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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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Streamline your export process with digital convenience with IDFC FIRST Bank's Export Solutions
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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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Enjoy Zero Charges on All Commonly Used Savings Account Services
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only on the IDFC FIRST Bank app
Start saving with just ₹100 per month
Earn high interest rates on your monthly savings. Senior Citizens enjoy additional 0.50% interest.
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Recurring Deposit Account
Recurring Deposit Account
The first step towards securing your future is setting aside finances to achieve your goals. A recurring deposit is one of the many ways to earn on your idle funds. We offer multiple RD schemes. Choose the one best-suited to meet your needs and help you earn more for your future. Once you open your account with us, you instantly gain access to our schemes and benefits like competitive interest rates, minimum duration of 6 months, and a minimum instalment amount of just ₹100.
So, start earning more as you enjoy the many benefits of an IDFC FIRST Bank recurring deposit account.
Multiply your earnings with IDFC FIRST Bank Recurring Deposit
Features of Recurring Deposit (RD)
Open Instantly
Instant online seamless process post login on app and internet banking.
Multiple tenures
You can invest in a RD with IDFC FIRST Bank in tenures of 6 months, 9 months, 12 months, 24 months and 36 months.
Start small
You can open an RD account with IDFC FIRST Bank starting with a minimum installment of ₹100 per month.
No penalty on missed RD installments
Missed an installment? No worries! We don’t charge any penalty for delayed or skipped RD installments, so you can save stress-free.
Eligibility to open an RD
Who can apply?
RD cannot be opened without a linked Savings Account. Once a Savings account is opened, no documentation is required for opening an RD.
Documents needed online
No additional document required as RD is available only for Savings Account holders.
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Is interest on savings account taxable?
Interest earned from Savings Accounts is taxable under “Income from Other Sources”.
What is the Savings Account transaction limit per month?
The free cash deposit limit on Savings Accounts with IDFC FIRST Bank, is ₹10 lakh per month.
How to Activate a Debit Card
You can activate your Debit Card via ATM, internet banking, or phone banking.
Recurring Deposit Account FAQs
What is a Recurring Deposit (RD)?
A Recurring Deposit is a term deposit that allows you to save your preferred sum of money in monthly installments over a pre-specified period, at a fixed rate of interest. Read More
What is the minimum and maximum amount I can invest in an RD at IDFC FIRST Bank?
The minimum amount for which you can book a RD with IDFC FIRST Bank is ₹100 and the maximum amount is ₹1,25,000 per month.
What is the minimum and maximum tenure I can invest for in an IDFC FIRST Bank Recurring Deposit?
IDFC FIRST Bank offers RD accounts for varying tenures from a minimum of 6 months to maximum of 36 months. The tenures available are 6 months, 9 months, 12 months, 24 months and 36 months.
Why should I opt for an IDFC FIRST Bank Recurring Deposit?
IDFC FIRST Bank offers various benefits on booking a Recurring Deposit, such as:
1. Consistent savings through monthly deposits
2. Higher interest rates
3. No penalty on missing an installment
4. Flexible investment amounts of as low as ₹100
What is the eligibility to open a Recurring Deposit with IDFC FIRST Bank?
Any customer (including NRI) who has an existing IDFC FIRST Bank Savings Account or Current Account can open a Recurring Deposit with the Bank.
However, in case any joint holder in NRE/NRO RD is an Indian resident then only ‘Former or Survivor’ can be the mode of operation.
A Resident Indian cannot be the primary holder in an NRE/NRO RD.
What are the documents I require to open a Recurring Deposit with IDFC FIRST Bank?
As an existing IDFC FIRST Bank Savings/Current Account customer, you do not need to submit any additional documents to open a Recurring Deposit Account.
What are the various ways to book an IDFC FIRST Bank Recurring Deposit?
IDFC FIRST Bank offers multiple ways you can choose from to book a Recurring Deposit:
- Walk in to any IDFC FIRST Bank branch to open a Recurring Deposit Account
- If you're an existing Savings/Current Account customer, you can also book a Recurring Deposit through NetBanking/on our Mobile app
Do I need to have a Savings Account with IDFC FIRST Bank in order to book a Recurring Deposit?
Yes, you need to be an existing IDFC FIRST Bank Savings/Current Account holder to open a Recurring Deposit Account.
What are the various modes of operation available for IDFC FIRST Bank Recurring Deposits?
You can choose from one of the below modes of operation for your IDFC FIRST Bank Recurring Deposit – Single, Joint, Either or Survivor, Former or Survivor OR Any or Survivor.
How much interest can I earn through a Recurring Deposit?
The interest rate you can earn on your IDFC FIRST Bank Recurring Deposit would vary depending on the tenure you have opted for. Visit our Recurring Deposits Interest Rates page to know more. You can also calculate the interest to be earned on our RD interest calculator.
Do Senior Citizens get any extra benefits on booking an IDFC FIRST Bank Recurring Deposit?
Senior Citizens get the below additional benefits on booking an IDFC FIRST Bank Recurring Deposit:
1. Additional interest rate of 0.50% p.a., over the regular rate of interest
2. No penalty on early withdrawal of the Recurring Deposit
How often is interest paid out on IDFC FIRST Bank Recurring Deposits?
Interest on your IDFC FIRST Bank Recurring Deposit is paid at the time of maturity.
Is there a monthly or quarterly interest pay-out option?
Interest earned on your IDFC FIRST Bank Recurring Deposit is paid out at the time of maturity of the account.
Would the interest earned on my Recurring Deposit be taxable?
As per Section 194A of Income Tax Act 1961, TDS shall be deducted at the rate of 10% when interest payable or reinvested on FD & RD per customer, across all Branches, is likely to exceed Rs. 50,000/- (or Rs. 1,00,000/- for Senior Citizens) in a Financial Year, unless otherwise exempt under law.
As per Section 139AA of the Income tax Act, 1961, it is mandatory to link Permanent Account Number (‘PAN’) with Aadhaar by June 30, 2023. If PAN is not linked, then the PAN provided by the customer will become inoperative. Failure to link will also attract higher TDS rate of 20%, as may be applicable on the income from the Bank. Bank will be unable to refund the TDS once deducted.
Is nomination facility available in IDFC FIRST Bank Recurring Deposits?
Yes, nomination facility is available on your IDFC FIRST Bank Recurring Deposit. You can have one nominee, whether the account is held singly or jointly.
Can I withdraw my IDFC FIRST Bank Recurring Deposit online?
Yes, you can withdraw your Recurring Deposit on our Mobile App
Can I make premature withdrawal of my IDFC FIRST Bank Recurring Deposit?
Yes, in case required, you can make premature withdrawal of your Recurring Deposit on our Mobile App.
Recurring deposit if prematurely closed, would be subject to ‘Premature Closure Penalty’ as prescribed by the Bank on the date of deposit.
Penalty for premature closure of Recurring Deposit would be at 1%. No penalty on premature closure of Recurring Deposits of Senior Citizens.
Will I earn any interest in case of premature closure of Recurring Deposit?
In case of premature withdrawal within a month for Domestic & NRO (Non Resident – Ordinary) RDs and withdrawal within a year (365 days in a non-leap year and 366 days in a leap year) for NRE (Non-Resident External) RDs, no interest is payable.
In case of premature closure of Domestic & NRO RD after a month and NRE RD after a year, interest will be paid basis interest rate applicable for fixed deposits at the time of booking the Recurring Deposit for the corresponding period for which deposit has remained with the bank.
Additionally, recurring deposit if prematurely closed, would be subject to ‘Premature Closure Penalty’ as prescribed by the Bank on the date of deposit. Penalty for premature closure of Recurring Deposit would be at 1%. No penalty on premature closure of Recurring Deposits of Senior Citizens.
Is there any penalty for premature withdrawal of my IDFC FIRST Bank Recurring Deposit?
Recurring deposit if prematurely closed, would be subject to ‘Premature Closure Penalty’ as prescribed by the Bank on the date of deposit.
Penalty for premature closure of Recurring Deposit would be at 1%. No penalty on premature closure of Recurring Deposits of Senior Citizens.
Can I partially withdraw funds from my IDFC FIRST Bank Recurring Deposit?
No, you cannot partially withdraw funds from your IDFC FIRST Bank Recurring Deposit.
What will be date on which my Recurring Deposit instalments would be due?
Your Recurring Deposit installments would be due every month on the date of opening the RD.
Can I change the installment due date and tenure of my Recurring Deposit?
No, you cannot change the installment due date and tenure of your Recurring Deposit after opening of the RD.
Will there be any penalty if I miss my monthly installments?
No, there is no penalty on missing your monthly installments.
Can a Recurring Deposit be opened with a minor as the first applicant?
Yes, you can open a Recurring Deposit Account in the name of a minor. However, it can be under the supervision of parents/guardians.
What are the revised limits for 15 G/ 15 H ?
| Old Tax Regime | New Tax Regime | |
| Form 15G | 2,50,000 | 4,00,000 |
| Form 15H | 5,00,000 | 12,00,000 |
Wherever the Estimated total Income quoted (refer aggregate of column 16 & 18 for Form 15G & column 15 & 17 for Form 15H) is higher of INR 2,50,000/- and INR 5,00,000/- (In case of senior citizen), the customer has confirmed that he/she has chosen to be governed by the New tax regime.