Is IDFC first bank safe investment?

Is my money safe in IDFC First Bank?

9,594 crore as on June 30, 2019. The various other positive aspects include high growth in net interest margins and improved cost to income ratio. The second aspect to note is that the deposits are AAA rated by CRISIL, which is the highest level of safety.

Is IDFC first bank good for long term investment?

and IDFC First have done pretty well in the recent past. The asset quality has been improving. … They have also raised capital a few months back and the asset quality has been improving. If you have a long-term view, you should go and buy into these banks.

Is IDFC Bank covered under Dicgc?

Safety of IDFC First Bank Deposits : IDFC First Bank deposits are covered under the Deposit Insurance Scheme of RBI in which up to ₹ 5 lakh of all deposits of a depositor are insured by DICGC.

Why IDFC First Bank is in loss?

Asset quality of the bank has deteriorated both sequentially and YoY, indicating the stress due to covid. … Gross NPAs rose to 4.61 per cent, up 46 basis points (bps) sequentially and 262 bps on a YoY basis.

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What is the rating of IDFC First Bank?

IDFC First Bank announced that ICRA has re-affirmed the rating of Bank’s NCDs (Rs. 27,691.84 crore) at ‘[ICRA] AA’ with ‘Stable’ outlook and have re-affirmed ([ICRA] AA) & withdrawn the rating assigned to Rs. 4,906.89 crore NCDs due to its payment (NIL outstanding) by the Bank.

Which is better IDFC or HDFC?

Which is a better bank for Home Loan – HDFC or IDFC First Bank? HDFC offers lower Home Loan EMI at ₹ 645 on a Home Loan for 30 Years as compared to IDFC First Bank with a minimum EMI of ₹ 659 for 30 Years. Average customer ratings for HDFC is currently at 4.5/5.0 which makes it a good choice for taking a Home Loan.

Is IDFC share good to buy?

Is IDFC a good long term investment? Past 10 years financial track record analysis and assessment of future prospects by Moneyworks4me indicates that IDFC Ltd is an average long term investment. However, you need to ensure you buy at a right price to earn good returns.

Can I open PPF account online in IDFC First Bank?

Online account opening

The application form can be filled up online itself and submitted to the bank along with your KYC documents. The first deposit to open the PPF Account can also be paid online along with the application.

What is FD rate in IDFC First Bank?

IDFC First Bank Term Deposit Rates (Less than Rs. 2 Crore)

Tenure For General Citizens (p.a.) For Senior Citizens (p.a.)
91 – 180 days 4.50% 5.00%
181 days to less than 1 year 5.25% 5.75%
1 year to 2 years 5.50% 6.00%
2 years 1 day to 3 years 5.75% 6.25%
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Is IDFC bank insured?

Insurance Cover for Deposits

All bank deposits are covered under the insurance scheme offered by Deposit Insurance and Credit Guarantee Corporation of India (DICGC) subject to certain limits and conditions. The details of the insurance cover in force will be made available to the depositor.

How much money in bank is safe?

Your investment in a bank is insured under the Deposit Insurance and Credit Guarantee Corporation (DICGC) scheme, which covers your deposits up to Rs. 1 lakh for both principal and interest amount held in the same capacity and same right. So, even if the bank you have an FD in goes insolvent, your money would be safe.