FD return rate reduced ?
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just checking my HDFC Bank internet A/C , wanted to create a FD . but seems like they have reduced the rate from 7 % to 6.30 % . may be interest rate reduced for all banks now . any better option to create a short term goal fund with better interest rate ? Liquid Fund ?
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Subhlabh account of DCB yes , their agent was suggesting me Subhlabh account over elite account . But I choose Elite because of 1.6% and use in CRED and in case of subhlabh ACCount it’s 400 rupees only max per month as CB.
small finance banks still provide 8.5% to 9%. utkarsh, suryoday, jana all 8.5 to 8.75, fincare 9%. also keep money upto 1 lac in 1 individual a/c. for more deposits, open multiple a/c in family name and also make all permutation combination to get a/cs as joint holders. last is not to put all money in only one sbf but divide among these 4-5 good interest paying banks.
all those banks are very risky, they can run away with all deposit
economy is going through deflation. loans becoming NPAs. bankers shaky of giving new loans. naturally interest on deposits are bound to come down.
It’s a good thing. People can take loan at a lower interest rate to do business. 🙂
how is the condition of IDBI Bank after LIC being part of it 
It is not LIC being part of it,it is more like LIC being controller of it.Obviously it will take time for its situation to improve but for now it won’t become worse because now any big loan approval needed to be approved by LIC board members first & they will obviously be not as negligent/influenced as earlier management.
Keep 1 Lakh+1 rupees in IDFC bank savings acc & get 7% interest.
Keep 1 Lakh in DCB bank shubhlabh savings acc & get 3.5% interest(3500)+4800 cashback(400/month on doing 4 debit card transactions with no min value so even a rs.20 debit card swipe at nearby store will do) so total ~8.3% interest rate.