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Save and enjoy the benefits of compound interest every month.

Introducing Monthly Interest Credits on your IDFC FIRST Bank Savings Account With IDFC FIRST Bank’s savings account you not only earn monthly interest credits, you reap more benefits like none other – all thanks to the power of monthly compounding interest. The interest earned is credited to your Savings Account every month, so, the following month, you earn interest on your balances, including interest on your previous month’s interest. And so on! Thus, you earn interest on interest, resulting in much higher earnings for you. The additional interest earned, which credit-worthy customers like you deserve, can exponentially increase your savings in the long run. Read More

For balances over 2 crores, you can earn between 4-5% with our high interest savings account. Enjoy industry-leading features and benefits with IDFC FIRST Bank’s savings account. Apply NOW!Read Less

The interest is compounded monthly, which grows your wealth

Monthly interest credit to your savings account. Monthly compound interest.

Did you know that our Bank gives you MONTHLY interest credits versus the industry norm of QUARTERLY interest credit?

Thus, you are earning Interest on Interest with IDFC FIRST Bank!

In other words, your savings with IDFC FIRST Bank is compounded monthly.

Over time, it makes a huge difference to your earnings.

What's more?

Bet you wont find this package of benefits anywhere else, feature-by-feature the best in the market!

Earn more with our high interest savings account

Enjoy attractive interest rates of:

• 4% for balances up to ₹10 lakhs

• 4.5% for balances between ₹1-10 lakhs

• More than 5% for balances up to ₹2 crores

Special Features Average Monthly Balance of 10,000 Average Monthly Balance of 25,000

Personal Accident Insurance



ATM Withdrawal

5 FREE transactions monthly

Unlimited FREE withdrawals

Daily ATM Withdrawal Limit



Daily Purchase Limit (POS)



Air Accident Insurance



Airport Lounge Access


Complimentary 2 per quarter

Lost Card Liability



Purchase Protection



Debit Card

FREE - VISA Classic

FREE - VISA Signature




Cheque Book




Monthly Interest Credit - FAQs

How does the monthly interest credit for savings account work?

For the convenience of our customers, the Bank will credit interest to customers’ savings accounts on a monthly basis. The earlier facility of interest credit on quarterly basis on savings accounts will be discontinued from June 30, 2021. The Bank is among the few in the industry to offer monthly interest credit on savings accounts.

Do I need to request a monthly credit facility or will it be automatically activated by the Bank?

The Bank will activate the monthly credit facility for all its savings account customers from July 1, 2021.  

Can I choose between monthly interest credit and quarterly interest credit?

No. All savings account customers will be offered monthly interest credit by default. 

On which date does the interest get credited to my savings account?

Interest on savings balances will be credited by the Bank on the 1st of every month. 

Does it change depending on the amount I hold in my savings account?

The interest rates will be applicable as per the interest rates slabs. For details click here

How is the interest on my savings account calculated?

The interest rates will be calculated on daily balances. The cumulative interest thus earned will be credited to the savings account on a monthly basis.  

Will there be any changes in services and features related to my account?

There will be no changes in services and features. This facility is being made available for the benefit of our customers so that they do not need to wait for three months to avail interest credit in their savings accounts. All services and offers related to the savings account remain the same. For details on features and services click here

Is there any change in the Average Monthly Balance that I need to have in my savings account?

There are no changes to the Average Monthly Balance that need to be maintained for savings accounts – both for accounts with a minimum balance of Rs. 10,000 and also for accounts with a minimum of Rs 25,000.  

Will TDS be deducted on the interest earned?

TDS is not applicable on interest earned on savings account.  

Is it applicable to senior citizen accounts and minor accounts as well?

Yes, the monthly interest credit facility is applicable to all types of savings accounts.

More FAQs