If you are looking to make significant profits by investing in fixed deposits (FDs) soon, then this article is for you. Indeed, besides the major government and private sector banks in the country, small finance banks (SFBs) are also providing high interest rates on fixed deposits (FDs) to their clients.
Fixed Deposit
A report stated that customers of small finance banks can earn interest rates as high as 9.60% on fixed deposits. Let’s examine 10 small finance banks providing the highest FD interest rates to their customers. Suryoday Small Finance Bank provides an interest rate of 9.10 percent for regular customers and 9.60 percent for senior citizen borrowers on a five-year fixed deposit.
Unity Small Finance Bank provides a 9% interest rate for regular customers and 9.50% for senior citizen customers on a 1,000-day fixed deposit. Moreover, Fincare Small Finance Bank is providing 8.51% interest on 1,000-day FDs for regular customers and 9.11% for senior citizens. Equitas Small Finance Bank provides an 8.50 percent interest rate on 888-day deposits for regular customers, while senior citizen account holders receive 9%.
In contrast, ESAF Small Finance Bank is giving 8.50% interest to regular customers and 9% to senior citizens on fixed deposits with a duration of 2 years to under 3 years. In addition, Jana Small Finance Bank is providing an interest rate of up to 8.50% for regular customers and 9% for senior citizen customers on fixed deposits of 500 days. Utkarsh Small Finance Bank provides an interest rate of 8.25 percent to regular customers and 8.85 percent to senior citizens for FDs that mature in 1,000 to 1,500 days. Ujjivan Small Finance Bank provides a rate of 8.25 percent as interest.
Ujjivan Small Finance Bank provides an 8.25 percent interest rate for regular customers and an 8.75 percent rate for senior citizens on a 560-day fixed deposit. Shivalik Small Finance Bank provides an interest rate of 8.15 percent for regular customers and 8.65 percent for senior citizens on fixed deposits with a maturity period of 24 to 36 months.
In addition to this, AU Small Finance Bank is providing a 7.75% interest rate for regular customers and 8.25% for senior citizen customers on fixed deposits maturing between 24 months, 1 day, and 36 months.
