These banks are offering up to 9% interest rates on Fixed Deposits

NH Bureau Saturday, 11 July 2020 07:09:27 AM

New Delhi : At a time when pandemic has devastated the economy, leading many front line banks to cut the interest rates as low as 5% on Fixed Deposits, there are small finance banks which are still offering a high interest rate of up to 9% on the same saving schemes. Senior citizens get 50 basis points higher on these deposits as compared to general customers.

Here is a list of banks which are offering good interest rates on the Fixed Deposits:

Utkarsh Small Finance Bank latest FD interest rates effective 3 July

FDs with maturity period 7 days to 90 days and 46 days to 90 days will fetch 4% and 4.5% interest rate respectively. 181 Days to 364 Days 6.50%. For deposits maturing in one year to 699 days, the lender gives 7.75%. Utkarsh Small Finance Bank gives the highest interest rate on deposits maturing in 700 days. The bank gives 8% interest on deposits maturing in 700 days. For FDs maturing in 701 days to 3652 Days, Utkarsh Small Finance Bank gives 7.75%. Senior citizens will get 50 basis points (bps) extra on these deposits. Term deposits maturing in 7 days to 3652 days will give interest rate ranging from 4.5% to 8%.

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%

Suryoday Small Finance Bank latest FD interest rates effective 1 May

For deposits maturing in 7 to 45 days, Suryoday Small Finance Bank gives 4% interest. For 46 days to 90 days, 91 days to 6 months, Above 6 months to 9 months, the bank gives 5%, 5.5% and 6.50% interest respectively. FDs maturing in above 9 months to less than 1 year will fetch 7% interest and 1 Year to 2 Years will fetch 7.25%. Term deposits maturing in above 2 years to 3 years will give 7.50%. Deposits maturing in above 3 years to less than 5 years, the bank gives 7.75% interest rate.The bank gives highest interest for deposits maturing in 5 years at 8.75%. For FDs maturing in 5 to 10 years, Suryoday Small Finance Bank gives 7.25%

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%

5 years 9%

Above 5 years to 10 years 7.25%

North East Small Finance Bank latest FD interest rates effective 1 June

In North East Small Finance Bank, an FD can be opened for a period of 7 days to 10 years. For deposits maturing in 7 to 45 days, the bank gives 4% interest. For FDs maturing in 46 to 90 days and 91-180 days, North East Small Finance Bank gives 4.25% and 4.5% respectively. For 181-364 days, and 365 days to 729 days, the bank gives 5.5% and 7.50% interest rate respectively. North East Small Finance Bank gives the highest interest rate at 8% on deposits maturing in 730 days to less than 1095 days. For 1096 days to less than 1825 days 7% and 1826 days to less than 3650 days 6.5% interest rate.

7-14 days 4%

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%