dvader
TF Ace
Here is how the commission goes
1. Safe, regulated, and good products for customers: Zero, minimal, or even discouraged. Honestly, this practice came to India from big MBA graduates from the USA. They studied in the USA when banking was getting unregulated, once the USA was burned to the ground in 2008, these students came back to India and we were flooded with ULIPs, Insurance, Guaranteed Income plans, etc.
2. Insurance, ULIPs, Trash, Scams, Partial Scams, Terms and Conditions Gotchas: A shit load of commission
Still, there are a few banks in India where the management policy is to push for safe products and they at least give non-zero incentives for that. So if you have some disposable income no harm in making short-term FDs to beat the inflation (just don't get it in your name or the interest will be taxable).
1. Safe, regulated, and good products for customers: Zero, minimal, or even discouraged. Honestly, this practice came to India from big MBA graduates from the USA. They studied in the USA when banking was getting unregulated, once the USA was burned to the ground in 2008, these students came back to India and we were flooded with ULIPs, Insurance, Guaranteed Income plans, etc.
2. Insurance, ULIPs, Trash, Scams, Partial Scams, Terms and Conditions Gotchas: A shit load of commission
Still, there are a few banks in India where the management policy is to push for safe products and they at least give non-zero incentives for that. So if you have some disposable income no harm in making short-term FDs to beat the inflation (just don't get it in your name or the interest will be taxable).