These small finance banks are offering up to 9.5 percent interest rate on FD in 2023

Apr 2, 2023

By: Rahul Verma

FD in 2023

Indian banks have raised their FD rates since May 2022 in response to the Reserve Bank of India's repo rate hikes. This is a positive time for cautious investors, but larger banks have yet to reach 9 percent rates, while some small finance banks offer 9 percent or higher.

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Unity Small Finance Bank

The bank provides fixed-term deposits for senior citizens, offering interest rates between 4.50 to 9.50 percent. The highest interest rate of 9.50 percent is given for a 1001-day tenure. Additionally, tenures of 181-201 days and 501 days offer a 9.25 percent interest rate.

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Utkarsh Small Finance Bank

The bank provides fixed-term deposits for senior citizens with interest rates ranging from 4.75 to 9 percent. A 700-day tenure provides the highest interest rate of 9 percent.

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Fincare Small Finance Bank

Fincare Small Finance Bank now offers senior citizens fixed deposit interest rates ranging from 3.60 to 9.01 percent for balances under Rs 2 crore. The highest interest rate of 9.01 percent is available for a 1001-day tenure.

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Suryoday Small Finance Bank

The bank offers the highest 8.51 percent interest on FD, followed by 7 percent interest for one year and 7.25 percent interest for three years.

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Equitas Small Finance Bank

It offers a maximum interest rate of 8.20 percent. 7.70 percent of the interest rate for 1 year and 7.75 percent of the interest rate for three years.

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Jana Small Finance Bank

Jana Small Finance Bank provides fixed deposit rates ranging from 3.75- 8.15 percent p.a. for the general public and 4.45- 8.85 percent p.a. for senior citizens. The bank offers FD tenures from 7 days to 10 years.

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ESAF Small Finance Bank

ESAF fixed deposit interest rates are available for the general public in the range of 4.00- 8.10 percent p.a., while senior citizens can enjoy rates ranging from 4.50- 8.60 percent p.a.

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Bandhan Bank

Bandhan Bank offers FD rates ranging from 3- 8 percent p.a. to the general public and 3.75-8.50 percent p.a. to senior citizens for tenures ranging from 7 days to 10 years.

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