FD Rates above 9 Percent: To deal with inflation, most people and investors look for such options to invest money. Here you are being told about 2 such banks which are giving 9% interest on Fixed Deposit to the investors.
Unity Small Finance Bank is offering 9.50% interest on FD to senior citizens. Customers are not getting this much interest in other safe saving options right now.
Unity Small Finance Bank
Unity Small Finance Bank is now offering 9.50% per annum interest on FDs to senior citizens. Unity Small Finance Bank is giving 9.5% interest to senior citizens on 1001 days FD. However, 9% interest is being given to common retail investors on this. Small Finance Bank is offering the highest interest on FD.
Fincare Small Finance Bank (SFB)
Fincare Small Finance Bank is offering FDs maturing in 7 days to 10 years to its customers. Fincare is offering a maximum interest of 9.1 per cent to senior citizens. The maximum interest being given to the common people is 8.41 per cent. These new rates are available for FDs of 1,000 days.
RBI increased repo rate rates
The Reserve Bank of India (RBI) increased the repo rate by 25 basis points in the February monetary policy meeting, after which the repo rate now stands at 6.50%. This is the highest level of the repo rate since August 2018. RBI has increased the repo rate by 250 basis points i.e. 2.50 percent in six times. After increasing the repo rate of RBI, now most of the banks are increasing their loan rates and interest on FD.
