March 27, 2026

IDFC First Bank Savings Account Interest Rate

A savings account is one of India's most widely used investment options. It helps with day-to-day banking needs of many individuals. IDFC First Bank provides a range of savings accounts to individuals to meet the banking needs of their customers. You can enjoy attractive IDFC First Bank savings account interest rate with some additional benefits.
Here's more about IDFC First Bank savings account.

IDFC First Bank Savings Account

This bank offers the industry's unrivalled savings account interest rates. Currently, it is offering an interest rate of 4% on savings accounts balance of up to ₹10 lakh. Also, IDFC First Bank's savings account interest rate is up to 6.25% p.a. on savings account balances of more than ₹10 lakh and up to ₹50 crore. You are allowed to get interests on the progressive balances for particular interest rate slabs.
In addition, the bank enables you to open a savings account through two modes- offline and online. Here is the list of two types of IDFC First Bank channels.

Online Savings Account

To avail hassle-free banking experience, you can instantly open an IDFC First Bank savings account using Aadhaar-based eKYC. This account has no hidden fees and comes with a free lifetime VISA signature debit card that offers several rewards, deals and other value-added benefits. Besides, you can earn up to 6% interest p.a. with excellent insurance offers, including lost car, accident, purchase protection and other additional benefits.
The IDFC savings account minimum balance is ₹25,000. It provides a VISA signature debit card for free, but only after in-person verification. Moreover, if an individual uses all of the account's benefits, one can save up to ₹10,000 per year through discounts.

Eligibility Criteria And Documents Required

All individuals residing in India can open an IDFC First Bank savings account. Besides, you must have an Aadhaar or PAN card and a mobile number linked with your Aadhaar Card. You can provide your Aadhaar enrolment number along with any of the following documents if you have not received your Aadhaar card yet:
  • Voter ID card
  • Passport
  • Permanent Driving License
  • Job card issued by NREGA duly signed by an officer of the State Government.

Offline Savings Account

IDFC First Bank provides savings account specially designed for minors, senior citizens, and women with premium benefits and features. Here is the list of the type of offline savings accounts:

Senior Citizen’s Savings Account

This savings account is designed for senior citizens and offers the following significant features:
  • Privileged treatment at the bank
  • Free doorstep banking
  • Free VISA Signature Debit Card for life
  • Preferential rates on recurring and fixed deposits
Individuals aged 60 or above can open this account. In addition, they must have an identity and address proof.

Minor Savings Account

This savings account is significantly designed for children aged below 18 years. With the help of this savings bank account, children can learn about money management basics. Account holders can get up to 6% p.a. on the daily end-of-day balances, paid quarterly.

Param Savings Account

It is a minimum balance savings account. This savings account offers the following features:
  • Free debit cum ATM card
  • A minimum average quarterly balance of ₹1000 needs to be maintained.
To open a Param Savings Account with IDFC First Bank, you need to meet the following criteria:
  • Resident individuals
  • Sole proprietorship
  • HUF (Hindu Undivided Family)
  • TASC (Total Administrative Services Corporation)
  • SHG (Self-Help Group)

Vishesh Savings account

This is another minimum balance savings account with a free debit card. Some of the salient features of this account include:
  • Vishesh Platinum debit card with online fraud cover of ₹2 lakhs and personal accident insurance cover of ₹2 lakhs.
  • In this account, an average quarterly balance of ₹5000 is mandatory.
Here the eligibility criteria are similar to Param Savings Account.

Pratham Savings Account

It is a zero-balance savings account. The Pratham Savings Account from IDFC First Bank offers multiple banking services and benefits:
  • No hidden charges
  • You can earn interest rates on the available account balance
  • No monthly minimum balance requirement
  • Quick banking transactions at all micro-ATMs
  • You can open your account instantly using your Aadhaar number at an IDFC First Bank micro-ATM or branch near you.
All individuals residing in India can open Pratham Savings Account with IDFC First Bank. Notably, you can apply for this investment option if you have a savings account with a different financial institution.

Shakti Savings Account

It is another low minimum balance savings account that helps you to fulfil all banking needs conveniently. Some of the crucial features of this savings account are:
  • You can get ₹2 lakhs of online fraud coverage and ₹1 lakh as personal accident insurance cover.
  • It comes with a low average monthly balance of ₹100
  • Eligibility: Resident individuals or Hindu Undivided Family (HUF) can operate this account.
Opening a savings account with IDFC is hassle-free and involves no complicated procedure. You can open a bank account online and upload the required documents to activate your savings account in just a few clicks. Alternatively, you may visit your nearest banking branch and submit the application form in person.
Regardless of the financial position, one should open a savings account as it helps to overcome fiscal concerns. Being one of the leading banks, IDFC FIRST offers one of the best interest rates, allowing their customers to earn considerable interest. However, the IDFC First Bank savings account interest rates vary based on the type of savings account, premium features, and benefits.

Never miss a trading opportunity with Margin Trading Facility

Enjoy 2X leverage on over 900+ stocks

Upstox Margin Trading Facility
Apple Logo
Downloadlogo
iOS App
Google Play Logo
Downloadlogo
Android App

RELATED ARTICLES

SBI IMPS & How to Do: Charges, Limits, Timings, & Transfers

You never know when you might need to send or receive money urgently. Until a few years ago, [NEFT](https://upstox.com/banking/what-is-neft-meaning-timings-full-form-charges-and-how-to-transfer-money/) and RTGS were some of the only options for transferring money and that too, during banking hours. This was a major problem for individuals, businesses, and corporations alike. To solve this prevalent problem, the NPCI (National Payments Corporation of India) introduced IMPS in several banks in 2010. IMPS stands for Immediate Payment Service. It provides a secure way of digitally transferring funds in real time. Immediate Payment Service is available through all digital banking mediums. This includes mobile banking, net banking, ATM kiosks and SMS banking. Since the method of transferring money is digital, the transactions can be carried out 24x7. This helps everyone transfer money when it is most required for a nominal transaction fee. In addition to transferring funds, IMPS can also be used to pay insurance premiums, utility bills, etc. State Bank of India was one of the first banks to adopt IMPS. Till date, it continues to offer efficient and safe IMPS options for its customers. In this blog, we will cover SBI’s Immediate Payment Service and how to use this service.

Post Office Savings Account: Features, Benefits and Interest Rates

India Post offers a range of savings schemes like Post Office Savings Account, Kisan Vikas Patra, Public Provident Fund, Sukanya Samriddhi Account, etc., for investors. Each scheme features some exceptional benefits. You can choose to easily invest your money in a post office savings account. Here you can deposit and withdraw money in a hassle-free way and earn reasonable interest. It functions in the same as any other retail bank savings account. One can start investing in PO savings account with a minimum of ₹500 at a 4% interest rate.

What is Salary Account: Difference Between Salary Account And Savings Account

Most of us have a salary account and a savings account, two different sorts of accounts. These accounts are identical in several aspects. You receive the same benefits with these accounts, such as a free checkbook, debit card, online banking capabilities, and more. However, the distinctions between salary accounts and savings accounts are quite significant. This article discusses everything from the meaning of a savings account and a salary account to the difference between a salary account and a savings account let's find out what they are.

Punjab National Bank (PNB) Savings Account - Interest Rates & Minimum Balance

Every person works hard to earn money, and a prudent person would want to save a significant part of it after meeting expenses. That's when they feel the need for a savings account. They may choose the Punjab national bank savings account. So what is the PNB savings account interest rate, and how much is the minimum balance in the PNB savings account? The customers' investment in the savings accounts at PNB to earn a return, according to the PNB savings account interest rate, may be as low as 2.70% or as high as 2.90% per annum, depending on the balance amount in the savings account. The requirement for minimum balance in a PNB savings account also varies from Rs.1,000 to Rs.2,000, depending on the PNB savings account type. While it is more beneficial to deposit money in a Fixed or Recurring deposit, the customer prefers holding the same in the Punjab national bank savings account. Because of its liquidity feature, individuals can deposit or withdraw from their Punjab national bank savings account whenever they need funds.