As RBI Keeps cutting the interest rates , Fd rates are quite low in all popular banks …
i want know that are small finance banks like au small finance , and ujjivan are safe for Fixed deposit … do they come under that reliability of 5 lakh coverage of DICGC as like other banks ???
No they are nbfc categories. They dont have banking license. Hence they are not under insurance cover
Despite the high rates, many investors may think that small finance banks are not safe for making investments. … Depositors in these banks are also insured up to a maximum of Rs 5 lakh for both principal and interest amount held by them. So, even if banks get liquidated, investors’ deposits up to Rs 5 lakh are safe.