After the Reserve Bank of India (RBI) reduced the repo rate three times in a row, banks have reduced the interest rate on FDs. Due to this, the return on FDs has reduced significantly. The biggest loss has been suffered by senior citizens because they are very dependent on FDs. However, it is not that the option has ended. Many banks are still giving better interest on FDs. We are telling you about such banks, which are giving up to 8.50% interest on 3-year FDs.

Opportunity in small finance banks

Utkarsh Small Finance Bank is offering an interest rate of 8.50 percent to senior citizens on 3-year FDs. If a senior citizen makes an FD for three years in this bank, then 1 lakh will increase to Rs 1.26 lakh. Jana Small Finance Bank offers an interest rate of 8.25 percent on FDs with a tenure of three years. If a senior citizen invests Rs 1 lakh, then this amount will increase to Rs 1.25 lakh on maturity.

Yes Bank is also giving better interest

Suryoday Small Finance Bank offers an interest rate of 8.15 per cent on three-year FDs. A deposit of Rs 1 lakh will become Rs 1.24 lakh on maturity. Yes Bank offers an interest rate of 7.85 per cent on three-year FDs for senior citizens. An investment of Rs 1 lakh will become Rs 1.24 lakh on maturity. Bandhan Bank, Equitas Small Finance Bank and Unity Small Finance Bank offer an interest rate of 7.75 per cent on three-year FDs for senior citizens. This means an investment of Rs 1 lakh will become Rs 1.23 lakh on maturity. Ujjivan Small Finance Bank and RBL Bank offer an interest rate of 7.70 per cent. An investment of Rs 1 lakh will become Rs 1.23 lakh on maturity.

There is an opportunity to invest in these banks as well

Indusind Bank offers 7.50 percent interest rate on 3-year FD. If you invest Rs 1 lakh, the amount will become Rs 1.23 lakh on maturity. DCB Bank, IDFC First Bank and Jammu and Kashmir Bank offer 7.25 percent interest rate. This means that an investment of Rs 1 lakh will become Rs 1.22 lakh on maturity.

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There was doubt about the stance of banks when once again there was no change in the repo rate by RBI . Consumers were wondering whether after this the banks will increase or reduce the interest rate? However, recently many banks have increased interest rates . There are still many banks that are offering interest rates of 9% and above on fixed deposits (FD) to senior citizens. Interest rates are available on FDs less than Rs 2 crore. Let us know about some such banks which are providing interest rate of more than 9% to senior citizens on FD.

Unity Small Finance Bank

Unity Small Finance Bank offers senior citizens an interest rate of 9.5% on FDs maturing in 1001 days.

Fincare Small Finance Bank

Fincare Small Finance Bank offers an interest rate of 9.21% to senior citizens on FDs maturing in 750 days.

Utkarsh Small Finance Bank

Utkarsh Small Finance Bank offers an interest rate of 9.1% to senior citizens on FDs maturing between two to three years.

Equitas Small Finance Bank

Equitas Small Finance Bank offers 9% interest rate to senior citizens on FDs maturing in 444 days.

ESAF Small Finance Bank

ESAF Small Finance Bank offers 9% interest rate to senior citizens on FDs maturing between two to three years.

Jana Small Finance Bank

Jana Small Finance Bank offers an interest rate of 9% on FDs maturing between more than two years to less than three years.

Kotak Mahindra increased interest rates

Kotak Mahindra Bank has increased the interest rate on tenure of 3 years and above but less than 4 years by 50 bps to 7% from 6.50% and on tenure of 4 years and above but less than 5 years by 75 bps to 6.25%. From 7%. The bank offers interest rates between 2.75% to 7.25% to general citizens and 3.25% to 7.75% to senior citizens.

DCB Bank FD Rates

The bank has increased the interest rate for general citizens by 10 bps from 7.75% to 7.85% on tenure from 12 months 1 day to 12 months 10 days. For senior citizens, it has been increased from 8.25% to 8.35% over the same period.

ICICI and HDFC increased rates

The largest private sector banks, HDFC and ICICI Bank have given great news to the customers. Both banks have made changes in their interest rates on FD (Fixed Deposit). According to the bank, the lowest FD rate of 4.75% is offered for tenure between 7 days to 14 days and the highest FD rate of 7.25% is offered for tenure between 390 days to 15 months. At the same time, HDFC Bank has made changes in fixed deposit rates for amounts above Rs 5 crore, effective from December 5, 2023.

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The biggest power that senior citizens have is their savings, hence they look for ways of investment where they can get guaranteed and better returns. For most senior citizens, fixed deposit i.e. FD is an excellent means of investment. Generally, Small Finance Banks offer higher interest on FD as compared to big government and private banks. Here we are going to tell about some small finance banks which provide more than 9 percent interest rates on FD to senior citizens.

Equitas Small Finance Bank

Equitas Small Finance Bank offers FD interest rates ranging from 4 percent to 9 percent to general customers for periods between 7 days to 10 years. The highest interest rate of 9 percent is being offered on FD maturing in 444 days. Senior citizens get 0.50 per cent extra over the rates offered to general investors. These rates are applicable from August 21, 2023.

Fincare Small Finance Bank

Fincare Small Finance Bank is offering FD interest rates to senior citizens ranging from 3.60 percent to 9.21 percent for tenure between 7 days to 10 years. Highest interest rate of 9.21 percent on FD maturing in 750 days. Are being offered. These rates are applicable from October 28, 2023.

Jana Small Finance Bank

Jana Small Finance Bank is offering interest rates ranging from 3.50 percent to 9 percent to senior citizens for tenures between 7 days to 10 years. The highest interest rate of 9 percent is offered on FDs maturing in 365 days. These rates are applicable from January 2, 2024.

Suryoday Small Finance Bank

Suryoday Small Finance Bank is offering interest rates ranging from 4.50 percent to 9.10 percent to senior citizens for tenures between 7 days to 10 years. The highest interest rate of 9.10 percent is offered on FDs maturing in 2 years and 2 days. These rates are applicable from December 22, 2023.

Unity Small Finance Bank

is offering FD interest rates ranging from 4.50 percent to 9.50 percent to senior citizens for maturing periods between 7 days to 10 years. The highest interest rate of 9 percent is offered on FDs maturing in 1001 days. These rates are applicable from February 2, 2024.

Utkarsh Small Finance Bank

Utkarsh Small Finance Bank is offering interest rates ranging from 4.60 percent to 9.10 percent to senior citizens for a tenure between 7 days to 10 years. The highest interest rate of 9.10 percent is offered on FDs maturing between two years to three years. These are applicable from 21st August 2023.

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If you also want to keep money in FD, then it would be better to turn to small finance banks. For some time now, all banks have increased the interest rates on FD. Despite this, the interest rates in State Bank of India, Punjab National Bank and other big banks are low. Interest rates are much better in small finance banks. Let us know how much return is being received in which bank.

Keeping money in Fixed Deposit (FD) is considered very safe. Now, there is a government guarantee on the amount kept in banks up to Rs 5 lakh. Guarantee means that if the bank collapses, you will definitely get Rs 5 lakh. With this guarantee, FD in banks has been made even more effective.

AU small finance bank: If you deposit money in this bank for a period of 18 months, you will get interest at the rate of 8 percent. Since interest is earned on interest, the annual interest rate will be 8.24%.

Equitas Small Finance Bank: You can get 8.20 percent interest on FD for one year. You get 8 percent interest on deposits for 3 years, and up to 7.25 percent interest on keeping money in FD for 5 years.

Fincare Small Finance Bank: You can get interest up to 8.11 percent on making FD in this bank. This interest will be available on keeping the money for 3 years. 8 percent interest is being given for 5 years.

Jana Small Finance Bank: This bank offers 8.50 percent interest rate on keeping money for 1 year. If money is kept for 3 and 5 years, 7.25 percent interest will be given.

Suryoday Small Finance Bank: If you make FD in this bank for 3 years, you will get interest at the rate of 8.60 percent per annum. The interest will be 8.25 percent for 5 years.

Ujjivan Small Finance Bank: In this bank, 8.25 percent annual interest is offered on FD for 1 year. 7.20 percent interest is given for the period of 3 and 5 years.

Unity Small Finance Bank: If you keep money in Unity Small for 3 and 5 years, you will get 8.15 percent interest. If you keep the money only for one year, you will get interest at the rate of 7.85 percent.

Utkarsh Small Finance Bank: If you want to keep money in this bank for 3 years, you can get 8.50 percent annual interest, whereas for 1 year you will get 8 percent interest.

Let us tell you that this interest rate is till 19 February 2024. Banks can make changes in these at any time. Also note one tip that if you have to keep more than Rs 5 lakh in FD, then keep it in different banks. If any bank collapses under any circumstances, you can get back Rs 5 lakh kept in the bank.

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Although there are many investment options available in the market. But even today Fixed Deposit (FD Rates) is considered the safest and best option. In which investors get a return in a fixed time. There is no effect of market fluctuations on this. At present, many big banks are giving better returns to their customers on fixed deposits. But today we have brought for you information about FD rates of some such banks in which customers are being given huge returns in just three years.

AU Small Finance Bank and Equitas Small Finance Bank

are offering 8 percent interest to customers making three-year fixed deposits in AU Small Finance Bank and Equitas Small Finance Bank. If an investor invests Rs 1 lakh in these FDs, then after three years this amount will become Rs 1.27 lakh. This FD, which gives huge returns in such a short period of time, remains a favorite of the people.

Suryoday Small Finance Bank

Suryoday Small Finance Bank is offering 8.60 percent interest to bank customers on three-year FD. If you invest in this FD scheme for three years, then after three years you will get 1.27 percent interest.

Deutsche Bank

Deutsche Bank is also giving tremendous returns to its customers on FD. You would be given 7.75 percent interest on FD only for three years. If you invest Rs 1 lakh in Deutsche Bank’s FD scheme for three years, then after three years you will get a return of Rs 1.26 lakh.

That means, if you want to invest your money for three years in a place where you get good returns and there is no risk of market fluctuations, then you can invest in these three banks.

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Savings accounts continue to be the choice of a large number of people despite their low returns as compared to other avenues. The reason for this is the many wonderful facilities customers get with the savings account.

But what if you get good interest on savings account itself… Today we are going to tell you about those 6 banks, which are currently giving up to 7% interest on savings account.

Airtel Payments Bank: This is a completely digital and paperless bank. It is paying interest at the rate of 7 per cent on savings account with a balance of Rs 1 lakh to Rs 2 lakh. At the same time, it is paying interest at the rate of 2 per cent on balance up to Rs 1 lakh.

ESAF Small Finance Bank: This bank is offering 4 per cent interest on balances up to Rs 5 lakh, while 6.5 per cent interest is being offered on balances above Rs 15 lakh.

Equitas Small Finance Bank: In this bank, interest is being given at the rate of 3.5 per cent up to Rs 1 lakh, 5.25 per cent from Rs 1 to 5 lakh and 7 per cent on balance above Rs 5 lakh.

Fincare Small Finance Bank: This bank is paying 6.11 per cent interest on balance between Rs 1 lakh and Rs 5 lakh and 7.11 per cent interest on balance above Rs 5 lakh.

Suryoday Small Finance Bank: This bank is paying 6.75 per cent interest on balance between Rs 1 lakh and Rs 5 lakh and 7 per cent interest on balance above Rs 5 lakh.

AU Small Finance Bank: In this bank, interest is being offered at the rate of 7% on balance more than Rs 25 lakh but less than Rs 1 crore.

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That is, FD investors will get more benefit by investing money in these two banks. Let us know what will be the interest rates on FDs in these two small finance banks.

Rates on FD in Equitas Small Finance Bank

After increasing interest rates on fixed deposits, this small finance bank will have an interest rate of 8.20 per cent for a period of 888 days for an investment of less than two crore rupees. Apart from this, interest will be given at the rate of 7.75 percent on FDs with a tenure of 2 years, 1 day to 887 days. At the same time, here the interest rate on fixed deposits ranging from 1 year to 18 months has been 7.70 percent. At the same time, the bank will pay interest at the rate of 7.50 percent on FDs ranging from 18 months, 1 day to 2 years.

Rates on FD in Suryoday Small Finance Bank

Suryoday Small Finance Bank (SSFB) has increased interest rates on fixed deposits by 75 basis points to 125 basis points. The bank has also changed the interest rates on savings account by up to 200 basis points.

After this change, the bank will get interest between 4.00 per cent to 8.51 per cent for general category and 4.50 per cent to 8.76 per cent for senior citizens. General customers can now get an interest rate of 8.51 per cent by depositing money for 999 days. At the same time, senior citizens can get interest at the rate of 8.76 percent. Customers of savings account in the bank also get an interest rate of up to 7 percent.

Let us tell you that amidst the volatility in the stock markets, everything is looking good for the Fixed Deposit investors as almost all the banks are offering interest giving inflation beating returns. As the Reserve Bank of India (RBI) has increased the repo rate for six consecutive times and banks have increased the interest rates on FDs throughout the investment period. In the 10 months of 2022, inflation has been more than 6 percent.

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Bank FD Rates: Many banks have increased the interest rate on fixed deposits (FDs) with a tenure of three years for senior citizens. RBI has increased the repo rate for four consecutive times this year. Recently, Bandhan Bank has increased the interest rate of FD of 600 days.

Whereas for non-senior citizens, the interest rate for a normal FD of 600 days is 7.5 percent. Bandhan Bank is offering up to 8 percent interest to senior citizens aged 60 years and above. Small and new private banks are now giving interest of up to 8 percent to senior citizens on FDs of three years.

Senior citizens should invest some part of their savings in FDs, from which they will continue to earn income on a regular basis. Savings are used to build an emergency fund. Although bank FDs are taxed, the minimum tax slab for most senior citizens ensures that the tax liability is minimal or zero if the other income is zero.

Now let us tell you which banks are giving the highest interest on three-year FD to senior citizens.

• DCB Bank and Bandhan Bank are offering 8 percent interest to senior citizens on three-year FDs. This is the highest interest rate among private sector banks. AU Small Finance Bank is also offering interest at the rate of 8 per cent to senior citizens on FDs of three years. This is the best interest rate among other small finance banks. This means that Rs 1 lakh invested will increase to Rs 1.27 lakh in three years.
• Equitas Small Finance Bank is offering interest at the rate of 7.90 percent to senior citizens. That is, if you invest Rs 1 lakh, it will increase to Rs 1.26 lakh in three years.
• IndusInd Bank, Yes Bank and Suryoday Small Finance Bank are offering interest at the rate of 7.50 per cent to senior citizens on three-year FDs. Rs 1 lakh will increase to Rs 1.25 lakh in three years.
• Union Bank is giving interest at the rate of 7.30 percent to senior citizens on FDs of three years. This is the highest interest rate among public sector banks. In three years, your investment of Rs 1 lakh will increase to Rs 1.24 lakh.
• Ujjivan Small Finance Bank is offering interest at the rate of 7.25 percent to senior citizens on FDs of three years. In three years your Rs 1 lakh will increase to Rs 1.24 lakh.
• RBL and Axis Bank are offering interest at the rate of 7.05 per cent to senior citizens for three-year FDs. That is, in three years, Rs 1 lakh will increase to Rs 1.23 lakh.

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