IDFC First Bank Revises FD Rates on Select Maturities; Check New Fixed Deposit Interest Rates Here

IDFC First Bank has modified its interest rates on fixed deposits or FDs days after the Reserve Bank of India reduced the lending rate by 35 basis points. The private lender has revised the rates of FDs on select maturities effective 21^st of August. Meanwhile, many other private banks including ICICI Bank, Kotak Mahindra Bank and Axis Bank have also revised interest rates after RBIs rate cut this month.

IDFC First Bank offers interest ranging from 4 to 8 percent on FDs maturing in 1 year to 10 years. Senior Citizens get an extra 50 basis points as compared to the rate of general customers. For fixed deposits maturing in 7 to 14 days, the bank offers 4.00 percent, for 15 to 29 days - 5 percent and for 30 to 45 days it gives an interest rate of 6.25 percent. Fixed deposits maturing in 46 to 90 days obtain an interest of 6.50 percent while those maturing in 91 to 180 days get 6.75 percent interest.

IDFC First Bank New FD rates (below Rs 2 crore)

IDFC First Bank New FD rates (below Rs. 2 crore) for maturity between 1 year & 2 years

For 181 days to less than 1 year deposits, IDFC First Bank offers 7 percent interest. For FDs with one year maturity, the bank has hiked the interest rate. Now these deposits will get an interest rate of 8.00 percent. For 1 year, 1 day to 2 years maturities, IDFC Bank will provide 8 percent interest. That means the deposits with 1 and 2 years maturity period will obtain the highest rate of interest.

IDFC First Bank New FD rates (below ₹2 crore) for maturity between 2 years & 10 years

The private lender also provides long-term as well as tax saving deposits. For 2 years 1 day to 5 years, it gives an interest rate of 7.50 percent. For deposits maturing in 5 year 1 day to 10 years, the Bank provides 7.25 percent interest.

IDFC First Bank tax saver deposits

Interest rate of 7.75 percent will be obtained on deposits maturing in 5 years.