IDFC FIRST Bank
I have recently opened an account and haven't received the welcome kit yet which probably has the detailed T&C. According to the Niyo community website, for savings less than or equal to 1 lakh, the rate is 6%. For savings of more than 1 lakh, the rate is 7%.
cooltexas60s
Newbie
@Sushubh , if d I recall you had standard chartered account. Can you guide me how to get my bank account approved over income tax portal for recieving my tax refunds . I have added my new SCB account 1 month back but it is not approved from bank side and customer care is clueless abou this process of authentication of bank account over income tax portal. My current HDFC Bank account is updated but I want to close it and replace it with new SCB account
i really have no clue man. my yes bank account exists because it is basically registered for tax refunds. made mistake not getting it switched to indus when i filed my itr few days ago. would find out next year how it is done
i would have preferred this interest rate on fd tbh. at least there is a lock-in period. with savings interest, they can reduce it at any time. this is also why i am switching to idfc for my primary account. i would only keep spending money in this account. so at least that would earn 6-7% instead of 5% on my existing accounts.
varkey
I got banned!
If they reduce interest rate I don't want to be stuck with 25k MAB.
people don't shut down their bank accounts? 
plus it is likely to remain higher than more established mid-tier banks like kotak/indus/yes. savings interest is the only reason people go to these banks bypassing the big three.
i plan to keep it delinked to anything that would force me to keep it active for long time. like i have done with indus. but use it for my day to day banking needs like upi transactions or atm withdrawals.
but yes, if you are looking at it for a secondary/disposable bank account, best to get their zero balance account. and for that create an account online. because like all other banks, branch officials would just pretend that the zero balance account option is just not available at their outlet like i was told today. WE ONLY HAVE A SINGLE TOP TIER SAVINGS ACCOUNT TYPE! AND YOU GET A VISA SIGNATURE CARD!!!
plus it is likely to remain higher than more established mid-tier banks like kotak/indus/yes. savings interest is the only reason people go to these banks bypassing the big three.
i plan to keep it delinked to anything that would force me to keep it active for long time. like i have done with indus. but use it for my day to day banking needs like upi transactions or atm withdrawals.
but yes, if you are looking at it for a secondary/disposable bank account, best to get their zero balance account. and for that create an account online. because like all other banks, branch officials would just pretend that the zero balance account option is just not available at their outlet like i was told today. WE ONLY HAVE A SINGLE TOP TIER SAVINGS ACCOUNT TYPE! AND YOU GET A VISA SIGNATURE CARD!!!
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Niyo Community goniyo bank acc is too risky. Account balance turning negative, freezed. 
