SA with high interest rates or a bank FD?

[Anindya98]

I opened their premium savings account, full kyc account online, got rupay select dc. 50k is the AQb, no issues for me bcoz I generally keep higher balances. App is very smooth, payee addition , imps/neft transfers all in an instant . Just some refinement needed in app & netbanking is same as the app. Overall I’m very satisfied with utkarsh sfb .

What's the DC charge?
Can you share the account variant and DC charges?
Can everything be done online? The branch is 40- 45 km away.
The primary objective is to get RSDC.

 

[NikhilG]

What's the DC charge?
Can you share the account variant and DC charges?
Can everything be done online? The branch is 40- 45 km away.
The primary objective is to get RSDC.

It's premium account, debit card is completely free. I'm also planning to open an account online today, not sure if vkyc can be done today as it's bank holiday

 

[Anindya98]

I guess I get indusind select account with select debit card with 10 lac fd. How do I get that debit card with 0 percent markup on atm. Don't remember what it's called. How can I get it with fd ?

Get an Exclusive Account with 20L FD and enjoy everything you want. Pair it with Tiger for additional International Lounge Access. No need to get Pinnacle CC as you fulfill the FD criteria.

 

[Anindya98]

It's premium account, debit card is completely free. I'm also planning to open an account online today, not sure if vkyc can be done today as it's bank holiday

Share in details

 

[NikhilG]

Get an Exclusive Account with 20L FD and enjoy everything you want. Pair it with Tiger for additional International Lounge Access. No need to get Pinnacle CC as you fulfill the FD criteria.

View attachment 95722

it says indulge/ pinnacle credit card, what does that mean?
Can they open full kyc completely online?
Can it be really paired with tiger as it's their non core card?

 

[Anindya98]

it says indulge/ pinnacle credit card, what does that mean?

If you have any one of the cards linked with the account, it will be 0 MAB

Can they open full kyc completely online?

Yes

Can it be really paired with tiger as it's their non core card?

Yes

 

[NikhilG]

If you have any one of the cards linked with the account, it will be 0 MAB

Yes

Yes

Okay, done I will open a 20 lac fd with them at 7.75% but first I will open savings account with 1 lac rupees?

 

[NikhilG]

I see exclusive debit card says zero percent markup but didn't mention if it's online pos or atm withdrawal as well?

Get an Exclusive Account with 20L FD and enjoy everything you want. Pair it with Tiger for additional International Lounge Access. No need to get Pinnacle CC as you fulfill the FD criteria.

View attachment 95722

 

[Anindya98]

I see exclusive debit card says zero percent markup but didn't mention if it's online pos or atm withdrawal as well?

Post in thread 'IndusInd Bank Tiger Credit Card'

Sunday at 11:10 AM

AFAIK, Exclusive DC has no withdrawal charges. @telescope might share some more light.

Yes correct. Indus exclusive dc has no charges for overseas atm withdrawal and 0 markup. International balance enquiry is chargeable though.

• telescope

• 

Okay, done I will open a 20 lac fd with them at 7.75% but first I will open savings account with 1 lac rupees?

Yes, also open the FD when the interest rate is 7.9%

 

[NikhilG]

Post in thread 'IndusInd Bank Tiger Credit Card'

Sunday at 11:10 AM

AFAIK, Exclusive DC has no withdrawal charges. @telescope might share some more light.

Yes correct. Indus exclusive dc has no charges for overseas atm withdrawal and 0 markup. International balance enquiry is chargeable though.

• telescope

• 

Yes, also open the FD when the interest rate is 7.9%

I think interest rate will further decrease. When was is 7.9%? I see now 7.75

 

[Anindya98]

I think interest rate will further decrease. When was is 7.9%? I see now 7.75

Every quarter lasts 2-3 weeks.

 

[ashwinikumar900]

I'm trying to decide between a decent savings account with a high interest rate(playing out with slabs to see which bank starts giving their max internet rate within lowest slab) vs creating bank fds and foregoing flexibility but getting extra roi.
This is in regard of parking several lakh, but I don't really when I could require it so I would love that flexibility but my track record shows that even I have been using my savings account until now to park that money, I never really took out that money for many years. I feel bad 🤔 I could have rather created a fd but I have done the maths and I feel more comfortable if I get 7.5 percent in sa then a fd of 8 percent.
But there is a catch and that is slabs in savings account, example rbl starts giving 7.5 percent after 25 lacs so my first 25 lacs will earn according to various slabs and I lose lot of interest amount on that.
My question is if I park money in small finance bank, and it's a saving account so isn't risk well controlled as if I get some news bank is not performance one click and I can move everyone out of savings account or is it not worth the risk,
Also what wins the game these days high roi savings account or old school fd?

If your amount is above 10 lakhs, choose IDFC FIRST Bank. The interest rate is 7.25% for monthly payouts. It is a safe bank.

 

[NikhilG]

Sorry for sounding novice, but is the monthly payout if reinvested means better overall returns? I considered idfc first for savings account not for fd due to difference of 0.5 percent in roi. Also any good rewarding debit or credit card I get on 10 lac fd or sa
I already hold idfc first select credit card with 3.7 lac limit.

If your amount is above 10 lakhs, choose IDFC FIRST Bank. The interest rate is 7.25% for monthly payouts. It is a safe bank.

 

[NikhilG]

Every quarter lasts 2-3 weeks.

Oh for this quarter it hasn't come up yet?

 

[Anindya98]

Oh when is the next one expected, may is already starting

June 10 - 30

 

[NikhilG]

June 10 - 30

But rbi bas deceased the base rate so I'm not sure if they could still give

 

[Anindya98]

But rbi bas deceased the base rate so I'm not sure if they could still give

Have to wait and see

 

[ashwinikumar900]

Sorry for sounding novice, but is the monthly payout if reinvested means better overall returns? I considered idfc first for savings account not for fd due to difference of 0.5 percent in roi. Also any good rewarding debit or credit card I get on 10 lac fd or sa
I already hold idfc first select credit card with 3.7 lac limit.

Sorry for sounding novice, but is the monthly payout if reinvested means better overall returns? I considered idfc first for savings account not for fd due to difference of 0.5 percent in roi. Also any good rewarding debit or credit card I get on 10 lac fd or sa
I already hold idfc first select credit card with 3.7 lac limit.

Yes, monthly payouts are deposited directly into your savings account, so starting next month you’ll earn interest on your entire balance. The debit card rewards are impressive, if you open a WEALTH account, the Wealth debit card (Visa Infinite) offers a much better reward rate than their credit cards.
As for the credit card, since you already have the SELECT card, upgrading to the Wealth credit card should be straightforward. However, I recommend visiting your nearest branch to negotiate the credit card upgrade before opening the new account. Since you’ll be opening a WEALTH account, they’re likely to accommodate your requests happily.

 

[Arnal07]

Sorry for sounding novice, but is the monthly payout if reinvested means better overall returns? I considered idfc first for savings account not for fd due to difference of 0.5 percent in roi. Also any good rewarding debit or credit card I get on 10 lac fd or sa
I already hold idfc first select credit card with 3.7 lac limit.

If you create a fd with monthly payout then your bank calculates interest rate quarterly and pays you monthly, means that you get a reduced interest rate.Hence, a fd with payout at maturity gives better or same return of the fd with monthly payout reinvested.

 

[NikhilG]

Yes, monthly payouts are deposited directly into your savings account, so starting next month you’ll earn interest on your entire balance. The debit card rewards are impressive, if you open a WEALTH account, the Wealth debit card (Visa Infinite) offers a much better reward rate than their credit cards.
As for the credit card, since you already have the SELECT card, upgrading to the Wealth credit card should be straightforward. However, I recommend visiting your nearest branch to negotiate the credit card upgrade before opening the new account. Since you’ll be opening a WEALTH account, they’re likely to accommodate your requests happily.

I don't want to visit bank in person, it's so depressing 😞