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bank account to park 10 to 24lacks

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Deal Lieutenant
Demondealer

which is the best bank to park 10 to 24lacks to get 7% interest plus a premium debit card with good benfits like swiggy movie and groceries offers

thanks

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Deal Newbie Deal Newbie
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my bank account

Deal Cadet Deal Cadet
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image

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Deal Newbie Deal Newbie
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my bank account

Deal Lieutenant Deal Lieutenant
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i know someone will comment this lol. this is overly used comment
Pro Shopping Friend Pro Shopping Friend
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I guess idfc suits u

Deal Lieutenant Deal Lieutenant
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which debit card they offer and is it free?
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Deal Cadet Deal Cadet
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Equitas

Generous Generous
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Freeze laughing in the corner

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Benevolent Benevolent
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IDFC, you will get wealth banking and interest rates are good too. 

Deal Captain Deal Captain
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Why not indusind??

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Deal Cadet Deal Cadet
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Kotak 811 super account

Deal Lieutenant Deal Lieutenant
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kotak only 4%
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Heart of Gold Heart of Gold
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Either IndusInd or IDFC bank

IndusInd gives you an exclusive account with their premium dc and IDFC gives you a Wealth account with IDFC Wealth dc.

Deal Captain Deal Captain
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If among these 2, which is your first choice , why?
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Deal Cadet Deal Cadet
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Use any bank and make flexi fd.

Deal Captain Deal Captain
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Flexi FDs don't work well, interest will be lost

Deal Subedar Deal Subedar
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RBL Aspire Banking?

Deal Cadet Deal Cadet
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image

Deal Newbie Deal Newbie
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Demondealer!! You have been cautioned AGAINST putting ANY funds in this Lakshmi chit-fund, unless you want to loose the funds.

Instead, something safe like Sahara India parivaar deposit schemes can be looked up to.
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Deal Lieutenant Deal Lieutenant
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finally decided to open idfc first wealth account. visited the branch

they sent a person to hope to open the account as they need to take GPS. account opening time 48hrs max as per them

MAB is 10L. they will take 10l  cheque

Deal Captain Deal Captain
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Any reason for not going with Indusind?

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Deal Cadet Deal Cadet
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1. Jana small finance bank (weekly interest 6.75%)

2.UTKARSH SMALLFINNCE BANK ( you will get 7.25% above 5 lakhs . overall 7% for balance above 10 lakhs sb interest credited quaarterly

3.ESAF . same as Utkasrh but slighly less . you will get arounf 6.75-7$ for sb balance around 10-15 lakhs 

Indusind fd ok but not for sb.Equitas good for FD but sb has come less than above 3. IDFC fd (18 months) ok but sb (though monthly interest credit) sb interest much below above 5 smll finance banks. (RBI guarantee is only 5 lakhs) 

I use them all anyway

Investor Guru Investor Guru
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For short term, you can do bonds investment as well.
Some platforms are offering 12-16% on A rated bonds right now

Deal Cadet Deal Cadet
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Can you suggest some options?

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Generous Generous
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IndusLnd , trusted and no 1

Helpful Helpful
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Many good Options like... IndusInd,  IDFC, Bandhan, RBL Bank, AU Small finance...

Following the thread. 

Deal Captain Deal Captain
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How much TDS gets deducted for 10L kept in savings account?

Pro Community Angel Pro Community Angel
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There is no tds 

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Deal Cadet Deal Cadet
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@7H4NO5 @LG50 @saymyname78

 I was referring indusind debit cards official pages,

https://www.indusind.com/in/en/personal/Indus-R...

https://www.indusind.com/in/en/personal/cards/i... (points for usage tab)

https://www.indusind.com/in/en/personal/cards/d...

I see no upper cap for earning or redemption for these cards Pioneer World/ Infinite
Debit Card. which means effectively > 40K spends its 6x rewards so its 3% rewards right? I hope MCC 4900 gives points can anyone confirm? which is higher than IDFC Wealth?

Finance Mentor Finance Mentor
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Just FYI, I know  @Demondealer  has already decided and gone with IDFC, which is a great decision.

Indusind Grande/Pioneer DCs gives 20% on BB and swiggy. This is even after the recent devaluations of premium indusind DCs like exclusive.

https://bank.indusind.com/pioneer/rewards-and-p...

Yes the savings interest rates are probably better with IDFC, However personally I feel a tad better to be with indusind and FD rates are quite good on indusind.

Current FD rates:
indusind : 7.75 for 1-2yrs FD
idfc : 7.75 for 400-500 days FD

If one has the fund of 25-30L, FD with indusind might seem attractive. But all depends on the personal needs of a person.

Both banks should be good enough. 👍🏼

Deal Lieutenant Deal Lieutenant
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on savings acount do they credit interst monthly or quaterly?

idfc gives monthly payout
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