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High fixed deposit rates

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mkm.shadow385
How so high fixed deposit rates are even possible? Is it even safe? I know it is DICGC insured but still.
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Hotshot Hotshot
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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.

Deal Lieutenant Deal Lieutenant
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hmmm but FD is best choice for safety looking people:)

not every one can enjoy or withstand the volatility of MF :)

Deal Lieutenant Deal Lieutenant
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Poor villagers who dont know about finance is getting tricked ah? with 20% interest rate 

Deal Lieutenant Deal Lieutenant
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@DEEPANGEORGE Not tricked bro they are aware of everything. 
Even people take loan from rich people @ 4-5 rs per 100 per month . Means 60% yearly interest rate.
Deal Lieutenant Deal Lieutenant
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Poor villagers who dont know about finance is getting tricked ah? with 20% interest rate 

Mobile Guru Mobile Guru
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@DEEPANGEORGE educated people pay 36% interest on credit card dues cz they forget to pay in right time so 20% is not bad
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Deal Lieutenant Deal Lieutenant
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Dont know how safe it is . But yes it is possible because these small finance banks are giving loans in small villages @ 15-20 % annum. So they can afford such interest rates. 

Deal Lieutenant Deal Lieutenant
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Poor villagers who dont know about finance is getting tricked ah? with 20% interest rate 

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Hotshot Hotshot
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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.

Deal Lieutenant Deal Lieutenant
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hmmm but FD is best choice for safety looking people:)

not every one can enjoy or withstand the volatility of MF :)

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Deal Lieutenant Deal Lieutenant
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which app you are seeing this? stable money?

Deal Lieutenant Deal Lieutenant
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yes stable money found it, unity bank is not live yet.
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Finance Mentor Finance Mentor
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Bandhan Bank (full service proper nationalized bank) offers 8% and 8.5% for senior citizens, a much better and less riskier bet...

Deal Lieutenant Deal Lieutenant
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small banks fd are insured upto 5L so no difference in bandhan or unity

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Crowdpuller Crowdpuller
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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...

Helpful Helpful
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I think even the interest earned on principle amount is secured in that 5 lakh limit. 

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Deal Subedar Deal Subedar
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Better than north east bank. Check for crisil ratings/report for understanding risk.

Deal Subedar Deal Subedar
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It is 5 lakh per bank per pan card. So if you have more than 1 pan then you are again covered for another 5 lakh.

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