ESAF Small Finance Bank (ESAF SFB) has launched a special FD of 999 days. In this scheme, the bank will give 8.00 percent interest to common customers and 8.50 percent to senior citizens.
If you also want to get strong returns by investing in Fixed Deposits in a safe way, then this news is for you only. Actually, ESAF Small Finance Bank (ESAF SFB) has come up with a special scheme of FD for the investors. The maturity period in this special FD scheme, launched after the increase in the repo rate, will be 999 days. In this, 8 percent interest will be given to the general public and 8.50 percent to senior citizens. This special FD program will be available till 30 November 2022.
In addition to this limited time offer, ESAF Small Finance Bank has revised interest rates on fixed deposits below Rs 2 crore. The bank is now offering interest rates ranging from 4.00% to 5.25% for general public and 4.50% to 5.75% for senior citizens on FDs with maturities ranging from 7 days to 10 years.
RBI has increased the repo rate for the fourth time in a row, RBI has increased the
repo rate for the fourth time in a row to stop the rising inflation in the country. Now the repo rate has reached 5.90 percent. In the MPC meeting of RBI on September 30, it has been decided that the repo rate will be increased by 0.50 percent for the fourth consecutive time. Now the repo rate has been increased from 5.40 percent to 5.90 percent. Earlier, after 0.40 per cent increase in May, there was an increase of 0.50-0.50 per cent in June and August.
Many banks have increased the rates of fixed deposits.
It is noteworthy that recently RBL Bank, Axis Bank, CSB Bank Ltd., Kotak Mahindra Bank, Canara Bank, Indian Overseas Bank etc. have also increased their FD rates. This process of increasing the rates has started after the increase in the repo rates by the RBI.
