Private sector lender IDFC First Bank has revised interest rates on fixed deposits (FDs) days after RBI reduced the lending rate by 35 basis points. The bank has revised FD rates on select buckets effective 21 August. Other private lenders Kotak Mahindra Bank, Axis Bank and ICICI Bank also revised also revised interest rates after RBI rate cut this month. IDFC First Bank gives interest ranging from 4% to 8.0% on deposits maturing in 1 year to 10 years. Senior Citizens get an additional 50 basis points over the rate of general customers. For deposits maturing in 7-14 days, IDFC First Bank offers 4.00%, for 15-29 days, 5.00%; and for 30-45 days, the bank offers an interest rate of 6.25%. FDs maturing in 46-90 days will fetch you an interest of 6.50% and those deposits maturing in 91-180 days will offer 6.75% interest.
IDFC First Bank latest FD rates (below ₹2 crore) for general public
7-14 days 4.00%
15-29 days 5.00%
30-45 days 6.25%
46 -90 days 6.50%
91-180 days 6.75%
IDFC First Bank latest FD rates (below ₹2 crore) for general public for maturity between 1 year and 2 years
For 181 days to less than 1 year FDs, IDFC First Bank gives 7.00% interest. For deposits with maturity one year, IDFC Bank has hiked the interest rate. Now these deposits will fetch an interest rate of 8.00%. For 1 year 1 day to 2 years maturities, IDFC Bank will give 8.00% interest. So deposits with one and two years maturity period will fetch the highest rate of interest.
181 days to less than 1 year 7.00%
1 year 8.00%
1 year 1 day to 2 years 8.00%
IDFC First Bank latest FD rates (below ₹2 crore) for general public for maturity between 2 years and 10 years
IDFC First Bank also offers long-term and tax saving deposits. For 2 years 1 day to 5 years, the bank gives an interest rate of 7.50%. For FDs maturing in 5 year 1 day to 10 years, IDFC First Bank offers 7.25% interest.
2 years 1 day- 5 years 7.50%
5 year 1 day-10 years 7.25%
IDFC First Bank tax saver deposits
5 years - 7.75%