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Utkarsh Small Finance Bank to merge with parent company
- Thread starter HEHE
- Start date
shrewdoc
TF Legend
According to the article you shared,
So what I infer is, UCL is merging into USFBL; just like HDFC did with HDFC Bank.
no.. it will remain a bank.. no one will give up a banking license... it will just be structural.. so it may actually become better...
Its reverse merger. USFB will continue to work while UCL will cease to exist. 🙂 Have you FD with them without worries @8.5 or 9.1%(Senior Citizen). Suryoday/Unity has the highest RoI @8.65/9 for non- Sr citizens like us.
Better open Savings account rather than just keeping FD. Don't go throguh third party route of creating FD like with wintwealth, Airtel Thanks, Bajapay etc or other NBFC. Always have direct relation with bank.
Utkarsh allows online opening of acc. via vKYC and takes only 1 day to fully activate. Initial funding Rs.5000 for classic savings and only UPI can be used to fund it. I personally visited nearest branch for acc. So open a one for yourself. Tfr fund from other acc. and create FD.
Better open Savings account rather than just keeping FD. Don't go throguh third party route of creating FD like with wintwealth, Airtel Thanks, Bajapay etc or other NBFC. Always have direct relation with bank.
Utkarsh allows online opening of acc. via vKYC and takes only 1 day to fully activate. Initial funding Rs.5000 for classic savings and only UPI can be used to fund it. I personally visited nearest branch for acc. So open a one for yourself. Tfr fund from other acc. and create FD.
third parties are just an aggregator, the actual KYC is still done by end bank. its just a API integration with third parties, nothing wrong in using them if you just want to open a FD.
Yeah nothing wrong but the data you provide to third party aggregators is used in many ways by them and anazlyse you and your patterns in future and RBI has no control over TPAs while banks have to follow strict rules when it comes to customer data. Moreover banks also get illegal access to your data and FDs with other banks. For e.g- You use stablemoney for opening Unity and Utkarsh FD. Now both banks have tie-up and can ask stablemoney to share data and then they create product and start spaming you over email. With direct bank accounts I never seen such nuisance. So my route will never be through Third Party data stealers.
These TPAs are selling corporate FDs too which aren't covered under DICGC but many people think they are because on one page they read about bank FDs and just below that a corporate FD. We are aware set of people so won't fall for things but most of gen Z as I always says are gone case. Just to save few hours of not going to bank, they risk their coming future.
Also corporate FD's have different compounding formula, Bajaj has yearly compounding which reduces the overall return.
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