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.