Small Finance Banks Fixed Deposit Interest Rates Compared Here

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Small Finance Banks Fixed Deposit Interest Rates Compared Here

Smaller financial banks, especially those aimed at investment, often offer their customers higher returns on fixed deposits up to cr 2 crores compared to commercial banks.

India’s largest banks, from the State Bank of India and HDFC Bank, currently pay an annual return of up to 6.2-6.25% on established retailers. Small financial banks, with a strong focus on investment, often pay the highest fees for their customers on fixed deposits of up to 2 crores. Fixed currencies – or term deposits – are financial instruments in which the amount of money is deducted for the period specified in the “fixed” tax rate.

Here are the current interest rates for popular small financial banks:
Ujjivan Small Finance Bank:

Period of Maturity

Rate of Interest starting from August 4th

Seven to 29 days

3.05%

30 to 89 days

4.05%

90 to 179 days

4.80%

180 to 364 days

5.20%

One to two years 

6.50%

Two years and one day to three years

6.05%

Three years and one day to five years

5.80%

Five years and one day to 10 years

5.55%

According to its website, Ujjivan Small Finance Bank offers a 0.50% higher interest rate for older people 
Equitas Small Finance Bank:

Period of Maturity

Rate of Interest starting from November 5th

Seven to 14 days

3.60%

15 to 29 days

3.60%

30 to 45 days

3.75%

46 to 62 days

4.25%

63 to 90 days 

5.25%

91 to 120 days

5.60%

121 to 180 days

5.60%

181 to 210 days

5.75%

211 to 270 days

5.75%

271 to 364 days 

6.20%

One year to 18 months

6.75%

18 months and one day to two years

6.75%

Two years and one day to 887 days

7.00%

888 days

7.00%

889 days to three years

7.00%

Three years and one day to four years

6.75%

Four years and one day to five years 

6.75%

Five years and one day to 10 years

6.75%

According to its website, Equitas Small Finance Bank offers 0.50% of the extra money to older investors (which does not apply to NRE and NRO accounts).

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