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FIRST Global
Savings Account
Overview
The FIRST Global Savings Account is a specialised non-resident account that can be opened at the International Financial Services Centre (IFSC), GIFT City, Gujarat. Designed exclusively for our NRI customers, this account offers attractive interest rates, seamless digital access, and regulatory benefits of GIFT City.
What makes our Global Savings Account ideal for NRIs?
The FIRST Global Savings Account is a unique non-resident savings account offered by IDFC FIRST Bank under the IFSC framework at GIFT City. It is tailored for Non-Resident Indians (NRIs) and allows you to hold your foreign currency earnings. This account enables NRIs to deposit, maintain, and repatriate funds freely, backed by the regulatory environment of GIFT City, which mirrors international financial standards. Alongside global banking access, it offers you attractive returns, minimal paperwork, and the confidence of banking with one of India’s leading financial institutions. It’s the ideal choice for managing offshore income with efficiency and being able to manage your entire banking one single app! This account enables NRIs to deposit, maintain, and repatriate funds freely, backed by the regulatory environment of GIFT City, which mirrors international financial standards. Alongside global banking access, it offers you attractive returns, minimal paperwork, and the confidence of banking with one of India’s leading financial institutions. It’s the ideal choice for managing offshore income with efficiency and being able to manage your entire banking one single app! Read more
Key Features of the Global
Savings Account
The FIRST Global Savings Account is packed with several attractive features, making it a convenient and
rewarding banking solution for NRIs:
Attractive Interest Rate
Earn Attractive/Competitive interest rates on your savings deposit, credited every month for enhanced financial growth.
Freely Repatriable
Enjoy unrestricted repatriation of funds to your country of residence whenever required.
Multicurrency Support
Maintain your funds in major foreign currencies like USD and EUR, eliminating the need for conversions.
Zero Fee Banking
Enjoy zero-fee banking on FIRST Global Savings Account and save more on banking services.
Tax Advantages
Interest earned is tax-exempt under current Indian tax laws for GIFT City savings accounts.
Dedicated Relationship Manager
Your existing relationship manager continues being mapped to your GIFT City accounts also.
Bank From Anywhere
Single Mobile App to manage your entire banking
Earn Competitive Interest On Your Savings
The FIRST Global Savings Account offers a highly competitive interest rate along with transparent fee structures to suit your global banking needs.
| Particulars | Details |
|---|---|
| Interest Rate: USD | 4.75% per annum |
| Interest Rate: EUR | 1.50% per annum |
| Average Monthly Balance Requirement | Zero |
| Fund Transfer Charges (International) | Zero |
| Account Maintenance Charges | Zero |
Note: All rates and charges are subject to change as per the Bank’s discretion and applicable regulations.
Please click to view FIRST Global Saving Account interest rates
Who can open an account in GIFT City?
The FIRST Global Savings Account is exclusively available to eligible non-residents who wish to leverage GIFT City's internationally aligned banking ecosystem.
Global savings account are available to existing NRI customers of IDFC FIRST Bank.
How to open a Global Savings account?
If you’re an existing NRI customer, please get in touch with your relationship manager.
Documents Required to Open a Global Savings Account
For existing customers only an application form will be required.
Correspondent banks details
Schedule of Charges
What currencies can I hold in this account?
You can hold deposits in major foreign currencies in your FIRST Global Savings Account. The supported currencies currently include:
US Dollar (USD)
Euro (EUR)
These options enable you to manage your global income without worrying about exchange rate conversions.
Global Savings Account FAQs
What is the GIFT City NRI Global Savings Account?
It’s a special savings account for NRIs offered under GIFT City regulations. You can hold account in foreign currency like USD or EUR, earn attractive interest, and enjoy full flexibility for international transactions.
Who can open this NRI Global Savings Account?
NRIs, OCI cardholders, and PIOs are eligible to open NRI Global Savings Account.
How do I open and manage this account?
It’s simple and hassle free You can open the NRI Global savings account by filling a simple GIFT CITY Account opening form and submitting the same to your relationship manager or IDFC FIRST bank staff. Once the account is opened you can book deposits through your existing mobile app.