FD Interest: Suryoday Small Finance Bank has increased the deposit rates up to 9.60 percent for a period of 5 years. The bank offers FD interest rates ranging from 4.50% to 9.60% to senior citizens. The bank offers 9% for a tenure of 999 days. The bank offers 9.10% for regular citizens with a tenure of 5 years.
Fixed Deposit (FD) of banks is counted in safe investment. People who have to choose a safe investment go towards FD. Interest rate is given on FD which is fixed. Although most of the banks do not give much interest on FD, but today we are going to tell you about some such banks which are providing more than 9% interest on FD. Let’s know about it…
Interest on FD
Only a few banks are offering interest rates above 9% on FDs for fixed tenures to senior citizens. Private banks and public sector banks are far behind in offering competitive interest rates as compared to Small Finance Banks (SFBs). Many SFBs are covered through DICGC, which insures up to Rs.5 lakh. This insurance is applicable on all deposits like savings, fixed, current, recurring etc. In such a situation, here we are telling about those banks which are offering 9% or more interest rate on FD to senior citizens.
Unity Small Finance Bank
Unity Small Finance Bank (SFB) offers FD interest rates up to 9 per cent for general citizens and up to 9.50 per cent for senior citizens. The bank offers the highest interest rate of 9.50% to senior citizens on tenure of 1001 days. The revised interest rates are applicable from June 14, 2023.
Jana Small Finance Bank
Jana Small Finance Bank offers an interest rate of up to 9 percent on fixed deposits for senior citizens for tenures ranging from 366 days to less than 2 years.
Fincare Small Finance Bank
Fincare Small Finance Bank has increased deposit rates by up to 9.11 percent. The bank offers FD interest rates ranging from 3 per cent to 8.51 per cent to the general public. The highest interest rate of 9.11 per cent is offered for a tenure of 1000 days. The new rates are applicable from May 25, 2023.
Suryoday Small Finance Bank
Suryoday Small Finance Bank has increased the deposit rates up to 9.60 percent for a period of 5 years. The bank offers FD interest rates ranging from 4.50% to 9.60% to senior citizens. The bank offers 9% for a tenure of 999 days. The bank offers 9.10% for regular citizens with a tenure of 5 years. These rates are applicable from June 1, 2023.
Equitas Small Finance Bank
Equitas Small Finance Bank offers an interest rate of 9% for senior citizens and 8.50% for general citizens on tenors of 444 days and 888 days. The rates are effective from June 5, 2023.
ESAF Small Finance Bank
ESAF Small Finance Bank offers an interest rate of 9% for senior citizens for a tenure of 2 years to less than 3 years and 8.50% for general citizens. The rates are effective from April 14, 2023.
