Highest FD Rates: Bank Fixed Deposit (Bank FD) interest rates have been increasing continuously since last year, due to which investment in FD has increased rapidly. Investors are getting the highest interest after the latest FD rate of Suryoday Small Finance Bank
Highest FD Rates: Bank Fixed Deposit (Bank FD) interest rates have been increasing continuously since last year, due to which investment in FD has increased rapidly. Investors are getting the highest interest after the latest FD rate of Suryoday Small Finance Bank. The bank has announced a revision in FD interest rates. Suryoday Small Finance Bank (SSFB) is offering an opportunity to invest in FDs with tenures ranging from 7 days to 10 years. The bank has changed the rates of FDs for select periods. Under this, investors are being given interest of up to 9.1 percent. Bank new interest rates have come into effect today from 7th August 2023.
Suryoday Small Finance Bank New FD Rates
Under the new interest rates of Suryoday Small Finance Bank, the general public is getting interest at the rate of 4.00 percent to 8.60 percent for a period of 7 days to 10 years. At the same time, senior citizens are being given interest at the rate of 4.50 per cent to 9.10 per cent on FDs with maturity ranging from 7 days to 10 years. Suryoday Small Finance Bank said that this interest is being given on FDs of less than Rs 2 crore.
- For a period of more than 9 months to less than 1 year, 6.00% interest rate is being given to general customers and 6.50% interest to senior citizens.
- 8.25% interest is being given to common people and 8.75% interest to senior citizens on investment for a period of 1 year to 15 months.
- On investment of 5 years to 10 years, common citizens are getting 7.25% interest and senior citizens are getting 7.75% interest.
- Interest of 8.25% is being given to general citizens and 8.75% to senior citizens investing for 5 years.
- For a period of 2 years to more than 3 years, interest of 8.60 percent is being given to general citizens and 9.10 percent to senior citizens.
How safe is it to invest in a small bank?
According to RBI rules, FDs up to Rs 5 lakh are insured in small finance banks, which the customer gets without loss if the bank collapses. However, it is necessary to check the risk appetite of the Small Finance Bank for investing more than this limit.
