Latest News
-
1:4 Bonus Shares, Rs 7 Dividend: Big Update Announced; Buy The FMCG Stock? -
1:10 Stock Split: 1 Rs 980 Smallcap Has Split Into Ten Shares; Check Out New Price Level, Fundamentals! -
Rs 2.50/Share Final Dividend: Record Date In Due Course; Buy The ITC Group Stock? -
Rs 95/Share Dividend: Record Date On 28th June; Buy Mahindra Group Stock To Be Eligible? -
5 Bonus, Rs 28/Sh Dividend: IT Giant Infosys Beats Estimates In Q4FY24, But ADR Falls Sharply; Here's Why! -
1:10 Stock Split Approved: Small Cap Stock Issues Warrants, Shares Gain 111% YTD -
Wipro Q4 Results Preview: Weak Demand Likely To Drag Revenue Sequentially, EBIT Margins Seen Stable -
Rs 6/Share Final Dividend Declared: Buy The Blue Chip Stock To Be Eligible? -
TCS Vs Infosys: Dividend History And Upcoming Rewards, Which IT Giant Is Better? -
LIC New Jeevan Shanti 858 Plan: How To Earn Rs 10,000 Pension Per Month After Retirement? Check Eligibility!
6 Small Finance Banks Giving Inflation Beating Returns Over 7% On FD To Regular Customers
It's difficult to generate real returns from debt investments when CPI inflation is at a 17-month high of 6.95 per cent. As a result, looking for instruments that give inflation-beating returns is a prudent approach. It is not an issue for senior citizens because they receive a higher return on fixed deposits and there are various small savings plans available to them. Fixed deposits are regarded as the safest debt investment, yet genuine returns on fixed deposits are difficult to come by for the general public. In the face of growing inflation, we've created a list of six DICGC-insured small finance banks that are providing inflation-beating returns to non-senior citizens.
Utkarsh Small Finance Bank
The bank's interest rates were last changed on May 9, 2022, and as a result, the bank now offers a maximum return of 7.25 percent to the general public.
| Tenure | General Customers |
|---|---|
| 7 Days to 45 Days | 3.00% |
| 46 Days to 90 Days | 3.25% |
| 91 Days to 180 Days | 4.25% |
| 181 Days to 364 Days | 5.75% |
| 365 Days to 699 Days | 6.90% |
| 700 Days to 1000 Days | 7.25% |
| 1001 Days upto 5 Years | 6.75% |
| Above 5 Years to 10 Years | 6.00% |
| Source: Bank Website |
ESAF Small Finance Bank
The bank made an interest rate change on fixed deposits on May 13, 2022, and as a result of the revision, the bank is now giving regular customers a maximum interest rate of 7.25 per cent on deposits maturing in 2 years to less than 3 years.
| Period | Normal Rate (%) |
|---|---|
| 7 days to 14 days | 4.00% |
| 15 days to 59 days | 4.50% |
| 60 days to 90 days | 5.00% |
| 91 days to 182 days | 5.25% |
| 183 days to 1 year | 5.50% |
| 1 year 1 day to less than 2 years | 6.60% |
| 2 years to less than 3 years | 7.25% |
| 3 years to less than 4 years | 5.75% |
| 4 years to less than 5 years | 5.75% |
| 5 years to 10 years | 5.25% |
| Source: Bank Website |
Ujjivan Small Finance Bank
Regular customers can get a maximum rate of 7.15 percent on deposits maturing in 990 days with Ujjivan Small Finance Bank's Platina Fixed Deposit, which is a retail non-callable deposit product. The interest rates stated here are in effect as of May 1st, 2022.
| TENURE | Interest Rate (p.a.) (Under Rs. 2 Crores) |
|---|---|
| 12 Months | 6.90% |
| 12 Months and 1 Day to 19 Months | 6.40% |
| 19 Months and 1 Day to 24 Months | 7.00% |
| 24 Months and 1 Day to 989 Days | 6.90% |
| 990 Days | 7.15% |
| 991 Days to 36 Months | 6.90% |
| 3 Years and 1 Day to 5 Years | 6.65% |
| Source: Bank Website |
Suryoday Small Finance Bank
Effective March 10, 2022, the bank is offering the general public a maximum rate of 7% on deposits maturing in 3 Years.
| Period | Interest Rate (Per Annum) |
|---|---|
| 7 days to 14 days | 3.25% |
| 15 days to 45 days | 3.25% |
| 46 days to 90 days | 4.25% |
| 91 days to 6 months | 4.75% |
| Above 6 months to 9 months | 5.25% |
| Above 9 months to less than 1 Year | 5.75% |
| 1 Year to 1 Year 6 Months | 6.50% |
| Above 1 Year 6 Months to 2 Years | 6.50% |
| Above 2 Years to less than 3 Years | 6.25% |
| 3 Years | 7.00% |
| Above 3 Years to less than 5 Years | 6.50% |
| 5 Years | 6.75% |
| Above 5 years to 10 years | 6.00% |
| Source: Bank Website |
North East Small Finance Bank
In force from 1st April 2022, the bank is offering non-senior citizens a maximum return of 7% on deposits maturing in 1111 days.
| Period | Interest Rate (Per Annum) |
|---|---|
| 7 - 14 Days | 3 |
| 15 - 29 Days | 3 |
| 30 - 45 Days | 3 |
| 46 - 90 Days | 3.5 |
| 91 - 180 Days | 4 |
| 181 - 365 Days | 5 |
| 366 - 729 Days | 6.75 |
| 730 - 1095 Days | 6.75 |
| 1096 - 1110 Days | 6.5 |
| 1111 Days | 7 |
| 1112-1825 Days | 6.5 |
| 1826 - 3650 Days | 6.25 |
| Source: Bank Website |
Jana Small Finance Bank
Regular customers at Jana Small Finance Bank will receive a maximum return of 7% on deposits maturing in 3 to 5 years. As of May 5, 2022, the interest rates shown below are in force.
| Period | Regular FD Interest Rate (p.a.) |
|---|---|
| 7-14 days | 2.50% |
| 15-60 days | 3.00% |
| 61-90 days | 3.75% |
| 91-180 days | 4.50% |
| 181-364 days | 5.50% |
| 1 Year [365 Days] | 6.50% |
| 1 Year - 2 Years | 6.50% |
| 2 Years - 3 Years | 6.75% |
| 3 Year - 5 Years | 7.00% |
| 5 Years [1825 Days] | 6.75% |
| 5 Years- 10 Years | 6.00% |
| Source: Bank Website |
