AU Small Finance Bank, which is the country’s largest small finance bank, has announced a hike in fixed deposit (FD) and savings account interest rates. The new rates are applicable with effect from December 12.
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The bank has hiked its peak FD rate for retail deposits by 25 basis points, from the existing 7.5 percent to 7.75 percent for regular customers and 8 percent to 8.25 percent for senior citizens, according to a press release. In October this year, the bank hiked FD rates by up to 60 basis points for retail deposits.
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AU Small Finance Bank has also increased its savings deposit rate to 7.25 percent per annum for savings accounts having balances ranging from Rs 1 crore to Rs 10 crore.
