6% or more interest in saving account for bala...

6% or more interest in saving account for balance less than 1 Lac?

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Deal Subedar
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More than 6% interest in saving account for balance less than 1 Lac? Want to know which all banks give more than or equal to 6% interest in saving account.
I am not asking for FD, so don’t get confuse.
Only interested in saving account with minimum 6% interest rate.

61 Comments  |  
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Deal Cadet
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IDFC First bank 6%
Few banks have auto sweep option once the threshold is breached.

Roger federer photos 9 150x150
Deal Subedar
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So ja bhai.

TDS cut jaayga nhi to.

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Deal Subedar
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rogerthat wrote:

So ja bhai.

TDS cut jaayga nhi to.

You are TDS.

In haryanvi-
T – Tu
D – Duplicate
S – Se

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Deal Subedar
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makeourdeal wrote:

IDFC First bank 6%
Few banks have auto sweep option once the threshold is breached.

Thanks for suggesting IDFC Bank.
By Auto Sweep you mean related to FD?

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Deal Subedar
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PMC Bank

Bal ganesh
Deal Lieutenant
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_One_Miller_ wrote:

Thanks for suggesting IDFC Bank.
By Auto Sweep you mean related to FD?

Yes, some minimum amout like 10K is left in savings and rest is moved to FD which is done without your intervention.
Same way if you withdraw some amount, earlier FD is broken and rest above 10K is moved to FD again automatic..
For u its simple savings a/c but actually its savings+FD(automatic).
For savings interest NO TDS, but for FD part TDS will be deducted if interest total exceeds 40K/per year

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Deal Subedar
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micke wrote:

PMC Bank

PMC is already under scrutiny and restriction by RBI.

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Deal Subedar
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_One_Miller_ wrote:

PMC is already under scrutiny and restriction by RBI.

I was joking stuck_out_tongue

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Deal Cadet
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Use a liquid fund, some of them you cn withdraw money like a savings account

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Deal Cadet
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Idfc & Fincare

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Deal Subedar
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micke wrote:

I was joking stuck_out_tongue

Joka-joki bandh karo .
Joka joki bandh karo .

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Deal Subedar
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karanoshan wrote:

Use a liquid fund, some of them you cn withdraw money like a savings account

Market risk involved?

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Deal Subedar
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caks2006407 wrote:

Yes, some minimum amout like 10K is left in savings and rest is moved to FD which is done without your intervention.
Same way if you withdraw some amount, earlier FD is broken and rest above 10K is moved to FD again automatic..
For u its simple savings a/c but actually its savings+FD(automatic).
For savings interest NO TDS, but for FD part TDS will be deducted if interest total exceeds 10K/per year

What is ROI of FD ?

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Deal Subedar
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caks2006407 wrote:

Yes, some minimum amout like 10K is left in savings and rest is moved to FD which is done without your intervention.
Same way if you withdraw some amount, earlier FD is broken and rest above 10K is moved to FD again automatic..
For u its simple savings a/c but actually its savings+FD(automatic).
For savings interest NO TDS, but for FD part TDS will be deducted if interest total exceeds 10K/per year

What is ROI of FD ?

Bal ganesh
Deal Lieutenant
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_One_Miller_ wrote:

What is ROI of FD ?

Usual Bank FD interest rates apply

Pankaj
Budding Star
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caks2006407 wrote:

Yes, some minimum amout like 10K is left in savings and rest is moved to FD which is done without your intervention.
Same way if you withdraw some amount, earlier FD is broken and rest above 10K is moved to FD again automatic..
For u its simple savings a/c but actually its savings+FD(automatic).
For savings interest NO TDS, but for FD part TDS will be deducted if interest total exceeds 10K/per year

TDS limit is increse now.. 40000 for below 60 and 50000 for above 60

75pe
Deal Subedar
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caks2006407 wrote:

Yes, some minimum amout like 10K is left in savings and rest is moved to FD which is done without your intervention.
Same way if you withdraw some amount, earlier FD is broken and rest above 10K is moved to FD again automatic..
For u its simple savings a/c but actually its savings+FD(automatic).
For savings interest NO TDS, but for FD part TDS will be deducted if interest total exceeds 10K/per year

Suppose If I do a transaction of 25k…what ll happen in this case?

75pe
Deal Subedar
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Kotak guys don’t message you every morning ?

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Deal Subedar
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Simbha3 wrote:

Suppose If I do a transaction of 25k…what ll happen in this case?

Transaction will fail because you should have 25000 in account lol

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Simbha3 wrote:

Kotak guys don’t message you every morning ?

https://www.kotak.com/811-savingsaccount-ZeroBa...

Earn 6% p.a. interest on savings account balance over Rs. 1 lakh and up to Rs 50 lakhs. Earn 4% p.a. interest on savings account balance up to Rs. 1 lakh and 5.5% p.a. interest on savings account balance above Rs. 50 lakhs. Applicable for Resident Accounts only. Visit www.kot...om for latest information on interest rates.

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Deal Subedar
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_One_Miller_ wrote:

Transaction will fail because you should have 25000 in account lol

Not always.
I have ICICI autosweep, with dual flow. They used to offer till 2004, now not available for new accounts. When a high value transaction is made, the newest FDs get auto encashed and credited to savings to process that transaction.
But I heard that in case of SBI its oneway flow and the FDs have to be manually broken.

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Deal Cadet
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_One_Miller_ wrote:

Transaction will fail because you should have 25000 in account lol

Not the case with axis asap account, they break the fd automatically

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Deal Cadet
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idfc is better
6% int. below 1 lakh
+ 250 on account opening online through referral
+ 250 on first transaction of 2500
+ 250 bms cashback every month

+ October special offer of 250 on bill payment above 1000(may be account specific)

Saikcw
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micke wrote:

PMC Bank

PMC has become a new abuse word /gaali wink

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Saikcw wrote:

PMC has become a new abuse word /gaali wink

Tushy great ho .. joy

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Deal Subedar
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_One_Miller_ wrote:

Tushy great ho .. joy

Everyone knows

Tussy is great 🤣🤣

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i also have to invest 1800 let me knw

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