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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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Recurring Deposit Interest Rate
IDFC FIRST Bank Recurring Deposit
Features & Benefits
Earn high interest
At IDFC FIRST Bank, interest on RDs is usually higher than regular Savings Account, helping you save and earn more.
No penalty for missed investment
You do not have to pay any penalty on missing an RD installment.
Start small
You can open an RD account with IDFC FIRST Bank starting with a minimum installment of ₹100 per month.
Easy documentation
There is no need to provide documents for an RD account if you already have a Account with IDFC FIRST Bank.
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
Tenure-wise Recurring Deposit Interest Rates
IDFC FIRST Bank allows you to grab the best RD interest rate. Given below are the recurring deposit interest rates offered by IDFC FIRST Bank.
These are one of the best RD account interest rates in the industry at present:
Tenor
Effective 16-March-26
6 months
5.50%
9 months
5.50%
12 months
6.30%
24 months
7.00%
36 months
7.00%
Penalty on delayed instalment :
IDFC FIRST Bank understands that emergencies are part of life. We do not charge any penalty for missing your recurring deposite instalments.
Penalty on premature withdrawal:
You never know when you might need money. The premature withdrawal facility in RD allows you to withdraw your investments and use them to address any financial situation.
In case of premature withdrawal within a month for Domestic & NRO RD and withdrawal within a year (365 days in a non-leap year and 366 days in a leap year) for NRE RD, no interest is payable.
In case of premature withdrawal after a month for domestic/NRO RD and after a year for NRE RD, the interest will be paid basis interest rate applicable for fixed deposits as on the date of booking of the deposit for the corresponding period for which the 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. The said Premature Closure Penalty shall be applicable and imposed on all Recurring Deposits booked and/or renewed on or after May 2, 2019.
Penalty for premature closure of Recurring Deposit would be at 1%. No penalty on premature closure of Recurring Deposits of Senior Citizens
How to open an RD Account?
Here are a few ways to open an RD account with IDFC FIRST Bank:
FREQUENTLY ASKED QUESTIONS
What is the minimum and maximum tenure to open a bank RD?
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.
What is the minimum monthly instalment needed to invest in bank RD?
For IDFC FIRST Bank, the minimum deposit to create an RD account is ₹100.
What if I delay paying my monthly instalment of the bank RD?
IDFC FIRST Bank does not charge any penalty if you miss or delay paying your recurring deposit instalments.
How to calculate the recurring deposit maturity amount?
The maturity amount can be calculated using a recurring deposit calculator. IDFC FIRST Bank’s RD calculator is simple, quick and easy to use. Once you enter the monthly investment amount and the number of months you’re investing it for, it calculates your maturity amount as per the interest rate applicable. Calculate your RD maturity amount here.
Which is better, RD vs FD?
If you do not have a large capital but can invest a small sum each month, you may go for a recurring deposit rather than a fixed deposit (FD). Each month, installment is to be deposited in the RD account. At the end of the RD term, the maturity amount will be credited to your account. However, if you can invest a large capital, an FD may be better.
Is interest earned on RD 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.
