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Enjoy Zero Charges on All Commonly Used Savings Account Services
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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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Recurring Deposit Interest Rate
IDFC FIRST Bank Recurring Deposit
Features & Benefits
Earn high interest
At IDFC FIRST Bank, interest on RDs is usually higher than regular Savings Account, helping you save and earn more.
No penalty for missed investment
You do not have to pay any penalty on missing an RD installment.
Start small
You can open an RD account with IDFC FIRST Bank starting with a minimum installment of ₹100 per month.
Easy documentation
There is no need to provide documents for an RD account if you already have a Account with IDFC FIRST Bank.
Multiple tenures
You can invest from 6 month to 120 month in an RD with IDFC FIRST Bank
Tenure-wise Recurring Deposit Interest Rates
IDFC FIRST Bank allows you to grab the best RD interest rate. Given below are the recurring deposit interest rates offered by IDFC FIRST Bank.
These are one of the best RD account interest rates in the industry at present:
| Periods (in month) | General rates (w.e.f. Nov 2, 2023) |
Senior citizen rates (w.e.f. Nov 2, 2023) |
| 6 months | 4.50% | 5.00% |
| 9 months | 5.75% | 6.25% |
| 12 months | 6.50% | 7.00% |
| 15 months | 7.50% | 8.00% |
| 18 months | 7.75% | 8.25% |
| 21 months | 7.75% | 8.25% |
| 24 months | 7.75% | 8.25% |
| 27 months | 7.25% | 7.75% |
| 36 months | 7.00% | 7.50% |
| 39 months | 7.00% | 7.50% |
| 48 months | 7.00% | 7.50% |
| 60 months | 7.00% | 7.50% |
| 90 months | 7.00% | 7.50% |
| 120 months | 7.00% | 7.50% |
Penalty on delayed instalment :
IDFC FIRST Bank understands that emergencies are part of life. We do not charge any penalty for missing your recurring deposite instalments.
Penalty on premature withdrawal:
You never know when you might need money. The premature withdrawal facility in RD allows you to withdraw your investments and use them to address any financial situation.
Premature withdrawal of RD is allowed and penalty, if any, is calculated on the rate applicable on the date of the deposit for the period for which the deposit has run or the contracted rate whichever is lower. IDFC FIRST Bank does not charge any interest on premature withdrawal within 30 days for domestic RDs, NRO (Non-Resident Ordinary) RDs and within 365 days for NRE (Non-Resident External) RDs, respectively.
If you withdraw money after 30 days but before 6 months, the RD account interest rate on the amount will be the fixed deposit card rate applicable for 30-45 days (not applicable for NRE RDs). The card charges applicable for the period the deposit has actually remained with the bank as on the date of booking of the said deposit will apply if the deposit is prematurely withdrawn on or after 6 months.
How to open an RD Account?
Here are a few ways to open an RD account with IDFC FIRST Bank:
FREQUENTLY ASKED QUESTIONS
What is the minimum and maximum tenure to open a bank RD?
IDFC FIRST Bank offers RD accounts for varying periods. It can range from a minimum of 6 months to a maximum of 10 years.
What is the minimum monthly instalment needed to invest in bank RD?
For IDFC FIRST Bank, the minimum deposit to create an RD account is ₹100.
What if I delay paying my monthly instalment of the bank RD?
IDFC FIRST Bank does not charge any penalty if you miss or delay paying your recurring deposit instalments.
How to calculate the recurring deposit maturity amount?
The maturity amount can be calculated using a recurring deposit calculator. IDFC FIRST Bank’s RD calculator is simple, quick and easy to use. Once you enter the monthly investment amount and the number of months you’re investing it for, it calculates your maturity amount as per the interest rate applicable. Calculate your RD maturity amount here.
Which is better, RD vs FD?
If you do not have a large capital but can invest a small sum each month, you may go for a recurring deposit rather than a fixed deposit (FD). Each month, installment is to be deposited in the RD account. At the end of the RD term, the maturity amount will be credited to your account. However, if you can invest a large capital, an FD may be better.
Is interest earned on RD taxable?
Yes, interest earned on RD is taxable. You must pay tax on the interest you earn, although the percentage depends on the tax bracket you fall into. No tax exemptions can be claimed on an RD.
