Question: Is SBI Bank Safe?

Is SBI bank in trouble?

The bank has been in trouble since its founder and former chief executive officer (CEO) Rana Kapoor was denied extension by the Reserve Bank of India in 2018 owing to corporate governance issues and under-reporting of bad loans.

Kapoor’s term as the bank’s CEO ended in January 2019..

Which is better Bank FD or Post Office FD?

Post office time deposits The interest earned is fully taxable and to be added to one’s ‘Income from other sources’ as in the case of bank FD. There is complete safety as the entire amount in post office time deposit is backed by a government guarantee. Even the interest rate is higher than bank FD in most cases.

Will Yes Bank become SBI?

Fund infusion makes Yes Bank SBI’s new associate bank. The RBI-imposed moratorium on Yes Bank will be lifted at 6pm on 18 March.

Will SBI take over Yes Bank?

Shares of State Bank of India (SBI) plunged about 11 per cent in the opening tick on Friday amid the buzz that it may acquire controlling stake in YES Bank, along with Life Insurance Corporation (LIC). … ET NOW citing sources reported that the two state-run firms will acquire the stake for Rs 490 crore.

Which bank is better SBI or Icici?

In ICICI Bank Fixed Deposit for long-term, long-term ICICI Bank FD interest rate is higher than the SBI FD interest rate. … ICICI Bank FD interest rate for 390 days to 17 months 29 days is 6.30 per cent, which is 0.2 per cent higher than the SBI FD interest rate.

Is SBI a good bank?

When compared to earlier, now SBI is providing good service. I have been holding this account for more than 3-4 years and which have opened for my personal use. No need to maintain a minimum balance account.

Which bank FD is best?

Fixed Deposit Interest Rates of Top 10 Banks in India for below Rs. 2 croreName of BankFor General Citizens (p.a)For Senior Citizens (p.a)Bank of Baroda2.90% to 5.30%3.40% to 6.30%IDFC Bank3.00% to 7.00%4.00% to 7.50%Bank of India3.25% to 5.25%3.75% to 5.75%Corporation Bank3.50% to 5.45%4.00% to 5.95%6 more rows

Will SBI Buy Yes Bank?

NEW DELHI: The State Bank of India (SBI) on Thursday said it will buy YES Bank’s shares worth Rs 7,250 crore at Rs 10 per share, subject to regulatory approvals. … “SBI’s shareholding in YES Bank will remain within 49 per cent of the paid up capital of YES Bank,” it added.

Can I double my money in 5 years?

The Rule of 72 shows you how quickly you’ll double your money. All you have to do is divide 72 by the interest rate it’s earning. This is the number of years it will take for your money to double. … Or, if your money is earning a 5 percent interest rate, you’ll double it in 14.4 years (72 divided by 5 equals 14.4).

Who is the No 1 bank in India?

HDFC Bank emerged as India’s No. 1 bank.

Which is better HDFC or SBI?

This is despite the fact that SBI’s balance sheet is four times larger than HDFC Bank, has 10 times more customers, and is owned by the government of India….BankMarket capitalisation as of May 4State Bank of India₹1.6 lakh croreHDFC Bank₹5 lakh croreMay 5, 2020

Is SBI bank safe for FD?

Now small banks, new banks and some NBFCs offer higher interest rates on FDs to customers as compared to other top banks like State Bank of India (SBI), HDFC Bank, ICICI Bank, etc. to name a few. … So your bank Fixed Deposits (FDs) are safe.

Which bank is safest in India?

List of Best, Safe Banks in India1) HDFC Bank. If market confidence is a measure of the soundness of a Bank, then HDFC Bank takes the cake. … 2) State Bank of India. … 3) ICICI Bank. … 4) AXIS Bank. … 7) Kotak Mahindra Bank, IndusInd Bank.

Is Post Office FD safe?

However, post office term deposits are totally risk-free as they are backed by the government. Bank FDs are insured only up to R1 lakh. … If you are looking for a safe investment, bank FDs are suitable for you.