At the same time, the bank has offered senior citizens an additional interest rate on FD investment. Dhanlaxmi Bank gives customers the opportunity to invest on FDs ranging from 7 days to 10 years. According to the official website of the bank, the bank has offered a minimum interest rate of 3.25% to 7.25% on FD investment with maturity of 7 days to 10 years. Senior investors will be given the benefit of additional interest rate. The new rates are effective from 3 May 2023.

Dhanlaxmi Bank FD Interest Rates

• The bank will now pay an interest rate of 3.25% on FDs maturing in 7 to 14 days.
• Dhanlaxmi Bank will pay an interest rate of 5.75% on FDs maturing in 15 to 45 days.
• Will give an interest rate of 6.25% on deposits with a tenure of 91 days to 179 days.
• An interest rate of 6.00% is offered on FDs of 46 days to 90 days.
• Interest will be given at the rate of 6.50% on FDs maturing in 180 days or less than one year.
• FDs with a tenure of 1 year and more than 2 years will earn interest at the rate of 6.75%.
• 7.25 percent interest rate will be given on FDs maturing in 555 days (18 months and 7 days).
• 6.50% interest rate is offered for FDs above 2 years and up to 5 years.

Additional Interest Rate to Senior Citizens

Senior citizens are eligible for an additional interest rate of 0.50% per annum as per Dhanlaxmi Bank website. The bank said that except for Dhanam Tax Advantage Deposit Scheme, seniors will continue to get the benefit of additional interest rate on all domestic FDs of 1 year or more.

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At the same time, Small Finance Banks are giving interest of 8.50 percent for common people to senior citizens. Although some small finance banks are giving up to 9 percent interest for senior citizens.

FD investment can be a good option for some people, but experts believe that FD rates may increase further. In such a situation, if you are also thinking of investing in these small finance banks for 9 percent interest, then know what you should do, so that no problem arises. 

Which banks are giving interest up to 9 percent 

• Suryoday Small Finance Bank is giving 8.51 percent interest to common people and 8.76 percent to senior citizens on 999 days FD.
• Unity Small Finance Bank is giving 8.50 percent interest to common people and 9.00 percent interest to senior citizens on 181 and 501 days.
• Ujjivan Finance Bank is paying 8.20% interest on deposits with a tenure of 560 days.
• ESAF Small Finance Bank is giving 8% interest to common people and up to 8.50% to senior citizens on 999 days FD.
• Utkarsh Small Finance Bank is paying 8.25 per cent interest for general citizens and 9 per cent interest for senior citizens on 700 days FD. 

Keep these things in mind before investing 

If you are planning to invest in these small finance banks, then you should pay special attention to some things. Before taking the risk, it should be checked whether this bank is in trouble or not. Up to Rs 5 lakh is insured under the Deposit Insurance Scheme of RBI. In this insurance you get both the principal amount and the interest. If you invest in it, you can also take additional insurance.

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