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Could experts share their views on Jana small finance bank for Fixed deposit ? Thanks
we thought of opening saving account and later if we dont want, we could close it. but closing charges are too high 500rs

Please also share your views on DCB Bank for Fixed deposit. thanks
 
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travi

Well-Known Member
Could experts share their views on Jana small finance bank for Fixed deposit ? Thanks
we thought of opening saving account and later if we dont want, we could close it. but closing charges are too high 500rs

Please also share your views on DCB Bank for Fixed deposit. thanks
Couple of years ago you were pursuing LVB(Laxmi Villas) and my thought was to keep funds at slightly lower rate but in a stable bank like SBI.
Last year LVB had serious issues and ppl panicked and some would've had heart-aches too.

My stance remains unchanged, dont chase 0.5-0.75% for peace of mind & risk associated.

These guys who lure ppl with that extra % always have something cooking that we dont know like yesbank did.
 
Couple of years ago you were pursuing LVB(Laxmi Villas) and my thought was to keep funds at slightly lower rate but in a stable bank like SBI.
Last year LVB had serious issues and ppl panicked and some would've had heart-aches too.

My stance remains unchanged, dont chase 0.5-0.75% for peace of mind & risk associated.

These guys who lure ppl with that extra % always have something cooking that we dont know like yesbank did.
Yeah, risk in debt, esp credit risk, does not make much sense to me. Not much payoff and too much risk when things go bad.
Much better to keep risk in trading/investing and look for safety in debt. Short term gilt probably would be best place to keep capital, but mutual funds seemed to have stopped this category ...
 

brokenbull

Well-Known Member
1) I still have sizeable FD in LVB (now DBS) maturing in july. wont renew as their new interest rates have come down. They are crediting quarterly interest regularly.Did not sweat last Nov during 1-2 week suspense before RBI selling them to DBS.
2) I do bank (+senoir citizen FD) with Indusind bank ,Equitas Small Finance bank ,DCB bank ,Karnataka Bank,South Indian Bank,Federal Bank ,Karur vsya bank, City Union Bank (kumbakonam) etc . Dont keep more than 5 lakhs in any one bank.
3) planning to drop soon (Syndicate )Canara, Central,& open new sb accounts (FD) in IDFC, Bandhan & RBL
4) never invested in debt funds. Eiether Risk On (Stock ) (no mutual funds)or Risk off {bank FD (but diversified)}
 
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brokenbull

Well-Known Member
DCB is ok. banking with them for 1 year.
have visited them only for a/c opening all activities (including opening FD ) via desktop web online banking (I dont use app)
Since I invest a very small % of my networth with any one bank -from that point of view DCB is ok. (in a diversified portofolio risk is acceptable)
You can not put all /most of your money in high interest paying banks.Risky
 

travi

Well-Known Member
2) I do bank (+senoir citizen FD) with Indusind bank ,Equitas Small Finance bank ,DCB bank ,Karnataka Bank,South Indian Bank,Federal Bank ,Karur vsya bank, City Union Bank (kumbakonam) etc . Dont keep more than 5 lakhs in any one bank.
3) planning to drop soon (Syndicate )Canara, Central,& open new sb accounts (FD) in IDFC, Bandhan & RBL
on a lighter note, wonder how ur portf looks like :D
i've had only SBI / hdfcbank for 2 decades and i've never had to worry.
 
LVB -Bank is charging for RTGS online transaction. Is it violation of RBI instruction to Banks? To push digital transactions few months banks RBI had announced that there wont be any changres for NEFT and RTGS online transactions. But LVB is still charging, Should RBI know about it?
 

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