i was wondering how idfc bank is able to pay 7 per cent interest on savings and if it is sustainable. it is as good if not better than fd rates of many other banks. i remember a few yrs ago a lot of people parked money in yes bank for this same reason when it was offering attractive interest rates.Just trying to understand why everybody is singing praises on HDFC or SBI or ICICI
Fact remains that all are working for profits to their investors and making huge one in there.... they will lend at 8% but pay not even 3% on savings account....... Ethics and business don't go together .. TATAS included...
My Organization is churning out record profits but when its time to pay employees their legitimate dues.. they Swallow fevicol....I have seen SVP's fighting over even 2 $ of expenses to train employees....
Let us park it there.... No bank is safe ...when it will be about time, SBI / HDFC will be the first one to go out sinking us all...
Stupid thing about SBI is that politicians use to fund any tom dick and harry ... ICICI 's Own CEO was in bed with videocon guy ... I am sure HDFC too have skeletons ... just that we dont know...
until there is sufficient evidence that the whole system is clean it may not be such a bad idea to park some money in post office savings, they are safer than many banks.