Accounts
Deposits
Loans
Wealth & Insure
Payments
Cards

Select language

Popular searches

Product Hom e Loan

Products & Services (12)

Apply Now Product Hom e Loan
Apply Now Product Loan Agaisnt Property - Hom e Loan
Apply Now Product Balance Transfer - Hom e Loan
Apply Now Product Hom e Loan EMI Calculator

Recent searches

Download Form Hom e Loan Application Form
Download Product Loan Agaisnt Property - Hom e Loan
Download Article Benefits of Balance Transfer

Notifications

gfra-banner-desktop.jpg

FIRST Global Saving
Account for Resident
Individuals

Unlock new horizons of growth in India’s
first international financial hub.

Open Account

Overview

GIFT City is India's gateway to global financial markets. offering unparalleled business opportunities, world-class infrastructure, and a regulatory environment designed to drive economic growth and international investments.

Read more

Benefits of GIFT City for Resident Indians

While GIFT City offers significant tax benefits for NRIs and foreign investors, Resident Indians also enjoy several advantages:

Benefits of investing in fixed deposits via GIFT City

Investing in fixed deposits through GIFT City offers a unique blend of global access, stable returns, and tax efficiency. It is an ideal option for NRIs looking to grow their foreign currency savings securely.

Global
Market Access

Access to global markets from a unified platform

Currency
Diversification

Investments are made in foreign currencies, offering a natural hedge against INR depreciation*

Streamlined
Processes

Hassle free, simplified account opening process

Direct Access to Global Investment Options

Invest in AIFs, Insurance and more without restrictions

No
TDS

No tax deducted at source on interest income

Monthly
Interest Credits

Enjoy monthly interest credits on your FIRST Global Savings Account - RI

*Currently FIRST Global Savings Account - RI is offered in USD and EURO

Key Considerations for Indian Investors

LRS Compliance

Investments must comply with LRS limits

Income Repatriation

Income earned abroad must be repatriated within 180 days unless reinvested

These options enable you to manage your global income without worrying about exchange rate conversions.

Eligibility

Existing IDFC FIRST Bank customers holding a resident Savings Account can opt for FIRST Global Saving Account - RI.

Fees & Charges

Enjoy zero fee banking on your FIRST Global Saving Account - RI.

FIRST Global Savings Account Interest rates

Please click here to view the FIRST Global Savings Account - RI interest rates.

Documentation

If you are an existing resident Savings Account holder with IDFC FIRST Bank, please click here to download the application form and submit the same at any IDFC FIRST Bank branch.

Frequently asked questions

What kind of Accounts can Resident Indians open in GIFT City?

There are specific regulations that NRIs in the USA must adhere to when opening an NRI account in India. The Reserve Bank of India (RBI) has set guidelines to ensure compliance and transparency. NRIs need to provide valid identification documents, proof of NRI status, and adhere to the Foreign Account Tax Compliance Act (FATCA) regulations. FATCA requires individuals to report their financial accounts held outside the USA, and Indian banks, including IDFC FIRST Bank, must report NRI account details.

In which currencies can a Savings or Current Account be opened or operated in?

Can I access my account online?

How can I view my Account Statement?

Will I receive a chequebook and debit card with the Account?

How can I apply for a Savings Account?

Can I have the Current or Savings Account in joint names?

Is there a Nomination Facility available on my Savings Account?

Can I transfer funds in and out of my Current or Savings Account with GIFT City?