Some banks are giving more than 9% interest on FD to their customers. These are Suryoday Small Finance Bank and Unity Small Finance Bank. Banks are giving more than 9% interest to their senior citizen customers.
The Reserve Bank of India (RBI) has increased the repo rate by 35 basis points on Wednesday. Now the policy repo rate has increased to 6.25%. Banks can now increase the interest rates of loan and deposit products in the coming few days. Banks started increasing interest rates on fixed deposits in the year 2022 and now the FD rates of most banks are in the range of 5-8%. Some banks are giving more than 9% interest on Fixed Deposits (FD) to their customers. These are Suryoday Small Finance Bank and Unity Small Finance Bank (SFB). Banks are giving more than 9% interest to their senior citizen customers.
Suryoday Small Finance Bank is offering up to 9.59% interest
Suryoday Small Finance Bank (SFB) has revised interest rates on fixed deposits (FD) of less than Rs 2 crore. According to the bank’s website, the new rates are applicable from 6 December 2022. The bank has increased interest rates on all term deposits. The bank is offering fixed deposits with maturities ranging from 7 days to 10 years, in which interest ranging from 4 to 9 percent is being given to the common people. At the same time, 4.50 to 9.59 percent interest is being given to senior citizen customers.
Unity Small Finance Bank is giving 9% interest
Unity Small Finance Bank (SFB) has revised the interest rates of its deposits on 21 November 2022. Unity Small Finance Bank is giving a maximum interest of 8.50% to its non-senior citizens. At the same time, it is offering an interest rate of 9% to senior citizens on two special deposits of 181 days and 501 days.
Other Small Finance Bank Fixed Deposit Rates
Utkarsh Small Finance Bank is offering a maximum interest rate of 8% to general public and 8.75% to senior citizens. At the same time, Ujjivan Small Finance Bank (SFB) is giving 8% interest to common people and 8.75% to senior citizen customers. Shivalik Small Finance Bank is giving maximum interest of 7.50% to general public and 8% to senior citizens.
