This is a good financial investment for a steady stream of monthly income, without touching your principal savings.įeatures of FD interest rate with IDFC FIRST Bank You can simply deposit a large sum of money that you would not be needing for a while, and enjoy the monthly interest pay-outs on your deposit. Tenures can be tweaked as per your needs.įixed Deposit rates provide both a set level of protection and a consistent stream of income.Earn interest on your savings and see your money grow.When compared to other customers, senior citizens are provided with better bank fixed deposit rates.Investing in tax-saving fixed deposits might result in tax savings of up to ₹1.5 lakh each year.Depending on your needs, you can have the FD interest credited to your account on a monthly, quarterly, or annual basis.You can effortlessly liquidate your FD and use the cash in the event of an emergency.It is roughly 2% higher than the FD interest rate. You can borrow up to 90% of your deposit amount at low fixed deposit rates.The Reserve Bank of India (RBI) insures your deposits up to ₹5 lakhs.The returns on your fixed deposits are unaffected by market risks.A few benefits of Fixed Deposits and FD interest rates are:
