IDFC FIRST Bank

What IDFC FIRST Bank does

IDFC FIRST Bank is a publicly listed Indian universal bank (NSE: IDFCFIRSTB; CIN L65110TN2014PLC097792) headquartered in Mumbai with a registered office in Chennai. The bank was formed through the December 2018 merger of IDFC Bank and Capital First, with the legacy IDFC Limited subsequently merged into the bank in July 2023, and it operates under a Reserve Bank of India universal banking licence held since 2015. As of Q4 FY26 it runs 1,147 branches pan-India with a 43,000+ workforce, holding customer deposits of Rs 2.8 lakh crore (79% retail) and a Tier-1 capital ratio of 13.7%.

The bank operates a hybrid physical-plus-digital model centred on a 300+ feature mobile banking app rated 4.9 stars and ranked India's #1 and #2 globally by Forrester 2025, supported by internet and WhatsApp banking, UPI, UPI123PAY for feature-phone users, FASTag and smartwatch banking. Core products span savings accounts (up to 6.50% p.a.), fixed deposits (up to 7.35% p.a.), personal/business/MSME loans (personal loans starting 9.99% p.a.), a broad credit card franchise (lifetime-free with zero forex markup, plus premium metal variants), wealth management (mutual funds, Demat, PMS, bonds), insurance distribution, NRI banking, and corporate/wholesale banking (Super Account, Rocket Current Account, supply chain finance, treasury, NBFC financing). Co-branded credit cards with LIC, HPCL and IndiGo and ecosystem partnerships (e.g., Raptee.HV for EV financing, Manipal Academy of BFSI for talent) extend distribution beyond branches.

Revenue is generated primarily through interest income on advances (NII of Rs 5,677 crore in Q4 FY26, up 15.7% YoY), fee income from credit cards, forex and remittances, and bancassurance commissions. The bank reported Q4 FY26 net profit of Rs 319 crore (up 4.9% YoY) and full-year FY26 PAT growth of 7.3%, with gross NPAs improving to 1.61%. Go-to-market combines direct-to-consumer onboarding via branches and app, inside-sales via video/phone banking, channel partnerships (co-branded cards), event-driven marketing (Mumbai Tech Week 2026, Inc42 AI Summit 2026) and sales-led corporate/MSME relationship management. A 2026 Chandigarh-branch government-accounts fraud (Rs 590–646 crore) led to CBI/ED investigations, with the bank engaging KPMG for a forensic review, fully reimbursing affected government departments and implementing enhanced centralised controls.

Name

IDFC FIRST Bank

Legal name

IDFC FIRST Bank Ltd.

Website

https://idfcfirstbank.com

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

IDFC FIRST Bank is a publicly listed Indian universal bank offering savings, deposits, loans, credit cards, wealth and corporate banking to retail, MSME, NRI and institutional customers across 1,147 branches and a 300+ feature mobile app.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Depository Credit Intermediation (5221)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Digital Banking & Neobank Platforms (BPAMAFAD)

akta.pro secondary industry

Embedded Deposit Accounts & Digital Wallet Infrastructure (FSAGALAE)

Keywords

• Retail banking services
• Consumer lending products
• Corporate banking solutions
• Credit card services
• Wealth management

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

1. Interest Income on Loans and Advances: Core revenue stream from interest charged on retail loans (personal, home, vehicle, education), MSME and corporate term loans (e.g., Awfis Rs 75 Cr term loan); interest income from advances is the dominant contributor to NII of Rs 5,677 crore in Q4 FY26, up 15.7% YoY.
2. Interest Income on Customer Deposits and Investments: Earnings from deploying customer deposits (Rs 2.8 lakh crore as of FY26, of which 79% is retail deposits) into securities and treasury operations; balance-sheet spread business typical of universal banks.
3. Credit Card Fees and Charges: Recurring fee income from credit card products (APR 8.5%-46.2% p.a.), including membership/annual fees, late payment charges, processing fees and merchant acquiring income from the card portfolio.
4. Forex, Remittance and Transaction Fees: Fee income from NRI remittances, foreign currency conversions (0% forex markup credit cards), digital transaction charges, FASTag issuance and processing fees.
5. Bancassurance and Distribution Income: Commission income from distributing third-party insurance and investment products (mutual funds, wealth) through the bank's branch and digital channels.

Pricing tiers

Go-to-market motion5 records

Distribution channels5 records

Marketing channels7 records

Core offering

IDFC FIRST Bank is a publicly listed Indian universal bank offering a full-stack of retail and corporate financial services. Its core offerings include savings and current accounts, fixed and recurring deposits, a broad retail loan portfolio (personal, home, education, vehicle, gold, LAP), an extensive credit card lineup (lifetime-free variants and premium metal cards), investment and wealth management products (mutual funds, demat, bonds, PMS, insurance distribution), NRI banking services, and corporate/MSME banking including term loans, cash management, treasury, and supply chain finance, all supported by a 300+ feature mobile app and a 1,147-branch distribution network.

Product overview

IDFC FIRST Bank is a universal bank offering a comprehensive platform-plus-modules architecture spanning personal banking, business banking, NRI banking, and wealth management products. The core platform consists of savings accounts (with 6.50% interest p.a. and monthly interest credit feature), current accounts, fixed/recurring deposits, and digital banking infrastructure via the IDFC FIRST Mobile Banking App (with 300+ features). Modular offerings include personal/business/MSME loans (Personal Loan FIRSTmoney, Home Loan, Car Loan, Two Wheeler Loan, Gold Loan, Education Loan, Loan Against Property, Loan Against Securities), a broad credit card portfolio (FIRST Millennia, FIRST Classic, FIRST Select, FIRST Wealth, FIRST WOW!, FIRST EARN, Ashva/Mayura/Gaj metal cards, Diamond Reserve, Business Max, Business Multiplier, Hello Cashback, IndiGo IDFC FIRST Dual, HPCL FIRST Power, LIC Classic & Select), investment products (Mutual Funds, Sovereign Gold Bonds, Demat Account, Bonds, PMS, ASBA), insurance distribution, NRI services (NRE/NRO/FCNR deposits, remittance), corporate banking (Super Account, Rocket Current Account, Cash Management, Supply Chain Finance, Treasury, NBFC Financing), startup/MSME/GIFT City solutions, and FASTag payments. The bank also offers privilege programs (FIRST Select, FIRST Wealth, FIRST Private), the BRAVO auto-sweep feature for current accounts, and runs the IDFC FIRST Academy, FIRST LEAP Program, and Emerging Bankers Program for talent development.

Differentiator

Problem solved

Functional benefit

Brands

• FIRST Select: Privilege/wealth banking program for mass-affluent customers offering curated benefits.
• FIRST Wealth
• FIRST Private
• FIRSTmoney
• FIRST WOW!
• FIRST Millennia
• FIRST Classic
• Ashva
• Mayura
• Business Max
• Business Multiplier
• FIRSTWINGS
• FIRST Pulse
• FIRST LEAP
• Emerging Bankers Program
• IDFC FIRST Academy
• IndiGo IDFC FIRST
• Hello Cashback

Products and services

• Savings Account Flagship retail savings account offering up to 6.50% p.a. interest on balances from Rs 3 lakhs to Rs 25 crores with monthly interest credits and a 4.9-star rated mobile app; variants include Senior Citizens, FIRST Power Women, Minor, Salary and NRI Savings Accounts.
• Fixed Deposit Fixed deposit product offering guaranteed returns up to 7.35% p.a. (up to 7.60% p.a. for senior citizens), available as regular FD, tax-saver FD, and NRI NRE/NRO/FCNR/FCNR Plus deposits, with digital booking via the mobile app.
• Recurring Deposit Recurring deposit product with minimum Rs 100 monthly contribution, allowing customers to build savings through systematic monthly deposits.
• FIRSTmoney Personal Loan 100% digital instant personal loan starting at 9.99% p.a. with approval in 5 minutes, up to Rs 15 lakhs disbursement, and zero foreclosure charges.
• Home Loan Home loan product with up to Rs 10 crore disbursement and attractive interest rates for new purchases, construction and balance transfer.
• Education Loan Education loan product offering up to Rs 1.5 crore for students attending recognised institutions in India and abroad, with or without collateral.
• New Car Loan New car loan offering up to 10-year tenure with affordable interest rates, integrated with the 'Explore Cars' platform for shopping, comparison, and selection.
• Pre-owned Car Loan Pre-owned car loan products including Repurchase (instant loans with minimal documentation) and Refinance (up to 200% of car's value) variants, with up to 7-year tenure.
• Two Wheeler Loan Two-wheeler loan with instant approval and zero documentation, including new and pre-owned variants with repurchase and refinance options, integrated with the 'Explore Bikes' platform.
• Gold Loan Gold loan product offered as part of the loan portfolio with EMI calculator tools available online.
• Loan Against Property Loan against property product allowing borrowing up to 80% of property's value, offered under both Personal and Business Banking verticals.
• Loan Against Securities Loan against investments/securities allowing customers to get quick funds without liquidating their investments, available under wealth management.
• Consumer Durable Loan Consumer durable loan with instant approval on loans up to Rs 8 lakhs for the purchase of consumer electronics and appliances.
• Business Loan Unsecured business loans up to Rs 1 crore for supporting business needs of MSMEs, self-employed professionals, and business owners.
• Professional Loan Unsecured professional loan up to Rs 1 crore tailored for Doctors, Chartered Accountants, and Architects.
• Working Capital Loan Working capital loan product to support day-to-day business operations and cash flow management.
• Current Account Business current account with multiple variants including Super Account (industry-first), Rocket Current Account, Gold Current Account, Platinum Current Account with Auto-Sweep FD, World Business Account, Startup Current Account, TASC Institutional Accounts, Merchant Multiplier Account, Agri Multiplier Account, Dynamic Current Account, and Zero Forex Markup Current Account.
• Mutual Funds Investment product offering access to over 2,500 mutual funds with curated handpicked funds, expert research, and forward-looking guidance, available via the mobile app.
• Demat Account Paperless Demat account opening with single account integration for demat, trading, and banking benefits; 3-in-1 account variant available.
• Sovereign Gold Bonds Government-backed gold bond investment product offering gold exposure at a discount with potentially higher returns than physical gold.
• Bonds Bond investment products distributed through the wealth management platform.
• Portfolio Management Service (PMS) Portfolio Management Service offering professionally managed investment portfolios for wealth management clients.
• Insurance Distribution (Multi-line) Distribution platform offering Term Insurance, Life Insurance, Health Insurance, Investment Linked Insurance (ULIP), Motor Insurance, Home Insurance, Travel Insurance, Pradhan Mantri Insurance schemes, Atal Pension Yojana, Savings Plan, Annuity Plan, and Business Insurance Plan.
• FASTag FASTag services as part of the bank's payments portfolio, including a 3-in-1 FASTag for Tolling, Fuel and Parking payments, with recharges available via WhatsApp.
• Forex Services Foreign exchange services including outward and inward remittances, retail forex offerings, foreign currency exchange, and zero processing fees on global transfers.
• UPI Payments Unified Payments Interface payment service supporting peer-to-peer and merchant payments through the mobile app, with UPI123PAY support for feature phone users and a FIRST Rs UPI PPI wallet for foreign travellers.
• Debit Card Debit card product with enhanced ATM withdrawal limits up to Rs 2 lakh daily and POS transaction limits up to Rs 6 lakh for the Rs 25,000 AMB Savings Account variant, with Business Debit Cards available.
• FIRST Millennia Credit Card Lifetime-free credit card offering up to 10X reward points and 300+ merchant offers year-round, with no minimum spend conditions.
• FIRST Classic Credit Card Lifetime-free credit card with up to 10X reward points, shopping and lifestyle benefits, and railway lounge access.
• FIRST Select Credit Card Lifetime-free credit card with up to 10X reward points, 1.99% forex markup, domestic airport lounge access, shopping benefits, and lifestyle privileges.
• FIRST Wealth Credit Card Lifetime-free premium credit card with up to 10X reward points, 1.5% forex markup, lounge access, and golf access benefits.
• FIRST WOW! Credit Card FD-backed lifetime-free credit card with zero forex markup, up to 4X reward points, and up to 200% of fixed deposit as credit limit while earning up to 6.75% interest on the FD.
• FIRST WOW! Black Credit Card FD-backed dual credit card with zero forex markup, complimentary UPI, and lounge access.
• FIRST EARN Credit Card FD-backed virtual RuPay credit card with up to 1% cashback on UPI spends and a low annual fee of Rs 499.
• FIRST Digital Credit Card UPI-enabled RuPay credit card offering 3X reward points on UPI transactions, starting at Rs 199.
• FIRST Power & Power+ Credit Card UPI-enabled fuel credit card co-branded with HPCL offering up to 175 litres of free fuel annually, starting at Rs 199.
• FIRST SWYP Credit Card EMI credit card offering welcome offers worth ~Rs 5,000+ and up to 20% instant discount on Zomato, Dominos, and other merchants.
• Ashva Metal Credit Card Premium metal credit card with 1% forex markup, up to 40X reward points, lounge and golf access, with an annual fee of Rs 2,999.
• Mayura Metal Credit Card Premium metal credit card with zero forex markup, up to 40X reward points, lounge & golf access, with an annual fee of Rs 5,999.
• Gaj Credit Card By-invitation-only metal credit card with zero forex markup, offering up to 33.33% value back on credit card spends, with an annual fee of Rs 12,500.
• Diamond Reserve Credit Card Travel-oriented credit card with 0% forex markup, 10% value back, lounge access, golf privileges, and movie benefits, with an annual fee of Rs 3,000.
• IndiGo IDFC FIRST Dual Credit Card Co-branded dual credit card with IndiGo airline allowing customers to earn IndiGo BluChips and redeem on IndiGo flights, with the power of two networks and an annual fee of Rs 4,999.
• LIC Classic & LIC Select Credit Card Co-branded credit card with LIC offering lifetime-free status, 2% savings on LIC insurance premium payments, and rewards.
• Business Max Credit Card UPI-ready, lifetime free, low APR (12% p.a.) credit card with up to 6 reward points; FD-backed business card targeted at MSMEs and businesses.
• Business Multiplier Metal Credit Card FD-backed metal business credit card for entrepreneurs and business owners with zero forex markup, complimentary UPI, up to 10 reward points per Rs 200 on business categories, 45 days interest-free credit, and lounge access; minimum FD Rs 50,000 and annual fee Rs 1,000.
• FIRST Corporate Credit Card Lifetime-free corporate travel credit card for business expenses.
• FIRST Purchase Credit Card Credit card for working capital needs with rewards-based structure.
• FIRST Business Credit Card SME business credit card with 1.99% forex markup and travel benefits.
• Micro Enterprise Credit Card Credit card for Udyam-registered MSMEs (micro enterprises).
• NRI Savings Account Non-Resident Indian savings account offering up to 6.50% p.a. tax-free interest on NRE accounts, monthly interest credits, dedicated relationship manager, one-click PIS account opening, and zero-fee fund transfers.
• NRI Fixed Deposit (NRE/NRO/FCNR) NRI deposit products including NRE Fixed Deposit, NRO Fixed Deposit, FCNR Deposit, and FCNR Plus Deposit offering assured returns on foreign currency, with FCNR Plus Deposit offering higher USD returns with zero INR exchange rate risk.
• RemitFIRST2India Online money transfer service for NRIs to remit funds to India, supporting wire transfers from the USA, UK, UAE, Canada, and Australia with personalised exchange rates.
• IDFC FIRST Bank GIFT City Branch GIFT City branch offering global savings account, trade finance, loans, current account, and fixed deposits for international/NRI banking needs.
• Super Account (Corporate) Industry-first corporate current account product with single-window experience, intelligent report builder capability, and a unique online trade regulatory portal.
• Rocket Current Account Corporate current account product tailored for dynamic business needs.
• Cash Management Services Cash management services for corporate and institutional clients, including bulk payments, salary and vendor payments, and collection/payment solutions.
• Supply Chain Finance Corporate-linked finance solutions for supply chain participants.
• Corporate Lending Corporate lending solutions for institutional and business clients.
• Treasury Services Treasury and capital market services for corporate clients.
• NBFC Financing Financing solutions for Non-Banking Financial Companies (NBFCs).
• Startup Banking Solutions Startup banking services including Early Stage current account, Growth Stage working capital, Investor banking, FIRSTWINGS Connect, Startup Lounge, and FIRST Symphony programs; zero-balance startup current account for the first 3 years.
• IDFC FIRST Mobile Banking App Flagship mobile banking application offering 300+ features, Personal Finance Management, Google-like search, customer service support, mutual fund investing, ASBA-IPO facility, and UPI integration; rated 4.9 stars, trusted by 1.2+ million users, and ranked #1 in India and #2 globally by Forrester 2025.
• Watch Banking Smart watch banking service enabling customers to access banking services via wearable devices.
• Digital Trade Solutions (Online Trade Portal) Online Trade Portal (OTP) digital trade solutions for import, export, remittances, bank guarantees, inland trade, foreign exchange, and capital account services.
• Point of Sale (POS) Terminals POS terminal solutions for merchant payment acceptance.
• Payment Gateway Online payment gateway service for businesses to accept digital payments.
• Safe Deposit Locker Secure safe deposit locker service for storing valuables, with up to 50% discount on first-year locker rentals for Women's Savings Account holders.

Quantifiable outcome

• 17.3% YoY growth in customer deposits
• +5 more outcomes

Named customers3 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability8 records

Feature6 records

Partnerships

Twelve partnerships are on record, tiered flagship, minor and core.

• Raptee.HVflagshipStrategic or Co-development PartnerStrategic ecosystem partnership covering financing of EV two-wheelers, with IDFC FIRST Bank providing loan products to Raptee.HV customers and Raptee.HV bringing a new-economy EV distribution channel.
• Indian Overseas BankminorStrategic or Co-development PartnerListed as a financing partner supporting the Raptee.HV EV financing ecosystem, providing additional lender capacity alongside IDFC FIRST Bank for vehicle loans.
• Shriram FinanceminorStrategic or Co-development PartnerParticipates in the Raptee.HV financing ecosystem as a co-lender for vehicle financing alongside IDFC FIRST Bank.
• Muthoot Risk InsuranceminorStrategic or Co-development PartnerRisk insurance partner in the Raptee.HV financing ecosystem, underwriting loans co-originated with IDFC FIRST Bank and other lenders.
• KPMGcoreImplementation/ SI/ Consulting PartnerEngaged by IDFC FIRST Bank to conduct a forensic review of a fraud case involving forged signatures and unauthorised withdrawals, providing independent audit and assurance to support recoveries.
• MetacoreGTM or Marketing PartnerCo-sponsor of Mumbai Tech Week 2026 alongside IDFC FIRST Bank, providing joint marketing reach into India's startup, developer and tech ecosystem.
• Manipal Academy of BFSIcoreImplementation/ SI/ Consulting PartnerTraining and certification partner running the Emerging Bankers Program for IDFC FIRST Bank, building a pipeline of industry-ready banking talent.
• Bennett UniversitycoreImplementation/ SI/ Consulting PartnerAcademic partner supporting the FIRST LEAP emerging bankers programme, co-developing curriculum and case-based learning for future bankers.
• TimesProminorImplementation/ SI/ Consulting PartnerSkilling partner collaborating on the FIRST LEAP emerging bankers programme to deliver industry-aligned banking education.
• Hindustan Petroleum Corporation Limited (HPCL)coreChannel Partner/ Reseller/ DistributorCo-branded credit card partnership with IDFC FIRST Bank, leveraging HPCL's fuel-station customer base to distribute lifetime-free credit cards and drive fuel-linked rewards.
• IndiGo AirlinescoreChannel Partner/ Reseller/ DistributorCo-branded credit card partnership with IDFC FIRST Bank, distributing travel-linked credit cards through IndiGo's large domestic flyer base.
• Awfis Space SolutionscoreStrategic or Co-development PartnerCorporate banking relationship in which IDFC FIRST Bank extended a Rs 75 crore term loan to Awfis for workspace expansion, anchored by relationship-led corporate banking coverage.

Scale indicators14 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Axis Bank: Large Indian private bank with overlapping retail, MSME, corporate and credit card offerings; competes head-to-head with IDFC FIRST Bank in personal loans, savings and cards.
• Kotak Mahindra Bank: Indian private-sector universal bank with a strong retail franchise, digital banking focus (811), and a personal loan and credit card portfolio directly comparable to IDFC FIRST Bank.
• Federal Bank: South-anchored Indian private bank with a retail and NRI banking franchise; comparable in deposit-led retail model and digital banking investment.
• ICICI Bank: Top-three Indian private bank with a similar universal banking model covering retail, MSME, corporate and digital channels, and a comparable personal loan and credit card book.
• Yes Bank: Indian private-sector universal bank with a retail and corporate banking mix and digital focus that overlaps materially with IDFC FIRST Bank's target segments.
• Bandhan Bank: Private-sector bank with a strong microfinance-to-MSE lending heritage and growing retail deposit franchise — comparable on retail deposit gathering and digital banking rollout.
• IndusInd Bank: Mid-sized Indian private bank with a strong retail and credit card franchise and growing digital banking platform — a direct comparable on retail-deposit growth and unsecured lending.
• AU Small Finance Bank: Small finance-turned-universal bank competing for retail deposits, MSME and vehicle finance customers — co-mentioned with IDFC FIRST Bank in the Haryana fraud case, indicating similar client overlap.
• HDFC Bank: India's largest private-sector bank offering savings, deposits, retail loans, credit cards, NRI and digital banking — directly comparable to IDFC FIRST Bank across the full retail and corporate franchise.
• DCB Bank: Mid-sized Indian private bank with focus on retail, MSME and SME segments, offering a similar mix of savings, loans and digital services for comparison.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/idfcfirstbank
• Xx.com/IDFCFIRSTBank

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds7 records

Investors9 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments5 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about IDFC FIRST Bank