IDFC Indusind

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Is IDFC safe for putting larger sum. I know up to 5 lakh is insured but once it happens it takes time and efforts to get your money back.
Also why Indusind giving highest interest rate on FD.
Any idea why they are giving highest interest in industry.
Where should i put my money around 1.5 L for 2 years.

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IDFC regular savings account will give you same rate of interest as indus FD.
Better to avoid fd restrictions for quick liquidity.

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nimod wrote:

IDFC regular savings account will give you same rate of interest as indus FD.
Better to avoid fd restrictions for quick liquidity.

From 30-Dec-2020, IndusInd’s deposit rate for 1Yr+ deposits have been reduced from 7.0% to 6.5%.
So, IDFC Savings Account Rate is better than IndusInd’s deposit rate.

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DimeDime wrote:

From 30-Dec-2020, IndusInd’s deposit rate for 1Yr+ deposits have been reduced from 7.0% to 6.5%.
So, IDFC Savings Account Rate is better than IndusInd’s deposit rate.

This also happened
I was still thinking they are giving 7%

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Invest in crypto or simply invest in stable coins like usdollar and you will earn simple 10% interest

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DimeDime wrote:

From 30-Dec-2020, IndusInd’s deposit rate for 1Yr+ deposits have been reduced from 7.0% to 6.5%.
So, IDFC Savings Account Rate is better than IndusInd’s deposit rate.

Laxmi vilas bank was giving high interest rates. Also yes bank. All were forced to close.

after laxmi vilas bank merged with dbs, they reduced the interest rates.
IDFC can be in the similar state in few years from now.

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shaktimon wrote:

Laxmi vilas bank was giving high interest rates. Also yes bank. All were forced to close.

after laxmi vilas bank merged with dbs, they reduced the interest rates.
IDFC can be in the similar state in few years from now.

Laxmi Vilas bank took almost a year to finally sink & Yes Bank took even longer than that & in both cases no depositor lost any of their money because 5 lakh insurance limit only comes into effect when bank is officially declared bankrupt by rbi which RBI hasn’t done for any scheduled commercial failed bank in India till now(3 in total, global trust bank in 2003, yes bank & laxmi vilas bank in 2020). In all such cases the worst that happened was money getting stuck for few weeks & in case of Yes Bank it took around 3 weeks which was once the 4th largest pvt sector bank in India so you can imagine if such a big bank failure only resulted in 3 weeks of money getting stuck then how many days idfc will take in similar situation when it is many times smaller than Yes bank was.

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