If you want to get safe returns by investing your savings in the near future, then Fixed Deposit (FD) can be a great option for you. Still Indian customers prefer to invest in fixed deposits. By investing in fixed deposits, customers get guaranteed income after a fixed period. In such a situation, apart from banks, non-banking financial companies (NBFCs) are also offering bumper interest on FD to their customers. Let us know about 3 such non-banking financial companies which are giving more than 9% interest to their customers on FD.

Suryoday Small Finance Bank
Suryoday Small Finance Bank is offering 9.10% interest to its general customers on 5 year FD. Whereas the bank is offering interest up to 9.60% to its senior citizen customers for the same period.

Unity Small Finance Bank
Unity Small Finance Bank is giving 9% interest to its general customers on FD of 1001 days. At the same time, the bank is offering 9.50 percent interest to its senior citizen customers for the same period.

Fincare Small Finance Bank
Fincare Small Finance Bank is giving 8.51% interest to its general customers on FD of 1000 days. Whereas the bank is offering 9.11 percent interest to its senior citizen customers for the same period.

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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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RBI has issued a press release for this. According to this press release, this merger will be effective from April 1, 2024. This means that all branches of Fincare SFB will function as branches of AU SFB from April 1.

The central bank said the merger plan is one of the first such steps in the relatively new SFB sector. The Bank has been granted approval in exercise of the powers contained in sub-section (4) of Section 44A of the Banking Regulation Act 1949.

Last year, in October 2023, both the banks had announced the merger. The bank has set a target of RBI approval in February.

What will happen to the bank’s shares?

As per the agreement, shareholders of unlisted Fincare will get 579 shares of the listed AU SFB for every 2,000 shares they hold.

After the merger, FSFB shareholders will hold 9.9 per cent equity in AUSFB. After obtaining approval from RBI, the promoters of FSFB also agreed to infuse fresh capital of Rs 700 crore into the entity. When the bank announced this deal, there was uneasiness among the investors of AUSFB.

Fincare had announced that it can launch an IPO after this deal. Let us inform that after this merger, the total number of employees of AUSFB will exceed 15,000, which includes 10,000 employees in the MFI vertical.

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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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The bank is offering 9.11% interest to senior citizens investing on FD (Senior Citizen Fixed Deposit Interest Rates), while general investors are offered 8.51% interest rate. Let us tell you that in small care banks, the amount up to Rs 5 lakh is insured.

According to the website of Fincare Small Finance Bank, the bank operates FD schemes to invest in tenures ranging from 7 days to 10 years. The bank has increased the interest rates on FDs with effect from 25 May 2023.

The bank has said that common investors can get an interest rate of 8.51 percent on FDs maturing in 1000 days. For the same period, senior citizens will be given an interest rate of up to 9.11 percent. According to the bank, the minimum deposit amount to avail these interest rates is less than Rs 5,000 and the maximum is less than Rs 2 crore.

Fincare Small Finance Bank FD Interest Rates

• The bank will pay an interest rate of 3 percent for FDs maturing between 7 to 45 days.
• The bank will give 4.50 percent interest rate on FDs maturing between 46 and 90 days.
• The bank will pay 5.50 percent interest rate on FDs maturing between 91 and 180 days.
• The bank is offering an interest rate of 6.25 per cent for FDs with tenures of 181 and 365 days.
• Will pay 7.50 percent interest on FDs maturing between 12 months and 499 days.
• The bank is offering an interest rate of 8.11 per cent for FDs with a tenure of 500 days.
• The bank offers an interest rate of 7.50 per cent on FDs maturing between 501 days and 18 months.
• 7.80 percent interest rate is being given on FDs maturing in 18 months and one day and 24 months. The bank is offering 7.90 percent interest rate for FDs maturing in 24 months and one day to 749 days.
• Paying an interest rate of 8.31% for FDs maturing in 750 days.
• An interest rate of 8.25 percent is being given for FDs maturing between 36 months and 42 months.
• 7.50 percent interest is being given on FDs maturing in 42 months and one day to 59 months.
• The bank is offering 8 percent interest rate on FDs maturing in 59 months 1 day to 66 months.
• An interest rate of 7 percent has been offered on FDs maturing in 66 months 1 day to 84 months.

Senior Citizen FD Rates

Senior citizens from Fincare Small Finance Bank can avail interest rates ranging from 3.60 per cent to 9.11 per cent for tenures ranging from 7 days to 84 months.

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Now a bank has increased the interest rates on FD. Actually, Fincare Small Finance Bank has changed its FD interest rates for senior citizens and others. Recently, the bank said in a statement that common customers can earn up to 8.51 per cent interest on FDs and senior citizens can earn up to 9.11 per cent, but for this the minimum deposit should be Rs 5000. The revised rates have come into effect from May 25, 2023.

Up to 9.11 percent interest to senior citizens

Fincare Bank is offering 9.11 percent 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.

FD rates of Fincare Small Finance Bank

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 giving 8.85 per cent interest to senior citizens on deposits of 36 months 1 day to 42 months, while ordinary citizens will get 8.25 per cent interest on FDs of the same duration.

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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.

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These banks include Small Finance Bank, Ujjivan Bank, Jana Small Finance Bank, Fincare Small Finance Bank, Utkarsh Bank and Suryoday Bank and many smaller banks that promise better returns.

Investment amount is insured in small banks

Small Finance Banks (SFBs) continue to offer highest interest rates ranging from 8 percent to 9 percent on Fixed Deposits (FD) to common citizens. Remember that deposits under small finance banks are also covered by Deposit Insurance and Credit Guarantee Corporation (DICGC) insurance. Simply put, your FD deposits up to Rs 5 lakh are covered under the insurance scheme if the small finance bank fails or is placed under moratorium. So there is no loss of your money.

Fixed Deposit Rates of Unity Small Finance Bank

Unity Small Finance Bank is offering FDs of tenure ranging from 7 days to 10 years to its customers. The bank has increased the interest rates on FDs of all tenures from 15 February. Unity Small Finance Bank is paying 9.25% interest to senior citizens and 8.75% to general customers on 181-201 days and 501 days fixed deposits. Small Finance Bank is giving 9.00 percent interest rate to general customers on investment for 1001 days, while on the same tenure it has offered 9.50 percent interest rate to senior citizens.

Jana Small Finance Bank FD Rates

Jana Small Finance Bank offers interest rates between 3.75 percent and 8.10 percent to common citizens for FDs maturing between 7 days to 10 years. The interest rate for senior citizens on the same tenure ranges from 4.45 per cent to 8.80 per cent. The bank is offering the highest interest rate of 8.10 per cent (for general citizens) and 8.80 per cent (for senior citizens) on fixed deposits maturing between two years and three years.

Fincare Small Finance Bank FD Interest Rate

Fincare Small Finance Bank offers interest rates ranging from 3 percent to 8.11 percent for general customers and up to 8.71 percent for senior citizens investing on FDs maturing between 7 days and 10 years . Common citizens are given the highest interest rate of 8.11 percent on FDs maturing in 750 days. At the same time, for senior citizens, the interest on FD maturing in 750 days can go up to 8.71 per cent.

Ujjivan Small Finance Bank

Ujjivan Small Finance Bank gives interest rate between 3.75% to 8% to common citizens on FDs maturing between 7 days to 10 years. For common citizens, the highest interest rate on FD maturing in 560 days is 8 percent. At the same time, the bank offers the highest interest rate of 8.75 percent to senior citizens for investment on FDs maturing in 560 days.

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The reason for this is that since the increase in the repo rate, debt has become expensive, but investors are getting more returns on FDs. The name of Fincare Small Finance Bank has also been added in the race to increase the interest rate in FD. This bank has increased the interest on all FDs less than two crores. The new interest rates have come into effect from October 11.

Here are the new interest rates of the bank

Fincare Small Finance Bank will continue to offer interest @ 3% on Fixed Deposits maturing in 7 days to 45 days and 3.5% on FDs maturing between 46 days to 90 days. This bank will now pay 4.5% interest on FDs that mature between 91 and 180 days. While FDs maturing between 181 to 364 days will get 5.5% interest. The interest on fixed deposits maturing between 12 and 24 months will be 6.75%. Interest will be 7.25% for a period of 500 days and 7.75% for a period of 1000 days. 7% interest on FD of 24 months 1 day to FD of 48 months, 6.75 percent interest on FD of 48 months 1 day to 59 months. At the same time, interest will be given at the rate of 6 percent on FDs of 66 months 1 day to 84 months.

Senior citizens silver

Senior citizens have benefited a lot in terms of interest on FD. Fincare Small Finance Bank will now offer interest rate of 0.50 percent more than the standard interest rate on FDs of all tenors to senior citizens. Senior citizens will get interest in the range of 3.50% to 8.25% on fixed deposits maturing between 7 days to 10 years. Apart from this, even if they have a joint account with the bank and the first account holder is a senior citizen, they will still get the benefit of the new interest rates.

Why did the bank’s interest rate increase?

Explain that whenever the Reserve Bank increases or decreases the interest rates, it is passed on to all the bank customers because the interest rates on loans and other savings schemes are linked to the benchmark. Most banks offer higher interest rates to senior citizens on FDs or any other savings schemes. In September, RBI has increased the repo rate for the fourth time and with this, banks have also increased the interest rate on loans and savings schemes. In this episode, Fincare Small Finance has implemented new interest rates from October 11.

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