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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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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8.50% interest is being given to senior citizens on FDs for 2 to 3 years. According to the official website of the bank, the new rates on the bank’s FD will be applicable from February 15, 2023. The bank has increased the interest on fixed deposits above Rs 2 crore. After increasing the repo rate of RBI, most all the banks are increasing the interest on FD.

ESAF Small Finance Bank FD Rates

ESAF Small Finance Bank (SFB) is offering a maximum interest of 8.60% to senior citizens and 8.00% to general public. These new rates are being given on new FDs and renewable FDs. These new rates will not be applicable on existing running FDs.

Getting so much interest

The bank is now offering interest on FDs maturing in 7 days to 10 years. SFB is offering 4.00% to 8.10% interest to general public and 4.50% to 8.60% interest to senior citizens. The bank is paying 8.10 per cent interest to common people and 8.60 per cent to senior citizens on FDs maturing in 999 days. The bank is offering the highest interest on FDs of 999 days only.

These are the interest rates

ESAF Small Finance Bank is offering 4.00% interest on FDs maturing in 7 to 14 days. Apart from this, ESAF Small Finance Bank is offering an interest of 4.50% on deposits maturing in 15 to 59 days, 5.00% on FDs maturing in 60 to 90 days. ESAF Small Finance Bank is paying 5.25% interest on FDs maturing in 91 to 182 days.

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Post revision, the bank is currently offering interest rates on deposits maturing in 7 days to 10 years which ranges from 4.00% to 5.25% for general public and 4.50% to 5.75% for senior citizens. The bank is now offering a maximum return of 8.00% for general public and 8.50% for senior citizens for a deposit period of 999 days (2 years 8 months and 25 days).

Know interest rates for all maturity periods

The bank is now offering an interest rate of 4.00% on deposits maturing in 7 to 14 days, while ESAF Small Finance Bank (SFB) is also offering an interest rate of 4.00% on deposits maturing in the next 15 to 59 days is offering an interest rate of 4.50%. Deposits of 60 days to 90 days will now fetch interest at the rate of 5.00%, while deposits of 91 days to 182 days will fetch interest at the rate of 5.25%.

Deposits with maturity between 183 days and 1 year will now fetch interest at the rate of 5.50%, while deposits with maturity of 1 year and 1 day and less than 2 years will now fetch 7.50%. The bank is now offering an interest rate of 7.75% on deposits maturing in 2 years to 998 days, while ESAF Small Finance Bank (SFB) is currently offering an interest rate of 7.75% on deposits maturing in 999 days (2 years 8 months and 25 days) Offering a maximum interest rate of 8.00%.

The interest rate on deposits maturing in 1000 days to less than 3 years is currently 7.75%, while the interest rate on deposits maturing in 3 years to less than 5 years is 5.75%. Deposits with maturity between five and ten years will now get interest at the rate of 5.25%. For all deposit tenures, senior citizens will continue to get an additional rate of 50 bps over and above the regular rates.

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The bank is offering 8 percent interest to the general public under this special scheme. An additional 0.50 percent interest is paid to senior citizens. Subscription of this special FD plan can be taken till November 30.

Here is the revised FD rates

The bank has announced the revision saying that FDs maturing in 7 to 14 days from November 1 will get an interest of 4 per cent. 4.50 interest will be available on FD of 15 to 59 days. 5 percent interest will be given on FDs maturing in 15 to 59 days. Interest of 5.25 percent will be given on FDs maturing in 91 to 182 days.

Here are the new rates

The bank is offering 5.50 percent interest on FDs ranging from 183 days to one year. 6.60 per cent interest is being offered on FDs maturing in less than 2 years from 1 year and 1 day. Interest of 7.25 percent is being given on FDs maturing in 2 years to 998 days. Now 8 percent interest is being given on FDs maturing in 999 days. Apart from this, an interest of 7.25 percent is being given on FDs maturing in 1000 days or less than 3 years. 5.75 percent interest will be available on FDs of 3 years to less than 5 years. Interest of 5.25 percent is being given on FDs of 5 to 10 years.

Senior citizens will get extra interest

The bank is giving an extra 0.50 percent interest from the normal rates to the senior citizen FD account holder. These rates will be applicable for all FDs of Rs 2 crore or less. ESAF Small Finance Bank has told on its official website that all these rates will be applicable on FDs less than 2 crores. These revised rates of FD will be available to new FDs and renewing FDs only.

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If you also want to get strong returns by investing in Fixed Deposits in a safe way, then this news is for you only. Actually, ESAF Small Finance Bank (ESAF SFB) has come up with a special scheme of FD for the investors. The maturity period in this special FD scheme, launched after the increase in the repo rate, will be 999 days. In this, 8 percent interest will be given to the general public and 8.50 percent to senior citizens. This special FD program will be available till 30 November 2022.

In addition to this limited time offer, ESAF Small Finance Bank has revised interest rates on fixed deposits below Rs 2 crore. The bank is now offering interest rates ranging from 4.00% to 5.25% for general public and 4.50% to 5.75% for senior citizens on FDs with maturities ranging from 7 days to 10 years.

RBI has increased the repo rate for the fourth time in a row, RBI has increased the
repo rate for the fourth time in a row to stop the rising inflation in the country. Now the repo rate has reached 5.90 percent. In the MPC meeting of RBI on September 30, it has been decided that the repo rate will be increased by 0.50 percent for the fourth consecutive time. Now the repo rate has been increased from 5.40 percent to 5.90 percent. Earlier, after 0.40 per cent increase in May, there was an increase of 0.50-0.50 per cent in June and August.

Many banks have increased the rates of fixed deposits.

It is noteworthy that recently RBL Bank, Axis Bank, CSB Bank Ltd., Kotak Mahindra Bank, Canara Bank, Indian Overseas Bank etc. have also increased their FD rates. This process of increasing the rates has started after the increase in the repo rates by the RBI.

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In such a situation, the Reserve Bank of India had announced a hike in prime lending rates in June, which prompted banks to increase FD interest rates. Now that some lenders are offering higher interest rates for senior citizens on certain tenures, let us know which banks are offering higher interest rates on FDs to senior citizens.

Ujjivan Small Finance Bank

It is offering interest rates of up to 7.30 per cent for small finance lenders with tenures as low as 18 months and one day in 24 months. At the same time, for 15 months one day to 18 months is 7.70 percent. USFB offers the highest interest rate of 7.20 per cent for tenures ranging from 24 months one day to 989 days. At the same time, it offers an interest rate of 7.80 percent for a tenor of 24 months. Apart from this, the interest rate for 990 days and 42 months from 1 day to 60 months is 7.40 percent.

Utkarsh Small Finance Bank

The highest interest rate offered by the lender is 7.75 per cent for a tenure of 700 to 1000 days. It offers 7.40 per cent for tenures ranging from 365 to 699 days and 7.25 per cent for tenures ranging from 1001 to 5 years.

Suryodaya Small Finance Banks

The bank offers the highest interest rate of 7.99 per cent for a tenure of 999 days. Offers an interest rate of 7.50 per cent on tenures ranging from 2 years to 998 days and 1000 days to 3 years. The bank offers an interest rate of 7.25 per cent for a tenure of 5 years.

ESAF Small Finance Bank

The bank offers the highest interest rate of 7.75 per cent for a tenure of two to three years. The bank offers an interest rate of 7.10 percent on tenors ranging from 1 year 1 day to less than 2 years.

Fincare Small Finance Bank

The highest rate of interest offered by Fincare Small Finance Bank is 7.50 percent for 59 months to 66 months and 36 months 1 day to 42 months. It offers an interest rate of 7.25 per cent over a period of 42 to 59 months.

Equitas Small Finance Bank

This bank offers the highest interest rate of 7.50 per cent for a tenure of 888 days. It offers 7.40 percent interest on tenors ranging from 889 days to 3 years. The bank offers an interest rate of 7.10 per cent for tenures ranging from one year to 18 months.

AU Small Finance Bank

This Jaipur based lender offers the highest interest rate of 7.40 per cent for tenures of 24 to 45 months and 60 to 120 months. It offers 7.10 percent on tenures ranging from 12 months and 1 day to 15 months.

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Due to this, the attraction of people towards FD has increased again. However, most of the government and private banks are still not offering inflation-beating returns on FDs. Retail inflation declined marginally to 7.01 per cent in June. When you invest in an FD, it is better that you get returns above the inflation rate. Today we will tell you about some such FDs of Small Finance Banks, which are offering inflation-beating returns.

Ujjivan Small Finance Bank

This bank is currently offering 7.20 per cent return on FDs of less than Rs 2 crore from general customers. This return is on FDs of 2 maturity periods. 990 days on FDs and 42 months on single day to 60 months FDs. At the same time, the bank is offering 0.50 percent higher interest rate to senior citizens. The bank last changed its interest rates on June 13, 2022.

Jana Small Finance Bank

This small finance bank is offering high interest rate on FD ranging from 7.25 to 7.35 to the general citizens. At the same time, 8.05 percent to 8.15 percent interest rate is being offered on FDs from senior citizens. General and senior citizens can get this bumper return on FDs ranging from one year to 5 years.

ESAF Small Finance Bank

This bank is offering 7.25 percent return on FD to the general citizens. At the same time, 7.75 percent interest rate is being offered to senior citizens. This interest rate is being offered on FDs with tenures ranging from 2 years to less than three years.

Suryoday Small Finance Bank

This small finance bank is currently offering 7.49 percent interest rate to the customers. At the same time, 7.99 percent interest rate is being offered from senior citizens. This interest rate is being offered to customers on 999 days FD.

Utkarsh Small Finance Bank

This small finance bank is currently offering 7.25 percent interest rate on FDs of 700 to 1000 days. At the same time, 7.75 per cent return is being offered to senior citizens on FDs of this period.

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