The bank is offering 3 per cent to 8.51 per cent interest to common customers on FDs of less than Rs 2 crore with a tenure ranging from 7 days to 10 years.
During the meeting of the Monetary Policy Committee of the Reserve Bank of India (RBI), it was decided that there would be no changes in the repo rate. Currently, the repo rate is left unchanged at 6.50 per cent. The last time it was increased was in February 2023.
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As there is no change in the repo rate, there will be no major increase in the interest rates offered on fixed deposits (FDs). However, there are still many small banks that are offering good returns on fixed deposits. One such bank is the Fincare Small Finance Bank. It is a part of the small fiancé sector and offers interest of up to 9.15 per cent on fixed deposits. According to reports, the interest offered on FDs by Fincare Small Finance Bank is much higher than that of big banks like the State Bank of India (SBI) and HDFC Bank.
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Fincare Small Finance Bank has been offering some exciting interest rates on its fixed deposits. According to the website of the bank, they are offering 3 per cent to 8.51 per cent interest to common customers on FDs of less than Rs 2 crore with a tenure ranging from 7 days to 10 years. Apart from that, it also offers 3 per cent on FDs maturing between 7 and 14 days, 4.50 per cent on FDs maturing between 15 and 30 days, and 3.50 per cent on FDs maturing between 31 and 45 days.
Customers are also getting 5.25 per cent interest on FDs maturing in 46 days to 90 days, 5.75 per cent interest on FDs maturing in 91 to 180 days, and 6.50 per cent interest on FDs maturing in 181 to 365 days.
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Similarly, the bank is also offering 8 per cent interest on FDs maturing between 30 months and one day to 999 days. They are also giving 8.51 per cent interest on FDs maturing between 36 months and one day and 42 months. Fincare Small Finance Bank is also offering 7.50 per cent interest on bank FDs maturing between 42 months and one day and 59 months. Senior citizens are also getting 50 basis points more interest on FDs of all tenures compared to ordinary customers.
