Suryoday Small Finance Bank FD Rates: The country’s big banks like SBI, HDFC and ICICI are losing interest rates on fixed deposits (FD) these days. But Suryoday Small Finance Bank (SSFB) has taken the opposite step of this trend and has increased the interest rates of FD. The bank has increased the interest rates to 41 basis points (BPS) for a period of less than Rs 3 crore. This has opened the way for investors to get more returns.
According to the new rates of the bank, now common customers will get interest ranging from 4% to 8.60% on FD. At the same time, senior citizens will get the benefit of 4.5% to 9.10%. The highest interest rate is available at 5 years and 1001 days FD, where the common customer will get 8.60% and senior citizens will get 9.10% interest.
If you do one year of FD, you will get 7.90% and senior citizens will get 8.40% interest. The common customer will get 8.00% interest on FD up to 15 months and senior citizens will get 8.50% interest. The interest rate on 18 months FD is 8.25% and 8.75% respectively. If you deposit money for 30 to 36 months, this rate turns 8.40% and 8.90%. At the same time, the interest rate on FD up to 10 years has been fixed at 7.25% for common customers and 7.75% for senior citizens.
The bank has also given attractive interest rates on Recurring Deposit (RD). For example, on 12 months RD, the common customer will get 7.90% and senior citizens will get 8.40% interest. If you do RD for 5 years, then this rate is 8.60% for common customers and 9.10% for senior citizens.
This is also a good option in terms of investment security as all the bank’s fixed deposits come under DICGC insurance. This means that every depositor gets security of up to Rs 5 lakh. If you are looking for a better interest rate with safe investment, then FD and RD plans of Suryoday Small Finance Bank may be a good option for you. Especially senior citizens should take full advantage of this time, when the rest of the banks are losing interest rates. However, check the bank’s rating before investing.
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