IDFC FIRST Bank

didn't they recently changed their interest rate and were giving 7% on amount <=1 cr


Source

edit: okay new rules will be effective from 01 jan 2021​

 
From 01 Jan 2021 new rates will be effective i.e. 7% for <=1cr

I will confirm with them on twitter.

Because of new rates I was thinking of opening an account but bank's health is not very good so couldn't decide.
 
7% is under 1 crore already 😶

ok. so you are saying they are increase interest on <1L balance to 7% as well? seems unlikely but the image above basically says this.
 
no I mean even for <=1 lac you will get 7% as per new rates instead of 6%

check the imgur image above.

Yes, thats what I meant. I will confirm and update you.
 
that would make them the only bank that has increased interest rate in a loooong time lol. the local branch guy said the same 6% below 1L thing. would again ask tomorrow. in any case, 6% is more than 5% which is what indus is offering on <10L balance so planning to move all cash in hand from yes and indus to idfc.
 
Instead of an IDFC First account, try opening Niyo IDFC First Account. Their MAB requirement is 0(although it is incorrectly mentioned as ₹10000 in the app as the app is yet to be updated) and initial funding is ₹10000.
 
ugh. i am not looking for a backup or disposable bank account. i am looking for a new primary bank account. so aqb requirements are not really that important.
 
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