IDFC First Bank FD Interest Rates

IDFC bank is an emerging name in the banking industry, holding its headquarters in Mumbai, Maharashtra. IDFC Bank Limited offers a plethora of services and products for its customers. One of their major selling products is the IDFC Bank Fixed Deposit scheme, also known as a term deposit. It provides competitive interest rates compared to other banks in the financial market, with tenure ranging from 7 days to 10 years. The bank offers myriad Fixed Deposit (FD) options for Individuals, Senior Citizens, and NRIs.  

Read more
Returns (Max Tenure)
Highest Return7.2%
Life Cover
Tax Saving


* Assuming investment of ₹ 1 Lakh per year & income tax slab of 30%

IDFC Bank FD Rates 2023

Current Rates
7 days to 14 days 3.5% 4%
15 days to 29 days 3.50% 4%
30 days to 45 days 4.00% 4.5%
46 days to 90 days 4% 4.5%
91 days to 180 days 4.5% 5%
181 days to 1 year 5.75% 6.25%
1 year 1 day to 499 days 6.25% 6.75%
500 days to 2 years 6.50% 7%
2 years 1 day to 749 days 6.5% 7%
750 days 6.90% 7.40%
751 days to 3 years 6.50% 7%
3 years 1 day to 5 years 6.5% 7%
5 years 1 day to 10 years 6% 6.5%
5 Year Tax Saver FD 6.5% -%

FD interest rates have been declining over last few years and is expected to further fall, as Indian economy grows in coming years.

5 Yrs FD rate - Historical trend
fd return beater
FD Calculator

Total Investment

₹500 ₹10L
Enter Total Investment

Rate of Interest (Yearly)

1% 10%
Rate of Interest (Yearly)

Time Period

1 Year 10 Years
Enter Time Period
Total Investment
Interest Earned
Maturity Amount

Compare FD Interest Rates of Top Financial Institutions

IDFC Bank FD Rates 3.50% - 6.50% 4.00% - 6.50%
SBI bank FD Rates 5.30% - 5.40% 5.80% - 6.20%
HDFC Bank FD Rates 2.50% - 5.60% 3.00% - 6.35%
ICICI Bank FD Rates 2.75% - 5.70% 3.25% - 6.20%
Axis Bank FD Rates 2.50% - 5.75% 2.50% - 6.50%
Canara Bank FD Rates 2.93% - 6.40% 2.93% - 6.40%
Yes Bank FD Rates 3.25% - 6.25% 3.75% - 7.25%
Kotak Mahindra FD Rates 2.50% - 5.75% 3.00% - 6.25%
Bandhan Bank FD Rates 3.00% - 5.00% 3.75% - 5.75%
Union Bank of India FD Rates 3.00% - 5.50% 3.75% - 5.75%
Indusind Bank FD Rates 2.75% - 6.00% 3.25% - 6.50%
PNB FD Rates 3.00% - 5.75% 3.50% - 6.25%
Bank of Baroda FD Rates 3.00% - 5.10% 3.50% - 5.60%
Indian Bank FD Rates 2.90% - 5.15% 3.40% - 5.65%
DBS Bank FD Rates 2.50% - 5.50% 2.50% - 5.50%
UCO Bank FD Rates 2.55% - 5.05% 3.80% - 6.30%
Bank of India FD Rates 2.85% - 5.35% 3.00% - 6.50%
IDBI Bank FD Rates 2.90% - 5.30% 3.40% - 5.90%
Central Bank of India FD Rates 2.75% - 5.15% 3.25% - 5.65%
Show More

About IDFC Bank FD Interest Rates

There are options under the fixed deposit scheme offered by IDFC bank for customers to save a generous amount from their earnings to fulfill their future financial requirements.

IDFC Bank offers 2 basic FD options, i.e., Regular Fixed Deposits and IDFC Bank Tax Saver Fixed Deposit Account that come with online banking facilities. You can also make huge profits with a five-year tax-saving fixed deposit scheme.

Under the FD tax deduction benefit option, one can save up to Rs. 1,50,000 annually as per Section 80C of the Income Tax Act, 1961. It is extremely convenient and easy to open an FD account online by logging in to the IDFC Bank internet banking account.

  • Types of IDFC Bank FD Schemes

    The types of Fixed Deposit Schemes offered by IDFC Bank are:

    • Regular Fixed Deposits
    • IDFC Bank Tax Saver Fixed Deposit Account

    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.
  • Term-Wise IDFC FD Interest Rates

    Fixed Deposits are considered one of the best ways to invest your surplus money. As per the tenure, the IDFC Bank Fixed Deposit interest rates are further categorized into long-term, medium-term, and short-term deposits.

    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.

  • Features & Benefits of IDFC Bank Fixed Deposit

    • Competitive Rate of Interest: The IDFC Bank FD rates are attractive across all the tenures. All depositors under the age of 60 can get a maximum of 6.00% interest rate, while the IDFC Bank FD rate for senior citizens is 6.50%.
    • 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.
  • IDFC Fixed Deposit Interest Rate Calculator

    IDFC Fixed Deposit calculator is an easy-to-use, hassle-free tool that helps quickly calculate 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
  • Eligibility Criteria

    Below are the groups and individuals who are eligible to open a Regular IDFC Fixed Deposit Account-

    • Hindu undivided families
    • Residents
    • Partnership firms
    • Sole proprietorship firms
    • Trust accounts
    • Limited companies
  • Document Required

    • Current Photographs
    • KYC Documents
    • Aadhar Card
    • 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
  • How to invest in the IDFC FD scheme

    An investor can opt for either of the following methods to invest in the IDFC FD Scheme:

    1. Internet Banking

    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.

  • Loan Against Fixed Deposit of IDFC Bank

    IDFC Bank also offers loans against fixed deposits. You can easily get a loan of up to 90% of the amount of FD. It is important to know that the bank does not offer you a loan against the FD of any other bank. The maximum tenure of the loan is restricted to the FD tenure.

FD Rates articles

Recent Articles
Popular Articles
Maybank Fixed Deposit Rate (Malaysia)

05 Jan 2023

Maybank Malaysia offers its customers the best FD interest rates
Read more
Maybank Fixed Deposit Rate (Singapore)

05 Jan 2023

Maybank Singapore offers customers attractive FD rates with two
Read more
YES Bank NRI Fixed Deposits: NRI / NRO / NRE / FCNR FD Rates

22 Nov 2022

Yes Bank offers a plethora of schemes to their customers
Read more
SBI NRI Fixed Deposits

10 Nov 2022

The State Bank of India (SBI) values its customers not only in
Read more
Axis Bank NRI Fixed Deposits

10 Nov 2022

A Fixed Deposit or Term Deposit scheme offered by various banks
Read more
Application for Withdrawal of Fixed Deposit
Fixed Deposits are the safest investment instruments. You invest the amount of your choice as the fixed deposit
Read more
ICICI FD Premature Withdrawal Penalty Calculator
ICICI offers various fixed deposit schemes which are highly liquid. The fixed deposit schemes allow partial
Read more
Fixed Deposit Monthly Income Scheme
The monthly income scheme of Fixed Deposit has gained popularity among investors. It is considered liquid as it
Read more
SBI Fixed Deposit Double Scheme
The SBI Fixed Deposit Double Scheme is named Special Term Deposit to cater to investors looking to double their
Read more
Tax Saver FD Premature Withdrawal
Tax Saver Fixed Deposit is a type of fixed deposit scheme. The scheme helps to save tax up to INR 1,50,000. The
Read more

Looking for a Fixed Return on your investment?
Get 100% Guaranteed amount along with Life Cover
Download the Policybazaar app
to manage all your insurance needs.