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Bank fixed deposit: These 3 banks are offering up to 7.5% interest on FDs | Check latest rates

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Bank fixed deposit: These 3 banks are offering up to 7.5% interest on FDs | Check latest rates 

Many banks are even offering interest rates on fixed deposits (FDs) starting from 7 p.c to 7.5 p.c. Fixed deposits starting from 7 days to 10 years are supplied by prime lenders just like the State Bank of India (SBI), ICICI, HDFC Bank, Axis Bank and others. At current, SBI presents an interest rate of 4.90% for a tenure between 1 yr and a couple of years for deposits up to Rs 2 crore.

As in contrast to business banks, small finance banks usually supply larger interest rates on fixed deposits. Presently, a number of banks are offering interest rates starting from 2.5 per cent to 7.5 per cent on FDs.

Jana Small Finance Bank

Jana Small Finance Bank presents interest rate between 2.5 per cent and seven.50 per cent on FDs starting from 7 days to 10 years. The financial institution provides an extra interest of 0.50 per cent to senior residents. Jana Small Finance Bank provides the very best interest rate on deposits maturing in two years to three years.

On these deposits, the lender provides an interest rate of seven.25 per cent and seven.75% per cent to clients and senior residents respectively. The financial institution’s latest FD interest rates are with impact from December 22.

Latest FD interest rates

7-14 days 2.50%

15-60 days 3%

61-90 days 3.75%

91-180 days 4.5%

181-364 days 6%

1 Year[365 Days] 6.75%

> 1 Year – 2 Years 7.00%

>2 Years-3 Years 7.00%

> 3 Year-

5 Years 7.00%

> 5 Years – 10 Years 6.50%

Above 5 Years – 10 Years 6.50%

The interest rates are relevant to deposits lower than Rs 2 crore, and in case of untimely withdrawal of the deposit, interest is not going to be paid on the initially contracted rate, the financial institution talked about on its web site.

Utkarsh Small Finance Bank 

Utkarsh Small Finance Bank provides interest rate starting from 3% to 7% to common public and 3.50% to 7.50% to senior residents on FDs maturing in 7 days to 10 years. The financial institution provides the very best rate of interest on deposits with maturity interval 700 days.

The financial institution provides 7.0% interest rate on these deposits. Senior residents get an extra 50 foundation factors on these deposits.

Latest FD interest rates

7 days to 45 days 3.00%

46 days to 90 days 3.25%

91 days to 180 days 4.00%

181 days to 364 days 6.00%

12 months to 699 days 6.75%

700 days 7.00%

701 days to 3652 days 6.75%

The rates are relevant for contemporary fixed deposits as additionally for renewal of current fixed deposits, the financial institution point out on its web site. 

Suryoday Small Finance Bank 

Suryoday Bank FD rate ranges from 4% to 7.50% for common clients. The financial institution provides the very best rate of interest on deposits maturing in 5 years. These deposits will fetch an interest rate of seven.50%. Suryoday Bank’s latest FD interest rates are with impact from 15 September.

Latest FD interest rates

7 days to 14 days 4.00%

15 days to 45 days 4.00%

46 days to 90 days 5.00%

91 days to 6 months 5.50%

Above 6 months to 9 months 6.25%

Above 9 months to lower than 1 Year 6.50%

1 Year to 2 years 6.75%

Above 2 Years to 3 Years 7.15%

Above 3 Years to lower than 5 Years 7.25%

5 Years 7.50%

Above 5 years to 10 years 7%

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