Hi Sir, Is it safe to open the medium term(1-3 yrs)FD in Small Saving Banks. E.g, Ujjivan, Fincare, Equitas, Suyoday etc.,?
Forget about safety. Just think about why they are offering a higher interest rate? They have to lend your money at a higher interest rate than what they are offering you. Who will take such a higher interest loan? Such loan seekers are usually risky profiles where the nationalized banks may deny the loan.
Hence, just for the sake of 1% or 2% higher interest rates, never risk your money.