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Overview
GIFT City fixed deposits offer a promising opportunity for NRIs looking for secure, high-yield, and tax-efficient investments in India. Now, our NRI customers can easily open foreign currency fixed deposits at GIFT City through IDFC FIRST Bank. With attractive interest rates, tax-free interest, and a flexible range of tenures, GIFT City deposits are one of the best investment options available. Don't miss out on this lucrative investment option! Read more
What is a GIFT City fixed deposit account?
A GIFT City fixed deposit is a special type of term deposit offered by IDFC FIRST Bank through its International Banking Unit (IBU) in GIFT City, Gandhinagar. It allows Non-Resident Indians (NRIs) to invest in foreign currencies and earn fixed returns over a specified period. This account is designed to offer global investment convenience with flexibility and consistent earnings.
Key Features of
GIFT City FDs
Here are the key features of GIFT City fixed deposits that make them a smart choice for global investors. Designed for NRIs, these deposits offer stability, flexibility, and currency diversification all in one.
Key Features of
GIFT City FDs
The FIRST Global Savings Account is packed with several attractive features, making it a convenient and rewarding banking solution for NRIs:
GIFT City Fixed Deposits are currently offered in USD and EURO
Fixed returns on your deposits
Flexible tenures ranging from 7 days to 5 years
Principal and Interest are freely repatriable
Nominee facility available
Deposits are booked in auto-renewal mode or paid on maturity
Interest earned on GIFT City Fixed Deposits is exempt from taxes in India
Digital – real-time booking and liquidation on the mobile app itself!
Benefits of investing in fixed deposits
via GIFT City
Investing in fixed deposits through GIFT City offers a unique blend of global access, stable returns, and tax efficiency. It is an ideal option for NRIs looking to grow their foreign currency savings securely.
Digital
A real time booking and liquidation on the mobile app itself!
Global
Diversification
Diversify your holdings globally with foreign-currency deposits
Tax-Free
Interest
Interest earned on GIFT City fixed deposits is exempt from taxes in India
Capital
Safety
Capital protection with predictable returns
Free
Repatriation
Principal and interest are freely repatriable
Nominee
Facility
Facility to add nominee is available
Seamless
Renewal
Easy renewal on maturity at prevailing interest rates
Flexible tenure
Flexible tenure options for both short-term and long-term goals
GIFT City fixed deposit interest rates
Schedule of Charges
Who can open a
GIFT City FD?
This exclusive fixed term deposit is available to:
Existing NRI customers of the bank can book a GIFT city deposit using their existing mobile app itself !
How to Open a GIFT City FD in 5 easy steps
Getting started is quick and seamless:
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1
Log into your mobile app
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2
Navigate to the Deposits section.
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3
Click on “Create GIFT City FD”
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4
Select the amount and tenure
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5
Your deposit will be created, and you can view the deposit under the deposits section.
Your GIFT City Fixed Deposit can now be booked through the mobile banking app too.
Gift City Fixed Deposit FAQs
Can I open fixed deposits in foreign currency in GIFT CITY?
Absolutely. You can book USD or EUR fixed deposits at attractive rates, and the interest remains tax-free in India, all from your existing mobile app. You need to hold a Global savings account in respective currency to open Fixed deposits in GIFT CITY.
How can I add a nominee to the GIFT City accounts/ deposit?
Nominee can be added online using our mobile banking services. Alternatively, To add a nominee, you can fill out the Nomination Form available on the website and submit the same to IDFC FIRST bank. The process is simple and secure, ensuring your deposit is assigned as per your wishes.
Can I prematurely withdraw my GIFT City FD?
In case of premature withdrawal including partial premature withdrawal(s), interest shall be paid at the rate prevailing on the date of deposit for the period for which the deposit has remained with the Bank or at the contracted rate, whichever is lower. There is no premature withdrawal penalty charged.
Explore other NRI Banking products
NRI Savings Account
Explore a wide range of NRI Saving Account variants to suit your banking needs.
NRE Savings Account
Deposit your foreign income in India, in Indian Rupees, and enjoy unlimited repatriation and tax benefits.
NRO Savings Account
Manage your Indian income seamlessly from abroad with an NRO Savings Account.
More resources for NRIs
What are the Tax Rules in GIFT City? A Complete Guide
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Shifted to the UK for work? Discover the meaning of an NRE account
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