What you say is true. Even if the PSU banks interest rates on FD/Savings account are abysmal people stick to it since capital is protected. I myself suffered when yes bank moratorium was imposed and all my life savings was frozen. So I understand why people are reluctant to put money in private banks.
However, IDFC First bank’s savings interest is quite good and they are the only one who credit the interest every month. This will be like drawing salary for anyone, esp a retired person with a good retirement lumpsum money deposited in SA.
(1cr in this savings account will get approx 50,000 per month credited as interest by the bank)
Disc: I’m not retired. I’m in early 40s.
| Subscribe To Our Free Newsletter |
