Suryoday Small Finance Bank (SFB) has recently revised its interest rates for its fixed deposit schemes with amounts less than Rs 2 crore. With the revision, which has been effective since November 2, the bank is offering a maximum interest rate of 8.01 per cent for the general public and 8.26 per cent for senior citizens for deposits of 999 days.
The bank is offering interest rates ranging from 4.00 per cent to 6.00 per cent for the general public and 4.50 per cent to 6.50 per cent for senior citizens for deposit schemes ranging from 7 days to 10 years.
Interest rates for 7 days to less than 1 year
The bank’s basic interest rate for 7 to 14 days scheme is 4 per cent. For 15 days to 45 days, the interest rate is 4.25 per cent. The interest rate for deposits of 46 to 90 days is 4.50 per cent, while for 91 days and 6 months, it is 5.00 per cent.
For FDs for 6 months to 9 months, Suryoday Small Finance Bank is offering an interest rate of 5.50 per cent, while the interest rate is 6.00 per cent for schemes maturing in more than 9 months to less than 1 year.
Interest rates for 1 year to 10 years
Suryoday Small Finance Bank will pay an interest rate of 7.00 per cent on fixed deposits maturing in 1 Year to 1 Year 6 Months, while the interest rate for schemes in above 1 Year 6 Months to 998 days is 7.51 per cent.
For deposits of 32 months to 3 years, the interest rate is 7.25 per cent.
For FDs of tenor 3 Years to 5 Years, the revised rate is 6.75 per cent. For 5 years to 10 years, the bank is offering 6.00 per cent interest rate. For 999 days, which is the maximum tenor, the bank is offering an interest rate of 8.01 per cent.
Interest rates of other small finance banks
Unity Small Finance Bank
Unity Small Finance Bank recently floated its Shagun 366, which is a 1-year 1-day fixed deposit scheme, that is offering retail customers an interest rate of 7.8 per cent a year. Senior citizens under the same scheme will earn 8.3 per cent per annum for the 366-day tenure. The offer is on up to 30 November 2022.
AU Small Finance Bank
AU Small Finance Bank has also tweaked its fixed deposit interest rates to help its retail customers earn more on their investments. The bank is offering an interest rate ranging from 6.9 per cent to 7.5 per cent for regular retail customers, whereas for senior citizens the interest rates range from 7.4 per cent to 8 per cent.
