thinking of doing in indusind/idfc but for my father. 8.49/8.4 is really good.
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they are very small banks, parents don't agree.
IDFC & indusind are very close - 7.9 & 7.99
Are they really safe?
Bandhan Bank is the 6th largest private bank in India in terms of total Assets. That is bigger than IDFC (which is 9th largest). RBL Bank is 10th largest. At least they are safer than the small finance banks and NBFCs. Also each bank deposit is insured upto 5 lakh.
IndusInd is a good balanced option though in terms of both safety and good interest rates.
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Already parked 35L with 7 SFBs (5L in each SFB) till Nov 30 with quarterly interest payout. Currently I am holding 14 savings accounts in my name.
5L each in Unity @9% for 1001 days, Utkarsh @8.5% for 1500 days, Suryoday @8.6% for 1095 days, Ujjivan/Jana/Equitas @8.25% for 12Mon/1095 days/888 days respectively, AU @ 8% for 24 Months.
Till January, plan you FD investments as in Feb RBI MPC meeting interest rate cut is inevitable (still not 100% because other factors will tell) and banks will reduce their FD rates immediately next day.
5L each in Unity @9% for 1001 days, Utkarsh @8.5% for 1500 days, Suryoday @8.6% for 1095 days, Ujjivan/Jana/Equitas @8.25% for 12Mon/1095 days/888 days respectively, AU @ 8% for 24 Months.
Till January, plan you FD investments as in Feb RBI MPC meeting interest rate cut is inevitable (still not 100% because other factors will tell) and banks will reduce their FD rates immediately next day.
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Yeah both are good.
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Here is table for all Small Finance Bank and their highest RoI with terms as of Dec 8th, 2024.
| Bank Name | Term of Deposit (Maximum Term with Highest RoI) | RoI (for Below 60 yrs) | RoI Senior Citizens | Annualized Yield | Netbanking/App |
| AU Small Finance Bank | 12 Months | 8.00% | 8.50% | 8.24% / 8.77% for Sr. Citizens | Yes/Yes |
| Capital Small Finance Bank | 400 Days | 8.05% | 8.55% | 8.29% / 8.82% | Yes/Yes |
| ESAF Small Finance Bank | 2 Yrs to 3 Yrs | 8.25% | 8.75% | 8.50% / 9.04% | Yes/Yes |
| Equitas Small Finance Bank | 888 Days | 8.25% | 9.00% | 8.50% / 9.30% | Yes/Yes |
| Jana Small Finance Bank | 2 Yrs to 3 Yrs | 8.25% | 8.75% | 8.50% / 9.04% | Yes/Yes |
| North East Small Finance Bank | >= 1 Year to 2 Year | 8.50% | 9.00% | 8.77% / 9.30% | Yes/Yes |
| Shivalik Small Finance Bank | 18 Months to 24 Months | 8.55% | 9.05% | 8.82% / 9.36% | Yes.Yes |
| Suryoday Small Finance Bank | 15 Months to <= 2 Yrs >2 Yrs to 3 Yrs | 8.50% 8.60% | 9.00% 9.10% | 8.77% / 9.30% | Yes/Yes |
| Ujjivan Small Finance Bank | 365 Days or 12 Months | 8.25% | 8.75% | 8.50% / 9.04% | Yes/Yes |
| Unity Small Finance Bank | 1001 Days | 9.00% | 9.50% | 9.30% / 9.84% | No/Yes |
| Utkarsh Small Finance Bank | >= 2 Yrs to <= 3 Yrs 1500 Days | 8.50% 8.50% | 9.10% 9.10% | 8.77% / 9.41% 8.77% / 9.41% | Yes/Yes |
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Corporate FDs are giving upto 9.4% and if you go for MLD or NCD, annualized return will be more than 10% secured. You may contact us to know more. Thanks 🙏
CPI figures are never true and if RBI decides to rate cut then Govt will coushion it by showing fake CPI numbers just like they manipulated GDP figures for very long. Every Govt does it. While daily necessties prices have skyrocketed in last 6 months, CPI figures last time shown fake numbers again. While income is stagnant or not increasing at all, prices are going higher and that's not how economy works. This way most of higher middle class will slip to mid of middle class while mid-middle class will shift to lower middle class and doom for lower. People are getting poorer here at higher rate than other developing countries.
The recent DA hike of 3% is a peanut while atleast 4.3% was required to breakeven with price hikes. So from employees to pensioners aren't getting anything and then there are private companies who never believe in salary hikes according to inflation.
We are a poor nation with huge population to take care off. No matter what media shows, we have to live with the fact that India is a poor nation with Zero standard of living and 70% population living a hand to mouth life. Don't just look at 10% of developed cities in India. Look overall and you will find more than 70% people are living miserable lives.