Stable Money RuPay Credit Card launched by Suryoday bank | 10 Airport lounge access, Spa, Golf, Health Checkup etc

[6ix9ine]

Risk free on paper. It could take years before the actual settlement happens.

Indeed, very few understand it.

 

[hender]

Indeed, very few understand it.

Those who know don't get carried away...

 

[the.avhishek]

Does all members who applied for stable money suryodaya secured card got hard enquiry in CIBIL?

yes, i requested for inquiry removal from CIBIL but they rejected my request.

 

[ninad_tha]

Risk free on paper. It could take years before the actual settlement happens.

It takes 90 days, when a bank gets liquidated a application must be filled out by the customer. DIGC then verifies the details and starts the the reimbursement process. The application submission date is till 45 days after the liquidation has started and it will take additional 45 days for reimbursement if the details are valid (aka 90 days).

There are banks who went under and got liquidated. DIGC indeed fulfilled the promise and reimbursed the customers within 90days. You can read articles about it, how the process was and how to fill the forms, very easy to find.

Not to mention, banks like Unity or Northeast and other SFBs were NBFCs before which got approved to act as a bank.

Upto 5 lakhs is insured including the interest from DIGC.

However I do understand the concern, any principal is at risk in other person's hand, even the government.

Infact the risk is even more with big banks, if HDFC or SBI were to fail entire Indian economy would face a crisis so extreme that even DIGC would not be able to keep up.

So be careful, only invest upto 5 lakhs including interest and as always, if it seems to good to be True, stay away.

For example only, Lokmanya NBFC is offering a staggering 10.3% interest on deposits but I did not invest in it just because it seemed too good to be True (or too greedy for myself to risk the principal.)

This is no way an investment advice and I am not accusing the institution of being untrustworthy. This example along with my entire comment is just my own pure thought for myself presented as an example.

Please do not rely on me for investment, I am not a smart person and not reliable at all.

 

[tharun]

Please do not rely on me for investment, I am not a smart person and not reliable at all.

🤣🤣 Sure thanks for the advice
I will try not to follow you 🤣