Updated September 28, 2026 · VaultCue Editorial Team
IDFC FIRST Bank vs Mercado Pago
IDFC FIRST Bank
Mercado Pago
Higher score in this comparison
Where IDFC FIRST Bank and Mercado Pago differ
| Compare | IDFC FIRST BankReviewSee alternativesSee alternatives | Mercado PagoReviewSee alternativesSee alternatives |
|---|---|---|
| Headline rate | 7% | 105%Higher |
| Minimum deposit | Not confirmed | R$0 |
| Access terms | Not confirmed | Money usable at any time, no IOF, accrues daily on business days, no minimum balance |
| Monthly fee | Not confirmed | R$0 |
Same on both: Rate type (Variable), Account kind (Easy access).
We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings. Partners with a live offer in your country come first, then every other brand by score.
Key differences
- Mercado Pago is available in 2 more countries.
- Headline rate is higher at Mercado Pago: 105% vs 7%.
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.
Mercado Pago
Mercado Pago pays a headline rate of 105% on money that stays usable at any time, with a monthly fee of BRL 0 and a minimum deposit of BRL 0, which suits businesses and teens who want a balance that earns while it sits. The rate is variable, so the return can move.
Score breakdown
| Area | IDFC FIRST Bank | Mercado Pago |
|---|---|---|
| Cost | Not confirmed | 9.3A monthly fee of BRL 0 and a minimum deposit of BRL 0 on an easy access account. |
| Offer | Not confirmed | 9.2A headline rate of 105% on money that stays available, credited on business days with no minimum balance. |
How they place
| Ranking | IDFC FIRST Bank | Mercado Pago |
|---|---|---|
| Savings accounts | 1118 of 1420 | 150 of 1420 |
Every fact side by side
| Fact | IDFC FIRST Bank | Mercado Pago |
|---|---|---|
| Pricing model | Not confirmed | No monthly fee |
| Legal entity | Not confirmed | Mercado Pago Instituicao de Pagamento Ltda. |
| Headquarters | Not confirmed | Brazil |
| Support channels | Not confirmed | Help centre, Phone |
Everyday accounts
| Fact | IDFC FIRST Bank | Mercado Pago |
|---|---|---|
| Currencies | Not confirmed | 2 |
| Audience | Not confirmed | Business, Teen |
| Features | Not confirmed | Digital only |
| Transfer fee | Not confirmed | Free |
Money transfer
| Fact | IDFC FIRST Bank | Mercado Pago |
|---|---|---|
| Delivery time | Not confirmed | Instant |
| Fee to send 1,000 | Not confirmed | ARS 0 |
Where each stands against the rest
| Fact | IDFC FIRST Bank | Mercado Pago | Median |
|---|---|---|---|
| Headline rate | 7%highest quarter | 105%highest quarter | 3.25% |
| Minimum deposit | Not confirmed | R$0lowest quarter | R$1 |
| Monthly fee | Not confirmed | R$0at the median | R$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.
Mercado Pago
Pros
- A headline rate of 105%, placed 1 of 473 on headline rate here.
- A monthly fee of BRL 0 and a minimum deposit of BRL 0, so nothing is listed to pay for holding the balance.
- Money stays usable at any time, accrues daily on business days, with no IOF charged on the balance.
Cons
- The rate is variable, so the return can move rather than being set in advance.
- Support runs on help centre and phone only, a narrower set of routes than a branch counter.
- The account is digital only, so there is nothing to visit in person.
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.
Mercado Pago
Who it suits
- Businesses that park sales money in the account and want it to earn between payments.
- Teen users opening a first account: the audience is listed as business and teen and the minimum deposit is BRL 0.
- Anyone who needs a balance that can be spent on the same day it accrues interest.
Who should look elsewhere
- PayPal Colombia, listed at 3.3% on headline rate, for anyone who wants a far lower advertised figure.
- Readers who want a rate fixed in advance, since the rate here is variable. Plazo ES lists 24.19% and AXI Card Tarjeta y Credito 21.59% for a side-by-side check.
Current offers
Mercado Pago
Current offer
Bonus
Cofrinhos yield 120% of CDI with Meli+: 120% of CDI on Cofrinhos
Active Meli+ subscription; Cofrinhos are part of the Mercado Pago account
Source, checked September 26, 2026
Country by country
| Country | IDFC FIRST Bank | Mercado Pago |
|---|---|---|
| Argentina | No | Yes |
| Brazil | No | Yes |
| India | Yes | No |
| Mexico | 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.
Mercado Pago
What rate does Mercado Pago pay on the balance?+
The account pays a headline rate of 105%. The rate type is variable, so the figure can move rather than staying set for a term. Interest accrues daily on business days and the money remains usable at any time.
Is there a monthly fee to pay?+
The monthly fee is BRL 0 and the pricing model is no monthly fee, so there is no recurring charge to keep an eye on. Money also leaves without a listed charge, at ARS 0 per transfer.
Other options to compare
Other matchups
Related by the facts
IDFC FIRST Bank
Mercado Pago