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These SFBs offer higher interest rate on FDs than banks; check out details

These interest rates are higher than the industry-standard; senior citizens also get 50 more basis points than general customers at these SFBs

twitter-logoBusinessToday.In | July 10, 2020 | Updated 17:21 IST
These SFBs offer higher interest rate on FDs than banks; check out details
Small Finance Banks

Some small finance banks (SFBs) are offering interest rates ranging between 8% to  9% on certain fixed deposits even as interest rates on FDs have been falling everywhere else. These interest rates are higher than the industry-standard; senior citizens also get 50 more basis points than general customers at these SFBs. Here's your guide to investing in SFBs.

Utkarsh Small Finance Bank latest FD, interest rates effective from July 3

Fixed deposits with maturity period 7 days to 90 days and 46 days to 90 days will fetch 4% and 4.5% interest rates, respectively. FDs with a longer maturity period will fetch higher interest rates. Utkarsh Small Finance Bank gives 8% interest rate on FD with a maturity period of 700 days, which is the highest rate it has to offer.

Interest rates offered by Utkarsh Small Finance Bank on FDs

7 Days to 45 days 3.50%

46 Days to 90 days 4.00%

91 Days to 180 days 4.50%

181 Days to 364 days 6.50%

365 Days to 699 days 7.75%

700 Days 8.00%

701 Days to 3652 days 7.75%

7-14 days 4%

Suryoday Small Finance Bank (effective May 1)

The highest interest rate offered by Suryoday Small Finance Bank is 8.75% on term deposits maturing in 5 years. For FDs maturing in 5 to 10 years, Suryoday Small Finance Bank gives 7.25% interest rate.

Interest rates offered by Suryoday Small Finance Bank on FDs

7 days to 14 days 4%

15 days to 45 days 4%

46 days to 90 days 5%

91 days to 6 months 5.50%

Above 6 months to 9 months 6.50%

Above 9 months to less than 1 year 7.00%

1 year to 2 years 7.25%

Above 2 years to 3 years 7.50%

Above 3 years to less than 5 years 7.75%

Above 5 years to 10 years 7.25%

North East Small Finance Bank

The highest interest rate offered by North East Small Finance Bank is 8.75% on term deposits maturing in 730 days to less than 1095 days.  Check out the latest interest rates.

15-29 days 4%

30-45 days 4%

46-90 days 4.25%

91-180 days 4.5%

181-364 days 5.5%

365 days to 729 days 7.50%

730 days to less than 1095 8%

1096 days to less than 1825 days 7%

1826 days to less than 3650 days 6.5%

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