Wanted to do a Fixed Deposit of around 1 Lakh, Is IDFC bank safe for FD?

arjungoyal12

KF Mentor
I wanted to save some money for my future. Looking for some banks where I can do FD, and someone suggested IDFC bank which is offering good interest rates as compared to other banks. Is it safe to do FD in IDFC Bank?
 

ankurzinn

KF Rookie
As on date, IDFC Bank is a safe option. The MD of IDFC First Bank (Mr. V. Vaidyanathan) is ex-employee of ICICI Bank and is a very diligent, focused and sound person. He will never let anything adverse happen to IDFC First Bank during his tenure. Go ahead.
 
As on date, IDFC Bank is a safe option. The MD of IDFC First Bank (Mr. V. Vaidyanathan) is ex-employee of ICICI Bank and is a very diligent, focused and sound person. He will never let anything adverse happen to IDFC First Bank during his tenure. Go ahead.
I have done research on IDFC credit cards, and they are some of the best I have seen. Their customer feedback is also positive, and I believe they will soon be one of the major players in the banking sector.
 

Sagar Bomble

KF Rookie
Also consider investing in small finance Bank as these banks also have Deposit Insurance and Credit Guarantee Corporation (DICGC) upto 5 lakhs.
Small finance Bank offers higher interest rate as compared to normal banks.
 

Sagar Bomble

KF Rookie
You can make a FD in the name of senior citizens which will give you additional 0.5 to 1% extra returns as compared to normal FD rather then making FD in your name
 

arjungoyal12

KF Mentor
As on date, IDFC Bank is a safe option. The MD of IDFC First Bank (Mr. V. Vaidyanathan) is ex-employee of ICICI Bank and is a very diligent, focused and sound person. He will never let anything adverse happen to IDFC First Bank during his tenure. Go ahead.
Thank you for this!
 
I would suggest if the amount is less than 5 lakhs, go with scheduled banks or small finance banks like Utkarsh small finance, unity small finance banks as they are offering a very good interest rate currently. Unity is giving 8.75% p.a. even on a 6 month tenure and upto 5 lakhs in such banks is completely safe so go ahead with that
 

ranareddy

KF Rookie
I wanted to save some money for my future. Looking for some banks where I can do FD, and someone suggested IDFC bank which is offering good interest rates as compared to other banks. Is it safe to do FD in IDFC Bank?
A fixed deposit upto Rs. 5 lacs is safe to invest in any bank guaranteed by RBI. The only thing to compare is interest rates. If you want to deposit only one lac rupees, then go for AU or other small finance banks. They offer higher interest rates than traditional banks.
 
I wanted to save some money for my future. Looking for some banks where I can do FD, and someone suggested IDFC bank which is offering good interest rates as compared to other banks. Is it safe to do FD in IDFC Bank?
Yes, IDFC bank is very good bank and you can open a fixed deposit without any doubt . and Interest rate also very attractive. so go and open your fixed deposit with IDFC.
you should also know that every rbi licensed bank provide insurance upto 5 lakh , so your money is safe with any bank if bank default then government have full responsibility to give public money upto to rs 5 lakh rupees.
 

harsh1802

KF Rookie
I had conversation with wint wealth co-founder Ajikya. Wint wealth is coming up with FD from banks & NBFC which will offers interest rates of upto 8.35%.
Minimum ticket size for Bank FD will be 1k and for NBFC 15k ( Info by wint wealth growth team). This all FD's is insured upto 5 lakh by RBI.
Note : There can be deviation in information.

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