Suryoday Small Finance Bank has revised its interest rate on fixed deposits (FD), hiking it by 50 to 226 basis points per
Suryoday Small Finance Bank has revised its interest rate on fixed deposits (FD), hiking it by 50 to 226 basis points per. According to the revised interest rates, general investors can earn up to 9.01 per cent on FDs below Rs 2 crore, while senior citizens can get a rate of return of up to 9.26 per cent. The updated interest rates came into effect on December 6.
According to a statement by the bank, it is offering interest rates of 4 to 9.01 per cent to the general public and 4.50 per cent to 9.26 per cent to senior citizens on deposits of less than Rs 2 crore, maturing between 7 days to 10 years.
The return rate on a general FD with a 5-year tenure would be 9.01 per cent, while on a 999-day tenure, the FD would earn an interest of 8.51 per cent. If the tenure of the deposit is between 1.5 to 2 years, the bank will offer interest at the rate of 8.01 per cent.
On an FD tenured above 2 years to 998 days, the general account holders will earn an interest of 7.51 per cent with the bank. For a tenure of 32 months 27 days to 3 years, this rate is at 7.25 per cent. The bank is offering an interest rate of 7 per cent on 1 year to 1.5 years FD, and of 6.75 per cent on above 3 years to less than 5 years tenure. The interest rate is fixed at 6 per cent on a tenure of over 5 to 10 years. The interest rates differ from 4 to 6 per cent on FDs maturing from 7 days to less than a year.
For senior citizens, the bank is offering interest of 9.26 per cent on 5 years tenure, 8.76 per cent on 999 days and 8.51 per cent on above 1.5 to 2 years. On a tenure of above 2 years to 998 days, the bank is offering a rate of return of 8.01 per cent. Senior citizens can earn up to 7.75 per cent interest on their FD of 32 months 27 days to 3 years and 7.50 per cent on 1 to 1.5 years. On above 3 years to less than 5 years tenure, the elderly can earn 7.25 per cent interest.
The rate is 6.50 per cent on the above 5 years to 10 years tenure. The rate of return ranges from 4.50 to 6.50 per cent on FDs maturing from 7 days to less than 1 year.
