Is idfc bank safe?

[niranjan0]

Hello,

Long story short, I had funds laying around in my current account, around 15L. And I came across IDFC bank with their 7% interest and it is paid monthly!

How is your experience with IDFC bank? Should I or should I not put my funds in IDFC Savings account?

I've already opened an account and transferred some funds there, but I just wanted to confirm if there's anything I should know!

Best Regards.

 

[paxauquabriba-4876]

Har bank mein yehi trick hai babu bhaiyya

My guess is since any amount above 5lacs = 0 liability for banks since DICGC have no authority.
Plus the bnak's underwriters would charge less to secure amounts above 5lacs due to 0 legal liability.
Basically any amount above 5lacs at banks would fetch 7% interest but the principal is secured by Bhagwan Bharose and/or FAITH of your choice..

 

[Trust Me]

A large bank like IDFC failing and the government not being able to prevent it means bigger problems.

The question is not whether the government is able to bail them out, but whether they are legally obligated to do so! They are not. Otherwise the 5L insurance limit makes no sense, nor does the concept of SIBs.

Same in other countries as well, where banks are allowed to fail irrespective of whether the governments are able to prevent it or not.

Just because in India the governments have so far bailed failing banks out, it doesn't imply a guarantee that they would keep doing so in future. There have been enough indications to the contrary in the recent past.

 

[smz]

The question is not whether the government is able to bail them out, but whether they are legally obligated to do so! They are not. Otherwise the 5L insurance limit makes no sense, nor does the concept of SIBs.

Same in other countries as well, where banks are allowed to fail irrespective of whether the governments are able to prevent it or not.

Just because in India the governments have so far bailed failing banks out, it doesn't imply a guarantee that they would keep doing so in future. There have been enough indications to the contrary in the recent past.

Please elaborate last sentence

 

[Quantum]

Something off-topic than the thread title, and ignoring the pattern that Indian banks don't go bankrupt frequently:
If only 3 banks (SBI, HDFC, ICICI) are important for RBI (read government) for economy, then where do we keep funds above 5L (DICGC assurance) if we want better interest rate?
I know you may suggest that if you want better returns then invest, and if you want assurance then forget about better interest.
But most of the population is not into investing into MF, stocks, etc.
What are the options for them in this case then?

 

[Slayer]

Something off-topic than the thread title, and ignoring the pattern that Indian banks don't go bankrupt frequently:
If only 3 banks (SBI, HDFC, ICICI) are important for RBI (read government) for economy, then where do we keep funds above 5L (DICGC assurance) if we want better interest rate?
I know you may suggest that if you want better returns then invest, and if you want assurance then forget about better interest.
But most of the population is not into investing into MF, stocks, etc.
What are the options for them in this case then?

My grandfather has 5 cr FD (in chunks) in IDBI bank 😃

 

[phoenix1386]

My grandfather has 5 cr FD (in chunks) in IDBI bank 😃

Thanks for that broadcast. Keep your doors locked.

 

[george99]

for investors




for consumers
NO. 1 USELESS WORST BANK

Using IDFC Bank since 2017,best bank out there.Never had any issues with them.Best customer support too.

 

[Vasuki]

Using IDFC Bank since 2017,best bank out there.Never had any issues with them.Best customer support too.

Best customer support 😅

 

[george99]

Best customer support 😅

Yup never had any issue,i have 2 accounts over there and both are wealth accounts

 

[srikant]

Hello,

Long story short, I had funds laying around in my current account, around 15L. And I came across IDFC bank with their 7% interest and it is paid monthly!

How is your experience with IDFC bank? Should I or should I not put my funds in IDFC Savings account?

I've already opened an account and transferred some funds there, but I just wanted to confirm if there's anything I should know!

Best Regards.

You can put this in IDFC Bank. In a Scheduled Commercial Bank's scheme of things, INR 15 L isn't a very huge amount. If you hit 1C+, you might want to once again look up the bank's financial health.