Is IDFC Bank safe for FD ?
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Planning to put 3L in FD in IDFC Bank. I do not have account with them at all. I saw their interest rates and for 500 Days, it is 6%. In case the bank tanks, is my 3L insured by Government?
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Yes I did see that. So you saying it is better to get normal saving account. Also how much money is insured in worst case scenario?
@rak007 ping me for referral, we can share the referral benefits. Only the referrer gets a GV and not the referee
ping me for referral, we can share the referral benefits.
What are the benifit of referral?
Pm for quick referral
every bank is safe for us provided you understand the banking system
you can secure 20lakhs in the single bank how for this you need 2 persons in Indian condition husband-wife duo is best suited for this
you will open 4 different fd account in name of 2 persons so that 20lakh is secured under depositors insurance scheme ( banks pay a premium for it ) you do not pay for insurance
4 account for fd 5lakh each ( interest payout monthly)
1 Husanband individual
2. wife individual
3 Husand-wife joint ( operated by a husband or survivor )
4 Wife husband joint ( operated by a wife or survivor )
so all four accounts will be under different customer ID
7% interest is if you keep more than 1 lakh Rs in Savings Account. Less than 1 lakh gives 6% interest. Minimum quarterly 25000 has to be maintained in the Account if it is not a Salary Account.
For referral and any other questions Ping me. I am using IDFC Account for more than 1.5 years. I will also tell you a trick to earn some vouchers each month.
bro put it into Bajaj finance fd. It gives best interest rate.
What is their Interest Rate?
Bro fd gives 6% but savings gives 7% i recently open account with 5 lakhs