Suryoday Small Finance Bank FD Rates: While major banks like SBI, HDFC, and ICICI are cutting interest rates on fixed deposits (FDs), Suryoday Small Finance Bank (SSFB) has gone in the opposite direction and raised FD interest rates.
The bank has increased rates by 41 basis points (bps) for FDs up to Rs 3 crore, offering higher returns for investors.
New Interest Rates
For Regular Customers: The bank now offers interest rates ranging from 4% to 8.60%.
For Senior Citizens: The interest rates range from 4.5% to 9.10%.
The highest interest rate of 8.60% for regular customers and 9.10% for senior citizens is available on FDs with a tenure of 5 years and 1001 days.
FD Interest Rates for Different Tenures:
1-year FD: 7.90% (regular customers), 8.40% (senior citizens)
Up to 15 months: 8.00% (regular), 8.50% (senior citizens)
18-month FD: 8.25% (regular), 8.75% (senior citizens)
30 to 36 months: 8.40% (regular), 8.90% (senior citizens)
Up to 10 years: 7.25% (regular), 7.75% (senior citizens)
Recurring Deposit (RD) Interest Rates:
12-month RD: 7.90% (regular), 8.40% (senior citizens)
5-year RD: 8.60% (regular), 9.10% (senior citizens)
Safety of Investment:
Suryoday Small Finance Bank’s FDs are covered under DICGC insurance, meaning each depositor is protected up to Rs 5 lakh.
This makes the bank’s FD and RD schemes a safe investment option with competitive interest rates.
Why Choose Suryoday Small Finance Bank?
With other banks reducing rates, this is a good opportunity for senior citizens and regular customers to invest in FDs and RDs at higher rates.
However, make sure to check the bank’s rating before making an investment.
