Bank RD Comparison Tool
IDFC First Bank vs Mahindra Finance Recurring Deposit Comparison 2026
Compare Recurring Deposit interest rates, maturity amounts, and features between IDFC First Bank (Private Sector) and Mahindra Finance (Private Sector).
IDFC First
Private Sector
VS
Mahindra Finance
Private Sector
IDFC First: Min ₹1,000
Mahindra Finance: Min ₹0
DICGC Insured up to ₹5 Lakhs
Compare Your RD Returns
Adjust the parameters below to see how returns compare between the two banks
₹
Five Thousand rupees
₹1,000₹50,000
years
1 year10 years
Interest Rate Comparison
Interest Rates by Tenure
General rates across different tenures
Current selection: 3 years (1095 days) -IDFC First: % |Mahindra Finance: %
Side-by-Side Rate Comparison
Direct comparison of general rates
IDFC First
Mahindra Finance
Highlighted = Your selected tenure
Feature Comparison
Features | IDFC First Private Sector | Mahindra Finance Private Sector |
|---|---|---|
Minimum RD Amount | ₹1,000 | ₹0 |
Current Interest Rate(Selected Tenure) | % | % |
Premature Withdrawal Penalty | 1% | 1% |
Official Rate Source | View Official Rates | View Official Rates |
IDFC First Bank
Private Sector Bank
Key Advantages:
Private sector bank with digital-first approach
Competitive FD rates up to 7.5% for senior citizens
Premium rates on select tenures (450 days - 2 years)
No penalty on premature RD closure for senior citizens
No penalty for missing RD installments
Senior citizens get +0.50% additional interest
Online account opening and FD booking
Mahindra Finance
Private Sector Bank
Key Advantages:
NBFC with CRISIL AAA/Stable and India Ratings IND AAA/Stable ratings
Senior citizens get +0.25% additional interest for Samruddhi Deposits
Senior citizens get +0.10% additional interest for Dhanvruddhi Deposits (up to 5 Cr)
Employees/Employees' relatives get +0.35% additional rate for Samruddhi Deposits (up to 5 Cr)
Additional 0.05% p.a. on all renewal of deposits (w.e.f. 1st June 2025)
Flexible interest payout options: Monthly, Quarterly, Half-yearly, Yearly
Minimum deposit: ₹5,000
Maximum deposit: ₹5 crores
Tenure: 12 to 60 months
Rates effective from 25th June 2025
Important: Recurring Deposit Safety & Insurance Coverage
₹5 Lakh Insurance Limit
The Deposit Insurance and Credit Guarantee Corporation (DICGC) provides insurance coverage of up to ₹5 lakhs per depositor per bank. This includes both principal and accrued interest for RDs.
⚠️ Recommendation:
Keep your total deposits (RDs + FDs + Savings) under ₹5 lakhs per bank. If you need larger investments, distribute them across multiple banks.
Smart Distribution Strategy
Multiple RDs: Open RDs in both IDFC First and Mahindra Finance
Family Accounts: Use different family members' accounts for additional coverage
💡 Pro Tip:
RDs are perfect for goal-based investing. You can open separate RDs for different financial goals across different banks to maximize returns and safety.
Key Insights & Recommendations
Choose IDFC First If:
- • Minimum amount: ₹1,000
- • Private Sector banking preference
- • Private sector bank with digital-first approach
- • Competitive FD rates up to 7.5% for senior citizens
- • Premium rates on select tenures (450 days - 2 years)
Choose Mahindra Finance If:
- • Minimum amount: ₹0
- • Private Sector banking preference
- • NBFC with CRISIL AAA/Stable and India Ratings IND AAA/Stable ratings
- • Senior citizens get +0.25% additional interest for Samruddhi Deposits
- • Senior citizens get +0.10% additional interest for Dhanvruddhi Deposits (up to 5 Cr)
Best Strategy:
- • Open multiple RDs for different goals
- • Keep ≤₹5L per bank for insurance
- • Compare rates before investing
- • Consider branch convenience
- • Review rates periodically
Explore more RD comparisons
Jump to other recurring deposit comparisons using these quick links.
Compare IDFC First with other banks
Compare Mahindra Finance with other banks
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