Senior citizens bank fixed deposit rates at 8%. FD rates of 5 banks here

Fixed deposits (FD) are often the preferred investment options for seniors. All the top lenders, including the State Bank of India (SBI), ICICI Bank, HDFC Bank, and others, award 50 basis points interest to seniors citizens and above the general customers. Interest rates on fixed deposits have been falling. But some small financial banks (SFBs) continue to offer relatively higher rates amid the lower interest rate. Below is a comparison of FD rates offered by some small financial banks.

Let's take a look at the FD interest rate that small financial banks like Suryoday, Fincare, Utkarsh, North East, and Jana offer to senior citizens:

Suryoday Small Finance Bank latest FD interest rates for senior citizens effective 15 September 

For deposits maturing between 7 and 45 days, the Suryoday Small Finance bank gives an interest of 4.5%. For a period of 46 days to 90 days, 91 days to 6 months, and over 6 months to 9 months, the bank gives interest at 5.5%, 6%, and 6.75% respectively. Deposit contracts that expire in a period of more than 9 months to less than a year will yield an interest of 7% and from 1 year to 2 years 7.25%. Term deposits maturing in more than 2 to 3 years will yield 7.65%. Deposits with maturities of more than 3 years to less than 5 years, the bank gives an interest rate of 7.75%, and the bank gives the highest interest for deposits that mature in 5 years at 8%. For FDs maturing in 5 to 10 years, Suryoday Small Finance Bank gives 7.5%7 days to 14 days 4.5%

Senior citizen bank FD rates

15 days to 45 days 4.5%

46 days to 90 days 5.5%

91 days to 6 months 6%

Above 6 months to 9 months 6.75%

Above 9 months to less than 1 year 7.00%

1 year to 2 years 7.25%

Above 2 years to 3 years 7.65%

Above 3 years to less than 5 years 7.75%

5 years 8%

Above 5 years to 10 years 7.5%

Fincare Small Finance Bank, latest FD interest rates for senior citizens effective 3 September

Fincare Small Finance Bank offers term deposits from 7 days to 7 years with interest ranging from 4% to 8% for seniors. For deposits with a maturity of less than one year, Fincare Microfinance Bank grants an interest of 6.5%. For 12-18 months 7.5%, 18 months from 1 to 24 months 7.6%. Fincare Microfinance Bank offers the highest interest rate at 8% for deposits with a maturity of 36 months from one day to 42 months.

7 days to 45 days 4%

46 days to 90 days 4.5%

91 days to 180 days 5%

181 days to 364 days 6.5%

12 months to 15 months 7.45%

15 months 1 day to 18 months 7.5%

18 months 1 day to 21 months 7.6%

21 months 1 day to 24 months 7.6%

24 months 1 day to 30 months 7.75%

30 months 1 day to 36 months 7.75%

36 months 1 day-42 months 8%

42 months 1 day-48 months 7.50%

48 months 1 day-59 months 7.50%

59 months 1 day-66 months 7%

66 months 1 day-84 months 6%

Utkarsh Small Finance Bank, Latest FD Interest Rates For senior citizens effective 1 September

FD with a maturity period 7 days to 90 days and 46 days to 90 days will fetch 3.75% and 4.25% interest rate respectively. FDs maturing in 91 days to 180 days 5% and from 181 days to 364 days 7%. For deposits maturing from 1 year to 699 days, the lender grants 7.75%. Utkarsh Small Finance Bank offers the highest interest rate for 700-day deposits. The bank grants an interest of 8% on deposits that mature in 700 days. For FDs maturing from 701 days to 3652 days, Utkarsh Bank gives Small Finance 7.75%. 

Senior citizen bank FD rates

7 Days to 45 Days 3.75%

46 Days to 90 Days 4.25%

91 Days to 180 Days 5%

181 Days to 364 Days 7%

365 Days to 699 Days 7.75%

700 Days 8.00%

701 Days to 3652 Days 7.75%

North East Small Finance Bank latest FD interest rates for senior citizens effective 1 September 

For deposits that are due between 7 and 90 days, the bank gives an interest of 4.5%. For deposit contracts maturing 91-180 days and 181-364 days, North East Small Finance Bank awards 5% and 5.75% respectively. For deposit contracts that expire within 365 days to 729 days, the bank awards an interest rate of 7.50%, which gives North East Small Finance Bank the highest interest rate of 8% on deposits that they expire in 730 days to less than 1095 days. From 1096 days to less than 1825 days at 7% and from 1826 days to less than 3650 days at an interest rate of 6.25%. 

7-14 days 4.5%

15-29 days 4.5%

30-45 days 4.5%

46-90 days 4.5%

91-180 days 5%

181-364 days 5.75%

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 6.25%

Jana Small Finance Bank latest FD interest rates for senior citizens effective 11 August

Jana Small Finance Bank awards interest of 4% to 8% on deposit contracts ranging from 7 days to 10 years. The bank grants the highest interest rate for deposits with a maturity period of 2 to 3 years. These deposits will generate an interest of 8% for the elderly. The latest FD interest rates from Jana Small Finance Bank are effective as of August 11 

7-14 days 4%

15-60 days 4.75%

61-90 days 6%

91-180 days 6.5%

181-364 days 7%

1 Year[365 Days] 7.4%

> 1 Year - 2 Years 7.5%

>2 Years-3 Years 8%

> 3 Year- < 5 Years 7.5%

5 Years 7.5%

> 5 Years - 10 Years 7%

Also Read: New debit card, credit card rules from today: 10 things to know

  • Share
Subscribe now