15H (for senior citizens). Additionally, IDFC First Bank offers Tax Saver Fixed Deposits eligible for deduction under Section 80C, with a lock-in period of 5 years and a maximum deduction limit of ₹1.5 lakh per financial year.

Key Takeaways

IDFC First Bank Fixed Deposits offer returns across various tenures, helping individuals align their savings with specific financial goals. With features like digital account opening, flexible payout options, loan and overdraft facilities against deposits, and competitive interest rates, they offer both convenience and stability. However, one drawback is that the interest earned is fully taxable, which may reduce the overall returns for individuals in higher tax brackets.