Facebook is one of the best social networking sites. With this you can stay connected with friends all over the world. FB lite is a smaller version of the app which comes under few mb download size.
Pros :
Very small in size compared to FB app
Loads Faster
Chatting option ( this is not available in FB app, you have to separately download Messenger app)
Consumes less data and Ram while app is running
Cons :
Nothing
If you are a FB fan and you dont have high end phones with good processor and 2-3Gb of RAM, you should use this app for smooth experience of FB