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Retirement-ready: A Financial Journey

Ease into retirement like never before with IDFC FIRST Bank

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Overview

Securing your financial future is crucial to support the life you envision, regardless of your retirement goals. At IDFC FIRST Bank, we provide tailored solutions for every stage of life - whether it's planning for retirement, your children's education, marriage, or health insurance.

What is retirement planning?

Retirement is a major life milestone. As you reach this stage, your needs and priorities will most likely change. Retirement planning means having a steady flow of money to comfortably meet your needs after retirement. It will ensure that you save enough to maintain your current lifestyle and achieve your financial goals with ease.

Why is it important to plan your retirement?

In your retirement, you would most likely rely on your savings and investments to meet your needs. Retirement planning ensures you have ample life savings that comfortably covers your lifestyle, post-retirement. A well-planned retirement will help you:

  • Maintain your current lifestyle even in your retirement
  • Combat inflation
  • Prepare for unexpected expenses
  • Stay financially independent
  • Prepare for a long life, with increasing life expectancy

Ready to get started?

Whether you need to save or invest for the future, we make every rupee count. Choose from our banking and financial services to build your savings at every stage of your life.

Get effective retirement-ready solutions with IDFC FIRST Bank

Senior Citizen Savings Account

Maximise savings for your golden years with ZERO Fee Banking on ALL Savings Account Services

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Senior Citizen Fixed Deposits

Earn additional 0.5% interest with no penalty on premature withdrawals

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Mutual Funds

Get personalised investment options based on your risk profile, ensuring a portfolio that aligns with your goals

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Savings Account

Enjoy ZERO Charges on All Savings Account services like IMPS, NEFT, RTGS transactions & more

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Fixed Deposit

Secure your retirement fund with guaranteed returns and high interest rates up to 7.75% p.a.

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Mutual Funds

Get personalised portfolio inputs based on your risk profile aligning with your goals, conveniently on our App

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What makes us special?

ZERO charges on ALL Savings Account services like IMPS, RTGS, NEFT, ATM transactions & more
ZERO charges on ALL Savings Account services like IMPS, RTGS, NEFT, ATM transactions & more

Enjoy the power of monthly compounding with Monthly Interest Credits on your Savings Account
Enjoy the power of monthly compounding with Monthly Interest Credits on your Savings Account

Earn attractive interest rates of up to 7.75% p.a. on Fixed Deposits
Earn attractive interest rates of up to 7.75% p.a. on Fixed Deposits

Take advantage of ACE Funds - a selection of Mutual Funds picked based on rigorous analysis
Take advantage of ACE Funds - a selection of Mutual Funds picked based on rigorous analysis

Senior Citizens get free doorstep banking & priority treatment at IDFC FIRST Bank branches
Senior Citizens get free doorstep banking & priority treatment at IDFC FIRST Bank branches

Earn additional 0.5% p.a. interest with Senior Citizen Fixed Deposits with no penalty on early withdrawal*
Earn additional 0.5% p.a. interest with Senior Citizen Fixed Deposits with no penalty on early withdrawal*

*for FDs < ₹3 cr

Protection against unauthorized digital transactions up to ₹2 lakh with our Senior Citizen Savings Account
Protection against unauthorized digital transactions up to ₹2 lakh with our Senior Citizen Savings Account

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Mutual Fund Return Calculator

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Why should you start planning your retirement early?

 

Retirement is a phase of life that one should gradually ease into. Like every other stage, it comes with its ups and downs. Goals also tend to shift as we grow older. That's why the age of 40 is the ideal time to start securing your future and planning for retirement.

The illustration below presents two scenarios: A and B. In scenario A, the person starts investing at the age of 40, while in scenario B, they start at 50. Both invest ₹25,000 per month until the age of 60. In scenario A, the person builds a corpus of ₹1.9 Crores, while in scenario B, they accumulate only ₹51.6 Lakhs.

Clearly, scenario A results in a larger corpus, gaining an incremental amount of ₹1.4 Crores for retirement.

The illustration is for estimation purposes only and is not to be considered as an advice. The returns mentioned are indicative and not guaranteed in any manner.
Mutual Fund investments are subject to market risks. Please read the relevant documents carefully before investing.
The Bank does not offer Investment Advisory Services.
Please consider your specific investment requirements before choosing a fund or designing a portfolio that suits your needs.
IDFC FIRST Bank is a registered Mutual Fund Distributor (ARN Code 110136)

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Advantages of planning ahead

Take advantage of compound interest

Take advantage of compound interest

Saving for retirement early allows you to take advantage of the power of compound interest. This means you can earn interest on both your initial investment and the accumulated interest over time, resulting in significant growth of your retirement savings.
Lower financial stress

Lower financial stress

When you start planning for retirement early, you are better equipped to balance other financial goals, such as buying a home, paying for your child’s wedding, or paying for their education. This can help reduce financial stress and give you a sense of security for the future.
Flexibility and control

Flexibility and control

Early retirement planning gives you the flexibility and control to adjust your savings strategy, explore different investment options, and make informed decisions without rushing or compromising. This can help you make the most of your retirement savings and ensure a comfortable retirement.
Prepare for emergencies

Prepare for emergencies

Life is unpredictable, and early retirement planning can provide a financial cushion in case of unexpected events like job loss, medical emergencies, or family needs. Having a solid retirement plan in place can help you weather any unexpected challenges and maintain financial stability.

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