Small Finance Banks FD Rate: For some time now, good interest is being given by banks on FD. If you also want more interest then we will tell you about some small finance banks.
FD Interest Rate: Fixed Deposit (FD Scheme) run by banks for senior citizens offers more interest than the schemes run for general investors. This simply means that if you invest in FD in the name of a senior citizen, you get higher returns on your money. Senior Citizen FD schemes provide a great option for the elderly to grow and protect their investments. Through these, it also helps in meeting the financial needs of the elderly.
Under Section 80TTB of the Income Tax Act, elderly people can avail deduction of up to Rs 50,000 on this income. This makes it even more beneficial. For some time now, good interest is being given by banks on FD. But if you want even higher interest than this then we will tell you about some small finance banks. By investing in these, senior citizens get good interest on FD.
Interest on FD of Equitos Small Finance Bank
Equitos Small Finance Bank offers 4% to 9% interest to the common people on deposits for 7 days to 10 years. The maximum interest given is 9% on FD maturing in 444 days. Senior citizens get 0.50% additional interest over the rates offered to general investors. These rates are applicable from August 21, 2023.
Fincare Small Finance Bank
In Fincare Small Finance Bank, interest ranging from 3.60% to 9.21% is payable to senior citizens for the tenure ranging from 7 days to 10 years. The highest interest rate in this bank is 9.21%, which is available on FD maturing in 750 days. The bank has implemented these rates from October 28, 2023.
Jana Small Finance Bank
Jana Small Finance Bank offers 3.50% to 9% interest to senior citizens on deposits for a period ranging from 7 days to 10 years. The highest interest rate is 9%, which is available on FD maturing in 365 days. The bank has implemented these rates from January 2, 2024.
Suryoday Small Finance Bank:
This bank gives 4.50% to 9.10% interest to senior citizens on deposits for a period of 7 days to 10 years. The highest interest rate of the bank is 9.10%, which is given on FD maturing in two years and two days. These rates have been implemented from December 22, 2023.
Unity Small Finance Bank
Unity Small Finance Bank offers 4.50% to 9.50% interest to senior citizens on deposits for a period ranging from 7 days to 10 years. The highest interest rate available on FD maturing in 1001 days is 9.50%. The bank has implemented these rates from 2 February 2024.
Utkarsh Small Finance Bank
Utkarsh Small Finance Bank offers 4.60% to 9.10% interest to senior citizens on deposits for a period ranging from 7 days to 10 years. The highest interest rate is 9.10%. It is available on FD with a tenure of two to three years. The bank has implemented these rates from August 21, 2023.
