IDFC First Bank has increased interest rates on bulk deposits up to Rs 2 crore 25 crore. According to the official website of the bank, the new rates are effective till January 13, 2023.
The bank is now offering an interest rate of 5.30 to 7.30 per cent on deposits maturing in 7 days to 10 years. On the other hand, deposits maturing in 366 days to 399 days will now get a maximum interest rate of 7.55%.
IDFC First Bank Bulk FD Rates where premature withdrawal is allowed. On premature withdrawal, interest will be calculated at the applicable rate minus 1% penalty. The bank now offers an interest rate of 5.30% on deposits maturing in the next 7 to 35 days, while IDFC First Bank now offers an interest rate of 5.55% on deposits maturing in the next 36 to 45 days.
On deposits with tenure of 46 to 60 days, IDFC First Bank is now offering an interest rate of 5.60%, and on deposits with tenure of 61 to 91 days, the bank will offer an interest rate of 6.15%.
Deposits maturing in 92 to 180 days now fetch 6.75% interest, while deposits maturing in 181 to 270 days now fetch 6.85% interest. Deposits maturing in 271-365 days will now fetch 7.15% interest, while deposits maturing in 366-399 days will now fetch 7.30%. On deposits maturing in 400 to 731 days, IDFC First Bank is now offering an interest rate of 7.20%, while the bank is also offering a guaranteed interest rate of 7.05% on deposits maturing in 3 years, 1 day to 10 years.
IDFC First Bank Bulk FD Rates (Premature Withdrawal Not Allowed)
Domestic, NRE, NRO Deposits Premature withdrawal is not allowed on deposits 2 cr to 25 cr. The bank is offering an interest rate of 5.30% on deposit tenure of 7 to 35 days. The bank is now offering an interest rate of 5.55% on deposits maturing in 36 to 45 days. IDFC First Bank is now offering an interest rate of 5.70% on deposits maturing in 46 to 60 days.
On deposit period of 61 to 91 days, the bank will now get interest at the rate of 6.30%, while on deposit period of 92 to 180 days, the bank will get interest at the rate of 6.90%. Deposits maturing in 181 to 270 days and 271 to 365 days will now fetch interest at the rate of 7.00% and 7.30% respectively.
The bank is offering an interest rate of 7.55% on deposits maturing in 366 to 399 days. Offering an interest rate of 7.45% on deposits maturing in 400 to 731 days. For deposits ranging from 732 days to 10 years, the bank is offering an interest rate of 7.30%.
IDFC First Bank on its website mentions that “The term deposit will not have any facility for premature withdrawal i.e. the depositor cannot close the deposit before the maturity date. However, the bank may allow premature withdrawal of these deposits under exceptional circumstances.
