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Is it mandatory to submit my PAN Card for booking an FD?

If your PAN Card is submitted at the time of opening a Savings Account, it is not required again. However, if you don't have a PAN, you will have to submit Form 60.

What are the implications of booking this deposit without a PAN Card?

If you open Fixed Deposit without a PAN Card, these are the following implications for customers:

  1. TDS will be recovered at 20% (as against 10%)
  2. No TDS credit from the Income Tax Department
  3. No TDS certficate will be issued (As per CBDT circular no: 03/11)
  4. Form 15G/H and other exemption certificates will be invalid and penal TDS will apply

How is the interest calculated on a FD Scheme?

Interest on deposits are calculated either as simple interest, or compound interest in case of re-investment. You can use our Fixed Deposit interest calculator to understand the returns you might receive. Click here

How do I obtain TDS certificate?

TDS Certificate can be generated by the following modes:

  1. Mobile Banking app/Internet Banking: Login to Mobile Banking app/Internet Banking >> Go to the Menu at the top left >> Click on Customer Service >> Click on download TDS Certificate >> Select the Financial Year >> Select fro either download or email to refgistered email ID option.
  2. Call: You may call us on the 24/7 toll free number mentioned on our website: https://www.idfcfirst.bank.in/ to obtain TDS Certificate.
  3. Branch: Alternatively, to obtain TDS certifcate please visit any nearest IDFC FIRST Bank branch.
    Click here to locate the nearest branch.
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