Online fd

[palan]

I have seen too many YouTuber is promoting "STABLE MONEY" app for online fd's.
Can we trust this online portal app.
Or is there any hidden term .
Please reply if anyone invest through stable money

 

[Skylar]

Check out reviews on google play store, People facing a lot trouble with Stable Money app. Youtubers get money to promote they'll everything is good with it.

 

[palan]

Check out reviews on google play store, People facing a lot trouble with Stable Money app. Youtubers get money to promote they'll everything is good with it.

Ok
Then what are the next option to in fd in small finance bank

 

[Skylar]

Ok
Then what are the next option to in fd in small finance bank

I don't trust small finance banks; they aren't transparent with the terms and conditions.
It's better to go with PSU or top private banks.

 

[palan]

I don't trust small finance banks; they aren't transparent with the terms and conditions.
It's better to go with PSU or top private banks.

Please suggest me something for my emergency fund??

 

[Skylar]

@launchcraft

 

[launchcraft]

Please suggest me something for my emergency fund??

invest in liquid funds or index funds...don't go for FDs they are not that useful that you think..
For emergency funds you should always invest in something which can be easily converted into cash be it shares of the company or the money in savings account other than the primary account..

 

[Gajendrakumar]

Ok
Then what are the next option to in fd in small finance bank

Small finance Banks are similar to Scheduled commercial banks and Private Banks in terms of security for FD. It is also approved by DICGC. They will give guarantee for your deposit upto 5 Lakh. Even you will get more interest than other two.

No difference either small finance bank or PSB or private bank. People are familiar with PSB/ Private bank because of past history.

Sooner they will get for international license. Many people reluctant to invest /deposit money in small finance bank because of their prefix SMALL, that will be removed very soon.