IDFC FIRST BANK FUNDING QUERY
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I have an account with IDFC First bank, The main reason why i chose this bank is Its attractive ROI, I have approx 4 Lakhs Savings in HDFC , Can i transfer it to IDFC for better ROI, HDFC is givng approx 3.50 , whereas IDFC is giving 7 over 1 lakh, I am so much confused to take decision ..
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Already there are many posts regarding IDFC bank recent days in DD, and their app didn’t work from April 1, and just before 1hr they resolved the issue. Kindly go through all posts and decide on own. I’m also IDFC account holder.
Do u also having high amount in that bank?
Don’t transfer all your savings into single account/bank. Split it in half, so that in worst case scenarios, you will have access to some money for emergencies.
+1
Always split amounts… safe during any serious problems.. best way is fixed deposits 5-6 lakhs in 9-10 banks..
Yes you should transfer from hdfc to idfc.
the interest rate is 2 times that of hdfc
As it is upto 5 lakhs is insured.
If you have all your money in IDFC then that’s not a good sign. Put your money in FD in case you don’t foresee any nearing transactions. ICICI is giving 6.4% on 2 years and 6.3% on 290 days. Axis is giving 6.5% on FD.
Again I am IDFC holder and have not put more than 2 lakhs in bank, but I hold major money in HDFC bank which is topping the list from many years but still have more funds in SBI, ICICI and Yes Bank. So divide that 4 lakhs in 5 banks, if you are already doing that, then no need to worry (upto 5 lakhs).
Ratings of all Indian Banks will degrade. It is just an effect of Idea-Airtel, Yes Bank and mainly because of Coronavirus.
I have taken out all my money from IDFC..
Most of the variables are against this bank and recent share dip is also a lead indicator.
If u logically think, its not worth the risk for gaining 3.5k additional of an amount of 1L rupees.
Ive transferred back my funds to HDFC
Check this thread before deciding anything:
https://www.desidime.com/forums/dost-and-dimes/...
There is one more platform which is giving 12% ROI, BHARATPE, But i never trusted them cause they don’t have any physical branch in any city, Best thing is this they are giving interest on daily basis.
Based on my local superstore shopkeeper’s experience I would advice to stay away from bharatpe at least as a small/typical client(maybe situation is different for big corporate clients).
Doubt: Can i open idfc a/c online? and is it is a wise idea to keep half of savings in idfc since it gives good interest rate?
yes
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