According to BankBazaar, the average interest rate of top 10 small finance banks is 8 percent for FD with a tenure of three years. Let’s take a look at the interest rates of different banks –
Fixed deposits (FDs) play an important role in creating emergency funds. At present, there is a great opportunity for such investors who are looking for risk-free investment. Because many small finance banks are currently offering interest rates up to 8.6 percent on FD.
According to BankBazaar, the average interest rate of top 10 small finance banks is 8 percent for FD with a tenure of three years. Let’s take a look at the interest rates of different banks –
Suryoday Small Finance Bank
Suryoday Small Finance Bank is offering 8.6 percent interest rate on three-year FD. This is the highest interest rate among small finance banks. Meanwhile, if a person invests Rs 1 lakh, it will increase to Rs 1.29 lakh in three years.
Jana Small Finance Bank
Jana Small Finance Bank is offering 8.5 percent interest on three-year FD. This means that an investment of Rs 1 lakh will increase to Rs 1.29 lakh in three years.
Utkarsh Small Finance
Utkarsh Small Finance is also offering 8.5 percent interest rate on three-year FD.
Fincare Small Finance
Fincare Small Finance Bank is offering an interest rate of 8.11 percent on three-year FD. This means that if someone invests Rs 1 lakh, it will increase to Rs 1.27 lakh in three years.
North East Small Finance Bank
North East Small Finance Bank is offering 7.75 percent interest on three-year FD. This means that an investment of Rs 1 lakh will grow to Rs 1.26 lakh in three years.
Interest rate of 8%
AU Small Finance Bank, Equitas Small Finance Bank and Shivalik Small Finance Bank are offering 8 percent interest rate on three-year FD. This means that an investment of Rs 1 lakh will grow to Rs 1.27 lakh in three years.
