IDFC FIRST Bank lowers savings rates, tweaks balance slabs

IDFC FIRST Bank has announced a revision in savings account interest rates and balance slabs effective from January 9, 2026.

Written by FE Bureau

January 9, 2026 06:26 IST

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IDFC First Bank has reduced interest rates on its savings accounts and reworked balance slabs, with the changes coming into effect from Friday, the bank informed on its website. The revision is expected to impact small and mid-level salaried depositors the most.

Impact on Mid-Tier Depositors

Under the new structure, account balances below Rs 1 lakh will now earn interest at 3%. Earlier, this rate applied to balances of up to Rs 5 lakh. The bank has also introduced a new slab offering 5% interest on balances ranging from Rs 1 lakh to Rs 10 lakh.

Understanding the “Progressive” Calculation Method

For savings balances between Rs 10 lakh and Rs 10 crore, the interest rate has been set at 6.50%. This marks a reduction from the earlier framework, under which deposits of Rs 5 lakh to Rs 5 crore earned 7%, while balances between Rs 5 crore and Rs 10 crore attracted 6.75%. Interest rates for higher balance slabs have been left unchanged.

This article was first uploaded on January nine, twenty twenty-six, at twenty-six minutes past six in the morning.