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4 Best 5-year Fixed Deposits For Both Regular & Senior Citizens
For risk-averse investors or senior citizens, investing in fixed deposits are highly preferred if they are not much familiar with the market-based returns. Starting from achieving short-term goals i.e. making investments for 1 year to long-term goals i.e. investing for 10 years or more, fixed deposit investments are the must-have in your portfolio during the market downturn. Apart from flexible tenure, fixed deposit investments promise assured returns, which is the only key reason to pick them.
Amid the current low-interest-rate regime where leading banks are just providing an interest rate of around 5 to 6%, there are still some banks that will offer you decent returns from 6.75% to 7.25%. These huge returns are currently provided by small finance banks which not only give you the best deal but also falls under the insurance cover of DICGC. So if you are a new investor or an investor with a low-risk profile, here are the top 5 small finance banks that are currently promising higher returns on fixed deposits of less than Rs 2 Cr.
Jana Small Finance Bank Fixed Deposit
Jana Small Finance Bank is promising an interest rate of 2.5% to 6.75% to the general public and 3.00% to 7.25% to senior citizens. For a deposit period of more than 3 years to less than 5 years, the bank provides the highest interest rate of 6.75 and 7.25% respectively. With effect from 07.05.2021, Jana Small Finance Bank is promising the following interest rates.
| Tenure | Regular FD Rates | Senior Citizen FD Rates |
|---|---|---|
| 7-14 days | 2.50% | 3.00% |
| 15-60 days | 3.00% | 3.50% |
| 61-90 days | 3.75% | 4.25% |
| 91-180 days | 4.50% | 5.00% |
| 181-364 days | 5.50% | 6.00% |
| 1 Year[365 Days] | 6.25% | 6.75% |
| > 1 Year - 2 Years | 6.50% | 7.00% |
| >2 Years-3 Years | 6.50% | 7.00% |
| > 3 Year- < 5 Years | 6.75% | 7.25% |
| 5 Years[1825 Days] | 6.50% | 7.00% |
| > 5 Years - 10 Years | 6.00% | 6.50% |
| Source: Jana Small Finance Bank |
Ujjivan Small Finance Bank Fixed Deposit
Ujjivan Small Finance Bank fixed deposit comes with a maturity period of 7 days to 10 years. The bank is currently promising an interest rate range from 3.05% to 6.75% to the general public with an additional rate of 0.50% to senior citizens. Here are the most recent fixed deposit interest rates of Ujjivan Small Finance Bank, which are in force from 5 March 2021.
| Tenure | Regular FD Rates | Senior Citizen FD Rates |
|---|---|---|
| 7 Days to 29 Days | 3.05% | 3.55% |
| 30 Days to 89 Days | 4.05% | 4.55% |
| 90 Days to 179 Days | 4.80% | 5.30% |
| 180 Days to 364 Days | 5.20% | 5.70% |
| 1 Year to 2 Years | 6.50% | 7.00% |
| 2 Years and 1 Day to 3 years | 6.75% | 7.25% |
| 3 Years and 1 Day to 5 Years | 6.75% | 7.25% |
| 5 Years and 1 Day to 10 Years | 5.80% | 6.30% |
| Source: Ujjivan Small Finance Bank |
Suryoday Small Finance Bank Fixed Deposit
Suryoday Small Finance Bank comes with a fixed deposit interest rate of up to 6.75% for both the general public and senior citizens. For a deposit period of 3 years to less than 5 years, this bank is currently promising the highest return of 6.75%. With effect from June 21, 2021, Suryoday Small Finance Bank is offering the following interest rates.
| Tenure | Regular FD Rates | Senior Citizen FD Rates |
|---|---|---|
| 7 days to 14 days | 3.25% | 3.25% |
| 15 days to 45 days | 3.25% | 3.25% |
| 46 days to 90 days | 4.25% | 4.25% |
| 91 days to 6 months | 4.75% | 4.75% |
| Above 6 months to 9 months | 5.25% | 5.25% |
| Above 9 months to less than 1 Year | 5.75% | 5.75% |
| 1 Year to 1 Year 6 Months | 6.50% | 6.75% |
| Above 1 Year 6 Months to 2 Years | 6.50% | 6.50% |
| Above 2 Years to 3 Years | 6.25% | 6.50% |
| Above 3 Years to less than 5 Years | 6.75% | 6.75% |
| 5 Years | 6.25% | 6.50% |
| Above 5 years to 10 years | 6.00% | 6.00% |
| Source: Suryoday Small Finance Bank |
Utkarsh Small Finance Bank Fixed Deposit
With effect from July 1 2021, Utkarsh Small Finance Bank is promising an interest rate of up to 6.75% to the general public and 7.25% to senior citizens. On a deposit period of 700 days, the bank is promising the highest rate of interest. Here are the most recent interest rates of Utkarsh Small Finance Bank.
| Tenure | Regular FD Rates | Senior Citizen FD Rates |
|---|---|---|
| 7 Days to 45 Days | 3.00% | 3.50% |
| 46 Days to 90 Days | 3.25% | 3.75% |
| 91 Days to 180 Days | 4.00% | 4.50% |
| 181 Days to 364 Days | 5.75% | 6.25% |
| 365 Days to 699 Days | 6.25% | 6.75% |
| 700 Days | 6.75% | 7.25% |
| 701 Days to 3652 Days | 6.00% | 6.50% |
| Source: Utkarsh Small Finance Bank |
