IDFC FIRST Bank

[varkey]

I don't think I've visited a physical bank branch anytime in the last several years

 

[maverickreborn]

In the last 4 years of my association with Icici bank, i barely visited the branch like 2/3 times. These days Icici app gone nuts. Benefits of idfc seems good.

 

[Smh]

1 account with Bank that has Branch near you is good enough for depositing cheque, issuing DD, deposit cash.

 

[pachabhut]

I don't think I've visited a physical bank branch anytime in the last several years

My primary account is with ICICI for the last 21 years. I have shifted 5 different cities. Had to visit the branch for a total of about 8-9 times.

 

[ijsa]

that's basically the idea. i do not want to deal with the big three. so keep <5L in multiple banks and dump the rest in gold or bitcoin eventually. i like to live my life dangerously and post rants about banks.

I am not sure........ want to know that 5L guarantee by RBI is for each & every bank account or across all banks and accounts of an individual.
Say I have saving Accounts in SBI, HDFC & Yes...... each having 5L balance...... so the total guarantee by RBI would be 15L or 5L......

 

[Sushubh]

7. Can deposit insurance be increased by depositing funds into several different accounts all at the same bank?

All funds held in the same type of ownership at the same bank are added together before deposit insurance is determined. If the funds are in different types of ownership or are deposited into separate banks they would then be separately insured.

8. Are deposits in different banks separately insured?

Yes. If you have deposits with more than one bank, deposit insurance coverage limit is applied separately to the deposits in each bank.

9. If I have my funds on deposit at two different banks, and those two banks are closed on the same day, are my funds added together, or insured separately?

Your funds from each bank would be insured separately, regardless of the date of closure.

Reserve Bank of India - Frequently Asked Questions

 

[Sushubh]

7 percent interest

IDFC First Bank hikes interest rate on savings balances below 1 lakh to 7%

IDFC Bank's new savings account deposit rate compares favourably with the 3-4% on offer in major private sector banks.Savings account balances above ₹1 lakh will continue to earn 7%, as before

www.livemint.com

 

[Sushubh]

6% interest on fd still. insane that idfc's savings bank interest is probably higher than fd interest rates of all major banks.

 

[Sushubh]

As per the RBI circular, now you can set your Online Purchase/E-Commerce Transaction limits on your Debit Card from 13th January 2021. Limit pertaining to Point of Sale, International feature will be set to a default value, you can set your desired limit by logging into Netbanking/Mobile Banking.

To activate the service/set limits, please follow the below steps :

Login to Netbanking/ Mobile App
Click on Debit Card
Click on Limit Management
Click on Purchase tab
Enable/set limit as desired & authenticate the same using OTP

 

[maverickreborn]

IDFC first bank about to launch CREDIT CARDS