Updated October 21, 2026 · VaultCue Editorial Team
IDFC FIRST Bank vs Illimity
IDFC FIRST Bank
Illimity
Higher score in this comparison
IDFC FIRST Bank vs Illimity: the differences
| Compare | IDFC FIRST BankReviewSee alternativesSee alternatives | IllimityReviewSee alternativesSee alternatives |
|---|---|---|
| Headline rate | 7%Higher | 2% to 3.9% |
| Rate type | Variable | Fixed |
| Account kind | Easy access | Fixed |
| Term | Not confirmed | 6 to 60 months |
| Minimum deposit | Not confirmed | €1,000 |
| Deposit protection | Not confirmed | EU DGS up to EUR 100,000 |
| Access terms | Not confirmed | 100% digital, opened and managed from home banking on PC or smartphone; non-releasable (locked) or releasable lines with free early redemption on releasable lines only |
| Monthly fee | Not confirmed | €0 |
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Our verdict on each
IDFC FIRST Bank
IDFC FIRST Bank pays 7% on an easy access savings account, so it suits people who want reserve money to earn a competitive return while staying reachable. The rate is variable, which means the bank sets it, and that trade-off is the one to weigh.
Illimity
Illimity is an Italian digital bank whose fixed deposit account pays 2% to 3.9% on terms of 6 to 60 and charges a monthly fee of €0. It suits savers happy to lock money away and business customers, and it is a poor fit for anyone who wants branch cash or instant access.
Score breakdown
| Area | IDFC FIRST Bank | Illimity |
|---|---|---|
| Cost | Not confirmed | 9.3 |
| Offer | Not confirmed | 9.8 |
| Trust | Not confirmed | 8.2 |
How they place
| Ranking | IDFC FIRST Bank | Illimity |
|---|---|---|
| Savings accounts | 1118 of 1420 | 354 of 1420 |
Every fact side by side
| Fact | IDFC FIRST Bank | Illimity |
|---|---|---|
| Pricing model | Not confirmed | No monthly fee, Fixed rate |
| Legal entity | Not confirmed | Illimity Bank S.p.A. |
| Headquarters | Not confirmed | Italy |
| Founded | Not confirmed | 2018 |
| Support channels | Not confirmed | Help centre, Phone, Chat, Email |
Everyday accounts
| Fact | IDFC FIRST Bank | Illimity |
|---|---|---|
| Audience | Not confirmed | Business |
| Features | Not confirmed | Digital only |
Where each stands against the rest
| Fact | IDFC FIRST Bank | Illimity | Median |
|---|---|---|---|
| Headline rate | 7%highest quarter | 2% to 3.9%above the median | 3.25% |
| Term | Not confirmed | 6 to 60 monthshighest quarter | 24 |
| Minimum deposit | Not confirmed | €1,000highest quarter | €1 |
| Monthly fee | Not confirmed | €0at the median | €0 |
Median across 658 listed accounts.
Pros and cons
IDFC FIRST Bank
Pros
- Interest of 7%, against a site median of 3% and an upper quartile of 4.15%.
- Easy access, easy access, which keeps savings reachable at short notice.
- It out-earns PayPal Colombia, 3.3%, for anyone weighing a savings balance against a wallet.
Cons
- The rate is variable, so the bank can revise the advertised 7% during the life of the balance.
- On headline rate the account ranks 56 of 473 brands tracked, while Plazo ES quotes 24.19% on its own offer.
- Credit products in the set quote higher headline figures, with Plazo ES at 24.19% and AXI Card Tarjeta y Credito at 21.59%, so those numbers describe card offers.
Illimity
Pros
- A monthly fee of €0, and no monthly fee and fixed rate lists Illimity as a no monthly fee provider
- A fixed rate of 2% to 3.9% on terms of 6 to 60
- Deposits sit under the EU guarantee scheme: EU DGS up to EUR 100,000
Cons
- Digital only, per digital only, so there is no branch counter for cash or paperwork
- A minimum deposit of €1,000 rules out small balances
- Locked lines tie the money for the full 6 to 60, and free early redemption applies only to releasable lines
Who each suits
IDFC FIRST Bank
Who it suits
- People keeping an emergency or short notice reserve who still want a competitive return.
- Savers comfortable with a rate the bank sets, since the rate is variable.
- Readers checking what a plain savings account pays, at 7% against a site median of 3%.
Who should look elsewhere
- Anyone chasing the highest headline figure in the set: Plazo ES shows 24.19% and AXI Card Tarjeta y Credito 21.59%, both credit products.
- Savers who want a return fixed for a term, since the rate is variable and the account is easy access.
- People whose main comparison is a wallet balance: PayPal Colombia quotes 3.3%, so the gap to 7% is worth weighing first.
Illimity
Who it suits
- Savers who want a fixed rate and can leave the money locked for the term
- Business customers, the audience listed as business
- People already comfortable running a bank from a phone or PC
Who should look elsewhere
- Anyone who needs easy access to the money, since fixed is fixed and locked lines run to the end of the term
- Customers who want to handle cash in person, given the digital only setup listed under digital only
- Balances that sit below the €1,000 minimum
Country by country
| Country | IDFC FIRST Bank | Illimity |
|---|---|---|
| India | Yes | No |
| Italy | No | Yes |
Questions about each
IDFC FIRST Bank
What rate does IDFC FIRST Bank pay on its savings account?+
The advertised rate is 7%. The median across the site is 3%, so this rate sits above the middle of the market, and above the upper quartile too, at 4.15%. The bank sets the figure, and it applies while the account is open.
Is the interest rate fixed or variable?+
It is variable. The bank can revise the advertised 7% as conditions change, so savers who want a return fixed today should weigh a term product instead. Easy access, easy access, adds flexibility on access rather than on price.
Illimity
Is there a monthly fee?+
The account carries a monthly fee of €0, and no monthly fee and fixed rate lists Illimity as a no monthly fee provider. That puts it among the cheaper places to park savings, which means the rate and the term are the things worth weighing rather than the cost of keeping the account open.
What rate do I get on the money?+
The headline rate runs 2% to 3.9% and the rate type is fixed, so the return is set for the whole term instead of moving with the market. Where you land inside that range depends on the line you open and how much you keep in it.
Other options to compare
Related by the facts
IDFC FIRST Bank
Illimity