Fixed deposit (FD) is considered to be one of the most common financial instruments to invest your hard-earned money. Bank FD is considered the most preferred investment option because it is considered safer as compared to investments in equities like stocks, SIPs, or mutual funds (MFs). As compared to commercial banks, small finance banks offer higher interest rates on term deposits or FDs. Unity Bank offers a 9% interest rate on select maturities for general customers.
Also Read– Should you opt for higher pension under the Employee Pension Scheme?
Unity Small Finance Bank Latest FD interest rates
For regular consumers, it offers interest rates between 4.5% to 9%. It currently provides senior citizens with an interest rate of 9.5% p.a. on fixed deposits invested for terms of 1001 days, respectively, while retail investors get 9% for the same terms. These rates are effective from 2 May 2023.
Unity Small Finance Bank Latest FD interest rates for general citizens
> 6 Months – 201 Days 8.75%
501 Days 8.75%
1001 Days 9.00%
Also Read– LIC Jeevan Azad: For 20 Years Policy, Pay Premium Only For 12 Years, Know Key Details Here
Unity Small Finance Bank Latest FD interest rates for senior citizens
> 6 Months – 201 Days 9.25%
501 Days 9.25%
1001 Days 9.50%
Utkarsh Small Finance Bank Latest FD interest rates
At Utkarsh Small Finance Bank, deposits maturing in 700 days will now earn a maximum interest rate of 8.25% for the general public and 9% for senior citizens. As per the official website of the bank, the new FD rates are effective as of 27th February 2023. The bank offers senior citizens fixed-term deposits with interest rates ranging from 4.75% to 9%.
Utkarsh Small Finance Bank Latest FD interest rates for general citizens
700 Days 8.25%
Utkarsh Small Finance Bank Latest FD interest rates for senior citizens
700 Days 9.00%
Also Read- Why GST Sees Highest-Ever Collection In April 2023? Experts Say This
Fincare Small Finance Bank Latest FD interest rates
Fincare Small Finance Bank will now provide fixed deposit interest rates between 3% to 8.4% to general citizens,a nd 3.60% to 9.01% for senior citizens. The highest interest rate of 9.01% is offered on a tenure of 1000 days. These rates are applicable from March 24, 2023.
Fincare Small Finance Bank Latest FD interest rates for general citizens
1000 Days- 8.4%
Read More:– TCS Vs Infosys Vs Wipro Vs HCL Tech: A Complete Comparison of Employee Strength, Attrition
Fincare Small Finance Bank Latest FD interest rates for senior citizens
1000 Days 9.01%
SBI, HDFC Bank, and ICICI Bank offer an interest rate ranging between 3.00% and 7.10% p.a on FDs maturing in 7 days to 10 years. Senior citizens are provided an additional interest rate- 3.50% and 7.60%.
Axis Bank offers FD rates of 3.50-7.20% p.a. to the general public and 3.50-7.95% p.a. to senior citizens on tenures
Also Read- Five Stocks To Turn Ex-Dividend This Week Ending on May 5. Do you Own These?
The Reserve Bank of India (RBI) has decided to halt interest rate hikes, signaling that the interest rate cycle may have reached its peak. Since May 2022, the Reserve Bank of India (RBI) has hiked the repo rate by 2.5%.
