IDFC First Bank has revised the fixed deposit interest rates from May 1. They have short term FDs from one to ten years. The interest rates in FDs range from 2.75 per cent to 6 lakhs per annum. These have different tenure timings of seven to ten years. In Axis Bank, the interest rates are on retail terms.
In FDs, there are from seven to fourteen days of maturing FDs. In 15-29 days and 30-45 days, the bank has a 3-3.50 per cent. The deposits are in the range of 46-90 Days, and the interest rates are 4 per cent, and for 91-180 days, the interest rates are 4.50 per cent. For FDs of 181 days to less than a year, the IDFC First bank has interest rates of 5.25 per cent.
For Fixed Deposits in 1-2 years, the name has 5.50 per cent. For 2-3 years, the interest rates are 5.75 per cent. IDFC First bank has interest rates for 3-5 years is 6 per cent, and for 5-10 years, the interest rates are in between 5.75 per cent.
IDFC First bank FD interest rates from May 1 2021
- 7-14 days 2.75%
- 15-29 days 3.00 per cent
- 30-45 days 3.50 per cent
- 46-90 days 4.00 per cent
- 91-180 days 4.50 per cent
- 181 days -1 year 5.25 per cent
- 1-2 years 5.50 per cent
- 2-3 years 5/75%
- 3-5 years 6.00%
- 5-10 years 5.75%
- Five years (Tax Saver) 5.75%
From May 1, the interest rates are decreasing. And in IDFC First banks, if the balance is below 1 lakh, the interest rates are between 4 per cent. For the amount in between 1- 10 lakhs, the interest rates are 4.5 per cent. If the balance is between 10 lakhs to 2 crores, then the interest rates are 5 per cent.