Is FD safe in IDFC bank?
Enjoy earning more on your finances with an IDFC FIRST Bank Fixed Deposit Account. Safe and risk-free investment, as the FD interest rate is not dependent upon market volatility. Investors can rest assured that they will get the money they invest. No penalty for senior citizens on an early withdrawal.
Features and Benefits of IDFC First FD
The tenure ranges between 7 days to 10 years. IDFC First Bank deposits are secured under the Deposit Insurance Scheme of RBI under which up to ₹ 5 lakh of all deposits of deposit holders are insured by DICGC.
Yes, IDFC Bank is one of the best bank in terms of its features offered. Unlimited ATM transactions at any bank ATM in India. Free NEFT,RTGS and IMPS for inward and outward transactions. Free DD's payable at par at all branches of IDFC bank locations.
HDFC Bank is often listed as the best FD scheme to invest in India.
The short answer is no: FDs are not entirely risk-free. While they are considered safer than many other investment options, there are still some risks to be aware of. Interest Rate Risk: FD interest rates are fixed at the time of investment.
Financials. The bank achieved a profit after tax (PAT) of ₹2,437 crore in the financial year 2023, maintaining a capital adequacy ratio of 16.82%. The bank's retail loans showing a gross non-performing asset (NPA) ratio of 1.65% and a net NPA ratio of 0.55% as of March 31, 2023.
The Reserve Bank of India (RBI) insures your deposits up to ₹5 lakhs.
ICICI Bank is rated higher than IDFC FIRST Bank for skill development, job security and company culture, whereas IDFC FIRST Bank is rated higher for work-life balance, compensation & benefits, career growth and work satisfaction.
| S.N. | Bank Name | Market Capitalization (cr. Rs.) as on July 2016 |
|---|---|---|
| 4. | Kotak Mahindra | 150,176.96 |
| 5. | IndusInd Bank | 73,272.69 |
| 6. | Yes Bank | 60,701.20 |
| 7. | IDFC Bank | 20,369.39 |
Which bank gives 9.5 interest on FD?
At Unity Small Finance Bank, senior citizens can get up to 9.50 per cent on FDs of 1,001 days. The bank revised rates on February 2, 2024. It provides 9.25 per cent to senior citizens for more than six months to 201-day FDs.
| Name | Bank / NBFC | Regular FD Rates |
|---|---|---|
| SBI Bank | Bank | 7.10% |
| ICICI Bank | Bank | 7.20% |
| Axis Bank | Bank | 7.20% |
| HDFC Bank | Bank | 7.20% |
Public Provident Fund (PPF)
PPF investment has a lock-in period of 15 years. PPF is considered as one of the safest investments as sovereign guarantees back the scheme. Like bank FDs, PPFs offer a much higher rate of interest than a regular savings bank account.
As per the current Income Tax rules, the exemption limits vary based on the age and taxable income of the depositor. The exemption limit for TDS on FDs is Rs 40,000 for individuals excluding senior citizens. This means TDS will not be deducted if the interest earned on an FD in a financial year is below Rs 40,000.
According to the Income Tax Act, 1961, interest on FDs is treated as 'income from other sources' and hence, is fully taxable. The FD interest earnings are included in your gross annual income, and the tax liability is estimated, following the prevalent tax laws.
Fixed deposits also carry Interest rate risk
Once the investment commitment is made you receive fixed return on these FDs till maturity. This creates interest rate risk in two ways. If interest rates go up in the economy, you don’t benefit as you are locked into the FD at current rates.
Shares of IDFC First Bank on Thursday fell 3.5% to the day's low of Rs 75.10 after private equity firm Warburg Pincus likely exited the private sector lender through block deals. A large block deal in which around 2.6% equity changed hands was noticed on the counter this morning.
IDFC began as an infra lender in 1997. It got in-principle approval from the RBI to set up a bank in April 2014, and in October 2015, it launched IDFC Bank when on-tap licensing began, following which loans and liabilities of IDFC were transferred to the bank.
It's the very first bank that offers monthly interest-free credit to savings accounts and lifetime credit cards for free with flexible and low percentage annual rates. The company has good growth potential, and it is a great investment option for the long term.
| Bank Name | Profit (Rs.) | Market Cap (Rs.) |
|---|---|---|
| HDFC Bank | 164 billion | 1,105,645 |
| ICICI Bank | 11,052.60 | 701,004 |
| SBI | 14,330 | 551,809 |
| Kotak Mahindra | 3,005 | 355,511 |
Is HDFC same as IDFC?
The merger of IDFC with IDFC First Bank marks the first big consolidation in the country's banking space after the HDFC twins completed the process of amalgamation between them to create one of the biggest financial institutions in the world. The HDFC-HDFC Bank merger is the biggest in the country's corporate history.
IDFC Bank is the successor of IDFC Ltd's banking business. Following the transformation of IDFC Limited into a bank, IDFC Bank was established in November 2015. In December 2018, the IDFC Bank and Capital First (a successful consumer and MSME financing institution) merged, and subsequently renamed IDFC First Bank.
Secure and reliable banking
IDFC FIRST Bank keeps your account secure by implementing initiatives such as two-step authentication, chip and pin security for debit cards, and OTP verification.
There are 16 analysts who have initiated coverage on IDFC First Bank. There are 6 analysts who have given it a strong buy rating & 2 analysts have given it a buy rating. 2 analysts have given the stock a sell rating. The company posted a net profit of 732.09 Crores in its last quarter.
Q: What is the highest FD rate in IDFC Bank? A. The highest fixed deposit interest rate in IDFC Bank is 8.00% p.a. for a tenure of 500 days. Q.
