Fixed Deposit Interest Rate Hike : Fincare Small Finance Bank ( FSFB ) has revised its FD interest rates for senior citizens and others. The bank has said that Fincare FD customers can earn up to 8.51% returns on their savings.
Not only this, the bank is offering senior citizens a return of up to 9.11% on a minimum FD of Rs 5000. The new rates have come into effect from today i.e. 25 May.
Returns up to 9.11% for senior citizens
Fincare Bank is offering 9.11% interest on 1000 days FD to senior citizens. This is the highest interest rate offered by this bank over different tenures. For common citizens, the interest rate on FD of 1000 days is 8.51 percent.
How much interest will be received on FD of different periods
The bank is offering 8.6 percent interest to senior citizens and 8 percent interest to others on FDs ranging from 59 days 1 day to 66 months. On FDs ranging from 66 months 1 day to 84 months, senior citizens will get a return of 7.6 per cent and others up to 7 per cent. The bank is also offering 8.85 per cent interest to senior citizens on deposits of 36 months 1 day to 42 months, while general citizens will get 8.25 per cent interest on FDs of the same tenure.
These banks also increased interest rates
Let us tell you that recently Suryoday Small Finance Bank has also announced an increase in FD rates. This bank is offering up to 9.6 percent interest to senior citizens. Unity Small Finance Bank has also announced a maximum interest of 9.5 per cent for senior citizens.
The bank said in its statement that better FD rates can be availed at Fincare Bank. For this, the customer can visit the bank branch or login to internet banking or mobile app to open the FD account.