IDFC FIRST Bank

IDFC FIRST Bank is a new age Universal Bank in India built on the foundations of Ethical Banking, Digital Banking, and Social Good Banking. We are building a world class bank in India.

The 7 Core Principles of IDFC FIRST Bank

IDFC FIRST Bank was created in December 2018 through the merger of infrastructure finance giant IDFC Bank and retail finance specialist Capital First. Earlier, IDFC Bank had commenced commercial Banking operations in 2016. The following are the 7 core Principles of the Bank:

1. Vision: IDFC FIRST Bank is building a world-class Bank in India, driven by Ethical, Customer-Friendly, Digital, and Socially Responsible Banking principles.
2. Universal Bank: IDFC FIRST Bank is a Universal Bank, offering a comprehensive range of services, including Retail, MSME, Rural, Startups, Corporate Banking, Cash Management, Wealth Management, Deposits, Government Banking, Working Capital, Trade Finance, and Treasury solutions.
3. Ethical Banking: The Bank adheres to a "Near and Dear" test, ensuring its products are so customer-friendly that employees can confidently recommend them to loved ones. The Bank is committed to doing right by customers even when no one is watching and believes that income earned unethically is not worth earning. So, the Bank has simplified descriptions, calculations, and legal jargon to avoid confusing customers. It offers “ZERO FEE Banking” on all savings account services, including SMS alerts, IMPS, RTGS, NEFT, cash deposits, non-home branch access, ATM withdrawals, cheque books, Demand Drafts, Pay Orders, duplicate statements, and other commonly charged services. It is the first and only bank in India to do so.
4. Customer Friendly Banking: IDFC FIRST Bank credits interest monthly on savings accounts. For credit cards, it offers lifetime-free cards with no minimum spend conditions, non-expiring reward points, zero interest on ATM cash withdrawals, and dynamic low APR. Any applicable fees are transparent and clearly explained.
5. Technology-led Banking: The Bank's modern technology stack delivers high-quality services across mobile, branch, internet banking, call centers, and relationship managers. Its advanced mobile banking app, featuring 250 functionalities, is rated 4.8 on Google Playstore and App Store. Renowned global rating agency Forrester has ranked it the best in India and among the top 20 worldwide for two consecutive years.
6. Social Good Banking: The Bank focuses on financial inclusion while ensuring high asset quality. It has financed over 40 million customers, including 16 million lifestyle improvement loans, 15 million loans to 4.3 million women entrepreneurs, 6.5 million vehicle loans, 1 million sanitation loans, 1 million livelihood loans, 300,000 SME loans, and 100,000 home loans.
7. ESG Goals: The Bank holds high ESG scores, reflecting its commitment to financial inclusion and social responsibility.

Creating a new-age, ethical, customer-friendly, and world-class Bank for India is a privilege for its employees.