Last nite I was looking for some better saving option in India. I was surprised to find as of now currently the maximum ratr of interest available for Indian citizen is only 7.1 % and that too comes with a lock in period of 15 years. The next best comes with 6.8 % with a lock in period of 6 Years which is offered by Indian Post Office services. One of the pioneer traditional saving option for Indian Citizen. The situation is worst at the normal banking system where the interest rate is like nothing.
The snapshot is the clear indication that the interest on some of the tops banks is far lessor for a normal person. It was close to nothing and a common is left with nothing to choose from.
In contrast, HBD saving is offering a 20% APR on the saving balance way ahead of any of the saving option that could beat it. Comparing all Indian market option this is beyond the the maximum limit. And enough to make anyone to put their saving to get a healthy return. The main advantage is that HBD value is pegged to $1 which means that every interest earned on the HBD saving is worth a dollar and help in many way.
However many Indian are not aware of the lucrative option and still putting their hard earned money in banks or lock in for long term saving purpose. Expecting to get a good return. Making them aware is not an easy task, considering Indian government has levied a 30% tax on all crypto earning. So even the HBD earning could be vanish in paying taxes and they are not ready to make use of the opportunity. They would be happy to get lower interest by the government which could not get much taxes.
My perception to the situation is that the current crypto taxes stance could change anytime. As more and more people are exposing themselves for crypto, the government could change the stance at any time. For the welfare of the Indian citizen and a higher return on investment, government may consider to bring about changes in the crypto taxes law. What is so high currently could be reduced in future. So in case if the amount is not ofnuse. One could put it into HBD saving and keep watching the money grow untill it make your richer than a normal saving.
@steemflow