BRAVO

BRAVO is a feature that allows you to automatically convert your Current Account balance above  ₹2 Lakhs or more into a 370 days Fixed Deposit thereby earning you an interest of 7.5% p.a. This feature can be availed on all IDFC FIRST Bank Current Accounts. 

IDFC FIRST Bank is the first and only Bank in India to allow complete flexibility to set auto-sweep limit on Fixed Deposit (FD) on all Current Accounts for MSMEs & Startup, without any premature penalty on withdrawals.• Choose any amount above  ₹2 Lakhs for auto-sweep to a FD

• Choose any amount above  ₹2 Lakhs for auto-sweep to a 370 days FD

• Earn interest of up to 7.5% p.a. on the FD

• Balance above the set threshold moves into a FD on a daily basis

• FD will break only when Current Account balance goes below  ₹2 Lakh

• FD breakage will not attract any penalty on withdrawal

• FD breakage will be in units of  ₹1 to give you maximum benefit

BRAVO feature is available with only Platinum Current Account.

Fixed Deposit (FD) will be created next day in multiples of ₹1000. Single FD will be created at the beginning of the day (BOD) for a maximum amount of less than ₹2 Crore. In case FD requirement is more than ₹2 Crore, please visit your nearest branch for more details.

When funds required in the Current Account for any payment is more than the Current Account threshold Balance of ₹2,00,000, then FD will break sweeping in money to the account. Fixed Deposit will break in multiples of ₹1 and it would happen on LIFO (Last in First Out) basis. This provides liquidity to you by converting part or all Fixed Deposit into readily accessible funds.

For any customisation required in BRAVO like change in tenure, frequency, etc., you may reach out to your RM or nearest branch.

You are required to maintain average monthly balance as per the opted Current Account variant (if applicable).

In case of pre-closure of Fixed Deposit, the applicable bucket rate as per tenure and as on date of Fixed Deposit booking will apply. No premature penalty will be charged.

*Except special purpose accounts

You may reach out to the branch representative for this request. He/She will help you fill the form available on our website and submit the same for enabling this feature.

Form Path: www.idfcfirstbank.com>> Form Centre>> Account Services >> Auto Fund Transfer to Fixed deposit – Bravo