Bank FD passé\, the rich rushing to perpetual bonds

MUMBAI : Wealthy investors are breaking their low yielding fixed deposits in banks to invest in bank perpetual bonds, which earn about 150-200 basis points higher interest rates at the cost of higher risk.This marks a return of investor risk appetite for those quasi-equity securities that ebbed fully after Yes Bank failed to repay its bondholders under the suspended management.“Wealthy investors are moving out of vanilla bank fixed deposits,”