[vDragon3]

For NRI which is the best bank to have a NRE and NRO account in terms of customer service? Looking to open an account for my sister who is residing in Canada.

[gpbs11]

Originally Posted by Vikalp

Need to open a SSY account for my daughter, need suggestions in which bank should I open it?
Anyone with an account in IPPB (Indian Post Payment Bank) or SSY account in post office? Can the balance be viewed online and can the amount be transferred online to the SSY account opened with IPPB?

Thanks.

Last year when I wanted to open a SSY I had enquired and found that you could do online transfer to SSY account from your IIPB account.But viewing SSY account balance online wasn't possible.Later I had opened in SBI since my wife had a savings account in SBI and I didn't want to open a IPPB account specifically for SSB.Hope this helps.

[gpbs11]

I have presently NRE account in Axis bank ,but thier customer service is pathetic. They had blocked my account saying yearly Kyc was incomplete inspite of providing them all documents despite my relationship with them for more than a decade. Absolutely no response from RM and even the BM. So please suggest banks to open NRE account with good customer care and decent internet/phone banking.
Thanks

[Sukanta73]

Axis bank netbanking is pathetic for NRI. As every time OTP will come to Indian registered mobile. How can someone access the Indian number in abroad? So I close the account after 3 months.

I am having account in IDBI since 9 years, so far great experience. Always available in WhatsApp.

But the main thing is not the branch, bank staff is most important.

[Vikalp]

Originally Posted by gpbs11

Last year when I wanted to open a SSY I had enquired and found that you could do online transfer to SSY account from your IIPB account.But viewing SSY account balance online wasn't possible.Later I had opened in SBI since my wife had a savings account in SBI and I didn't want to open a IPPB account specifically for SSB.Hope this helps.

Thanks. I have SBI savings account, but for opening SSY account they want kid's Adhaar card, and I don't want to take her to crowded places in these times just to make Adhaar card, so wanted to know about IPPB as it doesn't require kid's Adhaar card.

[gpbs11]

Originally Posted by Vikalp

Thanks. I have SBI savings account, but for opening SSY account they want kid's Adhaar card, and I don't want to take her to crowded places in these times just to make Adhaar card, so wanted to know about IPPB as it doesn't require kid's Adhaar card.

Yeah SBI asked for aadhar card and even passport photo for my 1 year old child!

[sukhoi]

Hello,

Seeking suggestions on banks which offer good interest rates for Fixed Deposits, tenure between 1 year to 2 years and are safe / reliable.

My sister has some monies which she wants to invest in FDs and is a bit concerned about which bank to go with. SBI, while is a very safe bank (in my opinion) offers a slightly lower interest rate (5.1% IIRC). On the other end of the spectrum is IDFC First Bank which offers 7% for 500 day FD. ICICI, HDFC etc. fall somewhere in the middle of this range.
IDFC First FD Rates.

Which bank(s) do you prefer for FDs?

Originally Posted by prateekm

I can see ads across platforms for IDFC First Bank giving an interest rate of 7% on savings a/c with a balance above 1L+. Any advice on the bank's health?

This is also an interesting option, but I too have the same query, about the bank's health.

Regards,
S

[comfortablynumb]

Originally Posted by sukhoi

Which bank(s) do you prefer for FDs?

No idea about IDFC First Bank, but some FD options I have used in the past are HDFC (not HDFC Bank) and Canara Bank. They offer better interest rates than SBI and are relatively safe. If you are OK with co-operative banks, then Saraswat Bank is a decent option.

Edit: Just remembered, HDFC offers (or at least used to) 0.25% more over existing FD rate to HDFC shareholders. You just have to provide proof of your holding as of the FD opening date.

[sukhoi]

Originally Posted by comfortablynumb

No idea about IDFC First Bank, but some FD options I have used in the past are HDFC (not HDFC Bank) and Canara Bank. They offer better interest rates than SBI and are relatively safe. If you are OK with co-operative banks, then Saraswat Bank is a decent option.

Thanks a lot comfortablynumb for pointing me in the direction of HDFC. They seem to offer good interest rates and also allow for opening up the deposit online (Aadhaaar based KYC). If opened online, then they offer an extra 0.1% rate of interest. Will certainly check this out and probably go ahead with this one.

Regards,
S

[vrprabhu]

Originally Posted by sukhoi

... HDFC. They seem to offer good interest rates and also allow for opening up the deposit online (Aadhaaar based KYC). If opened online, then they offer an extra 0.1% rate of interest

I don't think RBI guidelines allow additional interest to be paid the way you have stated - interest rates for the same amount and same tenor must be equal for all customers (net banking or otherwise...). Please check and do inform.

[comfortablynumb]

Originally Posted by vrprabhu

I don't think RBI guidelines allow additional interest to be paid the way you have stated - interest rates for the same amount and same tenor must be equal for all customers (net banking or otherwise...). Please check and do inform.

Seems to be official, see point B in the image below.

[bejoy]

Folks, need an advice.

Need to open a Demat account for my wife. What is the best option to open a account online (not willing to step out at this time). She has ICICI SB/Salary account. They seem to have not given an option to open it online, though an existing account can be linked.

P.S. Not looking for a trading account.

Thanks in advance!

[Mr. Nobody]

Is it okay to make FDs in multiple banks ? Does it make your credit score weaker or something as with FD one will need to make an account as well.

[Fx14]

Originally Posted by comfortablynumb

Seems to be official, see point B in the image below.

Attachment 2051707

This is not a Bank FD, rather it is more like a company FD, where there are agents also appointed to source such FD's against a commission.

The additional interest offered to customers for direct placement through online channels is an enticer to bypass such agents and still reduce the sourcing cost for the company.

[vrprabhu]

Originally Posted by comfortablynumb

Seems to be official, see point B in the image

From the image, the logo is that of HDFC and not HDFC Bank.

Originally Posted by Fx14

This is not a Bank FD, rather it is more like a company FD

You are right, that is what it is - a fixed deposit offering by HDFC and not its banking counterpart.