Great opportunity to earn from FD! These banks are offering returns up to 9.5%, Do have a look 

Earlier this month, the Reserve Bank of India made a significant move by lowering the benchmark Repo Rate by 25 basis points for the first time in five years, providing considerable relief to borrowers. This change allows them to either decrease their monthly installment amounts or extend the duration of their loans. However, this decision poses challenges for those investing in fixed deposits.

Typically, when the repo rate is cut, commercial banks tend to lower the interest rates on fixed deposits, which results in a decrease in the annual returns on investments. Nevertheless, some banks are still offering competitive annual returns of up to 9.5 percent to their clients.

Unity Small Finance Bank is currently providing an appealing interest rate of 9.5% for senior citizens, while general FD customers can enjoy rates ranging from 4.50% to 9%. The interest rate offered will vary based on the tenure of the deposit. These rates apply to fixed deposits maturing between 7 days and 10 years, with Unity Small Finance Bank offering the highest rate of 9.00% for deposits of 501 days and 9.50% for those of 1001 days. The updated rates took effect on February 12.

Suryoday Small Finance Bank is also in the mix, offering an interest rate of 8.60% on fixed deposits maturing in five years for regular customers, while senior citizens can benefit from a rate of 9.10% on standard duration deposits.

The bank is currently offering interest rates between 4% and 8.60% on fixed deposits that mature anywhere from 7 days to 10 years. Senior citizens can enjoy an extra 0.50% on these rates.

Utkarsh Small Finance Bank is providing these attractive returns.

Additionally, Utkarsh Small Finance Bank has the highest interest rate of 8.50% for regular customers on fixed deposits maturing in 1500 days, while senior citizens can earn 9.10% for the same term. For general customers, the bank offers annual interest rates from 4% to 8.5% on fixed deposits with maturities ranging from 7 days to 10 years. Meanwhile, customers over 60 years old can receive returns between 4.60% and 9.10% for the same duration.