How much Commission do Bank Employees make in FDs?

[dvader]

Here is how the commission goes

1. Safe, regulated, and good products for customers: Zero, minimal, or even discouraged. Honestly, this practice came to India from big MBA graduates from the USA. They studied in the USA when banking was getting unregulated, once the USA was burned to the ground in 2008, these students came back to India and we were flooded with ULIPs, Insurance, Guaranteed Income plans, etc.

2. Insurance, ULIPs, Trash, Scams, Partial Scams, Terms and Conditions Gotchas: A shit load of commission

Still, there are a few banks in India where the management policy is to push for safe products and they at least give non-zero incentives for that. So if you have some disposable income no harm in making short-term FDs to beat the inflation (just don't get it in your name or the interest will be taxable).

 

[_ayush]

I already know that, but still HDFC guy called me today to make FD/MFs offline cuz I got some amount yesterday. So, I asked him to get me Millennia CC atleast. I don't have any CCs except for SBIs.

MFs might give them some commission. Regular funds have higher expense ratio compared to direct funds. Those funds give around 1% commission. Not sure how it's divided to HDFC employees.

 

[desiviru]

On FDs banks never give comission to employees as rightly pointed out by many here expecially most PSU and large pvt have targets only and incentives are given from bank's profit for bringing in more funds. But some SFB banks do give something but that is not much like when I opened FD at Unity they asked me to open using physical form and Manager shown me the incentive chart. Every FD above 5L = Rs.350 to manager and Rs.50 each to employee code/bo. Total 450 only. Below this manger has 250 while others have 50-50. Nothing on FDs below 2.5L.

There is no %ge of FD amount in any bank. 0.5% is too much as some said here.

 

[Sinatra]

i can confidently guess IDFC dont pay any commission to their folks for FD.
we want to open FD but they are least bothered. 😛