IDFC First Bank revises interest rates on savings account: Check new rates here

IDFC First Bank Savings Account Rates

The bank is offering 4 percent interest rate on the savings account balance till date 10 lakh, while IDFC First Bank is now offering a maximum interest rate of 6 percent on savings bank deposits from 10 lakhs On balance more than 25 crores 25 crore 100 crore, savings account holders will now get interest at the rate of 5.00 per cent; on balance more than 100 crore 200 crore, now they will get interest at the rate of 4.50 percent. Exceeding balance in savings bank account 200 crore, IDFC First Bank will now pay an interest rate of 3.50 per cent.

“The interest payable on the savings account will be calculated on a progressive basis as per the table in the rate slabs mentioned below,” IDFC First Bank said on its website. As per the relevant interest rate slab, IDFC First Bank will calculate the interest on Progressive Balance.

On its website, IDFC First Bank highlighted the following key points with regard to the interest rates payable on a progressive basis.

1. If the balance in your account with us is Rs. 25,000, the interest payable to you will be 4% on the entire Rs. 25,000.

2. If the balance in your account with us is Rs. 5 lakh, the interest payable to you will be 4% on Rs. 5 lakhs.

3. If the balance in your account with us is Rs. 1.10 crores, the interest payable to you will be 4% on Rs. 10 lakh, 6% on Rs. 1 crore.

4. If the balance in your account with us is Rs. 5.3 crores, the interest payable to you will be 4% on Rs. 10 lakh, 6% on Rs. 5.2 crores.

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