Question: Is FD Safe In IndusInd Bank?

What is the problem with IndusInd Bank?

“IndusInd Bank’s non-performing loan risks have risen in the past six months,” UBS Group AG analysts led by Vishal Goyal wrote in a recent note.

They said about 30 per cent of IndusInd’s loan book is facing headwinds and also 4 per cent of total exposure could turn sour in the next 15 months..

Is IndusInd Bank covered under Dicgc?

Your deposits with IndusInd Bank are insured for up to Rs 5 Lakhs by the DICGC (Deposit Insurance and Credit Guarantee Corporation of India, a wholly owned subsidiary of the Reserve Bank of India).

Which is better Bank FD or Post Office FD?

Five-year post office deposit is offering 6.7 per cent whereas SBI’s five-year FD is offering 5.40 per cent. … The effective interest rate for senior citizen bank FDs is as follows: SBI one-year FD is 5.40 per cent, HDFC Bank one-year FD is 5.60 per cent and ICICI Bank one-year FD is 5.50 per cent.

Is Yes Bank FD 2020 Safe?

Account holders should know that deposits with Yes Bank are insured for up to Rs 5 lakh by the DICGC. DICGC insures all deposits such as savings, fixed, current, recurring, etc. except for a few such as inter-bank deposits, any amount due on account of and deposit received outside India, etc.

Which is the safest bank in India 2020?

List of Best, Safe Banks in India1) HDFC Bank. If market confidence is a measure of the soundness of a Bank, then HDFC Bank takes the cake. … 2) State Bank of India. … 3) ICICI Bank. … 4) AXIS Bank. … 7) Kotak Mahindra Bank, IndusInd Bank.

Which bank is FD safe?

To get the benefit of high rates, both SBI Bank and ICICI bank have a new FD scheme exclusively for senior citizens. The bank fixed deposits are becoming the first choice of depositors to keep their savings safe.

Can I break my fd online?

Closing a Fixed Deposit (FD) is a simple process and can be done online as well as by visiting the bank branch. You can close an FD before maturity and after maturity. The process of closing the FD by visiting the branch is same for most of the banks.

Will IndusInd bank survive?

IndusInd Bank Ltd has been the worst hit by the crisis. The bank’s stock dropped 15% on Tuesday after the lender revealed in an investor call that it has lost 10-11% of its deposits since Yes Bank Ltd crumbled earlier this year. … State governments no longer think it is safe to keep money in the private sector bank.

How can I break my FD in IndusInd Bank?

In order to close Indusind Bank Account FD account, the first step is to fill up an FD Account Closure Form. For this, you can visit your branch, get the FD account closure form and fill it up properly. After that you need to sign it and submit it to the branch manager/ officer-in-charge.

Can FD be done online?

Savings account holders of State Bank of India (SBI) can open a fixed deposit (FD) from anywhere through the bank’s online facility. You can also renew and close the FDs online instantly, once you open an FD online. So, there is no need to go to the bank for any of these purposes.

Who is owner of IndusInd Bank?

Hinduja GroupIndusInd Bank/Owners

Is IndusInd a good bank?

Indusind bank service is very good thats the reason i have taken the savings account with them. I need to maintain a minimum balance of Rs. 10000. Its very easy to access the Internet banking and mobile app facility.

Is IndusInd Bank Nationalised bank?

As mentioned in our other post, only the largest 14 private banks were nationalised through the act of Parliament in 1969. … New private sector banks – Axis Bank, Development Credit Bank, HDFC Bank, ICICI Bank, IndusInd Bank, Kotak Mahindra Bank, Yes Bank.

Which banks are covered under Dicgc?

Are all categories of banks eligible for such an insurance? DICGC covers depositors of all commercial banks and foreign banks operating in India, state, central and urban co-operative banks, local area banks and regional rural banks provided the bank with which the deposit is made has bought the cover from DICGC.