Here are some due-diligence questions:
Ask for official documentation: certificate of registration, approval by regulatory body.
Confirm the deposit scheme: minimum amount, interest rate, lock-in period (if any), withdrawal terms.
Understand risks: Entities that are not banks or properly regulated may carry higher risk.
Check whether your deposits are covered by insurance or guarantee scheme.
Ask for audited financial statements (if available) to check the company’s financial health.
Verify last year’s return, audit, solvency. Since public summaries show limited disclosures, this is especially important.
Read the agreement carefully: What happens if the company winds up? What are rights of depositors?