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DBS digibank and IDFC account

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Missing Deal Cadet
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Having DBS digibank SB account,
which initially gave 7% rate, debit card without yearly fee, other benefits.
Is it still worth holding this account now or the account can be closed ?
as there are no benefits at all now, interest reduced like other Pvt banks to 3.5% range,
5000 min balance, debit card fee.
Are there any charges for account closure.
https://www.dbs.com/digibank/in/rates-and-fee...ge

Currently IDFC seems to be really good with their interest and other features,
will they also reduce their interest rate, features in the future.
Is it safe to hold amount more than 5 lakh limits and higher limits.

https://www.idfcfirstbank.com/banking-products/...

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Missing Deal Lieutenant
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R0417

1. I closed my account in Dec 2020 because of the same reasons
2. There will be no charges for Closure
3. IDFC did the same thing as DBS to attract more customers, So its likely they’ll reduce the rates too sometime in Q4 2021 or Q1 2022
4. Account balances up to ₹5 lakh are protected under the government’s deposit insurance guarantee scheme so its adviced to keep below that only (We know what happened with YES bank)

Missing Deal Cadet
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R0417 wrote:

1. I closed my account in Dec 2020 because of the same reasons
2. There will be no charges for Closure
3. IDFC did the same thing as DBS to attract more customers, So its likely they’ll reduce the rates too sometime in Q4 2021 or Q1 2022
4. Account balances up to ₹5 lakh are protected under the government’s deposit insurance guarantee scheme so its adviced to keep below that only (We know what happened with YES bank)

Yes, atleast Yes Bank back to normal after a brief moratorium.

Though 5 lakh is the limit, hope we can be optimistic and can maintain higher balances in IDFC.

Incase something is going wrong, how to know in advance ?, so that the hard earned money can be transferred to psb banks.

Missing