IDFC Bank FD Calculator
IDFC First Bank Term Deposit Rates (Less than Rs.2 Crore) - General Citizens
| Tenure | Regular Citizens |
| 7-14 days | 3.5 |
| 15-29 days | 3.5 |
| 30-45 days | 4 |
| 46-90 days | 4 |
| 91-180 days | 4.5 |
| 181 days – 1 year | 5.75 |
| 1 year 1 day – 499 days | 6.25 |
| 500 days – 2 years | 6.5 |
| 2 years 1 day – 749 days | 6.5 |
| 750 days | 6.9 |
| 751 days – 3 years | 6.5 |
| 3 years 1 day – 5 years | 6.5 |
| 5 years 1 day – 10 years | 6 |
Note: The FD interest rates are effective as of 16 August 2022
IDFC First Bank Term Deposit Rates (Less than Rs.2 Crore) - Senior Citizens
| Tenure | Senior Citizens |
| 7-14 days | 4 |
| 15-29 days | 4 |
| 30-45 days | 4.5 |
| 46-90 days | 4.5 |
| 91-180 days | 5 |
| 181 days – 1 year | 6.25 |
| 1 year 1 day – 499 days | 6.75 |
| 500 days – 2 years | 7 |
| 2 years 1 day – 749 days | 7 |
| 750 days | 7.4 |
| 751 days – 3 years | 7 |
| 3 years 1 day – 5 years | 7 |
| 5 years 1 day – 10 years | 6.5 |
Note: The FD interest rates are effective as of 16 August 2022
IDFC Tax Saver Deposit - General Public
| Tenure | Regular Citizens |
| 5 years (only for domestic deposits) | 6.5 |
Note: The FD interest rates are effective as of 16 August 2022
IDFC Tax Saver Deposit - Senior Public
| Tenure | Senior Citizens |
| 5 years (only for domestic deposits) | 7 |
Note: The FD interest rates are effective as of 16 August 2022
Interest Rates on FCNR deposits of up to 1 million
| Tenure | USD | GBP | EUR | AUD | SGD |
| 1 year to less than 2 years | 3.5 | 0.8 | 0.1 | 3.4 | 2.65 |
| 2 years to less than 3 years | 3.75 | 2.5 | 0.15 | NA | NA |
| 3 years to less than 4 years | 3.5 | NA | NA | NA | NA |
| 4 years to less than 5 years | 4 | NA | NA | NA | NA |
| 5 years only | 2.5 | NA | NA | NA | NA |
Note: The FD interest rates are effective as of 16 August 2022
Interest Rates on FCNR deposits of up to 1 million
| Tenure | USD | GBP | EUR | AUD | SGD |
| 1 year to less than 2 years | 3.5 | 0.01 | NA | NA | NA |
| 2 years to less than 3 years | 3.5 | 0.01 | NA | NA | NA |
| 3 years to less than 4 years | 3.5 | NA | NA | NA | NA |
| 4 years to less than 5 years | 3.5 | NA | NA | NA | NA |
| 5 years only | 2.5 | NA | NA | NA | NA |
Note: The FD interest rates are effective as of 25 August 2022
IDFC Bank NRO FD Rates - General Public
| Tenure | For General Citizens (p.a.) |
| 7 – 14 days | 3.50% |
| 15 – 29 days | 3.50% |
| 30 – 45 days | 4.00% |
| 46 – 90 days | 4.00% |
| 91 – 180 days | 4.50% |
| 181 days to 1 year | 5.75% |
| 1 year 1 day to 499 days | 6.25% |
| 500 days to 2 years | 6.50% |
| 2 years 1 day to 749 days | 6.50% |
| 750 days | 6.90% |
| 751 days to 3 years | 6.50% |
| 3 years 1 day – 5 years | 6.50% |
| 5 years 1 day to 10 years | 6.00% |
Note: The FD interest rates are effective as of 13 August 2022
IDFC Bank NRE FD Rates - General Public
| Tenure | For General Citizens (p.a.) |
| 1 year | 7.00% |
| 1 year 1 day to 484 days | 7.00% |
| 485 days | 7.00% |
| 486 days to 499 days | 7.00% |
| 500 days to 2 years | 7.00% |
| 2 years 1 day to 3 years | 7.25% |
| 3 years 1 day – 5 years | 6.50% |
| 5 years 1 day to 10 years | 6.00% |
| 2 years 1 day to 749 days | 6.50% |
| 750 days | 6.90% |
| 751 days to 3 years | 6.50% |
| 3 years 1 day – 5 years | 6.50% |
| 5 years 1 day to 10 years | 6.00% |
Note: The FD interest rates are effective as of 13 August 2022
IDFC Bank NRE/NRO FD Rates - Rs.2 crore to Rs.5 crore
| Tenure | Interest Rate |
| 7 – 14 days | 4.25% |
| 15 – 35 days | 4.25% |
| 36 – 45 days | 4.65% |
| 46 – 60 days | 4.75% |
| 61 – 91 days | 5.15% |
| 92 – 180 days | 5.80% |
| 181 – 270 days | 5.90% |
| 271 – 365 days | 6.40% |
| 366 – 399 days | 6.70% |
| 400 – 540 days | 6.70% |
| 541 – 731 days | 6.70% |
| 732 – 1095 days | 6.85% |
| 3 years 1 day – 5 years | 6.50% |
| 5 years 1 day – 8 years | 6.50% |
| 8 years 1 day – 10 years | 6.50% |
Note: The FD interest rates are effective as of 16 August 2022
IDFC Bank NRE/NRO FD Rates - Rs.5 crore to Rs.10 crore
| Tenure | Interest Rate |
| 7 – 14 days | 4.25% |
| 15 – 35 days | 4.25% |
| 36 – 45 days | 4.65% |
| 46 – 60 days | 4.75% |
| 61 – 91 days | 5.15% |
| 92 – 180 days | 5.80% |
| 181 – 270 days | 5.90% |
| 271 – 365 days | 6.40% |
| 366 – 399 days | 6.70% |
| 400 – 540 days | 6.70% |
| 541 – 731 days | 6.70% |
| 732 – 1095 days | 6.85% |
| 3 years 1 day – 5 years | 6.50% |
| 5 years 1 day – 8 years | 6.50% |
| 8 years 1 day – 10 years | 6.50% |
Note: The FD interest rates are effective as of 16 August 2022
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IDFC First Bank Fixed Deposit
IDFC fixed deposits are safe investment options that offer stable and guaranteed returns. This bank offers multiple fixed deposit schemes for various tenures and different rates of interest. IDFC First Bank deposit rates are quite attractive ensuring substantial returns on maturity.
However, it can be quite helpful to learn about the interest and the maturity amount that you would receive at the end of investment period. This can help you in financial planning. In this regard, you can use an online IDFC FD calculator. Let’s find out more on it.
IDFC First Bank Fixed Deposit (FD) Calculator
IDFC First Bank fixed deposit rate of interest ranges between 3.50% and 7.50% per annum for general citizens, while for senior citizens, it ranges from 4% to 8% per annum. This rate is applicable for an investment that is less than ₹2 crore.
The rates of interest for IDFC fixed deposits will vary on your investment tenure. For higher tenure, the interest will be higher and vice versa. You can calculate maturity and amount based on your deposit amount, tenure and rate. But, manual calculations can be complicated, time-consuming and prone to errors.
This is where online FD calculators come in.
How Does IDFC First Bank FD Calculator Work?
You can determine the interest and maturity amount for your IDFC fixed deposit conveniently with an online calculator. Here’s what you need to:
1. Tap on ‘Total Investment’ box and enter the amount that you wish to deposit
2. Now, provide the number of years in the required area. This is the tenure of your FD investment. You can also drag the purple line set your preferred tenure
3. Provide the IDFC First Bank fixed deposit rates.
4. Check the right-hand side of the page. You will get ‘Total Value’ and ‘Estimated Return’. The total value is the maturity amount and the estimated value will be the accrued interest.
You can modify the figures for investment amount, interest and tenure as many times as you want to.
There are two ways in which FD interest is calculated: compound and simple interest rates.
The formula for interest calculation will be based on the type of deposit.
For compound interest, this is the formula that is used:
A= P(1+r/n) ^ (n*t)
Here, A is the maturity amount
P is the principal amount
r is the IDFC First Bank fixed deposit rate
n is the frequency at which interest is compounded and
t is the tenure of investment
Let’s take an example here.
Suppose you have decided to invest ₹10,000 at an interest of 7.00% for a period of 5 years. In this case, the maturity and interest will be:
A= 10,000 (1+7/1)^ 1×5
The maturity amount is ₹14,148. The interest accumulated will be ₹4,148.
For simple interest, the formula used is:
M= P+ (PXRXT)/ 100
Here, P is the amount invested, R is the rate of interest, T is tenure while M is the maturity amount.
Benefits of Online IDFC First Bank FD Calculator
An online FD calculator can be quite a useful tool if you have been planning to invest in IDFC fixed deposit. Here are some of the major benefits of using an online IDFC FD calculator.
- This online tool is easy to use and comes with a simplified user interface. All you have to do is enter the investment amount, the tenure and rate of interest.
- It is an entirely free tool. You can access it from anywhere you wish with stable internet connectivity and a smart device. Moreover, you do not need to provide any personal details.
- As the entire process of interest calculation is automated, the entire process is smooth, hassle-free and fast.
- Unlike manual calculations, there are no chances of errors or miscalculations.
- You can adjust the figures as many times as you want. This will help you to choose a suitable FD scheme as per your financial goals.
If you have been looking to invest in IDFC First Bank FDs, you can use the free Upstox FD calculator to determine maturity. Simply enter the requisite details and find the maturity and interest accrued with just a few clicks.
Frequently Asked Questions
What is the minimum amount of investment for FDs under IDFC First Bank?
For IDFC First Bank fixed deposit, the minimum amount that you need to invest is ₹10,000. This is for deposits in bank branches. For deposits via Net and Mobile banking of the bank, the minimum amount is ₹1,000.
What is the highest rate of interest for IDFC First Bank FD?
The highest FD interest rate for IDFC First Bank is 7.50% for a tenure of 18 months 1 day to 3 years. This rate is available for general citizens depositing less than ₹2 crore. For senior citizens, it is 8%.
What is the penalty for early withdrawal in IDFC First Bank FD?
The penalty for premature withdrawal of fixed deposit at this bank is 1%. However, no such penalty would be levied for senior citizen depositors.
Can a customer open term deposit online in IDFC First Bank?
Yes, you can open a term deposit account online in IDFC via any of the electronic channels such as net banking, phone banking, ATM, etc.
Are there any special rates for senior citizens?
Yes, senior citizens opening FD accounts at IDFC Bank will get an additional 0.50% rate. The rate of interest for investments less than ₹2 crore can enjoy interest rates ranging between 4% and 8%.
What is the lock-in period for tax-saving scheme?
There is a minimum 5 years lock-in period for the tax-saving FD offered by this bank.
In how many years has IDFC FD doubled?
You can calculate the number of years it would take for your FD to double with the rule of 72. You have to divide 72 by the levied FD interest rate. Let’s say you have invested for a tenure of 366 days with an interest of 6.75%. So it will take around 10.6 years for your FD amount to double.
Disclaimer:
This calculator is meant to be used for indicative purposes only. It is designed to assist you in determining the appropriate amount of prospective investments. This calculator alone is not sufficient and shouldn’t be used for the development or implementation of any investment strategy. Upstox does not take the responsibility/liability nor does it undertake the authenticity of the figures calculated therein. Upstox makes no warranty about the accuracy of the calculators/reckoners. The examples do not claim to represent the performance of any security or investments. In view of the individual nature of tax consequences, each investor is advised to consult his/her own professional tax advisor before making any investment decisions on the basis of the results provided through the use of this calculator.