IDFC First Bank to Revise Savings Rates: Small Savers Lose, Mid-Range Gain
Personal Finance
C
CNBC Awaaz•08-01-2026, 10:36
IDFC First Bank to Revise Savings Rates: Small Savers Lose, Mid-Range Gain
- •IDFC First Bank announced revised savings account interest rates, set to be effective from December 17, 2025.
- •Under the new structure, balances up to ₹5 lakh will earn 3%, a reduction for those previously getting 5% on ₹1-5 lakh.
- •A significant benefit is introduced for mid-range balances (₹5 lakh to ₹5 crore), which will now earn 7% interest, up from the previous 5%.
- •Interest rates for higher slabs (above ₹10 crore) largely remain unchanged, minimizing impact on large corporations and HNI customers.
- •The bank's strategy aims to attract customers with mid-sized deposits by offering a highly competitive 7% rate for the ₹5 lakh to ₹5 crore bracket.
Why It Matters: IDFC First Bank's upcoming rate changes favor mid-range savers, disadvantaging small balance holders.
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