Is Equitas small finance bank safe for FD?

Is Equitas small finance bank safe for FD?

Is it safe to open a fixed deposit account with Equitas Small Finance Bank? Equitas Small Finance Bank is a licensed scheduled bank, i.e. legally registered with the Reserve Bank of India. All deposits made with the bank are covered by Rs. 5 lakh insurance by DICGC.

Is Equitas SFB safe?

“Equitas SFB offers attractive FD returns while being safe and reliable.” The SBF said as an RBI scheduled commercial bank, deposits in Equitas are covered by a deposit guarantee of up to Rs 5 lakhs per depositor.

Is Equitas bank approved by RBI?

After receiving license from the Reserve Bank of India (RBI) on 30 June 2016, Equitas Small Finance bank began banking on 5 September 2016. With effect from 4 February 2017, Equitas became a scheduled bank.

How good is Equitas bank?

Very Bad Place to work. Equitas is good organization for microfinance but not for Housing product, Uper management they only want to secure their job, they didn’t realise about ground level staff and their difficulty, never support any employee, Employee Turn over Ratio is very high.

Is Equitas bank an NBFC?

Equitas Small Finance Bank Limited formerly Equitas Finance Limited (EFL) commenced operations as a Small Finance Bank (SFB) on 5 September 2016. Prior to commencement of operations as a bank EFL a wholly owned subsidiary of EHL operated as an NBFC. The bank’s lending business is divided into 5 segments viz.

Is Equitas bank is Nationalised?

After receiving license from the Reserve Bank of India (RBI) on 30 June 2016, Equitas Small Finance bank began banking on 5 September 2016. With effect from 4 February 2017, Equitas became a scheduled bank. The bank became a public company via an initial public offering (IPO) in October 2020.

Who is the owner of Equitas bank?

Equitas Holding
Equitas Small Finance Bank/Parent organizations

How many branches does Equitas Bank have?

Equitas Small Finance Bank has 848 branches in following state(s) of India.

Is Equitas and fincare small finance bank safe?

This is not to say that Equitas and Fincare are not safe, most scheduled banks in India are safe and the amount is not very large by banking standards. Check all the other facilities and add ons you may get, compare with larger banks and then decide. How is Fincare Small Finance Bank offering 9\% interest rate on fixed deposits?

Is it safe to invest in fincare FDS?

The bank is currently offering very good interest rate on Fds and it is very safe. Fincare is also very digitalized in cash withdrawal and other services. A thumps up for that though the bank has just taken its intial steps and will definitely come up with new products as per other

Should you invest in FDS offered by small finance banks?

Industry experts suggest, though investing in the FDs of small finance banks can fetch you higher returns, investment in these avenues may be a bit risky compared to bank FDs. One should take all precautions, and do their own research before investing in the FDs offered by smaller banks.

Can I risk all my money with a small finance bank?

You certainly can not risk all your money with small finance Banks which are a new entity, but only they can offer better FD rates. They are able to give loans at much higher rates and hence can afford to give better FD Rates than regular banks.