9.5% FD Rate: 9.5% interest is available on FD here, no need to open a bank account.

 

Money Making Tips: If you want to earn good profits by investing in FD, then you can book FD through some of the apps given below and earn interest up to 9.5 percent.

Money Making Tips: RBI’s Monetary Policy Committee, which takes decisions on policy interest rates i.e. repo rate, had a meeting recently. It was announced that the repo rate has been cut by 0.25 percent. RBI has cut the repo rate after 5 years. With this decision of the Reserve Bank (RBI), people will get some relief in loan EMI. Along with this, the interest rates of bank FD will also be reduced. In such a situation, if you want to invest in fixed deposit (FD), then do it as soon as possible.

If you want to earn good profit by investing in FD, then you can book FD through some of the apps given below and earn up to 9.5 percent interest. The special thing is that on booking FD through these apps, you will not have to open an account in the concerned bank. But you may have to do KYC.

FD through Stable Money app (up to 9.5% interest)

• Unity Small Finance Bank – 9.5 percent interest (1001 day FD)
• Shivalik Small Finance Bank – 9.3 percent interest (1 year 5 months 25 days FD)
• Suryoday Small Finance Bank – 9.1 percent interest (5 year FD)
• Utkarsh Finance Bank – 9.1 percent interest (2 year FD)
• North-East Small Finance Bank – 9 percent interest (3 year FD)

FD through Super.Money app (up to 9.3% interest)

You can easily book FD through Super.Money, an app owned by Flipkart. You can also make UPI payments through this app. According to the list of banks listed on the app, you can earn up to 9.3 percent interest here.

• Shivalik Small Finance Bank – 9.3 percent interest (1 year 6 months FD)
• Suryaoday Small Finance Bank – 9.1 percent interest (5 years FD)
• Utkarsh Finance Bank – 9.1 percent interest (2 years FD)
• North-East Small Finance Bank – 9 percent interest (3 years FD)
• South Indian Bank – 7.9 percent interest (1 year 7 months FD)

FD through Tata Neu App (up to 9.1% interest)

Suryoday Small Finance Bank – 9.1% interest (5-year FD)

Up to Rs 5 lakh is safe if the bank collapses

The only relief available to the depositor in case of bank collapse or bankruptcy is the insurance cover provided by the Deposit Insurance and Credit Guarantee Corporation (DICGC). Insurance cover under DICGC is up to Rs 5 lakh. No matter how much money is deposited in all your accounts in the same bank, you will get an insurance cover of only Rs 5 lakh. This amount includes both the principal and the interest amount. DICGC’s deposit insurance covers all insured commercial banks including LABs, PBs, SFBs, RRBs and co-operative banks.