Notifications

  • As per amendment in the Income Tax Rules, PAN or Aadhaar are to be mandatorily quoted for cash deposit or withdrawal aggregating to Rupees twenty lakhs or more in a FY. Please update your PAN or Aadhaar. Kindly reach out to the Bank’s contact center on 1800 10 888 or visit the nearest IDFC FIRST Bank branch for further queries.

  • Activate your Credit Card within minutes and enjoy unlimited benefits

  • One FASTag, three payments:Toll, fuel and parking

    The only FASTag with triple benefits

Savings Account Interest Rate Calculator

A savings account interest rate calculator is a quick-and-easy tool that helps you figure out the interest you can earn monthly on your savings account balance.

The savings account interest calculator can estimate the amount you can earn on your savings account balance using inputs like your savings account balance and the bank interest rate.

Read more

Start-up Current Account
Discover Our Banking Products
Explore Financial Calculators

Loans

Savings Calculators

Loan Blogs

What is a Savings Account and why do I need it?

To understand the concept of a savings account, imagine you and your friend have ₹500 each. While your friend kept it with him, you deposited it in a bank that offers an interest rate of 10% annually. Towards the end of the year, your friend managed to not spend any money and save ₹500, whereas you grew it to ₹550 because you decide to deposit it in the bank.

Team FinFIRST Sep 20 • 3 mins read

Read Full Story

Frequently Asked Questions

How to calculate interest on a savings account?
How do banks calculate the interest on savings account?
What is the effective annual rate?
Do savings accounts pay interest monthly?
More FAQs