Gain High Fixed Deposits (FD) Interest Rate Upto 8.15%, By Top 5 Small Finance Banks

After the RBI has hiked the repo rate, banks are able to offer higher interest rates on Fixed Deposits or FDs. FD investment for up to Rs. 5 lakh is insured by the union government of India, so an investor should not worry about investing in a small finance bank. Here, five small finance banks and their best FD rates are being discussed for investment.

Suryoday Small Finance Bank

For Suryoday Small Finance Bank Ltd account holders, for Above 1 Year 6 Months to 2 Years FD rate for public is 6.50% and 7.00% for senior citizens, for Above 2 years to 998 days FD rate for public is 7.00% and 7.50% for senior citizens, and 999 Days FD rate for public is 7.49% and 7.99% for senior citizens, for 1000 days to 3 Years FD rate for public is 7.00% and 7.50% for senior citizens, for Above 3 Years to less than 5 Years FD rate for public is 6.50% and 7.00% for senior citizens, for 5 Years FD rate for public is 6.75% and 7.25% for senior citizens, for 5 Years FD rate for public is 6.75% and 7.25% for senior citizens.

Tenure	Interest rate for public	Interest rate for senior citizens
5 Years	6.75%	7.25%
Above 2 years to 998 days	7.00%	7.50%
999 Days	7.49%	7.99%

These interest rates are applicable for the domestic deposit for less than Rs. 2 crore, which came into effect on June 06, 2022.

AU Small Finance Bank Limited

For AU Small Finance Bank Ltd. account holders, for 6 Months 1 Day to 12 Months FD rate for public is 5.35% and 5.46% for senior citizens, for 12 Months 1 Day to 15 Months FD rate for public is 6.60% and 6.77% for senior citizens, for 15 Months to 24 Months FD rate for public is 6.45% and 6.61% for senior citizens, for 24 Months to 45 Months FD rate for public is 6.90% and 7.08% for senior citizens, for 45 Months 1 Day to less than 60 Months FD rate for public is 6.45% and 6.61% for senior citizens, for 60 Months to 120 Months FD rate for public is 6.90% and 7.08% for senior citizens.

Tenure	Interest rate for public	Interest rate for senior citizens
12 Months 1 Day to 15 Months	6.60%	6.77%
24 Months 1 Day to 24 Months	6.90%	7.08%
60 Months to 120 Months	6.90%	7.08%

These interest rates are applicable for the domestic deposit of less than Rs. 2 crore.

Jana Small Finance Bank

For Jana Small Finance Bank account holders, for 1 Year FD rate is 7.00% for public and 7.80% for senior citizens, for >1 Year -2 Years FD rate is 7.25% for public and 8.05% for senior citizens, for >2 Years-3 Years FD rate is 7.25% for public and 8.05% for senior citizens, for > 3 Year- < 5 Years FD rate is 7.35% for public and 8.15% for senior citizens, for 5 Years FD rate is 7.25% for public and 8.05% for senior citizens, for > 5 Years - 10 Years FD rate is 6.00% for public and 6.80% for senior citizens.

Tenure	Interest rate for public	Interest rate for senior citizens
> 1 Year -2 Years	7.25%	8.05%
>2 Years-3 Years	7.25%	8.05%
> 3 Year- < 5 Years	7.35%	8.15%

These interest rates are applicable for the domestic deposit for less than Rs. 2 crore, which came into effect on June 15, 2022.

Equitas Small Finance Bank Ltd.

For Equitas Small Finance Bank Ltd. account holders, for 1 year to 18 months FD rate is 6.60% for public and 7.10% for senior citizens, for 18 months 1 day to 2 years FD rate is 6.45% for public and 6.95% for senior citizens, for 2 years 1 day to 887 days FD rate is 6.90% for public and 7.40% for senior citizens, for 888 days FD rate is 7.00% for public and 7.50% for senior citizens, for 889 days to 3 years FD rate is 6.90% for public and 7.40% for senior citizens,

Tenure	Interest rate for public	Interest rate for senior citizens
2 years 1 day to 887 days	6.90%	7.40%
888 days	7.00%	7.50%
889 days to 3 years	6.90%	7.40%

These interest rates are applicable for the domestic deposit for less than Rs. 2 crore, which came into effect on June 27, 2022.

Ujjivan Small Finance Bank

Additionally, Ujjivan Small Finance Bank also provides high-interest rates on its Platina FDs. For this bank's account holders, for 15 Months and 1 Day to 18 Months FD rate is 7.20% for public and 7.70% for senior citizens, for 18 Months and 1 Day to < 24 Months FD rate is 6.80% for public and 7.30% for senior citizens, for 24 Months FD rate is 7.30% for public and 7.80% for senior citizens, for 24 Months 1 Day to 989 Days FD rate is 6.70% for public and 7.20% for senior citizens, for 990 Days FD rate is 7.40% for public and 7.90% for senior citizens, for 991 Days to 36 Months FD rate is 6.70% for public and 7.20% for senior citizens, for 36 Months 1 Day to 42 Months FD rate is 6.45% for public and 6.95% for senior citizens, and for 36 Months 1 Day to 42 Months FD rate is 6.45% for public and 6.95% for senior citizens, and for 42 Months 1 Day to 60 Months FD rate is 7.40% for public and 7.90% for senior citizens.

The bank informs, "Platina Deposit is a Retail Non-callable deposit product. Part closure & Pre-closure facility is not available for this scheme. Customers can book Platina Deposit for a minimum of 12 Months to a Maximum of 60 Months. Starting amount for booking Platina deposit is above Rs.15 Lakhs and the maximum amount should be below Rs. 2 Crore."

Tenure	Interest rate for public	Interest rate for senior citizens
15 Months and 1 Day to 18 Months	7.20%	7.70%
24 Months	7.30%	7.80%
990 Days	7.40%	7.90%

 

Best interest rate on FDs by these SFBs: comparison

A fixed deposit (FD) is an assured investment opportunity for investors who are not quite open to risks. Additionally, senior citizens also like FDs because they can have higher interest rates than the common public.

Bank	Tenure	Interest rate for public	Interest rate for senior citizens
Suryoday Small Finance Bank	999 Days	7.49%	7.99%
AU Small Finance Bank Limited	24 Months 1 Day to 24 Months	6.90%	7.08%
Jana Small Finance Bank	> 3 Year- < 5 Years	7.35%	8.15%
Equitas Small Finance Bank Ltd.	888 days	7.00%	7.50%
Ujjivan Small Finance Bank	990 Days	7.40%	7.90%