Product Details
Bank Name
IDFC First Bank
Eligibility
1. Resident Indian and NRI customers are eligible
2. Overdraft will be provided to existing individual customers of IDFC FIRST bank – i.e. Savings Account & Fixed Deposit customers
Interest Rate
upto 7.90%
Tenure
Minimum 7 days
Maximum 10 years
Fixed Deposit Type
Regular
Fixed Deposit
Tax Benefits
Tax is deducted at source, from the interest on Fixed Deposits, as applicable, as per the Income Tax Act, 1961
Credit Ratings
CRISIL AA
CRISIL A1+
Interest Payment Frequency
Monthly or quarterly
Cummulative/Non-Cummulative
Cumulative
Features
1. Offers an opportunity to earn a higher rate of interest on surplus funds 2. Senior Citizens get higher interest of 0.5% on the Fixed Deposit 3. Overdraft facility available on select Fixed Deposit types 4. Get Standalone Fixed Deposits via branches only 5. Tax is deducted at source, from the interest on Fixed Deposits, as applicable, as per the Income Tax Act, 1961
Minimum Investment Amount
INR 10000
Fees and Charges
Pros
Guaranteed Returns
Flexible Tenure Options
Competitive Interest Rates
Tax Benefits
Loan Facility
Easy Online Management
Cons
Early Withdrawal Penalty
Pros & Cons
Account Opening and Procedure
How to Open?
You can open the FD online by visting the website https://www.idfcfirstbank.com/
Application Procedure
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