Small finance banks are currently providing attractive interest rates on Fixed Deposits (FDs), exceeding 9 percent. These rates surpass those offered by both government and private banks.
However, it’s essential to weigh the associated risks, which tend to be slightly higher with small finance banks.
Interest Rates Offered by Small Finance Banks
Here’s a breakdown of the interest rates available on FDs offered by various small finance banks for deposits up to Rs 2 crore:
All Banks:
Unity Small Finance Bank
Offering 9% interest on FDs maturing in 1001 days.
Suryoday Small Finance Bank
Providing 8.65% interest for FDs maturing in two years and two days.
Ujjivan Small Finance Bank
Offering 8.5% interest for FDs maturing in 15 months.
Jana Small Finance Bank
Providing 8.5% interest for FDs maturing in 365 days.
Equitas Small Finance Bank
Offering 8.5% interest for FDs maturing in 444 days.
Utkarsh Small Finance Bank
Providing 8.5% interest for FDs maturing between two to three years.
ESAF Small Finance Bank
Offering 8.25% interest for FDs maturing between two to less than three years.
AU Small Finance Bank
Providing 8% interest for FDs maturing in 18 months.
These rates are subject to change and may vary based on the bank’s policies and prevailing market conditions.
Before investing, it’s advisable to conduct thorough research and consider your risk tolerance and investment objectives.
