High fixed deposit rates
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Poor villagers who dont know about finance is getting tricked ah? with 20% interest rate
only do FD if you are above 55 years else mutual fund is best. In long run it can easily beat any fd. Keeping money in fd is a poor financial choice.
hmmm but FD is best choice for safety looking people:)
not every one can enjoy or withstand the volatility of MF :)
Bandhan Bank (full service proper nationalized bank) offers 8% and 8.5% for senior citizens, a much better and less riskier bet...
small banks fd are insured upto 5L so no difference in bandhan or unity
Whichever is DICGC insured is safe to invest, if your final amount including interest is less or equal to 5 lakh.
If thinking about worst case scenario, only issue which I think you may face, if before maturity of your FD, the stablemoney app get closed and you don't have any branches of UNITY nearby you. Maybe then you need to find any Unity branch and go and apply their to get your maturity amount.
But chance of happening all of these is very low...
I think even the interest earned on principle amount is secured in that 5 lakh limit.
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only do FD if you are above 55 years else mutual fund is best. In long run it can easily beat any fd. Keeping money in fd is a poor financial choice.
hmmm but FD is best choice for safety looking people:)
not every one can enjoy or withstand the volatility of MF :)
Poor villagers who dont know about finance is getting tricked ah? with 20% interest rate
Even people take loan from rich people @ 4-5 rs per 100 per month . Means 60% yearly interest rate.
Poor villagers who dont know about finance is getting tricked ah? with 20% interest rate