Did IDFC silently increased FD rates upto 6.25% for 3-5 years?
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6 months back when I booked FD in IDFC the interest rate was 5.5% max but today saw it as 6.25% for 3- 5 year duration did they changed it recently or was like that even before?
Planning to close my existing FD and open a new one, premature closure penalty show as 0% however.
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Rate of Interest (%p.a.) w.e.f. January 21, 2022
Any premature withdrawal penalty for IDFC??
showing as zero during premature closure
update – I closed my old FD yesterday no penalty was levied, amount got credited instantly along with the interest for the days kept
axis rate is just 5.4% for 2year fd😜
@IamRage Did you confirm the interest received was as per the days kept?
If I click on close FD, it shows 0 penalty, but the interest accrued seems to be lower than what it should be.
yes it was based on the days kept and you have take into consideration of the FD rate which was there when you had opened the FD not as per the updated one.
for 181 days to 1 year it was 4.25% earlier
Edit – the final exact amount would get calculated only after the closure if I remember correctly
yes, most of the banks have increased fd rates.