North India Statesman
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News India Live, Digital Desk: We Indians like ‘Safety’ the most when it comes to our money. Even though the returns in the stock market or mutual funds are high, even today a common Indian does not have any peace of mind. Fixed Deposit That means it is available in FD only. I sleep peacefully at night knowing that the money is safe and I will definitely get interest.
If you also have some money lying in your savings account in the bank, where it is earning only nominal interest, then this news is very useful for you. Presently there are many such banks in the market which offer loans on FD to attract customers. Very high interest rate Are giving.
Let us understand in simple language where you should invest your money.
Small banks are giving big profits
Often we run only towards big public sector banks (like SBI or PNB). There is no harm in this, but if you want more profits, then you Small Finance Banks Should look towards.
According to reports, some banks like Unity Small Finance Bank And North East Small Finance Bank We are offering our customers up to 9% annual interest on FD.
Yes, 9% means your money will grow very fast. especially if you 1001 days Or 3 year If you choose tenure, the interest rate is highest.
It’s like a lottery for the elderly (Senior Citizens Benefits)
If you have any parents or grandparents in your house who are above 60 years of age, then this occasion is even more special. Banks always give priority to senior citizens as compared to ordinary citizens. 0.50% to 0.75% higher interest Let’s give.
Some small finance banks to the elderly 9.50% Are giving returns up to. That is, if you have made an FD in his name, then consider that it is a big deal!
Are the big banks lagging behind?
It is not that big banks are not in the race. HDFC, ICICI and Axis Bank are also offering interest between 7% to 7.50%. This is perfect for those who do not want to take any risk and do not mind 1-2% less interest.
Are small finance banks safe?
Now a question will come in your mind, friend, the interest is high, but will the money not be lost?
So the answer is – don’t panic. As per RBI rules, deposits in any bank in India (even if it is a small finance bank) Amount up to Rs 5 lakh is completely insured. it occurs. this guarantee DICGC Gives.
So you can feel free to invest up to Rs 5 lakh in these banks and enjoy higher returns.
My advice:
Diversify your portfolio. Earn higher returns by keeping some money in big government banks and some money in these small finance banks. Visit your bank branch or check net banking today, don’t miss the opportunity!
