What's special about us
Zero Charges on 28 Commonly Used Savings Account Services
- About Us
- MD & CEO letter about the bank
- MD & CEO
- Our History
- Letter to Shareholders on the 1st Annual Report after Merger
- Letter to Shareholders on the 2nd Annual Report after Merger
- Letter to Shareholders on the 3rd Annual Report after Merger
- Letter to Shareholders on the 4th Annual Report after Merger
- Board of Directors
- Awards & Accolades
- News Room
- Investors
- Careers
- ESG
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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.
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Boost Your Savings with Monthly Interest Credits!
Open a Savings Account and Watch Your Money Grow
Boost Your Savings with Monthly Interest Credits!
Open a Savings Account and Watch Your Money Grow
Maximize your Savings Potential with Monthly Interest Credits
IDFC FIRST Bank Savings Accounts offer monthly interest credits, rewarding account holders with monthly interest payments on their balances. With this type of Savings Account, the interest is calculated and credited to your account balance each month, unlike most other banks that offer quarterly interest pay-outs.
With monthly interest credits, the interest earned on your savings account is compounded. This means interest is paid on the initial deposit as well as the interest earned on previous deposits. This compounding effect is what allows your account balance to grow rapidly.
Monthly Interest Credit on Savings
Free & unlimited ATM withdrawals
Simulation Results(for a period of 1 year):
* Interest you earn with IDFC FIRST Bank
** Interest you earn with your Bank
Additional Interest you earn with us
Simulation Results
For a period of 1 year
IDFC FIRST Bank
Your Bank
Addition Interest you earn with us
Interest Rate Calculator:
View and compare interest earnings
* Interest calculated on progressive balances in each interest rate slab, as applicable
** Interest calculated on flat rate basis
Key Features Beyond Monthly Interest Credits
In addition to monthly interest credits, IDFC FIRST Bank Savings Accounts offer a plethora of features, such as:
Advantages of choosing a savings account with monthly interest credits
If you want to grow your savings and earn regular interest income, opening an IDFC FIRST Bank Savings Account with monthly interest credits is a smart choice. Here are some of the benefits of opening an account with us:
- Earn regular interest income
- Maximize your savings potential
- Earn competitive interest rates up to 7% p.a.
- Meet your financial goals quickly
Here’s a detailed overview of our Savings Account with different AMB variants:
| Special Features | Average Monthly Balance of ₹10,000 | Average Monthly Balance of ₹25,000 |
|---|---|---|
| ATM Withdrawal | Free and unlimited transactions at any bank ATM* | Free and unlimited transactions at any bank ATM* |
| Daily ATM Withdrawal Limit | ₹1 lakh | ₹2 lakhs |
| Daily Purchase Limit (POS) | ₹4 lakhs | ₹6 lakhs |
| Personal Accident Insurance | ₹5 lakhs | ₹35 lakhs |
| Air Accident Insurance | ₹30 lakhs | ₹1 crore |
| Domestic Airport Lounge Access | NIL | Complimentary, once per quarter |
| Debit Card | VISA Classic | VISA Platinum |
| Lost Card Liability | ₹4 lakhs | ₹6 lakhs |
| Purchase Protection | ₹50,000 | ₹1 lakh |
| IMPS | FREE | FREE |
| Cheque Book | FREE* | FREE* |
*T&C apply. Account AMB to be maintained.
Interest rates: overview
Enjoy attractive interest rates across various account balances:
- 3.00% for balances <= 1 Lac
- 4.00% for balances > 1 Lac <= 5 Lac
- 7.00% for balances > 5 Lac <= 50 Cr
- 5.00% for balances > 50 Cr <= 100 Cr
- 4.50% for balances > 100 Cr <= 200 Cr
- 3.50% for balances > 200 Cr
(Effective from 01/01/2024)
FAQs
What is Monthly Interest Credit?
How does the monthly interest credit for a savings account work?
For the convenience of our customers, the Bank will credit interest to customers’ savings accounts on a monthly basis. IDFC FIRST 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 offers its monthly credit facility for all its savings account customers.
Can I choose between monthly interest credit and quarterly interest credit?
No. All savings account customers will be offered monthly interest credit by default.