Senior citizens can now earn more than 9% interest by investing in this Bank’s FD. The bank is now offering interest at the rate of 4.50 per cent to 9.10 per cent to senior citizens on FD.
The Reserve Bank of India (RBI) has once again not made any change in the Repo Rate. But Suryoday Small Finance Bank (SSFB) has increased the interest rate on the Fixed Deposit (FD) scheme of senior citizens.
Senior citizens can now earn more than 9% interest by investing in Suryoday Small Finance Bank’s FD. The bank is now offering 4.50 per cent to 9.10 per cent to senior citizens and 4 per cent to 8.60 per cent to the general public on FDs maturing in 7 days to 10 years.
FD from 7 days to 10 years
According to the bank’s website, this interest rate will be available on deposits of less than two crore rupees. Banks and NBFCs are offering fixed deposit schemes to senior citizens for tenures ranging from 7 days to 10 years. Suryoday Small Finance Bank Senior citizens will now get 9.10% interest on FDs maturing in 2 to 3 years. At the same time, general customers will get interest at the rate of 8.6 percent on deposits of this period. The bank is offering interest at the rate of 9 percent to the elderly for a period of 15 months to more than 2 years.
Interest rate for FD up to one year
Suryoday Small Finance Bank is offering interest at the rate of 4.50 percent on FDs of 7 days to 14 days. The bank is offering 4.75 per cent interest on fixed deposits of 15 to 45 days. Interest will be given at the rate of 5.00 percent on FD of 46 to 90 days. 91 to 6 months fixed deposit will get interest at the rate of 5.50 percent. The bank is promising 6.00 percent interest on deposits ranging from 6 months to 9 months. Interest will be given at the rate of 6.50 percent on FDs of more than 9 months and less than 1 year.
Interest rate for FDs of more than one year
Suryoday Small Finance Bank is offering interest at the rate of 7.35 per cent on fixed deposits for one year. The bank will pay 8.75 percent interest on FDs between 1 year and 15 months. The bank is offering interest at the rate of 9.00 per cent on deposits for a period of 15 months to 2 years. The bank will pay interest at the rate of 9.10 percent on FDs of more than 2 years and up to 3 years. The bank will pay interest at the rate of 7.25 percent on FDs of more than 3 years and less than 5 years. The bank is offering interest at the rate of 8.75 per cent on FDs of 5 years and 7.75 per cent on FDs above 5 years and up to 10 years.
Suryoday Small Finance Bank is one of the fastest growing Small Finance Bank with more than 564 banking outlets in 13 states and union territories and 5085 work force and 1.64 million customers. SSFB Bank claims to offer the highest returns on FD and Savings Bank Deposits.
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