Bank FD Interest Rate: Fixed Deposit is one of the most popular investment instruments in India. Recently, after increasing the interest rates of RBI, there has been a significant increase in the returns on fixed deposits. Let us know how much interest is being received on FD…
RBI has increased the repo rate by 2.50 percent in the last one year. With this step of RBI, taking loan has become expensive. However, along with this, banks have also increased the interest rates on Fixed Deposits (FD). In today’s date, many small finance banks are giving very good interest on Fixed Deposit. Let’s have a look at the list of these small finance banks…
1. Unity Small Finance Bank: This small finance bank is offering 4.50 per cent to 9 per cent interest to common citizens on FDs of seven days to 10 years. This bank is giving interest ranging from 4.50 per cent to 9.50 per cent on FDs of seven days to 10 years to senior citizens.
On FD of 1001 days, the common people are getting the maximum interest of 9 percent and senior citizens are getting 9.5 percent.
2. Suryoday Small Finance Bank : This small finance bank is offering four percent to 8.51 percent interest to the common people on FDs of 7 days to 10 years. At the same time, this bank is offering interest ranging from 4.5 per cent to 8.76 per cent to senior citizens.
3. Utkarsh Small Finance Bank:In this bank, common citizens can get returns ranging from four percent to 8.25 percent on FDs ranging from seven days to 10 years. At the same time, senior citizens have the opportunity to earn up to 9% returns.
How safe is investing in Small Finance Bank,
like other banks, RBI also regulates Small Finance Bank. But before investing in any small finance bank, customers should ensure that the bank is covered under the Deposit Insurance and Credit Guarantee Corporation. Under this insurance program, deposits of up to Rs 5 lakh in banks are insured and investors’ money does not get lost even if the bank collapses.
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