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IDFC First Bank Revises Interest Rates On These FDs, Promising Up To 7.65%; Check Rates Here
Private sector lender IDFC FIRST Bank has revised interest rates on its bulk fixed deposits, with effect from Monday, April 17, 2023. According to the bank website, the revised interest rates are effective on the Fixed deposits of Rs 2 Crore to 5 crore, 5 Crore to 10 crore, Rs 10 crore to Rs 15 crore and Rs 15 crore to Rs 25 Crore.
IDFC First Bank offers two bulk fixed deposits above Rs 2 crore to Rs 25 crore with a premature withdrawal facility and without premature deposits. FDs where premature witdeawak is not permitted, the bank is offering a minimum interest of 5.25% and a maximum interest of 7.65%. Whereas FDs, where premature withdrawal is permitted, the bank is offering a minimum interest rate of 5.25% and a maximum interest rate of 7.40%.
Interest rates on deposits - Domestic, NRE, NRO - Rs. 2 crore and above - Premature withdrawal is NOT permitted
| Period | FD Rates** (Rs. 2 crore - 5 crore) | FD Rates** (> Rs. 5 crore - 10 crore) | FD Rates** (> Rs. 10 crore - 15 crore) | FD Rates** (> Rs. 15 crore - 25 crore) |
|---|---|---|---|---|
| 7 - 14 days | 5.25% | 5.25% | 5.25% | 5.25% |
| 15 - 35 days | 5.25% | 5.25% | 5.25% | 5.25% |
| 36 - 45 days | 5.45% | 5.45% | 5.45% | 5.45% |
| 46 - 60 days | 5.75% | 5.75% | 5.75% | 5.75% |
| 61 - 91 days | 6.45% | 6.45% | 6.45% | 6.45% |
| 92 - 180 days | 7.15% | 7.15% | 7.15% | 7.15% |
| 181 - 270 days | 7.30% | 7.30% | 7.30% | 7.30% |
| 271 - 365 days | 7.50% | 7.50% | 7.50% | 7.50% |
| 366 - 399 days | 7.65% | 7.65% | 7.65% | 7.65% |
| 400 - 499 days | 7.65% | 7.65% | 7.65% | 7.65% |
| 500 - 540 days | 7.65% | 7.65% | 7.65% | 7.65% |
| 541 - 731 days | 7.65% | 7.65% | 7.65% | 7.65% |
| 732 - 1095 days | 7.40% | 7.40% | 7.40% | 7.40% |
| 3 years 1days - 5 years | 7.35% | 7.35% | 7.35% | 7.35% |
| 5 Year 1 Day - 8 Years | 7.35% | 7.35% | 7.35% | 7.35% |
| 8 Year 1 Day - 10 Years | 7.35% | 7.35% | 7.35% | 7.35% |
Interest rates on deposits - Domestic, NRE, NRO - Rs. 2 crore and above - Premature withdrawal is permitted
| Period | FD Rates** (Rs. 2 crore - 5 crore) | FD Rates** (> Rs. 5 crore - 10 crore) | FD Rates** (> Rs. 10 crore - 15 crore) | FD Rates** (> Rs. 15 crore - 25 crore) |
|---|---|---|---|---|
| 7 - 14 days | 5.25% | 5.25% | 5.25% | 5.25% |
| 15 - 35 days | 5.25% | 5.25% | 5.25% | 5.25% |
| 36 - 45 days | 5.45% | 5.45% | 5.45% | 5.45% |
| 46 - 60 days | 5.75% | 5.75% | 5.75% | 5.75% |
| 61 - 91 days | 6.45% | 6.45% | 6.45% | 6.45% |
| 92 - 180 days | 7.15% | 7.15% | 7.15% | 7.15% |
| 181 - 270 days | 7.35% | 7.35% | 7.35% | 7.35% |
| 271 - 365 days | 7.40% | 7.40% | 7.40% | 7.40% |
| 366 - 399 days | 7.40% | 7.40% | 7.40% | 7.40% |
| 400 - 499 days | 7.40% | 7.40% | 7.40% | 7.40% |
| 500 - 540 days | 7.40% | 7.40% | 7.40% | 7.40% |
| 541 - 731 days | 7.40% | 7.40% | 7.40% | 7.40% |
| 732 - 1095 days | 7.15% | 7.15% | 7.15% | 7.15% |
| 3 years 1days - 5 years | 7.10% | 7.15% | 7.15% | 7.15% |
| 5 Year 1 Day - 8 Years | 7.10% | 7.15% | 7.15% | 7.15% |
| 8 Year 1 Day - 10 Years | 7.10% | 7.15% | 7.15% | 7.15% |
Please note - Rates up to 180 days are on "simple interest" basis. Interest on tenor above 180 days is payable/compounded on quarterly basis. Compound Interest/ re-investment interest is calculated every quarter, and is added to the Principal such that Interest is paid on the Interest earned in the previous quarter as well.
Source - IDFCfirstbank.com
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