IDFC Bank RD Interest Rates - 2025
IDFC FIRST Bank offers several benefits with its Recurring Deposit (RD) scheme, making it a reliable choice for disciplined savers. The bank allows you to start with a low minimum monthly deposit, making it accessible for individuals from all financial backgrounds. The RD tenure is flexible—ranging from 6 months to 10 years—allowing you to choose a duration that fits your financial goals.
IDFC Bank offers domestic, NRE and NRO recurring deposits and the interest rates offered on the deposits are competitive. The minimum monthly instalment and duration for which an RD account can be opened with the bank are Rs.2,000 and 6 months respectively.
The tenures can go up to 10 years with the maximum monthly instalment being Rs.75,000. The rd interest rates offered on RDs range from 4.50% P.a. to 6.00% P.a. for general citizens while senior citizens are offered 0.50% P.a. more on all tenures.
IDFC Bank RD Interest Rates
Listed below are the tenures and interest rates offered by IDFC bank on domestic, NRE, and NRO recurring deposits (RDs) as of 2 November 2023
Tenure | General rates | Senior citizen rates |
6 months | 4.50% | 5.00% |
9 months | 5.75% | 6.25% |
12 months | 6.50% | 7.00% |
15 months | 6.50% | 7.00% |
18 months | 6.50% | 7.00% |
21 months | 6.00% | 6.50% |
24 months | 6.00% | 6.50% |
27 months | 6.00% | 6.50% |
36 months | 6.00% | 6.50% |
39 months | 6.00% | 6.50% |
48 months | 6.00% | 6.50% |
60 months | 6.00% | 6.50% |
90 months | 6.00% | 6.50% |
120 months | 6.00% | 6.50% |
Note: The interest rates mentioned in the table above can vary according to the bank's discretion and are effective from 13 September 2024.
IDFC Short-Term Recurring Deposit Interest Rates
RDs opened for the tenure of 6 months to 9 months fall under the category of short-term RDs. The interest offered by the bank for such tenures is in the range of 4.50% P.a. to 5.75% P.a. Seniors who are above the age of 60 years can avail in the range of 5.00% P.a. to 6.25% P.a. for opening a short-term RD with IDFC bank.
IDFC Medium-Term Recurring Deposit (RD) Interest Rates
Medium-term RDs are those which have a deposit tenure that ranges from 12 months to 24 months. The interest paid by IDFC for such tenures is between 6.00% p.a. to 6.50% p.a. Senior citizens are offered in the range of 6.50% p.a. to 7.00% p.a.
IDFC Long-Term Recurring Deposit Interest Rates
Long-term RDs are those deposits which have a tenure above 7 years. The interest paid to general citizens by the bank is 7.00% P.a. while senior citizens are offered 6.50% p.a.
IDFC Bank NRE and NRO Recurring Deposit Interest Rates
For NRE and NRO recurring deposits, IDFC offers the same interest rates. The only difference is that senior citizens are not offered the additional interest for any of the investment tenures.
More Recurring Deposit Guides & Insights
- Recurring Deposit Vs. Chit Fund
- Miss to Pay the Recurring Deposit Due
- Difference Between Recurring Deposit and SIP
- Open RD Account through HDFC NetBanking
- RD Account in SBI
- Advantages of Recurring Deposit
- Flexi RD
- SBI Flexi RD Schemes
- Monthly Recurring Deposit
- Co-operative Bank Recurring Deposit
- Indian Bank Recurring Deposit
- Union Bank Recurring Deposit
- UCO Bank Recurring Deposit
FAQs on IDFC Bank RD Interest Rates
- What is the minimum tenure to open a recurring deposit with IDFC FIRST Bank?
IDFC FIRST Bank offers multiple tenures ranging from six months to 10 years.
- Can I open a recurring deposit with IDFC FIRST Bank online?
Yes, you can open a recurring deposit with IDFC FIRST Bank online.
- Does IDFC FIRST Bank impose a penalty for not paying a monthly RD instalment?
No, IDFC FIRST Bank does not impose a penalty for delay in paying a monthly RD instalment.
- Is interest earned on a recurring deposit taxable?
Yes, interest earned on a recurring deposit is taxable.
- Do senior citizens get an additional interest rate on recurring deposits?
Yes, IDFC FIRST Bank offers an additional interest rate on recurring deposits to senior citizens.
News About IDFC Bank RD Interest Rates
IDFC First Bank increases RD interest rates
IDFC First Bank has increased interest rates on recurring deposits (RDs). The new rate will be effective from 13 January 2023. As per the new rate, the bank offers interest rates ranging from 5.30% to 7.30% for a tenure of seven days to ten years. On the other hand, the bank will offer 7.55% interest rate on RDs maturing in 366 days to 399 days.
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