IDFC First Bank FD Interest Rates

1. Regular Fixed Deposits

• 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.

2. IDFC Bank Tax Saver Fixed Deposit Account

• Tax saver fixed deposits of IDFC Bank have a lock-in period of five years.
• The depositors can avail of the benefit of tax exemption Under Section 80C of the Income Tax Act.
• A loan against FD is not offered.
• The facility for premature withdrawal is not provided.

1. Long-Term Deposits

The tenure of these fixed deposits ranges from 5 years to 10 years, and the IDFC Bank FD rates offered are 6.00%.

2. Medium-Term Deposits

The tenure of medium-term fixed deposits ranges from 1 year to less than 5 years. The IDFC Bank FD rate for such deposits is 6.50%.

3. Short-Term Deposits

IDFC Bank's short-term fixed deposits range from 7 days to 12 months. The bank's FD rates range from 3.50% per annum to 5.75% per annum. The reason for calling them short-term fixed deposits is their tenure of less than one year.

• No Charges for Premature Withdrawal: Senior citizens are not required to pay any penalty if they need to withdraw their money before the maturity of their fixed deposit. It is one of the unique features offered by this bank. It is very beneficial for senior citizens who want to withdraw their money in any financial crisis as they do not have to worry about penalty payments in such situations.
• Auto-Renewal facility: 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. The FD is renewed for the same tenure as before in automatic renewal. This enables you to get higher returns during that period. However, you must remember that IDFC Bank does not offer an auto-renewal facility 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 of a loan against his deposit with low-interest rates.
• Customers can approach any bank branch for detailed information on the IDFC Bank FD rates.

• 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

• Partnership firms
• Sole proprietorship firms
• Trust accounts
• Limited companies

• PAN Card
• Passport
• Voter ID card
• Driving License
• Proofs of Partnership: Partnership deed, ID Proofs, and Signatures of authorized signatories incorporating certificate.
• Hindu Undivided Family: PAN Card – Self-attested, HUF declaration, and Statement of Bank

The following steps need to be followed to invest via internet banking:

• Login to the IDFC account
• Click on the "Open Fixed Deposit" option under the "transaction" tab.
• Fill in the needful details like the policy's tenure and the amount willing to be invested.
• Provide nominee details.
• Confirm all the details before proceeding further.
• A receipt will be generated that can be downloaded instantly.

2. IDFC Mobile Application

The following steps need to be followed to open an FD account via the mobile application of IDFC:

• Download the bank's application on your mobile (it can be either ios or android).
• After creating credentials, one can sign in to the application.
• Head to the main menu and select the deposit option after signing in.
• Under the "Deposits" option, choose the "Open Fixed Deposit" tab.
• Fill in all the required details and upload the required documents.
• A receipt will be generated after successfully providing all the details, which can be downloaded immediately.

3. An IDFC FD Account Offline

In the offline method of opening a Fixed Deposit Account, the investor must visit the nearest IDFC First bank branch and fill out forms to open their respective FD account. All the relevant documents must be submitted to the branch manager along with the deposit amount. After successfully verifying all the provided documents, the branch manager provides a receipt that is the account opening proof for the investor.