• The general public can earn up to a maximum of 9.01% on FDs of less than ₹2 crore, while senior citizens can earn a higher rate of return of up to 9.26% on their FDs.
Suryoday Small Finance Bank has increased its fixed deposit interest rates by 50 basis points to 226 basis points. The bank is now accepting deposits below ₹2 crore. The new interest rates have come into effect from 6 December. Also, the bank has also launched a one-time promotional offer for deposits of 5 years for a tenure of 15 days.
The general public can earn up to a maximum of 9.01% on FDs of less than ₹2 crore, while senior citizens can earn a higher rate of return of up to 9.26% on their FDs.
In its statement, the SFB said, interest rates were hiked by 50 to 226 basis points (bps) in 3 tenures.
The SFB further informed that the bank will now accept deposits of less than ₹2 crore maturing in 7 days to 10 years at an interest rate of 4% to 9.01% for public and 4.50% to 9.26% for senior citizens. doing.
That said, this is the highest interest rate that the bank offers to its customers and your deposit is backed by DICGC, making an investment decision early will also help you meet your 5-year mid-term goals.
Let us examine the FD rates in detail:
For general category, a rate of 9.01% is offered on tenure of 5 years, while the bank is offering 8.51% on tenure of 999 days and 8.01% on tenure ranging from 1 year 6 months to 2 years. In addition, the bank offers 7.51% for more than 2 years 998 days, 7.25% for 32 months 27 days to 3 years and 7% for 1 year to 1 year and 6 months. For tenure of more than 3 years to less than 5 years, the rate is 6.75%, while for tenure of 5 years to 10 years, the rate is 6%. Interest rates on FDs of 7 days to less than 1 year tenure vary from 4% to 6%.
For senior citizens, the bank offers a higher rate of 9.26% on tenure of 5 years, while the rates are 8.76% on 999 days, 8.51% for 1 year 6 months to 2 years and 8.01% on 2 years to 998 days above % Huh. , In addition, senior citizens can earn 7.75% for 32 months 27 days to 3 years, 7.50% for 1 year to 1 year 6 months and 7.25% for tenure above 3 years to less than 5 years. The rate for the above 5 years to 10 years tenure is 6.50%. Rates on FDs for tenures ranging from 7 days to less than 1 year range from 4.50% to 6.50%.
Also the bank has launched a one time promotional offer for 5 years deposits and this limited offer is available for 15 days. The validity period will be from December 6 to December 20, 2022.
SFB is one of the fastest growing Small Finance Banks with over 564 banking outlets across 13 states and union territories and 5085 employee strength and 1.64 million customers. SSFB Bank offers highest returns on Fixed & Savings Bank Deposits.
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