Interest rates on FDs vary widely depending on the banks as well as tenors. While the leading banks of the nation like SBI, HDFC Bank and ICICI Bank are offering highest interest rates of 6% to 6.4% per annum currently, smaller banks are giving highest interest rates in the range of 8% to 9%. The maximum rates on FDs are being offered by small finance banks.
Suryoday Small Finance Bank FD rate ranges from 4% to 9% for general customers and 4.5% to 9.5% for senior citizens depending upon the tenure they chose. The bank gives the highest rate of interest on deposits maturing in 5 years. These deposits will fetch 9%. For deposits maturing in 7 days to 45 days, the bank gives 4% interest, 46 days to 90 days 5%, 91 days to 6 months 5.50%. For FDs maturing above 6 months to 9 months, Suryoday Small Finance Bank gives 7.50% interest and above 9 months to less than 1 year 7.75%. For deposits maturing in 1 year to 2 years and more than 2 years to 3 years, the bank gives 8.25% and 8.50% interest respectively. Above 3 years to less than 5 years deposits will fetch an interest rate of 8%, and for 5 years to 10 years FDs, the bank will give 7.25% interest.
Fincare Small Finance Bank offers term deposits from 7 days to 7 years with interest ranging from 4% to 9% for general public and 4.5% to 9.5% for senior citizens. The bank gives highest interest rate at 9% for deposits maturing in 30 months 1 day to 36 months. For deposits maturing in 7 days to 90 days and 91 days to 180 days, Fincare Small Finance Bank gives 4% and 6% respectively, For 181 days to 364 days 7%, 12 months to 15 months 7.75%, 15 months 1 day to 18 months 7.75%. The bank gives 8% for FDs maturing in 18 months 1 day to 21 months, 8.25% for 21 months 1 day to 24 months, and 8.50% for 24 months 1 day to 30 months. For deposits maturing in 3-5 years and 5-7 years, Fincare Small Finance Bank gives 8% and 7% interest rates respectively.
