IDFC First Bank Domestic Term Deposit Scheme

If you wish to generate significant gains on your assets, the IDFC First Bank domestic term deposit scheme is a great choice. If you invest your hard-earned money in term deposits, consider opening an IDFC First Bank domestic deposit. The bank provides twice the benefits of other financial products and a favourable interest rate. With the aid of this term deposit training, you can also generate substantial revenue at reasonable interest rates.

Discover the domestic deposit accounts offered by IDFC First Bank and the interest rates they provide before placing an investment.

What is an IDFC First Bank Domestic Term Deposit Scheme?

With attractive interest rates, flexible investment terms, and several customer-friendly features like no penalty for early withdrawal for elderly citizens, IDFC First Bank provides fixed deposits. For terms ranging from seven days to 10 years, FD interest rates vary from 3.50% p.a. to 7.50% p.a. On all tenures, senior persons receive an extra 0.50% interest.

The below table IDFC First Bank Domestic Term Deposit  Scheme Fixed Deposit Rates Below ₹2 Crores.

Tenure Days	Regular Fixed Deposit Rates  % (p.a.)	Senior Citizen Fixed Deposit Rates % (p.a.)
7 to 14	3.50	4.00
15 to 29	3.50	4.00
30 to 45	4.00	4.50
46  to 90	4.50	5.00
91 to 180	5.00	5.50
180 to 364	6.75	7.25
367-18 months	7.25	7.75
18 months-1day-3 years	7.50	8.00
3 Years-1 day-5 years	7.00	7.50
5 years-1 day-10 years	7.00	7.50

Note: The rates are in effect from December 26, 2022. However, the rates may vary.

The below table depicts IDFC First Domestic Term Deposit Scheme fixed deposit rates between  ₹2 Crores and ₹5 Crores.

Tenure  Days	Regular Fixed Deposit Rates(p.a) %
7 to 14	5.45%
15 to 35	5.45%
36 to 45	5.70%
46 to 60	5.80%
61 to 91	6.35%
92 to 180	7.00%
180 to 270 days	7.10%
271 to 365 days	7.45%
366 to 399 days	7.70%
400 to 499 days	7.55%
500 to 540 days	7.55%
541 to 731 days	7.55%
731 to 1095 days	7.45%
three years – 1 day – 5 years	7.35%
five years – 1  day – 8 years	7.35%
8 Year – 1 day – 10 years	7.35%

Note: The rates are in effect from December 26, 2022. However, the rates may vary.

Eligibility Criteria

You must meet the following eligibility requirements to obtain an IDFC First Domestic Term Deposit scheme with ease:

• Indian Resident
• Non- Indians Resident
• Hindu Undivided Families
• Registered societies, trusts and associations

Documents Required to Open an IDFC First Bank Domestic Term Deposit FD

It is essential to provide the required paperwork to avail of investing in an IDFC First domestic term deposits Scheme either offline or online. The documents required are

Identification proof:

An Aadhaar card/ Voter ID card/ Driving licence/ PAN card

Address proof:

• All related KYC documents and utility bills such as electricity and gas bills.
• Passport-size photographs/ Bank account statements

Employment Proof:

• Job Card from NREGA or Salary Slips

Features & Benefits of an IDFC First Bank Domestic Term Deposit FD

One of the various ways to set money aside for your goals is to open a fixed deposit. The FD from IDFC FIRST Bank includes many features and advantages that can boost your income. After opening an account with IDFC FIRST Bank, you have immediate access to benefits, including high returns and simple payment.

• With an IDFC FIRST Bank Fixed Deposit Account, you can profit from higher financial returns.

• Investment is risk-free and secure because the FD interest rate is independent of market turbulence. Investors can relax knowing they will receive their money back.

• Seniors who withdraw money early are not penalised.

• Competitive rate of interest on FDs. The IDFC FIRST Bank offers some of the finest rates on the market. It ensures you achieve financial Independence and helps you build your money.

• A quarterly compounding option or a monthly/quarterly interest pay-out option. You decide what will benefit you. You can receive a relatively smaller payment each month or a substantial payment every three months.

• With a fixed deposit account from IDFC FIRST Bank, senior folks can receive an extra 0.5%.

• Earn up to 7.50% annually on your dormant savings.

IDFC First Bank Domestic Term Deposit: Key Attractions

IDFC First Bank Domestic Term Deposit offers numerous benefits. Some key benefits are listed below:

• Your deposits are insured by the Reserve Bank of India (RBI) for up to 5 lakhs.

• At low fixed deposit rates, you can borrow up to 90% of your deposit. It exceeds the FD interest rate by about 2%.

• You can have the FD interest credited to your account monthly, quarterly, or annually depending on your needs.

• Investing in tax-saving fixed deposits might save up to 1.5 lakhs in taxes annually.

How to Apply for IDFC FIRST Bank Domestic Term Deposit?

You have a few alternatives when opening an account with the IDFC First Bank domestic term deposit scheme. With IDFC First Bank, you must first open a savings account. You can now choose between an online and an offline option depending on your needs. Use the official website or the mobile banking app to open an FD account from the comfort of your home. Additionally, anyone can establish a fixed savings account with their neighbourhood bank.

You can apply for the IDFC First Bank domestic term deposit:

• Online Banking
• Phone Banking,
• By visiting the branch physically.

Download IDFC FIRST Bank Domestic Term Deposit Application Form.

Follow the below-mentioned steps to download the IDFC First Bank Domestic Term Deposit Scheme  application form.

Step 1: Visit the official website of IDFC Bank.

https://www.idfcfirstbank.com/personal-banking/deposits/fixed-deposit

Step 2: Select the ‘Deposits’ category, and click on either option of the term deposit.

Step 3: Choose the ‘Interest Rates’ option on the right side of the panel.