Urban Money

IDFC FIRST Bank

IDFC FIRST Bank
4.5

Infrastructure Development Finance Company (IDFC) is a financial services firm that specialises in infrastructure financing, asset management, and investment banking. IDFC Bank, the company's new endeavour, has joined the banking industry. IDFC Bank aims to cope with customers' distinct needs and to execute the same, it offers numerous loans including, home loans, personal loans, LAP and business loans.

Products offered by IDFC FIRST Bank

  • Home Loan
Loan Amount:₹1L - ₹5Cr
Interest Rate:6.5% - 14%
Processing Fee:Up to 3%
Tenure:30 Years
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  • Personal Loan
Loan Amount:₹50K - ₹40L
Interest Rate:10.49% - 23%
Processing Fee:Up to 3.5%
Tenure:5 Years
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  • Loan Against Property
Loan Amount:₹10L - ₹7Cr
Interest Rate:7% - 20%
Processing Fee:Up to 3%
Tenure:20 Years
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  • Business Loan
Loan Amount:₹1L - ₹9L
Interest Rate:16% - 24%
Processing Fee:2.49% - 5%
Tenure:4 Years
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ProductsInterest RateProcessing FeeLoan Amount/Tenure
Home Loan

6.5% - 14%

Up to 3%

₹1L - ₹5Cr

Tenure(1 - 30 Years)

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Personal Loan

10.49% - 23%

Up to 3.5%

₹50K - ₹40L

Tenure(1 - 5 Years)

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Loan Against Property

7% - 20%

Up to 3%

₹10L - ₹7Cr

Tenure(1 - 20 Years)

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Business Loan

16% - 24%

2.49% - 5%

₹1L - ₹9L

Tenure(Up to 4 Years)

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Features and Benefits of IDFC First Bank

  • Instant account open feature through digital platform through Aadhaar based eKYC.
  • Availability of unlimited free fund transfer.
  • Complimentary card for lifetime, i.e. VISA Signature Debit Card.
  • Earn up to 7 percent interest p.a.
  • No fuel surcharge
  • Incredible insurance offers 
  • Fantastic investment opportunities
  • Access banking products specifically designed for women.
  • Daily ATM withdrawal limit of INR 2 lakhs
  • Availability of extensive loan products at lower interest rates.
  • Free ATM withdrawal

Overview of IDFC First Bank

Infrastructure Development Finance Company (IDFC) is a financial services firm that specializes in infrastructure financing, asset management, and investment banking. IDFC Bank, the company's new endeavour, has joined the banking industry. 

In April 2014, the Reserve Bank of India (RBI) approved two businesses out of a total of 25 banking applicants. One of the companies that received approval was IDFC, a non-banking financial company. The RBI granted the company a banking licence on July 23, 2015.

The bank began operations on October 1, 2015, becoming India's 91st scheduled commercial bank. It's also the banking industry's second newcomer in a decade. IDFC began operations with 23 branches in Delhi, Madhya Pradesh, and Mumbai, as well as 15 branches in three Madhya Pradesh districts.

Vision

“To build a world class bank in India, guided by ethics and customer-first values, powered by cutting-edge technology, and be a force for social good.”

Mission

“We want to touch the lives of millions of Indians in a positive way by providing affordable, high-quality banking products and services to them.”

Products Offered by IDFC Bank

The bank provides various services across India through a number of branches, net banking and mobile banking facilities.

  1. Personal Banking
  2. Business Banking
  3. Wholesale Banking
  4. Wealth Management

Services Offered by IDFC First Bank

The services offered by IDFC Bank are broadly classified in:

Savings and Deposit Account Loan Invest and Insure Cards Banking

Savings and Deposit Account

IDFC Bank offers an extensive range of Savings and Deposit Account for utmost customer convenience. These are:

Savings account Health First Savings Account
Corporate Salary Account Future First Savings Account
Senior Citizen Savings Account Vishesh Savings Account
First Power Pratham Savings Account
Minor's Savings Account Honour FIRST Savings Account
NRI Savings Account Salary Booster Account

Loans

IDFC Bank aims to cope with customers' distinct needs and to execute the same, it offers numerous Loans.

Personal Loan Vyapaar Vridhi- Micro Enterprise Loan
Consumer Durable Loan Sakhi Shakti – JLN Loan for Women
Home Loan Car Loan
Loan Against Property Suvidha Shakti 
Pre-Owned Car Loan Easy Buy EMI Card
Two-Wheeler Loan Education Loan

Invest and Insure

Unlock an array of Investment and Insurance opportunities through IDFC Bank.

Mutual Funds Home Insurance
Sovereign Gold Bonds Travel Insurance
IDFC FIRST Zerodha 3-in-1 Pradhan Mantri Insurance
Investment Linked Insurance ASBA
Term Insurance Atal Pension Yojna
Health Insurance Savings Plan
Motor Insurance Annuity Plan

Cards

You receive debit as well as credit cards to meet financial obligations. Credit Cards are divided into four categories and have their own significance.

  1. FIRST Millennia
  2. FIRST Classic
  3. FIRST Select
  4. FIRST Wealth

Banking

To offer foremost banking experience, IDFC Bank offers:

  1. Balance Enquiry 
  2. Balance Enquiry 
  3. Net Banking
  4. SMS Banking

Contact Number

If you have any query then IDFC offers experts, based upon the product category.
Product Numbers to connect
CASA, Deposits and accounts  1800 419 4332
Loans 1860 500 9900
Rural Banking 1800 419 8332
NRI  022 6248 5152
Credit Card 1860 500 1111

Registered Office Address

IDFC FIRST Bank Ltd KRM Tower, 7th Floor, No. 1, Harrington Road, Chetpet, Chennai - 600031, Tamil Nadu, India

Corporate Office Address

IDFC FIRST Bank Ltd Naman Chambers, C-32, G-Block, Bandra-Kurla Complex, Bandra East, Mumbai - 400051, India

Email ID

[email protected] [email protected]

FAQs

From refinancing to reducing your interest, we have the answers right here.

How can I open an IDFC Bank account online?

You can open an IDFC bank account online by clicking on the savings account option on the homepage. Then all you have to do is enter your name, mobile number, email address, Aadhaar number, occupational details and complete your KYC process.

What is IDFC Bank minimum balance?

IDFC bank provides its customers an option of opening a zero balance savings account. This means that the account holders are not required to maintain a minimum balance in their account.

Can I open a bank account in IDFC bank with zero balance?

Yes, any Indian resident is eligible to open a zero balance savings account with IDFC bank.

What is the maximum limit in IDFC Bank?

The maximum limit for ATM withdrawals is Rs. 1,00,000 and the limit for daily purchases is Rs.1,50,000.

How can I increase my transaction limit in IDFC?

You can increase your transaction limit for IDFC bank either through its mobile application or by logging into your netbanking account.

How can I contact IDFC FIRST Bank?

You can contact IDFC customer service on 1860 500 9900. Alternatively, you can also choose to contact them by email on [email protected]

What is the swift code of IDFC Bank?

The swift code for IDFC bank is IDFBINBBMUM.

How can I know my IDFC Bank IFSC code?

If you know the name and location of your branch, you can look for the IFSC code online on the RBI website. If not, you can always contact IDFC customer service and request for the details. Further, the IFSC code is also mentioned on the account holder’s passbook, chequebook and bank statements.

How to set MPIN for IDFC First Bank?

Given below are the steps to set MPIN for IDFC bank:

  • Click on ‘MPIN’ on the netbanking app login page.
  • Click ‘Setup MPIN’.
  • Enter username and password.
  • Verify number by entering OTP.
  • Set a 4-digit MPIN of your choice.

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