https://www.desidime.com/discussions/which-small-finance-bank-is-good?page=1#post_8272707
Equitas bank….5.5% on 5Lacs, 27500 yearly (3.5% on 0-1Lac, 6% on 1-5lacs)…They have partnered with Niyox…App is decent.
Which small finance bank is good?
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Which small finance bank is good in case one wants to park amount of more than 5L ?
While recommending pls share pros and cons.
https://www.desidime.com/discussions/which-small-finance-bank-is-good?page=1#post_8272812
Don’t go with Equitas, go with SBM, do two year fd for 7.3%, 1 year 7.1%. Although SBM is not a small finance Bank. It is full fledged Private bank(SBM INDIA PVT LTD) owned by State Bank of Mauritius. So it will not going to closed down like other small pvt bank.
https://www.desidime.com/discussions/which-small-finance-bank-is-good?page=1#post_8272968
bhopali91355 wrote:Don’t go with Equitas, go with SBM, do two year fd for 7.3%, 1 year 7.1%. Although SBM is not a small finance Bank. It is full fledged Private bank(SBM INDIA PVT LTD) owned by State Bank of Mauritius. So it will not going to closed down like other small pvt bank.
the flexibility in savings account we can’t get in FD, isn’t it?
https://www.desidime.com/discussions/which-small-finance-bank-is-good?page=1#post_8272987
bhopali91355 wrote:Don’t go with Equitas, go with SBM, do two year fd for 7.3%, 1 year 7.1%. Although SBM is not a small finance Bank. It is full fledged Private bank(SBM INDIA PVT LTD) owned by State Bank of Mauritius. So it will not going to closed down like other small pvt bank.
Is amount upto 5 lakhs is secured (insured) in sbm bank?
https://www.desidime.com/discussions/which-small-finance-bank-is-good?page=1#post_8273068
sbm only 6 branches!!
https://www.desidime.com/discussions/which-small-finance-bank-is-good?page=1#post_8273072
baaz4u2007 wrote:sbm only 6 branches!!
If branch is concern, please use your nearest Small finance bank ….. All problems solved. 
I have Ujjivan and niyo-equitas accounts, never been to branch …..
Infact, Ujjivan folks come home when there is a need or even festivals … Being high value customers.
https://www.desidime.com/discussions/which-small-finance-bank-is-good?page=1#post_8273098
https://www.desidime.com/discussions/which-small-finance-bank-is-good?page=1#post_8273122
chotabaxxa800 wrote:@Manitian @kshmr How to open SBD account online for the 7% interest rate ?
Call their CC. No info on this.
https://www.desidime.com/discussions/which-small-finance-bank-is-good?page=1#post_8273130
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Manitian wrote:If branch is concern, please use your nearest Small finance bank ….. All problems solved.
I have Ujjivan and niyo-equitas accounts, never been to branch …..
Infact, Ujjivan folks come home when there is a need or even festivals … Being high value customers.
Ujjivan FD rates? And how is the App?
https://www.desidime.com/discussions/which-small-finance-bank-is-good?page=1#post_8276475
Anybody having equitas elite account?
https://www.desidime.com/discussions/which-small-finance-bank-is-good?page=1#post_8276497
dhinchakrohit wrote:Anybody having equitas elite account?
Hold Normal Equitas account
https://www.desidime.com/discussions/which-small-finance-bank-is-good?page=1#post_8380014
bhopali91355 wrote:Don’t go with Equitas, go with SBM, do two year fd for 7.3%, 1 year 7.1%. Although SBM is not a small finance Bank. It is full fledged Private bank(SBM INDIA PVT LTD) owned by State Bank of Mauritius. So it will not going to closed down like other small pvt bank.
Seems SBM has reduced their interest rates like all other banks
Also they have branches in only 6 cities & not allowing to open accounts or creating an FD from other cities…So, not applicable for me…
https://www.desidime.com/discussions/which-small-finance-bank-is-good?page=1#post_8380115
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Sushrut.B wrote:Seems SBM has reduced their interest rates like all other banks
Also they have branches in only 6 cities & not allowing to open accounts or creating an FD from other cities…So, not applicable for me…
You can use vested , they open a zero bal account with SBM
Check if they allow FD there
https://www.desidime.com/discussions/which-small-finance-bank-is-good?page=1#post_8380139
au
https://www.desidime.com/discussions/which-small-finance-bank-is-good?page=1#post_8380170
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EkdamSastaRaju wrote:You can use vested , they open a zero bal account with SBM
Check if they allow FD there
Vested is an investment platform? I am not into investing actually…
https://www.desidime.com/discussions/which-small-finance-bank-is-good?page=1#post_8380176
Novizio wrote:au
AU asking to visit one of their branches…
They have branches in my city but about 2 hours traveling & they told me that I need to visit their branch to open an account at the last stage of online account creation process & after selecting the preferred branch…
https://www.desidime.com/discussions/which-small-finance-bank-is-good?page=1#post_8380603
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Sushrut.B wrote:AU asking to visit one of their branches…
They have branches in my city but about 2 hours traveling & they told me that I need to visit their branch to open an account at the last stage of online account creation process & after selecting the preferred branch…
but their online facilities are goood n they r paying 7% on saving (25lac + balance)n monthly interest credit
https://www.desidime.com/discussions/which-small-finance-bank-is-good?page=1#post_8381208
https://www.desidime.com/discussions/which-small-finance-bank-is-good?page=1#post_8381770
dhinchakrohit wrote:Anybody having equitas elite account?
Yes.
https://www.desidime.com/discussions/which-small-finance-bank-is-good?page=1#post_8381845
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Sushrut.B wrote:AU asking to visit one of their branches…
They have branches in my city but about 2 hours traveling & they told me that I need to visit their branch to open an account at the last stage of online account creation process & after selecting the preferred branch…
I opened AU Savings account, last month, completely online!
No need to visit branch
https://www.desidime.com/discussions/which-small-finance-bank-is-good?page=1#post_8381847
Highest saving bank interest rate currently? Ujjivan?
https://www.desidime.com/discussions/which-small-finance-bank-is-good?page=1#post_8381867
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mGforCe wrote:I opened AU Savings account, last month, completely online!
No need to visit branch
They told me my location is far away from their branches so I will have to visit one of their branches…I talked to multiple AU agents & on video calls also, they mentioned the same…So, I will have to wait until they open a branch in the serviceable distance…
I asked them if it’s possible to send a representative to my home for account opening but they said they don’t offer that facility…
https://www.desidime.com/discussions/which-small-finance-bank-is-good?page=1#post_8381871
parveenkk wrote:Highest saving bank interest rate currently? Ujjivan?
| Amount | Interest Rate (p.a.) |
|---|---|
| Up to 1 lakh | 3.50% |
| > 1 Lakh to 25 Lakhs | 7.00% |
| > 25 lakhs to 10 Crores | 6.00% |
| > 10 crores | 6.75% |
I’ll most probably be doing an FD with monthly payout for 1 year after my KYC is done…
https://www.desidime.com/discussions/which-small-finance-bank-is-good?page=1#post_8381874
https://www.desidime.com/discussions/which-small-finance-bank-is-good?page=1#post_8381896
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parveenkk wrote:Ujjivan?
But don’t put more than 5L in any of these banks as some people may do this mistake of parking all their amounts in a single bank for high interests…We can only get 5L back if something goes wrong with the bank…
So, distribute your savings among these banks so that it doesn’t exceed 5L in each bank…
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