FD Rates: The Reserve Bank of India (RBI) started increasing the repo rate from May last year to control rising inflation. After which most of the public, private and small finance banks started increasing the interest on Fixed Deposit.
Now mostly all the small finance banks are offering higher interest rates to the customers as compared to other public and private sector banks. Some small finance banks are offering more than 9% interest on FDs. Let us know which banks are offering the highest interest.
These are the small finance banks in which you can invest in FD
1) Unity Small Finance Bank: The bank is giving 9.00% interest to general public and 9.50% to senior citizens on 1001 days FD. Apart from this, the bank is offering 9.25 per cent interest on FDs of 181-201 days.
2) Jana Small Finance Bank: The bank is giving 8.50 per cent interest to general public and 9 per cent interest to senior citizens on FDs of more than two to three years. The bank is giving interest ranging from 4.25 per cent to 9 per cent to the customers.
3) Suryoday Small Finance Bank: The bank is offering 9 per cent interest to the general public and 9.60 per cent to senior citizens on FDs of 999 days. Suryoday Finance is giving a maximum interest of 9.60 per cent to the customers. The interest rates of the bank range from 4.50 per cent to 9.60 per cent. These new rates are applicable from May 5.
4) Equitas Small Finance Bank: The bank is giving 8.50 per cent interest to general public and 9 per cent interest to senior citizens on FDs of 888 days. These new rates are applicable from April 11.
5) ESAF Small Finance Bank: The bank is offering 9% interest on FDs of more than 2 years and less than 3 years. This interest is being given to senior citizens. 8.50 percent interest is being given to the general public.
