Launching Zero-fee, higher interest, tax efficient Savings Account in USD
& EUR with digital banking experience
Mumbai, 17th December 2025 : IDFC FIRST Bank unveils its ‘IDFC FIRST Global Savings
Account in USD and Euro’, designed exclusively for Non-Resident Indians
(NRIs) through GIFT City, Gujarat. This offering is distinct from a domestic or
NRI savings account and is specially designed for customers who wish to operate
and maintain Savings Accounts in foreign currencies.
Key Benefits of IDFC FIRST Global Savings Account:
- 100%
Repatriability: Both the principal and
the interest earned are freely and fully transferable to
overseas bank account without any limits or restrictions. - Hold
funds in USD or EUR without conversion risk
and with global flexibility. - Convenient,
paperless, and efficient digital transfers
from GIFT City to anywhere in the world. - Zero remittance Fee on Transfers
- TDS
exempted interest on FIRST Global Savings
Account and Fixed deposits for NRIs. - Attractive
Interest rate of 4.75% currently, for balances
in USD Savings Account. - Monthly
Interest Credit resulting in monthly
compounding interest earning for customers. - Single
Mobile Banking App Experience to manage both
NRI and the GIFT City Global Savings accounts. - Integrated
Banking Experience and convenience of a single
Relationship Manager for NRI and GIFT City banking needs. - Option
to book USD and Euro Fixed Deposit at
Attractive Rates.
Mr. Ashish Singh – Head Retail Liabilities at
IDFC FIRST Bank, said: “The FIRST Global
Savings Account is set to redefine how NRIs bank with India. Through this
proposition, we offer NRIs the facility to keep their savings accounts in USD
or Euro, earn higher interest rates, Zero Fee Remittances and also enjoy IDFC
FIRST high quality digital experience, with trust and high security. It is our
constant endeavour to design our products based on the evolving needs of our
customers, and this offering marks a significant step towards simplifying
international banking for global Indians.”
With this launch, IDFC FIRST Bank reaffirms its
commitment to empowering the global Indian community and provide benefits including
cost savings on forex charges, convenient international remittances, and
currency flexibility for global funds management.
Customers can visit our website to access the
complete information and open the account
About the Bank
- Vision: To build a world-class Bank in India, founded with principles
of Ethical, Digital, and Social Good Banking. - Scale: IDFC FIRST Bank is one of India’s fast-growing private
banks, building its UI, UX, and tech stack like a fintech. As of September
30, 2025, the Bank serves 35 million customers, with a customer business
of Rs. 5,35,673 crore ($60.4b) comprising customer deposits of ₹2,69,094
crores ($30.3b) and loans & advances of ₹2,66,579 crores ($30.0b).
Customer deposits grew 23.4% YoY and loans 19.7% YoY. We reach over 60,000
cities, towns, and villages, operate through 1,041 branches. - Scope: We are a universal Bank offering complete range of
services, including NRI, Retail, MSME, Rural, Startups, Corporate Banking,
Cash Management, Credit Cards, Wealth Management, Deposits, Government
Banking, Working Capital, Trade Finance, and Treasury solutions. - Ethical
Banking: We are committed to doing
right even when customers are not watching. We have simplified descriptions,
calculations, and legal jargon to avoid confusing customers. - Digital
Banking: The Bank’s modern technology
stack delivers high-quality services across all channels like mobile,
branch, internet banking, call centers, and relationship managers. Built
on cloud-native, API-led, microservices architecture, supported
with data, analytics, AI, and fine aesthetics, we strive to
deliver fintech-grade experiences on banking platform. - Social
Good: We work for society. We have
financed 40 million loans including 3.6 million women entrepreneurs. We
have financed over 7.5 million lifestyle improvement loans (for laptops,
washing machines, refrigerators etc. that enhance the quality of life of
middle class), 2.5 lakh electric 2W and 3W vehicles, 2.7 lakh water, sanitation,
and hygiene loans, 2 million livelihood (cattle) loans, and over 300,000
SMEs. On deposits, we provide access of premium investment research, which
is usually reserved for the wealthy, even to those holding balances as low
as ₹5,000, even to Rural India. Our ESG scores are high and improving. - Customer
Friendly Banking: We make banking easy by
having a customer first approach. We have waived fees on 36 essential
savings account services which are commonly charged in the market, the
first and only bank in India to do so. We create “pull” products that
customers actively seek out. - Governance: We adhere to regulatory guidelines in letter and
spirit and actively work with regulators to make things better. We
take pride in maintaining highest levels of corporate governance. - Shareholders: We are building a diversified universal banking
portfolio designed to deliver consistent ROE of 16%+. - Employees: IDFC FIRST Bank is designed to be a happy place to work,
with cutting-edge roles, meaningful growth opportunities, and a culture of
meritocracy. Compensation is healthy, efforts are recognized, and
employees experience the pride and excitement of creating a
world-class Bank in India.
