IDFC First Bank will pay interest in savings account every month, know every detail including rate

New Delhi. If you are a customer of IDFC First Bank, a leading private sector bank, then there is important news for you. Actually, the bank has started the facility of paying monthly interest for all its savings bank account holders. The new rules of IDFC First Bank have become effective from July 1.

Most of the banks pay interest every quarter to the customers. Banks are free to credit interest on monthly basis as per RBI norms. There is no compulsion from the central bank in this regard.

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You can easily open an account online
You can open an account in IDFC First Bank online even sitting at home. During this, all the formalities of opening a bank account are completed online. A purchase limit of Rs 6 lakh is being given on the savings account of IDFC First Bank. Along with this, the facility of withdrawing money up to two lakhs per day from ATM is also available.

Bank provides interest at the rate of maximum 5 percent
IDFC First Bank provides interest to its account holders at a maximum rate of 5 percent during a year. The rate of interest is decided on the basis of the amount deposited in the account.

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One crore insurance free
IDFC First Bank provides insurance of one crore free to its account holder. If the account holder dies in a plane accident, then the nominee gets an amount of one crore rupees.

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