IDFC bank reduces saving bank interest rates further

From 1st May , interest for saving bank accounts has been reduced further.

Now for amount upto 1 lac interest is 4% and from 1 -10 lac it is 4.5%

@goneo

That’s unfortunate. Seems like they will also settle at around 3.5% soon…

Yes @Alan_Abraham , but this was kind of expected as it was not sustainable at the time specially when loans are getting cheaper.
Home loans are now available from 6.70 to 7.50.

But yes, I was not expecting this change so soon.

Yea @goneo, neither me! Within 6 months they dropped to 4% from 7%. Though I believe they managed to acquire lot’s of customers by projecting 7% interest rate earlier.

1 Like

Time to go, it seems. Thank you Nio :sleepy: