I got a pop up on the App, asking me to open an online SB account - no branch visits, no charges, no paperwork n no minimum balance. Promising interest linked to RBI's repo rate n payable daily. Max DICGC Cover is 5L.
RBI's repo rate is 5.5% today.
Why will I open this SB account when I am getting more than 5.5% in Kotak's sweep enabled SB account ?
Not interested as of now. Notwithstanding their pink coloured CC.