Don't chase rate of interest, chase security nowThe massive number of frauds made in so many cooperative banks, in various parts of India, should sound a bell in each of us. We should now rather not park our funds in the risky mutual funds or the new small banks that are offering high rates of interest. The small finance banks might be at risk sooner or later, as the takers for loans is still very low.
Every single day, one is literally bombarded with questions as to whether he or she is ready to invest in the stock market. Somehow or the other, our cell numbers become known to so many people. There are calls from various banks.
And even the news is all about the high rates offered by some small finance bank or the other. However, these are new banks and will take a minimum of five years before they find their feet. It is unwise to deposit any amount in such banks. Chase security now. If we look around, we can cut on all expenses. This is a far better thing to do now.