FD Rates: Small finance banks are the highest in terms of giving more than inflation, these banks are giving returns of up to 8 percent to the common people as well as senior citizens.
Retail inflation in India has seen a slight decline in June due to the increase in the repo rates by the Reserve Bank of India. Inflation has come down to 7.01 percent in June. Even after that, the retail inflation rate is above the upper tolerance band of the central bank. In a bulletin issued earlier this month, the RBI said inflation in India may be at its peak, but it is too early to say when it will be reined in. In this scenario and considering that the stock market has been witnessing volatility for several months, due to which investors are looking for safe ways to invest which will give them high returns. Bank FDs are a good way to save money and earn interest, but they often offer low rate of return.
With the CPI being 7.01 per cent in July, traditional bank FDs that offer interest rates in the 2-6 per cent bracket may not be useful for investors who want to beat inflation on their deposits. However, some small finance banks including Suryoday Small Finance Bank, Jana Small Finance Bank and Ujjivan Small Finance Bank are offering interest rates higher than the inflation rate. Let us also tell you how much interest these three banks are giving on the different tenure.
Suryoday Small Finance Bank FD Rates
- 7 days to 14 days: For general public – 3.25 per cent, for senior citizens – 3.75 per cent
- 15 days to 45 days: For general public – 3.25 per cent, for senior citizens – 3.75 per cent
- 46 days to 90 days: For general public – 4.25 percent, for senior citizens – 4.75 percent
- 91 days to 6 months: For general public – 4.75 percent, for senior citizens – 5.25 percent
Above 6 months to 9 months: For general public – 5.25 per cent, for senior citizens – 5.75 per cent - Above 9 months to less than 1 year: For general public – 5.75 per cent, for senior citizens – 6.25 per cent
- 1 year to 1 year 6 months: For general public – 6.50 per cent, for senior citizens – 7.00 per cent
- Above 1 year 6 months to less than 2 years: For general public – 6.50 per cent, for senior citizens – 7.00 per cent
- Above 2 years to 998 days: For general public – 7.00 per cent, for senior citizens – 7.50 per cent
- 999 days: For general public – 7.49 per cent, for senior citizens – 7.99 per cent
- 1000 days up to 3 years: For general public – 7.00 percent, for senior citizens – 6.80 percent
- Above 3 years to less than 5 years: For general public – 6.50 per cent, for senior citizens – 7.00 per cent
- 5 years: For general public – 6.75 percent, for senior citizens – 7.25 percent
- 5 years and above 10 years: For general public – 6.00 per cent, for senior citizens – 6.50 per cent
Jana Small Finance Bank FD Interest Rates
- 7 days to 14 days: For general public – 2.50 per cent, for senior citizens – 3.30 per cent
- 15 days to 60 days: For general public – 3.00 per cent, for senior citizens – 3.80 per cent
- 61 days to 90 days: For general public – 3.75 per cent, for senior citizens – 4.55 per cent
- 91 days to 180 days: For general public – 4.50 per cent, for senior citizens – 5.30 per cent
- 181 days to 364 days: For general public – 5.50 per cent, for senior citizens – 6.30 per cent
- 1 year (365 days): For general public – 6.50 per cent, for senior citizens – 7.30 per cent
- 1 year and above to 2 years: For general public – 7.00 per cent, for senior citizens – 7.80 per cent
- 2 years and above to less than 3 years: for general public – 7.25 per cent, for senior citizens – 8.05 per cent
- 3 years and above to less than 5 years: for general public – 7.25 per cent, for senior citizens – 8.05 per cent
- 5 years (1825 days): General public – 7.35 per cent, Senior citizens – 8.15 per cent
- 5 years and above 10 years: For general public – 6.00 per cent, for senior citizens – 6.80 per cent
Ujjivan Small Finance Bank FD Interest Rates
- 7 days to 29 days: For general public – 2.90 per cent, for senior citizens – 3.40 per cent
- 30 days to 89 days: For general public – 3.50 per cent, for senior citizens – 4.00 per cent
- 90 days to 179 days: For general public – 4.25 per cent, for senior citizens – 4.75 per cent
- 6 months: For general public – 5.00 per cent, for senior citizens – 5.50 per cent
- 6 months and above to less than 9 months: for general public – 4.75 per cent, for senior citizens – 5.25 per cent
- 9 months: For general public – 5.05 per cent, for senior citizens – 5.55 per cent
- 9 months and above to less than 1 year: For general public – 6.50 per cent, for senior citizens – 7.30 per cent
- 1 year: For general public – 6.70 percent, for senior citizens – 7.20 percent
- 12 months and 1 day to 15 months: For general public – 6.00 percent, for senior citizens – 6.50 percent
- 15 months and 1 day to 18 months: For general public – 7.00 per cent, for senior citizens – 7.50 per cent
- 18 months and 1 day to less than 24 months: For general public – 6.60 per cent, for senior citizens – 7.10 per cent
- 24 months: For general public – 7.10 percent, for senior citizens – 7.60 percent
- 990 days: For general public – 6.50 per cent, for senior citizens – 7.00 per cent
- 991 days to 36 months: For general public – 7.20 per cent, for senior citizens – 7.70 per cent
- 18 months and 1 day to less than 24 months: For general public – 6.50 per cent, for senior citizens – 7.00 per cent
- 36 months and 1 day to 42 months: For general public – 6.25 per cent, for senior citizens – 6.75 per cent
- 42 months and 1 day to 60 months: For general public – 7.20 per cent, for senior citizens – 7.70 per cent
- 60 months and 1 day to 120 months: For general public – 6.00 per cent, for senior citizens – 6.50 per cent
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