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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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Business Max Credit Card
UPI-ready Lifetime Free Low APR -
Business Multiplier Credit Card
Zero Forex Metal Card 10X Rewards
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FIRST Corporate
Lifetime free Travel
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FIRST Purchase
Lifetime free Working capital needs Rewards
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FIRST Business
UPI Rewards 1.99 Forex
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Micro Enterprise Credit card
UPI-ready Udyam registered MSMEs
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Earn up to 6.50% interest on your Savings Account
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- Premium Metal Credit Cards
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- FD-Backed Credit Cards
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- Affordability & Cashback Credit Cards
- Fuel & Insurance Credit Cards
- Commercial Cards
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Business Max Credit Card
UPI-ready Lifetime Free Low APR
-
Business Multiplier Credit Card
Zero Forex Metal Card 10X Rewards
-
FIRST Corporate
Lifetime free Travel
-
FIRST Purchase
Lifetime free Working capital needs Rewards
-
FIRST Business
UPI Rewards 1.99 Forex
-
Micro Enterprise Credit card
UPI-ready Udyam registered MSMEs
-
- Others
Unlock features, exclusively available
only on the IDFC FIRST Bank app
Details
SN |
Nature of default /delay |
Reckoning of Penal Charge |
Penal Charge applicable rate payable monthly^ |
1. |
Payment default for: a. Interest/Principal b. irregular due to drawings beyond DP Limit (only Fund Based) c. BG invocation or LC devolvement or export credit liquidation from non-export proceeds (as applicable) d. other charges (other than reimbursement) as may be specified |
Overdue Penal Charge may be charged from the due date till such time as the default amount is paid
|
Penal charge# of 2% p.a. (excluding GST) on default/ overdue amount as applicable. For Supply Chain Finance, Penal charge# of 6% p.a. (excluding GST) on default/ overdue amount as applicable. |
2. |
For any other breach |
Penal Charge to be levied from the date of delay or non-compliance with stipulated covenants till the same are cured/complied with to the satisfaction of the Bank. |
Fund Based – Penal charge# of 2% p.a. (excluding GST) on the Outstanding amount. |
3. |
Non-creation/perfection of security within the timeliness |
Penal Charge due to non-creation of security within the timeliness, and/or fails to comply with any of the covenants relating to the Security to be calculated from expiry of timeline for creation/perfection |
Fund Based – Penal charge# of 2% p.a. (excluding GST) on the Outstanding amount. |
# Penal Charges shall be levied over and above the Applicable Rate of Interest.
^ In syndication, selldown or consortium cases, the applicable penal charges shall be aligned with those levied by the other lenders considering common documentation is executed with the borrower.
