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Introducing the First-in-industry IDFC FIRST Bank's Super Account
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You gain a dedicated partner committed to helping you reach your full potential and achieve new heights
Know More- Account with Auto-Sweep FD
- Account for all Domestic businesses
- Account for Importers & Exporters
- Account for Start-ups
- Accounts for Trusts/Associations/Societies/Clubs
- Account for Merchants
- Account for Agri Traders
- Account for Self-employed professionals
- Special Purpose Accounts e.g. SNRR, RERA, EEFC
BRAVO (Auto Sweep)
Convert the idle funds in your current account into a fixed deposit with the BRAVO feature.
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Zero Forex Markup Current Account
Maximise your savings and boost profitability with our Zero Forex Markup current accounts
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Make more than one online payment in just a few clicks with IDFC FIRST Bank Bulk Payments
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A Card that Powers your Savings & Lifestyle
IDFC FIRST Bank HPCL Credit Card
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Earn up to 6.50% interest on your Savings Account
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Earn more on your savings with Monthly Interest Credits
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Recognised among the World's Best Banks 2025 by
Forbes in partnership with Statista.
Maximise your savings potential with Monthly Interest Credits
Most banks credit savings account interest on a quarterly basis, resulting in a three-month interval before your money starts compounding again. At IDFC FIRST Bank, your savings don’t wait. You earn interest every month, not just every quarter. That means your funds grow sooner and works harder for you.
Key Features apart from Monthly Interest Credits
Savings Accounts from IDFC FIRST Bank are designed for customers who value regular, transparent returns on their deposits. Interest is calculated on the daily closing balance and gets credited to the account every month allowing earnings to be credited more frequently and reflected in the balance without delay.
Monthly Interest
Earn with Monthly Interest Credits, helping your savings grow without waiting for quarterly payouts.
Higher Returns
Earn interest up to 6.50% p.a., credited monthly to maximise your savings potential.
Digital Account Opening
Open your savings account online with 100% paperless and digital process.
Easy Access
Get free and unlimited ATM withdrawals with high ATM and POS transaction limits.
Monthly Interest Credit vs Quarterly Interest Credit
Following is a comparison of Monthly Interest Credit on Savings Account and Quarterly Interest Credit
| Parameter | Monthly Interest Credit | Quarterly Interest Credit |
|---|---|---|
| Interest Calculation | Calculated on daily closing balance | Calculated on daily closing balance |
| Credit Frequency | Credited every month | Credited once every three months |
| Compounding Benefit | Faster compounding due to monthly credit | Slower compounding due to quarterly credit |
| Earnings Visibility | More frequent visibility of earnings | Less frequent visibility of earnings |
| Growth Impact | Supports steadier and potentially faster savings growth | Slower return accumulation |
| Financial Planning | Better aligned with short-term financial planning | Standard cycle with less frequent accumulation |
Interest Rates on IDFC FIRST Bank Savings Accounts
At IDFC FIRST Bank, your Savings Account earns competitive interest rates up to 6.50% p.a. interest, calculated daily and credited monthly for faster growth.
View Interest RatesEnjoy attractive interest rates across various account balances:
Effective from 21/04/2026:
| Savings Account Balance | Progressive Rate of Interest |
|---|---|
| Up to ₹3 lac | 2.50% p.a. |
| Above ₹3 lacs up to ₹25 crores | 6.50% p.a. |
| Above ₹25 crores | 5.00% p.a. |
Interest will be calculated on progressive balances in each Interest Rate Slab, as applicable.
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Senior citizen interest rates - Switch to a high-interest account
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Mobile Banking Features of IDFC FIRST Bank Savings Account: All You Need to Know
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Dormant Account: What it means and important facts you should know
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Monthly Interest Credits on Savings Account FAQs
What is monthly interest Savings Account?
When customers receive interest on their savings on a monthly basis, the Savings Account is known to offer monthly bank interest. In this type of an account, the interest on the available balance is credited to the savings account on the last day of of every month.
What is monthly interest credit on savings account?
Monthly interest on the IDFC FIRST Bank Savings Account refers to the interest credited at the end of each month. Interest is calculated on the applicable balance and credited monthly instead of quarterly, enabling consistent returns supported by steady and disciplined growth.
How does the monthly interest credit for a savings account work?
For the convenience of our customers, the Bank will credit interest to customers’ savings accounts on a monthly basis. IDFC FIRST Bank is among the few in the industry to offer monthly bank interest on savings accounts.
Do I need to request a monthly credit facility or will it be automatically activated by the Bank?
The Bank offers its monthly credit facility for all its savings account customers.
Can I choose between monthly interest on Savings Account and quarterly interest credit?
No. All savings account customers will be offered monthly bank interest by default.
If I close my savings account before the end of the month, do I still receive the monthly interest on Savings Account?
Interest is usually credited at the end of each month for accounts that remain active throughout the entire period. You get interest for the days you have kept balances. If you have kept balance for 25 days and closing your account on 26th then you will get the interest for 25 days.
What happens if I don't maintain average balance in my savings account?
Failure to maintain the average balance in your active savings account may result in a penalty for non-maintenance of average monthly balance charges. However, as per the RBI’s guidelines, the bank doesn’t impose this penalty on a dormant savings account. Regularly monitoring your account balance and understanding your bank's policies can help you avoid unnecessary fees.
How is monthly interest on savings account calculated?
To calculate monthly interest on IDFC FIRST Bank’s Savings Account, each day’s closing balance is added and divided by the number of days in that month. The applicable annual rate is usually divided by 365 days to arrive at a monthly rate. Applying this rate to the average balance determines the interest payable for that month, the total is then credited to your account at the end of that month.
Who should choose a savings account with monthly interest credit?
A savings account with monthly bank interest at IDFC FIRST Bank is suitable for anyone who wants to grow their funds steadily and benefit from regular interest credits. This is suitable for individuals who prefer predictable monthly returns, want faster compounding on their savings and those planning short-term goals while keeping their money accessible. With interest calculated daily and credited every month, your savings can accumulate more efficiently over time.
