Best FD account 2024

[hgupta]

Kindly suggest best FD account as of now in 2024
Following features should be there in it-
1. No premature penalty.
2. Highest interest rate.
3. Safety of the fund.
4. Easy and instant deposit and withdrawal.
5. No MAB or Low MAB required (in case of SB account is necessary for it)

 

[pothi]

There is no such thing as the best FD account. The interest rates keeps changing. If you use stable money app, you may know what I mean. Every two or few months, the bank providing highest FD rate keeps changing.

Most SFBs provide better FD rate than traditional banks.

Anyway, recently I opened a digital SB account with Ujjivan SFB, mainly for FD. I can opt out of debit card while opening the account. No virtual card option. UPI can't be enabled via aadhaar. That's the only drawback I see in it. Otherwise, zero charges on digital SB account (for now). The FD account can be opened without SB account too. Not sure how that works out, though.

All banks guarantee our money only until 5lac. If you have more money, split the funds across the banks.

I am looking for a bank without premature penalty too. So, following this thread. 😂

 

[quino]

I am looking for a bank without premature penalty too. So, following this thread. 😂

well, equitas sfb has no premature penalty for fds of >6 months, i believe their current rate is 8.5%.

they'll give you their top tier account Equitas Elite (0 bal acc) with loads of benefits

 

[aamaadmi]

Kindly suggest best FD account as of now in 2024
Following features should be there in it-
1. No premature penalty.
2. Highest interest rate.
3. Safety of the fund.
4. Easy and instant deposit and withdrawal.
5. No MAB or Low MAB required (in case of SB account is necessary for it)

IndusInd seems to offer best rates for non-SFB banks. It has premature penalty though

 

[abhirupmukherjee11]

IDFC bank is currently providing interest rate of 8% on FD of 500 days. Other banks such as IndusInd and Yes Bank are providing interest rate of 7.75%

 

[hgupta]

There is no such thing as the best FD account. The interest rates keeps changing. If you use stable money app, you may know what I mean. Every two or few months, the bank providing highest FD rate keeps changing.

Most SFBs provide better FD rate than traditional banks.

Anyway, recently I opened a digital SB account with Ujjivan SFB, mainly for FD. I can opt out of debit card while opening the account. No virtual card option. UPI can't be enabled via aadhaar. That's the only drawback I see in it. Otherwise, zero charges on digital SB account (for now). The FD account can be opened without SB account too. Not sure how that works out, though.

All banks guarantee our money only until 5lac. If you have more money, split the funds across the banks.

I am looking for a bank without premature penalty too. So, following this thread. 😂

How do you operate ujjivan sb account? Through stable money app or ujjivan bank app or have nearby branch? If you have this account for the purpose of FD only, what is the need of opening SB account? I have seen a promotional video of stable money that perhaps claims zero premature penalty. Is it true?

 

[Vasuki]

IDFC bank is currently providing interest rate of 8% on FD of 500 days. Other banks such as IndusInd and Yes Bank are providing interest rate of 7.75%

No one should trust idfc with their bank account.
If ur account get freezed u need to close everything

 

[Vasuki]

Kindly suggest best FD account as of now in 2024
Following features should be there in it-
1. No premature penalty.
2. Highest interest rate.
3. Safety of the fund.
4. Easy and instant deposit and withdrawal.
5. No MAB or Low MAB required (in case of SB account is necessary for it)

Become senior citizen in indusind

5 lakh is safe in all banks which comes under rbi

 

[hgupta]

No one should trust idfc with their bank account.
If ur account get freezed u need to close everything

Reason for freezing the account?

 

[varun__goel_]

Reason for freezing the account?

They are freezing for literally doing a few(even less than 10) UPI txns. No matter credit or debit. Even if its to and from your other accounts...

Thread 'IDFC Bank Account Total Freeze' https://www.technofino.in/community/threads/idfc-bank-account-total-freeze.24060/

 

[palen]

Check out stablemoney.in

 

[Walter White]

Kindly suggest best FD account as of now in 2024
Following features should be there in it-
1. No premature penalty.
2. Highest interest rate.
3. Safety of the fund.
4. Easy and instant deposit and withdrawal.
5. No MAB or Low MAB required (in case of SB account is necessary for it)

1) BoB
2) PNB Housing Finance
3) AU SFB
4) Bandhan Bank
5) PNB

 

[its_karan]

Kindly suggest best FD account as of now in 2024
Following features should be there in it-
1. No premature penalty.
2. Highest interest rate.
3. Safety of the fund.
4. Easy and instant deposit and withdrawal.
5. No MAB or Low MAB required (in case of SB account is necessary for it)

If willing to change perspective toward Fixed Income Allocation
and
Can do some Hardwork

and look into Debt Mutual Funds(obviously Direct)

1,2,4,5

Gets fulfilled very easily

3. You have to lookup

• Don't go for Long Duration
• Match FD period you are looking with Average Maturity of the Fund
• Avoid Corporate Fund if you are beginner
• Check factsheet
• and many many more pointers but if you want to look into it

My suggestions will be biased based upon my allocation of my own /clients money

Cheers!

 

[doraemon]

Kindly suggest best FD account as of now in 2024
Following features should be there in it-
1. No premature penalty.
2. Highest interest rate.
3. Safety of the fund.
4. Easy and instant deposit and withdrawal.
5. No MAB or Low MAB required (in case of SB account is necessary for it)

Au is giving 8% for 18 months
They have good service in general

 

[pothi]

How do you operate ujjivan sb account? Through stable money app or ujjivan bank app or have nearby branch?

Through bank app and its net banking. I am allocated to the main branch for digital banking. I can change the branch at anytime.

I use stable money only to send me alerts about changes in interest rates.

If you have this account for the purpose of FD only, what is the need of opening SB account?

I opened Ujjivan SB account mainly for FD. I have RD too. And I keep some funds for liquidity in it to get better interest rate than other bank accounts I hold. It helps me to save some SMS charges as well.

I have seen a promotional video of stable money that perhaps claims zero premature penalty. Is it true?

No idea. I don't trust stable money. There are already too many issues when dealing directly with the banks. If there is an intermediary and it there is an issue, both will pass the blame to the other.

Remember that most SFBs don't spend enough money on their tech, compared to the traditional banks. AU is an exception, but it already lowered its interest rates inline with the traditional banks.

I opened an SB account in Ujjivan because I don't have an SB account with any other SFB and there are two branches close to my location and one of them even provided a good experience when I visited in person. So, if there is an issue, I can always make a visit and solve it quickly than trying to solve virtually. There are issues and there will always be. We have to balance the peace of mind and the benefits.

Suryoday SFB provides the highest interest rate as of this writing. However, there are some tech issues as can be seen in their Twitter timeline.

 

[its_karan]

Through bank app and its net banking. I am allocated to the main branch for digital banking. I can change the branch at anytime.

I use stable money only to send me alerts about changes in interest rates.



I opened Ujjivan SB account mainly for FD. I have RD too. And I keep some funds for liquidity in it to get better interest rate than other bank accounts I hold. It helps me to save some SMS charges as well.



No idea. I don't trust stable money. There are already too many issues when dealing directly with the banks. If there is an intermediary and it there is an issue, both will pass the blame to the other.

Remember that most SFBs don't spend enough money on their tech, compared to the traditional banks. AU is an exception, but it already lowered its interest rates inline with the traditional banks.

I opened an SB account in Ujjivan because I don't have an SB account with any other SFB and there are two branches close to my location and one of them even provided a good experience when I visited in person. So, if there is an issue, I can always make a visit and solve it quickly than trying to solve virtually. There are issues and there will always be. We have to balance the peace of mind and the benefits.

Suryoday SFB provides the highest interest rate as of this writing. However, there are some tech issues as can be seen in their Twitter timeline.

That cleared many doubts

thanks

 

[Sourabh_13]

Kindly suggest best FD account as of now in 2024
Following features should be there in it-
1. No premature penalty.
2. Highest interest rate.
3. Safety of the fund.
4. Easy and instant deposit and withdrawal.
5. No MAB or Low MAB required (in case of SB account is necessary for it)

Please start such bank

 

[SSV]

Kindly suggest best FD account as of now in 2024
Following features should be there in it-
1. No premature penalty.
2. Highest interest rate.
3. Safety of the fund.
4. Easy and instant deposit and withdrawal.
5. No MAB or Low MAB required (in case of SB account is necessary for it)

Please start such bank

It seems Mr. Gupta ji , wants Miss India 2024 with 0 MAB i.e. 0 Maintenance …
Very very hard to find such one!!!