IDFC First Bank has updated its savings account interest rates, offering progressive returns across different balance slabs. The revised rates are applicable to domestic savings accounts as well as NRE and NRO savings accounts and are effective from January 9, 2025.
As per the bank’s latest disclosure, interest on savings deposits is calculated on a progressive basis, meaning different portions of the account balance earn interest at different rates. The interest earned is credited monthly to the customer’s savings account, providing regular income visibility.
Latest IDFC First Bank Savings Account Interest Rates
For balances of up to ₹1 lakh, the bank offers an interest rate of 3.00% p.a. Deposits above ₹1 lakh and up to ₹10 lakh earn a higher interest rate of 5.00% p.a.
Savings account balances exceeding ₹10 lakh and up to ₹10 crore attract the highest rate in the structure at 6.50% p.a. For balances above ₹10 crore and up to ₹25 crore, the applicable interest rate is 6.00% p.a.
Further, deposits above ₹25 crore and up to ₹100 crore earn 5.00% p.a., while balances exceeding ₹100 crore are eligible for an interest rate of 4.00% p.a.