FD Rates: If you are planning to invest in Fixed Deposit (FD), some small finance banks are still offering attractive interest rates of up to 9%. This interest rate is available for deposit amount less than ₹3 crore and investors below 60 years of age.
Which banks are giving 9% interest?
Unity Small Finance Bank: 9% interest on tenure of 1001 days.
Northeast Small Finance Bank: 9% interest on tenure of 546 to 1111 days.
Suryoday Small Finance Bank: 8.60% interest on tenure of 2-3 years.
AU Small Finance Bank: 8% interest on tenure of 18 months.
Equitas Small Finance Bank: 8.25% interest on tenure of 888 days.
ESAF Small Finance Bank: 8.25% interest on tenure of 2-3 years.
Jana Small Finance Bank: 8.25% interest on tenure of 1-3 years.
Ujjivan Small Finance Bank: 8.25% interest on tenure of 12 months.
Utkarsh Small Finance Bank: 8.50% interest on tenure of 2-3 years or 1500 days.
Are small finance banks safe?
According to AU Small Finance Bank, the Reserve Bank of India (RBI) regulates small finance banks and enforces strict rules on them. All banking norms, such as statutory liquidity ratio (SLR) and cash reserve ratio (CRR), are applicable to small finance banks as well. Therefore these banks can be considered as safe as other banks.”
Interest payment option on FD
The option of interest payment on FD investment is available on monthly, quarterly or half yearly basis. Small finance banks offer attractive interest rates. Investors should be informed about their financial planning and risk taking
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