The continuous increase in the interest rates of bank FD has increased the trend of investing in it. Suryoday Small Finance Bank, while changing its FD interest rates, has now given investors an opportunity to earn profits up to 9.1%.
New Delhi: The interest rates of bank fixed deposits have been increasing continuously since last year, due to which the tendency to invest in FDs has increased rapidly. The latest FD rate of Suryoday Small Finance Bank is giving the highest interest rate to the investors, which will increase the profit of the investors. The bank has announced the revision of FD interest rates.
Suryoday Small Finance Bank (SSFB) offers an opportunity to invest in FDs with tenures ranging from 7 days to 10 years. The bank has changed the interest rates on fixed deposits on select tenures, under which it has been announced to give an interest rate of up to 9.1 percent to investors. The bank is making the new interest rates effective from today i.e. 7 August 2023.
Suryoday Small Finance Bank new FD rates:
- Under the new interest rates of Suryoday Small Finance Bank, interest is being given to the general public at the rate of 4.00 percent to 8.60 percent on the tenure of 7 days to 10 years. At the same time, senior citizens are being given interest at the rate of 4.50 percent to 9.10 percent on FDs with maturity ranging from 7 days to 10 years. Suryoday Small Finance Bank said that investors can deposit less than Rs 2 crore on all tenures.
- 6.00% interest rate for general customers and 6.50% interest rate for senior citizens investing on tenure of more than 9 months to less than 1 year.
- 8.25% interest rate for general citizens and 8.75% for senior citizens investing on tenure of 1 year to 15 months.
- 7.25% interest rate for citizens investing for 5 years to 10 years and 7.75% for senior citizens.
- 8.25% interest rate for general citizens and 8.75% for senior citizens investing for 5 years.
- The highest interest rate of 8.60 percent has been offered to general citizens and 9.10 percent to senior citizens on tenure of more than 2 years to 3 years.
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 fails. However, before investing more than this amount, it is better to check the risk appetite of Small Finance Bank.
