How safe is your Bank Fixed Deposit?

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• Public sector Bank PSB are quite safe than private. PSB are having reasonable charges as compare to private.
  Private bank attract customers by giving bla bla bla offers but they mostly fake or charge up money.
  Also private banks give high fd interest rates as compare psb along with better services which harldy find in PSB.
  so people attract toward private.

  the top best PSB banks with good fd rates plus service:

  1. PUNJAB SIND BANK
  2. BANK OF BARODA
  3. BANK OF INDIA
  4. PNB
  5. HDFC

  • HDFC bank is private sector bank - all others are PSBs. Also most FDs can be done online if you have account with the bank, so personal interaction is very limited these days.

• which bank is safest for FD Axis bank or Bandhan Bank

  • Axis bank

• Which one is more safer...SBI or United Bank of India for FD of more than 50 Lacs and why?

  • SBI and UBI both are owned by Government of India and so it would not let these banks to default on your deposits. But considering the worst case scenario if the government has to choose which one to let default - SBI or UBI. It would save SBI as this is the biggest bank in India and if it goes belly up it would be almost like economy breakdown of India. And a big bank default would almost kill entire banking system of the country.

    This is the reason why even in 2008 financial crisis, Citibank even though private entity was saved by public money (USA) as these are "too big too fails" banks.

• I have some deposits with Dhanalkshmi bank ltd, also have some money in my savings NRE, as there are some news coming about the profitability and management issues is it safe to continue operations with them or to swap to another bank.

  • I don't think you should panic right now. The issue is across lot of banks. You should keep a close watch though.

• I want to open fd Rs 7 lak which bank is best. In today's conditions

  • Go with any large private bank or government bank - they are the safest. If you want high interest rates - RBL is good choice.

• i want 4lakhs fd my wife house wife

  • Please go ahead and choose the best FD rates as of today.

• Want to open FD of 12 Lakhs in DHFL (offering 9.1 % for woman) for 14 months ? Is it Safe ? I have an account in PNB and they are offering 7.5%. FD would be done in name of my wife. She has PAN card and she is not- working. I think there should not be any issue of tax. Which one to choose ? IS DHFL trustable ?

  • DHFL has AAA credit rating which is the best rating possible. So your investment (especially short-term) is perfectly safe.

    Since your wife is non-working, the interest earned would be added to your income and taxed accordingly.

• Can I open FD of 25 lacks in India post

  • Yes there is no maximum limit for Post Office Fixed Deposit Account, so you can open FD of Rs 25 Lakhs with them.

• I want to do FD of 25 lacks on RBL or Greater which banks is the safe and greater bank I m already having few fds..both are giving 9% rate let me know please..

  • As of today RBL is safe and is regulated by RBI. But if you make any huge deposit in any bank you should keep your eyes and ears open for any news [not rumors] which is impacting the bank.

• I want to invest 6 lacs in FD. As u mentioned that fd upto 1 lacs is insured. Can I reduce my risk by going for 6 FDs of 1 lac each in same branch?

  • The insurance on bank deposit is across all branches of bank and across all your deposits. So if you invest Rs 50K each in 3 branches of the bank, still your insurance coverage is Rs 1 lakh.

    There are two options to it:
    1. You can choose 6 different banks or
    2. If you want to use the same bank get account in your name, joint name, etc. So account in Puneet name, Puneet + wife name, wife + Puneet are considered different for deposit insurance. If you use above 3 combinations - you get 3 lakhs insurance, 1 lakh for each 3 entities.