IDFC First Bank Savings Account Interest Rate: Updated Guide

Key Takeaways
 

• You can earn an IDFC savings account interest rate per month of up to 7% p.a. on balances above ₹5,00,000.
   
• IDFC First Bank credits interest every 30 days, which grows your wealth faster than quarterly payouts.
   
• You enjoy 0 charges on 28 essential services, including IMPS, NEFT, and ATM withdrawals with an IDFC First Bank Savings account.
   

You should know how your interest works if you want your money to grow in your bank account! Your money earns interest in slabs in an IDFC savings Account. That means the more you save, the better returns you get!

A savings account interest rate is the percentage of your bank balance that the IDFC First Bank pays you in exchange for holding your money with them. This interest is calculated on your daily end-of-day balance and is typically expressed as a yearly percentage (p.a.). At IDFC First Bank, this interest is credited to your account every month, allowing you to benefit from the power of monthly compounding.

For example, if I keep ₹6,00,000 in my account, the first ₹5,00,000 earns 3% and the remaining ₹1,00,000 earns a higher 7%. This slab system helps my savings grow faster, with interest credited to my account every month.

Latest IDFC First Bank Savings Account Interest Rates 2025-26

You should always stay updated with the latest rates to maximize your money. The IDFC First Bank uses a tiered structure where different portions of your balance earn different interest percentages.
 

These competitive rates are often compared to the IndusInd Bank savings account interest rate when users look for the best liquid returns in the private sector.

Bonus Tip: IDFC FIRST Bank recently revised its savings account interest rates with effect from 9 January 2026. The bank reduced the highest interest rate from around 7% p.a. to 6.5% p.a. on certain balance slabs, and cut rates by up to 200 basis points for popular deposit ranges like ₹1,00,000 to ₹10,00,000.

Features & Benefits IDFC First Bank Savings Account

You get much more than just a high IDFC savings account interest rate per month when you choose IDFC Bank. Here are the key benefits:
 

These features provide a distinct advantage when compared to the standard IndusInd Bank savings account interest rate available in the current market.

Fees & Charges IDFC First Bank Savings Account

You do not need an IDFC First Bank savings account interest rate calculator to find hidden costs because most services are free. The bank prides itself on a “Zero Fee” philosophy for its customers.
 

You can easily avoid these few remaining charges by keeping your balance above the required limit. You can use the IDFC First Bank savings account interest rate calculator to see how much more you save when these fees are removed.

Types of IDFC First Bank Savings Account 

You can find a specific account variant according to your professional or personal needs. Each type follows the specific IDFC First Bank savings account interest rate slab to help you earn more.
 

You can use the IDFC First Bank savings account interest rate per month calculator on the official site to project your future wealth. Selecting the right account ensures you maximize your specific lifestyle rewards.

Conclusion

You can significantly grow your wealth by utilising the high interest rates and monthly compounding at IDFC First Bank. IDFC First zero-fee banking ensures you keep every rupee you earn without any hidden deductions.

FAQs Related to IDFC First Bank Savings Account Interest Rates

1. Will charges be deducted if I don't maintain the minimum balance in my IDFC FIRST Bank account?

If you fail to maintain the required monthly balance, IDFC FIRST Bank applies a non-maintenance charge of 6% of the shortfall or ₹500, whichever is lower. However, even if your balance is low, you still benefit from Zero Fee banking on 28 essential services like IMPS, NEFT, and ATM withdrawals without any hidden deductions.

2. What is the minimum balance required to open an IDFC FIRST Bank savings account?

The minimum balance for a Regular Savings Account is typically ₹10,000 or ₹25,000, depending on the variant, but you can opt for a Corporate Salary Account or a Digital Savings Account, which often come with a ₹0 (Zero Balance) requirement.

3. Should I use an IDFC FIRST Bank Savings Account or an HDFC FD for my emergency fund?

An IDFC FIRST Bank savings account is often superior to a traditional FD because it offers up to 7% interest with instant liquidity for an emergency fund. You can withdraw your money immediately without the 1% premature withdrawal penalty usually charged by banks like HDFC.

4. Is an IDFC FIRST Bank Savings Account better than a PPF for long-term growth?

IDFC FIRST Bank offers a competitive 7% return with high liquidity and monthly compounding. PPF is often better for the first ₹1.5 Lakh of your savings because its 7.1% return is completely tax-free, whereas savings account interest is taxable once it exceeds the annual deduction limits.

5. Is the interest I earn at IDFC FIRST Bank safe from TDS?

Residents do not have to worry about TDS (Tax Deducted at Source) on their IDFC FIRST Bank savings account interest, as banks generally only apply TDS to Fixed and Recurring Deposits. You simply need to declare the interest earned in your yearly tax filings, keeping in mind that the first ₹10,000 is tax-exempt for general citizens under Section 80TTA.