Finance, Forex and Investments

In time of recession is it safe to go for special deposit schemes being offered by various Indian banks???

especially how safe is canara bank????? shud i go for 1000 days scheme from SBI @10.5% or 500 days scheme from Canara bank @10.5%?

Public Comments

1. I'd be cautious. Banks in Asia are being effected by the financial crisis.
2. All banks especially nationalized banks like SBI are completely safe. the government is responsible for our money. considering the current financial turmoil bank deposits are the safest way to invest :)
3. It would be safe to keep your money in fixed deposits at the RBI (through their bonds) and/or nationalized banks. Canara Bank is a nationalized bank and is safe and so is SBI. It is expected that over the foreseeable future the interest rates on deposits may take a downturn. So, unless you have some other use for your money after 500 days it maybe a better idea to invest in the SBI 1000 day scheme. You may consider referring this matter to your banker, as he would be the best person to guide you in this regard. Sincerely, Akash http://www.narachinvestment.com http://narachinvestment.blogspot.com http://feedproxy.google.com/narachinvestment/uaXA http://www.narachphilosophy.com http://narachphilosophy.blogspot.com http://www.narach.com http://finance.narach.com
4. Nationalized banks are safe bets when compared to private banks.