indusind bank feedback

[pranavcool]

how is indusind bank for huge fd's , any chances of bankruptcy how is indusind bank doing nowadays, plz suggest good fd bank indusind is giving 6.5 for 3y which is safer than small finance bank it seems

 

[AllSeeker]

Up to 5 lacs even if bank went bust it should be fine.

 

[StanRoute66]

how is indusind bank for huge fd's , any chances of bankruptcy how is indusind bank doing nowadays, plz suggest good fd bank indusind is giving 6.5 for 3y which is safer than small finance bank it seems

for Huge FD , Go with IDFC First Bank as it's Top management is Trustworthy , running good with the financials with Low NPA Figures and it offers great Interest Rates as well .

 

[Souvik]

I agree with @StanRoute66 IDFC is the best option right now, in fact I opened a savings account online there last month, trying to upgrade it to wealth now. It has good interest rates and since its new you can have a say compared to the old ones.

As far as IndusInd is concerned, its operations are relatively less and I would not be surprised if one day I hear it going the other way. And that 5 Lac assurance and all, its good to know, but when a bank goes upside down at first withdrawals would be limited to 10k per month or so (example cited check history). So though you have an assurance of 5L only if the bank goes down under, chances of government letting it go bust is less, and there would be a long period when your money would be stuck/lock-in and you may not be able to withdraw, so you should exercise caution when shifting to smaller entities.