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Enjoy Zero Charges on 28 Commonly Used Savings Account Services
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Unlock new horizons of growth in India’s
first international financial
hub.
The FIRST Global Savings Account is a specialized account for Non Resident Indians (NRI) that can be opened at the International Financial Services Centre (IFSC), GIFT City, Gujarat. Designed exclusively for global Indian citizens, this account offers attractive interest rates, seamless digital access, and regulatory benefits of GIFT City. With world-class banking infrastructure and ease of operation, the FIRST Global Savings Account enables you to manage your foreign earnings effortlessly while enjoying the flexibility of a globally compliant banking solution. Read more
The FIRST Global Savings Account is a unique non-resident savings account offered by IDFC FIRST Bank under the IFSC framework at GIFT City. It is tailored for Non-Resident Indians (NRIs) and allows you to hold your foreign currency earnings. This account enables NRIs to deposit, maintain, and repatriate funds freely, backed by the regulatory environment of GIFT City, which mirrors international financial standards. Alongside global banking access, it offers you attractive returns, minimal paperwork, and the confidence of banking with one of India’s leading financial institutions. It’s the ideal choice for managing offshore income with efficiency and being able to manage your entire banking one single app! This account enables NRIs to deposit, maintain, and repatriate funds freely, backed by the regulatory environment of GIFT City, which mirrors international financial standards. Alongside global banking access, it offers you attractive returns, minimal paperwork, and the confidence of banking with one of India’s leading financial institutions. It’s the ideal choice for managing offshore income with efficiency and being able to manage your entire banking one single app! Read more
The FIRST Global Savings Account is packed with several attractive features, making it a convenient and rewarding banking solution for NRIs:
Earn Attractive/Competitive interest rates on your savings deposit, credited every month for enhanced financial growth.
Enjoy unrestricted repatriation of funds to your country of residence whenever required.
Maintain your funds in major foreign currencies like USD and EUR, eliminating the need for conversions.
Enjoy zero-fee banking on FIRST Global Savings Account and save more on banking services.
Interest earned is tax-exempt under current Indian tax laws for GIFT City savings accounts.
Get personalised assistance for all banking services and enjoy seamless world-class banking.
The FIRST Global Savings Account offers a highly competitive interest rate along with transparent fee structures to suit your global banking needs.
| Particulars | Details |
|---|---|
| Interest Rate | 4.75% per annum |
| Average Monthly Balance Requirement | Zero |
| ATM/Debit Card Issuance | Complimentary |
| Fund Transfer Charges (International) | Zero |
| Account Maintenance Charges | Zero |
Note: All rates and charges are subject to change as per the Bank’s discretion and applicable regulations.
An Initial Public Offering (IPO) is the process through which a private company offers its shares to the public for the first time and becomes a publicly listed company on a stock exchange.
The FIRST Global Savings Account is exclusively available to eligible non-residents who wish to leverage GIFT City's internationally aligned banking ecosystem.
Your allotted shares will be directly credited to this demat account, making the investment process seamless and paper-free.
Your allotted shares will be directly credited to this demat account, making the investment process seamless and paper-free.
Your allotted shares will be directly credited to this demat account, making the investment process seamless and paper-free.
Your allotted shares will be directly credited to this demat account, making the investment process seamless and paper-free.
ASBA (Application Supported by Blocked Amount) makes IPO investing smoother and more convenient for NRIs, especially when managing investments from overseas. It removes payment hassles, adds transparency, and ensures your funds remain fully in your control throughout the process.
Kindly get in touch with your Relationship Manager (RM) for opening an account.
Only AOF is required.
You can hold deposits in major foreign currencies in your FIRST Global Savings Account. The supported currencies currently include:
These options enable you to manage your global income without worrying about exchange rate conversions.
Through Net Banking or Mobile App
Use your secure credentials to access your NRE or NRO bank account online.
This section gives you a consolidated view of available investment options, including IPOs.
You will see a list of ongoing IPOs open for subscription.
Select the IPO, review details, and enter your bid quantity and price (cut‑off or within the price band).
Your application amount will be blocked while continuing to earn interest, and you’ll receive an SMS/Email once your application is successfully submitted.
Through Branch Visit - If you prefer submitting your ASBA form in person:
Visit your nearest IDFC FIRST Bank branch.
Request the IPO ASBA application form
Fill in your details, PAN, demat information, and bid
Submit the form to the branch executive to complete
After application your blocked amount will be untouched, and you will receive an acknowledgment slip.
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.
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