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Small finance banks offer higher FD rates than commercial banks. Should you invest?

While bank fixed deposits has been one of the most popular savings instruments, small finance banks are luring retail investors with their lucrative FD rates. For instance, Jana Small Finance Bank is offering a rate of 9% on its 3 years FD and 8.50% for deposits for a 3-to-5-year tenure. On the other hand, India’s largest bank, SBI is offering a rate of 6.8% for deposits between tenures of 3 and 5 years and a rate of 6.85% for deposits over 5 years. It is a good idea to diversify and invest only a part of your savings in SFBs. 

Read More at Livemint News date : 9 Jan 2019, Wednesday

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