IDFC FIRST Bank revises FD interest rates; offers 8.5% rate on this fixed deposit tenure
Following the change, the bank currently offers interest rates ranging from 3% to 8% on deposits maturing in 7 days to 10 years for general citizens. For senior citizens, the bank offers additional spread of 0.50% p.a. over the above rate, interest rate varies from 3.50% to 8.50%. The highest interest rate of 8% and 8.50% is offered on tenure of 500 days.
Also read: FD rates up to 9.5%: These 8 banks offer over 9% interest rate on fixed deposits for senior citizens
Latest IDFC FIRST Bank FD interest rates
PeriodRate of Interest (%p.a.)7 – 14 days3.00%15 – 29 days3.00%30 – 45 days3.00%46 – 90 days4.50%91 – 180 days4.50%181 days – less than 1 Year5.75%1 year6.50%1 year 1 day – 499 days7.50%500 days8.00%501 days – 548 days7.50%549 days – 2 years7.75%2 years 1 day – 3 years7.25%3 years 1 day – 5 years7.00%5 years 1 day – 10 years7.00%Tax Saver DepositRate of Interest (% p.a.) w.e.f. March 21, 2024 Less than INR 2 Crores(Only for Domestic Deposits)5 Years7.00%
Premature closure details
Interest will be paid based on the interest rate in effect at the time the term or fixed deposit was booked, for the equivalent amount of time the deposit has been held with the bank, in the event of an early termination of the term or fixed deposit. Furthermore, if a term or fixed deposit is closed before its expiration date, the bank's «Premature Closure Penalty» will apply, as specified on the deposit date. Penalty for pre-mature closure of Fixed Deposit would be at 1%.
In which case premature penalty will not be applicable
Pre
