Senior Citizen Fixed Deposit Interest Rate Hike News (August 2023): Senior citizens can now get up to 9.10% interest rate with SSFB
Senior Citizen Fixed Deposit Interest Rate Hike News (August 2023): Senior citizens can now get up to 9.10% interest rate on deposits of above 2 years to 3 years with Suryoday Small Finance Bank (SSFB).
Read More: Why Loan Against Fixed Deposit Is Better Than Other Borrowing Options
In a statement, SSFB today said it has revised interest rates on fixed deposits w.e.f August 07, 2023. The has increased its fixed deposit rates for 5-year tenors by 85 basis points (0.85%).
Following the revision, SSFB is now accepting deposits of less than Rs 2 crore maturing in 7 days to 10 years at an interest rate of 4.00% to 8.60% to the general public and 4.50% to 9.10% to senior citizens, the bank said.
Regular customers can now get an 8.60% interest rate on the above 2 years to 3 years deposits, while senior citizens can get a 9.10% interest rate.
Read More: NPS & Retirement: Here’s How National Pension Scheme Can Help You
SSFB Fixed Deposit Interest Rates from August 7, 2023
The domestic fixed deposit rates for amounts less than Rs 2 crore in SSFB from August 7, 2023 are the following:
- 7 days to 14 days: The bank is offering 4% to general citizens and 4.5% to senior citizens
- 15 days to 45 days: The bank is offering 4.25% to general citizens and 4.75% to senior citizens
- 46 days to 90 days: The bank is offering 4.5% to general citizens and 5% to senior citizens
- 91 days to 6 months: The bank is offering 5% to general citizens and 5.5% to senior citizens
- Above 6 months to 9 months: The bank is offering 5.5% to general citizens and 6% to senior citizens
- Above 9 months to less than 1 Year: The bank is offering 6% to general citizens and 6.5% to senior citizens
- 1 Year*: The bank is offering 6.85% to general citizens and 7.35% to senior citizens
- Above 1 Year to 15 months: The bank is offering 8.25% to general citizens and 8.75% to senior citizens
- Above 15 months to 2 years: The bank is offering 8.5% to general citizens and 9% to senior citizens
- Above 2 years to 3 years: The bank is offering 8.6% to general citizens and 9.1% to senior citizens
- Above 3 Years to less than 5 Years: The bank is offering 8.6% to general citizens and 9.1% to senior citizens
- 5 Years: The bank is offering 8.25% to general citizens and 8.75% to senior citizens
- Above 5 years to 10 years: The bank is offering 7.25% to general citizens and 7.75% to senior citizens
Read More: Post Office Time Deposit: Does it offer higher interest rate than major bank FDs?
The bank is also offering interest rates up to 7.00% to its savings account customer in above Rs. 5 Lakhs up to Rs. 2 Crore slab. This is the highest interest rate that the bank offers to its customers.
Deposits in SSFB are backed by DICGC.
