IDFC FIRST Bank

These days content for most of the news article is not more than 1-2 lines. Rest is twisting those lines again n again.
The more time a person spends on a news article the better is the ad revenue I guess :/
 
Looks like a school kid knowing 1 or 2 lines of a topic in a text book and is trying to answer a 5-mark question.
 
Samuel said:
I'm talking about breaking the FD manually, which you can do by logging into your account. You can break an FD at any time, but that incurs a fine which is 1%. If you were supposed to get 5.5%, you'll get 4.5%.

Bankers lie all the time. My relationship manager at HDFC moved to Axis and now she's telling me that I can create an FD in Axis and if I break it, there will be no charges. While I'll have to pay a fee in HDFC.

When I told this to my existing relationship manager at HDFC, she started laughing because every bank has different terms and conditions and there's always some catch. Here's the catch at Axis.



And here I'm talking about normal FDS, sweep-in basically means withdrawing your invested amount. You can opt if you want to get interest every month, quarterly or annually.

HDFC also offers a Savings Max account for which the MAB is 25k. 4% annual interest.
Click to expand...

3% since mid-2020, not 4%. Maybe after UP elections we will see a rise in acche din to 2.5% instead of 3%.
 
Smh said:
oh okay I have used that feature with HDFC. They also have auto sweep in, the advantage is you don't have to break whole FD so less loss of interest. For manual sweep in you have to keep multiple FD of small amount.

Surprisingly not all bank offer this specially PSU ones.
Click to expand...

I suppose in cases where you might need a small amount of the money from the FD, it might be better to go for an Overdraft FD product, the entire FD keeps earning interest but you pay 1% above that interest rate on the amount you withdrew.

For cases where you just want a buffer in the account for cheques or anything, that seems to be a good way to go.
 
I updated their app, now it ask for new permission sms and contacts to assess you credit worthiness.
They want to read your sms "only financial" no clue how they can segregate personal sms without reading and processing them.

This is borderline spyware to read all sms for assessing credit. I guess cred also does this right? God knows what they will do with contact info. Call them if u default like Chinese shady apps?

Fortunately only phone permission is required to identify your device and mobile no. and rest are optional.
 
RBI will have to. It's a scheduled bank.

Mainly because of covid second wave situation is bad.

Now if they reduce interest rate they will lose more deposits and if they don't more loss can happen.

Share market on Monday could indicate how bad or okay things are.
 
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