Replacement for my NEXUS 5 16GB

I have been using Nexus 5 16GB since 2 and a half year. Indeed it is a great phone, excellent display and performance but lately it has become sluggish despite formatting it stays the same plus 16GB and the battery issues isn't helping much.
I am low on budget and i am thinking of buying Xiamo Redmi Note 3 (Snapdragon 650 3GB variant).
Is it a good replacement ?
Is the camera of that phone any good ?
I don't mind having a phone with almost the same quality camera but not any lower.

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