Suryoday Small Finance Bank Has announced a cut in interest rates of fixed deposits (FD) since 1 June 2025. This decision has come at a time when many big banks have already reduced FD rates. According to the sunrise small Finance Bank, the highest interest rate of 9.10% getting the senior citizens will be applicable only till 31 May 2025. That is, customers have the opportunity to earn more interest only for four days.
New interest rates – will be applicable from 1 June 2025
From June 1, interest rates on FD for common customers will be between 4% to 8%. At the same time, the interest rate on 5 -year FD has been reduced from 8.6% to 8%, which is believed to be the biggest cut. The new interest rates for senior citizens will range from 4.4% to 8.4%. All tenures have been cut by 10 basis points (BPS), while 5 years of FD have been cut by 70 BPS, which will be reduced from 9.10% to 8.40%.
Advice for investors
The bank has advised the customers that those who want to invest at the current high interest rates should book their FD before June 1. So, they can get more benefits. Especially senior citizens need to take a decision soon, as their return will be reduced after the cut.
FD interest rates
The interest rate on FDs from 7 to 14 days is 4.00%.
4.25%from 15 to 45 days, 4.50%from 46 to 90 days, and 5.00%interest from 91 days to 6 months.
The interest rate on 6 months 1 day FD will be 7.25% (annual yield 7.45%).
5.50% on FDs from 6 months 1 day to 9 months, and 6.00% interest from 1 year less than 9 months.
7.90% (annual yield 8.14%) on 1 year FD, 8.00% interest from 1 year to 15 months.
FDs from 15 to 18 months will apply 8.25% on FDs, and 8.10% interest rate from 18 months to 2 years.
FDs from 2 years to 30 months will get 8.15% and 8.40% interest from 30 to 36 months.
The interest rate will be reduced to 6.75% in a period of less than 3 years, while 8.00% interest will be available on the entire 5 years FD.
The interest rate on FDs from 5 years to 10 years has been fixed at 7.25%.
FD interest rates for senior citizens
7 to 14 days will get 4.40%, 15 to 45 days 4.65%, and 4.90%interest from 46 to 90 days.
5.40% from 91 days to 6 months and 7.65% (annual yield 7.87%) will get interest on 6 months.
5.90% from 6 months 1 day to 9 months, and 6.40% interest for less than 9 months.
Senior citizens will get 8.30% interest (annual yield 8.56%) over a period of 1 year.
8.40%from 1 year to 15 months, 8.65%from 15 to 18 months, and 8.50%interest from 18 months to 2 years.
Interest will be available at the rate of 8.55% from 2 years to 30 months and 8.80% (annual yield 9.09%) from 30 to 36 months.
7.15%on FDs up to 5 years, 8.40%on FD of 5 years, and 7.65%interest on FD of 5 to 10 years.
Senior citizens will get a profit of about 0.40% more interest than normal investors. These rates will be applicable from 1 June 2025. If investors want to take advantage of higher interest rates, then invest in FD before 31 May 2025.
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