Latest news with #IDFCFIRSTBank
The Hindu
17 hours ago
- Business
- The Hindu
Scholarships: June 21, 2025
National Overseas Scholarship Scheme for ST Students An opportunity offered by the Ministry of Tribal Affairs, Government of India. Eligibility: Students from the Scheduled Tribes (ST) communities who hold a Master's, Ph.D. or postdoctoral degree, have secured 55% or equivalent in the previous qualifying examination and have an annual income of less than ₹600,000. Rewards: $15,400 per year and other benefits. Application: Online Deadline: June 30 IDFC FIRST Bank MBA Scholarship A need-based scholarship programme run by IDFC FIRST Bank. Eligibility: Indian students enrolled in the first year of a two-year, full-time MBA programme for the class of 2027 at selected educational institutions with a gross annual family income of less than or equal to ₹600,000. Rewards: ₹100,000 per year Application: Online Deadline: June 30 FAEA Scholarship Offered by the Foundation for Academic Excellence and Access (FAEA). Eligibility: Students residing within within the Mumbai Metropolitan Region (MMR) who scored overall 85% or above in Class 10 Board exams in 2025 and have secured admission for Class 11 in any stream in the Mumbai Metropolitan Region (MMR) with an annual family income of ₹320,000 or below. Rewards: Tuition fee, hostel and mess charges, maintenance and other allowances. Application: Online Deadline: June 30 Courtesy: Buddy4study
Mint
09-06-2025
- Business
- Mint
IDFC FIRST Bank Mayura Credit Card: Earn up to 50X reward points – Is it worth it?
From the start of June 2025, IDFC FIRST Bank has announced the revamp of its credit cards. The bank has introduced Bonus Reward Points for flights and hotels booked through the IDFC FIRST Mobile App. The bank has also increased the value of each reward point for some credit cards. For the IDFC FIRST Bank Mayura Credit Card, the bank is offering 50 Bonus Reward Points for every Rs. 150 spent on hotel bookings and 30 Bonus Reward Points/Rs. 150 spent on flights. The bank has doubled the value of each reward point from Rs. 0.25/point to Rs. 0.50/point. In this article, we will understand the latest Mayura Credit Card changes in detail, the other features and benefits of the card, and whether you should take it. The IDFC FIRST Bank Mayura Credit Card is a premium metal card offering from IDFC FIRST Bank. The card offers the following features and benefits. benefit of Rs. 4,000 cashback: The card offers a welcome benefit of Rs. 4,000 cashback. The cardholder must do four transactions of Rs. 1,000 or above within the first 60 days. For each such eligible transaction, the cardholder will get Rs. 1,000 cashback. The cashback will be credited towards the statement balance within 7 days of completing the transactions. The cashback benefit will be applicable only to customers who have paid the card joining fee. forex markup fee: One of the unique features of this card is the 0% forex markup for international transactions. It will benefit people who do regular international transactions from India and/or travel abroad frequently. rewards: The card offers a base reward rate of 1 reward point for every Rs. 150 spent. The cardholder gets an accelerated reward rate of 5X (5 reward points/Rs. 150 spent) on spends of up to Rs. 20,000 in a statement cycle. For spends beyond Rs. 20,000 in a statement cycle, the cardholder gets an accelerated reward rate of 10X (10 reward points/Rs. 150 spent). On the birthday, the cardholder gets a 10X reward rate. Spends on insurance and utility bill payments earn 1 reward point/Rs. 150 spent Spends on rent, education, wallet loads, and Government spends earn 3X reward points There will be no reward points on fuel purchases, and transactions converted into EMI. lounge access: The cardholder can get up to four complimentary domestic airport lounge and spa access per quarter. It includes one complimentary visit per quarter for an accompanying guest. The cardholder can get up to four complimentary international airport lounge access per quarter. A minimum spend of Rs. 20,000 is required in a calendar month to unlock complimentary airport lounge and spa access in the following month. trip cancellation cover: Have you booked a non-refundable flight or hotel using the Mayura Credit Card and have to cancel it due to any reason? You need not worry at all. The card provides you reimbursement for cancellation of non-refundable flight and hotel bookings. The reimbursement is up to Rs. 50,000, twice a year. lounge access: Enjoy up to four complimentary railway lounge access per quarter across India. offer on BookMyShow: If you are a movie fan, you can enjoy the Buy One Get One (BOGO) offer on movie tickets booked on BookMyShow. The maximum discount on the second movie ticket is Rs. 500. The offer can be availed twice in a calendar month. surcharge waiver: The 1% fuel surcharge will be waived at all fuel stations across India for transactions between Rs. 200 and Rs. 5,000. The maximum waiver will be Rs. 300 in a statement cycle. The bank has announced some changes to the reward points program effective from 1st June 2025, which are hugely positive for cardholders. Cardholders will enjoy a 30X bonus reward rate (30 bonus reward points/Rs. 150 spent) on flight bookings done through the IDFC FIRST Mobile App. Similarly, hotel bookings done through the IDFC FIRST Mobile App will get a 50X bonus reward rate (50 bonus reward points/Rs. 150 spent). The Bonus Reward Points are over and above the regular reward points. A cardholder can earn a maximum of 25,000 bonus reward points every month. The redemption value of each point is Rs. 0.25. However, when the points are redeemed for flight or hotel bookings through the Travel & Shop Section of the IDFC FIRST Mobile App, the redemption value of each point is Rs. 0.50 (double the regular redemption rate of Rs. 0.25). The cardholder can pay through reward points for up to 70% of the travel booking amount and the remaining amount using the Mayura Credit Card. Up to 1.5 lakh reward points can be redeemed per month for travel. Similarly, a cardholder can redeem up to 3 lakh reward points annually for travel. Let us take an example to understand how an IDFC FIRST Bank Mayura Credit Card holder can earn 20% value back on travel spends. Assume that Leena has already spent more than Rs. 20,000 on her IDFC FIRST Bank Mayura Credit Card in the current month. She makes a hotel booking worth Rs. 6,000 using her credit card on the IDFC FIRST Mobile App. On this transaction of Rs. 6,000, Leena will earn 400 regular reward points (10 reward points/Rs. 150 spent). She will also earn 2,000 Bonus Reward Points (50 Bonus Reward Points/Rs. 150 spent on hotel bookings through the IDFC FIRST Mobile App). Leena will earn a total of 2,400 reward points (400 regular reward points + 2,000 Bonus Reward Points) on the hotel booking transaction of Rs. 6,000. She can redeem these 2,400 reward points (at the rate of Rs. 0.50 per reward point on the travel section) and get a redemption value of Rs. 1,200. Thus, a Rs. 6,000 spend can earn 2,400 reward points that can be redeemed for Rs. 1,200, translating into a value back of 20%. So, hotel bookings made on the IDFC FIRST Mobile App can get you up to 20% value back. Fees: The joining and annual fee for the IDFC FIRST Bank Mayura Credit Card is Rs. 5,999 + Taxes. The cardholder can get a joining bonus of Rs. 4,000 cashback by doing 4 transactions of Rs. 1,000 or more in the first 60 days. The IDFC FIRST Bank Mayura Credit Card has good features and benefits. Some of these include 10 reward points/Rs. 150 spent beyond Rs. 20,000 in a month, 0% forex markup, complimentary airport and railway lounge access, BOGO movie ticket offer, free trip cancellation cover, etc. The latest additions of up to 50X reward points on travel spends, and the increase in redemption value of a reward point to Rs. 0.50 have further enhanced the value proposition of this card. If you travel regularly, the IDFC FIRST Bank Mayura Credit Card, which can provide a value back of up to 20%, can be a great addition to your wallet. Gopal Gidwani is a freelance personal finance content writer with 15+ years of experience. He can be reached at LinkedIn.
Mint
02-05-2025
- Business
- Mint
Going digital? Secure your online transactions with a virtual credit card
Online transactions have become an integral part of our daily lives, and ensuring secure and seamless payment is essential in this digital shift. Virtual credit cards offer a safe environment for online spending by protecting sensitive card information. If you are considering virtual cards, the IDFC FIRST Bank FIRST EA ₹ N Credit Card provides security, convenience, and cashback offers through its FD-backed virtual credit card. A virtual credit card is a digital version of a physical credit card, offering a credit card number virtually that you can use for online transactions. Unlike some virtual cards that generate new card numbers for every transaction, fixed-number virtual cards are stable and convenient for recurring payments. The FIRST EA ₹ N Credit Card by IDFC FIRST Bank is an example of this. Backed by a fixed deposit (FD), this card can be obtained without the need for a salary cheque or credit history verification. By opening an FD with as little as ₹ 5,000, you can obtain a credit limit of a minimum 100% of the FD value. This can be an option, especially if you are a first-time credit card user looking to build your credit profile. Virtual credit cards like the FIRST EA ₹ N card offer a range of benefits for shopping and payments: Enhanced security: Virtual cards can reduce the risk of fraud by keeping your physical card details hidden, potentially avoiding card cloning or data breaches. Cardholders may also benefit from lost card liability coverage up to ₹ 25,000 and personal accident cover worth ₹ 2,00,000 in case of mishaps. Convenient digital payments: The FIRST EA ₹ N Credit Card allows for making purchases using your smartphone, reducing the need to carry a physical card. Cashback offers: Cardholders can earn cashback on spends made via the IDFC FIRST Bank mobile app (capped at ₹ 500 per statement cycle). Cashback is also available on UPI transactions through other apps and on utility payments, insurance premiums, and wallet loads done via the IDFC FIRST Bank mobile app. There is also cashback on the first UPI transaction with FIRST EA ₹ N. Discounts and perks: Cardholders may enjoy discount of 25% on movie tickets booked through Zomato and can avail complimentary roadside assistance. Financial backing and protection: While you have uninterrupted access to funds, you also earn 7.25% p.a. interest on your fixed deposit while using the credit limit. For those new to credit cards, the FIRST EA ₹ N Credit Card offers a combination of accessibility, security, and potential reward. Here's why it's notable for first-time users: No credit history required: This card can be obtained without prior credit experience or income proof by opening a fixed deposit with IDFC FIRST Bank. This card can be obtained without prior credit experience or income proof by opening a fixed deposit with IDFC FIRST Bank. FD-backed security: The FD secures the credit limit, which may help users build credit responsibly. The FD secures the credit limit, which may help users build credit responsibly. Easy UPI integration: FIRST EA ₹ N is a virtual RuPay credit card, allowing for UPI integration and shopping across merchants by scanning a QR code. FIRST EA N is a virtual RuPay credit card, allowing for UPI integration and shopping across merchants by scanning a QR code. Fees: With a joining and annual fee of ₹ 499 + GST, you gain access to premium features without a heavy price tag. With a joining and annual fee of 499 + GST, you gain access to premium features without a heavy price tag. Virtual access: Cardholders can apply, complete KYC, and potentially start using the virtual card quickly. Cardholders can apply, complete KYC, and potentially start using the virtual card quickly. Rewards: Cashback deals may be available on various spends like shopping online, paying bills, or dining out. The IDFC FIRST Bank FIRST EA ₹ N Credit Card offers online payment security and potential value through rewards, discounts, UPI integration, and security features. Securing the card against an FD allows for credit access without needing a credit history, which can make it an option for first-time users. Those considering digital transactions may explore the FIRST EA ₹ N Virtual Credit Card for a potentially seamless and secure online spending experience. First Published: 2 May 2025, 05:17 PM IST
Time of India
02-05-2025
- Business
- Time of India
FD interest rate up to 8.70%: Shivalik SFB and IDFC FIRST Bank revise savings account and FD rates
From May 1, 2025, both Shivalik Small Finance Bank and IDFC FIRST Bank have revised their interest rates for savings accounts and fixed deposits. These changes will impact how much customers earn on their deposits, depending on the balance amount and tenure. Here's a quick look at the updated savings and FD interest rates offered by these two banks, along with key details on how interest is calculated. #Pahalgam Terrorist Attack Nuclear Power! How India and Pakistan's arsenals stack up Does America have a plan to capture Pakistan's nuclear weapons? Airspace blockade: India plots a flight path to skip Pakistan Shivalik Small Finance savings account interest rate Shivalik SFB has revised its savings account interest rate. After revision, the bank offers savings account interest rates between 2.50% and 8.20% depending on the balance slab. The rates are effective from May 1, 2025. Savings Bank Account interest is calculated daily on the daily closing balance in the account, at the rate specified by Shivalik Small Finance Bank in accordance with Reserve Bank of India directives. Also read: IndusInd Bank raises FD interest rates on select tenures and Kotak Mahindra Bank reduces FD rate on select tenures by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Google Brain Co-Founder Breaks His Silence: Read These 5 Books And Turn Your Life Around Blinkist: Andrew Ng's Reading List Undo Balance Range Rate of Interest (% p.a.) General Up to 1 Lacs 2.50% Above 1 Lac to 5 Lacs 3.25% Above 5 Lacs to 10 Lacs 3.50% Above 10 Lacs to 25 Lacs 4.00% Above 25 Lacs to 50 Lacs 6.00% Above 50 Lacs to 5 Crore 7.00% Above 5 Crore to 7 Crore 7.25% Above 7 Crore to 10 Crore 7.50% Above 10 Crore to 20 Crore 7.95% Above 20 Crore 8.20% Live Events Shivalik Small Finance Bank FD interest rate Shivalik Small Finance Bank has revised fixed deposit interest rate for deposits below Rs 3 crore. According to data available on the bank's website, Shivalik Small Finance Bank now offers an interest rate ranging from 3.50% to 8.20% per annum on FDs for general citizens and from 4% to 8.70% per annum for senior citizens. Rate of Interest (% p.a.) Amount less than Rs.3 Crores General Senior Citizen 3.50% 4.00% 15 days to 29 days 3.75% 4.25% 30 days to 90 days 4.25% 4.75% 91 days to 180 days 4.75% 5.25% 6 months to less than 9 months 6.00% 6.50% 9 months to 12 months 6.00% 6.50% 12 months 1 day to less than 18 months 8.20% 8.70% 18 months to 24 months 8.20% 8.70% 24 months 1 day to 36 months 7.50% 8.00% 36 months 1 day to 60 months 6.50% 7.00% 60 months 1 day to 120 months 6.25% 6.75% Tax saver FD 5 Years (60 months) 6.50% 7.00% IDFC FIRST Bank savings account interest rate IDFC FIRST Bank has revised its savings interest rate. After revision, the bank offers savings account interest rates between 3% and 7.25% depending on the balance slab. The rates are effective from May 1, 2025. As per Reserve Bank of India directives, savings bank account interest will be calculated on daily end of day balances at the rate of interest as specified by IDFC FIRST Bank from time to time. The periodicity of payment of interest on savings bank accounts is on a monthly basis. Interest will be calculated on progressive balances in each Interest Rate Slab as applicable. Balance (Rupees) Rate of Interest (% p.a., Progressive) <= 5 lac 3.00% > 5 lac <= 10 lac 5.00% > 10 lac <= 25 crs 7.25% > 25 crs <= 50 crs 6.50% > 50 crs <= 100 crs 6.00% > 100 crs <= 200 crs 4.50% > 200 crs 3.50% IDFC FIRST Bank FD interest rates According to data available on the bank's website, IDFC FIRST Bank now offers an interest rate ranging from 3% to 7.75% per annum on FDs for general citizens and from 3.5% to 8.25% per annum for senior citizens. The new rates are applicable from May 1, 2025. Period Rate of Interest (% p.a.) w.e.f. 1 st May 2025 Less than INR 3 Crores 7 – 14 days 3.00% 15 – 29 days 3.00% 30 – 45 days 3.00% 46 – 90 days 4.50% 91 – 180 days 4.50% 181 days – less than 1 Year 5.50% 1 year 6.25% 1 year 1 day – 370 days 6.75% 371 days to 399 days 7.00% 400 days to 500 days 7.25% 501 days – 2 years 6.75% 2 years 1 day – 3 years 6.25% 3 years 1 day – 5 years 6.00% 5 years 1 day – 10 years 6.00%
Mint
27-04-2025
- Business
- Mint
IDFC First Bank share: Is it a stock to buy after Q4 results 2025?
IDFC First Bank share price will remain in focus in Monday's trading session after the private lender announced its fourth quarter results on Saturday, April 26. IDFC First Bank share price closed at 2.45 per cent lower at ₹ 65.99 per share on Friday ahead of the results announcement. The stock has gained over 15.89 per cent in over a month. IDFC First Bank reported its January–March quarter results for the financial year 2024–25 (Q4FY25), posting a 58% decline in standalone net profit to ₹ 304 crore, down from ₹ 724.3 crore in the same period last year. IDFC First Bank reported a 9.8% rise in its net interest income (NII)—the difference between interest earned and interest paid—at ₹ 4,907.1 crore, up from ₹ 4,468.9 crore in the same period last year. The lender's total income for the quarter grew to ₹ 11,308 crore, compared to ₹ 9,861 crore a year earlier, according to a regulatory filing. Meanwhile, interest income climbed to ₹ 9,413 crore for the quarter under review, up from ₹ 8,219 crore in the corresponding quarter of the previous year. The board has also recommended a dividend of ₹ 0.25 per equity share, subject to the approval of shareholders. The bank's gross non-performing assets (NPAs) ratio slightly improved to 1.87% from 1.88% a year ago. Likewise, its net NPAs, or bad loans, decreased to 0.53% from 0.60% in the same quarter of the previous year. However, the bank's total provisions, excluding taxes, doubled to ₹ 1,450 crore from ₹ 722 crore in the corresponding quarter last year. For FY25, the bank's net profit fell by 48% to ₹ 1,525 crore, compared to ₹ 2,957 crore in the previous year, primarily due to challenges in the microfinance sector. 'IDFC FIRST Bank's Q4 FY25 performance shows mixed results. Excluding microfinance business, core operating profit grew 19.9% YoY in Q4 FY25 and 30.6% YoY in FY25, indicating the bank's resilience and growth potential. Overall, the bank's performance reflects its efforts to navigate challenges and focus on long-term growth,' said Seema Srivastava, Senior Research Analyst at SMC Global Securities. According to Sugandha Sachdeva, Founder of SS WealthStreet, IDFC First Bank had been under sustained time-wise and price-wise correction since September 2023, after testing a high of ₹ 100.70 mark. 'A strong technical positive emerged with the formation of a double bottom pattern near the ₹ 52.50 level earlier this month, on both the daily and weekly charts which has triggered a sharp turnaround in sentiment. This classic bullish reversal pattern signaled a potential exhaustion of the prior downtrend. Triggered by the bullish patttern, the stock experienced a sharp rally, gaining over 31.50% in a short period to test a recent high of ₹ 69.08,' Sachdeva added. She further explained that the rapid nature and magnitude of the recent rally suggest the stock may be due for a period of consolidation or profit-booking in the near term. "A retracement towards ₹ 61, around 50% Fibonacci retracement of the recent rally from ₹ 52.46 to ₹ 69.08, appears likely. This zone is expected to act as a strong support, attracting fresh buying interest. From a medium-term perspective, the broader trend remains bullish. Once consolidation plays out, the stock has the potential to resume its upward trajectory, with a target of ₹ 76 and then ₹ 90 eventually in the long term," Sachdeva added. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions. First Published: 27 Apr 2025, 01:23 PM IST
