saving account highest return

130°
Deal Subedar
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which bank gives highest return on saving account for deposit of 20 lakh,RBL gives 6.5%,how safe is this bank,any other bank which give high return on saving account

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sukant1989 wrote:

they gives 4% only

Also they are usually out of money when you really need it back. Specially for large sum.

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RBL is pretty trustworthy but it’s a new bank compared to others. If that’s a concern then why don’t you opt for flexible FD.

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Roushh wrote:

Also they are usually out of money when you really need it back. Specially for large sum.

i mostly need via rts/cheque

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Roushh wrote:

RBL is pretty trustworthy but it’s a new bank compared to others. If that’s a concern then why don’t you opt for flexible FD.

i may need money anytime so fd is not option

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Batter to put money in 2-3 different banks for safety, this banks giving 5%+, Kotak, DBS, yes bank

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sukant1989 wrote:

i may need money anytime so fd is not option

FD is different. It’s Flexible FD.

I don’t know much about it but my father does that all the time. I believe I remember him mentioning it to me that whenever we take the money out of the account, the flexible FD dissolves itself but will give higher interest for engaging period. He also mentioned to create many smaller flexible FDs than a big one. Read more about it on Internet or talk to someone from a reputable bank.

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Roushh wrote:

FD is different. It’s Flexible FD.

I don’t know much about it but my father does that all the time. I believe I remember him mentioning it to me that whenever we take the money out of the account, the flexible FD dissolves itself but will give higher interest for engaging period. He also mentioned to create many smaller flexible FDs than a big one. Read more about it on Internet or talk to someone from a reputable bank.

bank charge penalty on premature fd

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go for kotak or yesbank.. I am keeping my savings in both banks which gives 6% int for abv 1lakh

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You can opt swipe in – swipe out service. In this youbhave to set account limit whennur account balance is more than limit it will auto convert to fd. In this you can withdraw money anytime without panlenty. Intt calculated on daily basis. Check with bank before opening account.

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TEMPER wrote:

go for kotak or yesbank.. I am keeping my savings in both banks which gives 6% int for abv 1lakh

rbl bank gives 6.5%

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On 20 lakh you can get 7% savings interest rate on :-

Suryoday Small Finance Bank
Fincare Small Finance Bank
ESAF Small Finance Bank

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Krypto wrote:

On 20 lakh you can get 7% savings interest rate on :-

Suryoday Small Finance Bank
Fincare Small Finance Bank
ESAF Small Finance Bank

i saw these banks are new and rbl bank is from 1943

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DBS Digibank : 6% on first 1 lakh, 7% on all additional amount

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panchabhut wrote:

DBS Digibank : 6% on first 1 lakh, 7% on all additional amount

currently best rate for saving account holders having balance below 1Lakh

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+1 for DBS.amazing service.
Or take the flexi fixed deposit route as suggested by another dimer. Almost all the nationalised banks have this product.

For the benefit of the community this is how it works -
You open a flexi fixed deposit account barring a minimum balance let’s say 10000 or 25000,everything else is automatically invested in certain dominations. Say you deposited 1 lakh rupees, so after the end of that particular business day your savings account will have 10000 rupees balance and 90000 will be invested AS 9 fixed deposits having one year term. Say 6 months later you need 50000 cash, so now the system will debit 10,000 from your savings balance and also 4 other term deposits out of 9. The system is seamless and no other documentation or paperwork is necessary.after the end of one year those 9 term deposits will again be invested for 1 year automatically. You will earn the savings interest of rupees 10000 and the term deposit interest of those 9 fixed deposits.

Source – 7 year experience in working in a nationalised bank

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kipte.khoka wrote:

+1 for DBS.amazing service.
Or take the flexi fixed deposit route as suggested by another dimer. Almost all the nationalised banks have this product.

For the benefit of the community this is how it works -
You open a flexi fixed deposit account barring a minimum balance let’s say 10000 or 25000,everything else is automatically invested in certain dominations. Say you deposited 1 lakh rupees, so after the end of that particular business day your savings account will have 10000 rupees balance and 90000 will be invested AS 9 fixed deposits having one year term. Say 6 months later you need 50000 cash, so now the system will debit 10,000 from your savings balance and also 4 other term deposits out of 9. The system is seamless and no other documentation or paperwork is necessary.after the end of one year those 9 term deposits will again be invested for 1 year automatically. You will earn the savings interest of rupees 10000 and the term deposit interest of those 9 fixed deposits.

Source – 7 year experience in working in a nationalised bank

how is rbl bank,they are gives 6.5% on saing ac and bank is very old

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sukant1989 wrote:

how is rbl bank,they are gives 6.5% on saing ac and bank is very old

Don’t know about RBL never actually transacted with them

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dbs gives 7% only on balances till 2 l after thats its 5% till 5 l and 4% on any increment amount .

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Roushh wrote:

RBL is pretty trustworthy but it’s a new bank compared to others. If that’s a concern then why don’t you opt for flexible FD.

How is it a new bank? They are in biz since 1943

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Go with RBL, they are trustworthy. I’ve an account with them. Their service at branch is good too.

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Dyndeep credit society ltd .. this society was started in 1979 and it is oldest credit society in maharshtra and it lend money to like Abhudaya cooperative bank and other banks offers around 8.50 to 9.30 % interest rate on 300 or 365 daya

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