For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

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

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.

TenureGeneral Customers
7 Days to 45 Days3.00%
46 Days to 90 Days3.25%
91 Days to 180 Days4.25%
181 Days to 364 Days5.75%
365 Days to 699 Days6.90%
700 Days to 1000 Days7.25%
1001 Days upto 5 Years6.75%
Above 5 Years to 10 Years6.00%
Source: Bank Website 
ESAF Small Finance Bank
 

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.

PeriodNormal Rate (%)
7 days to 14 days4.00%
15 days to 59 days4.50%
60 days to 90 days5.00%
91 days to 182 days5.25%
183 days to 1 year5.50%
1 year 1 day to less than 2 years6.60%
2 years to less than 3 years7.25%
3 years to less than 4 years5.75%
4 years to less than 5 years5.75%
5 years to 10 years5.25%
Source: Bank Website 
Ujjivan Small Finance Bank

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.

TENUREInterest Rate (p.a.) (Under Rs. 2 Crores)
12 Months6.90%
12 Months and 1 Day to 19 Months6.40%
19 Months and 1 Day to 24 Months7.00%
24 Months and 1 Day to 989 Days6.90%
990 Days7.15%
991 Days to 36 Months6.90%
3 Years and 1 Day to 5 Years6.65%
Source: Bank Website 
Suryoday Small Finance Bank

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.

PeriodInterest Rate (Per Annum)
7 days to 14 days3.25%
15 days to 45 days3.25%
46 days to 90 days4.25%
91 days to 6 months4.75%
Above 6 months to 9 months5.25%
Above 9 months to less than 1 Year5.75%
1 Year to 1 Year 6 Months6.50%
Above 1 Year 6 Months to 2 Years6.50%
Above 2 Years to less than 3 Years6.25%
3 Years7.00%
Above 3 Years to less than 5 Years6.50%
5 Years6.75%
Above 5 years to 10 years6.00%
Source: Bank Website 
North East Small Finance Bank

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.

PeriodInterest Rate (Per Annum)
7 - 14 Days3
15 - 29 Days3
30 - 45 Days3
46 - 90 Days3.5
91 - 180 Days4
181 - 365 Days5
366 - 729 Days6.75
730 - 1095 Days6.75
1096 - 1110 Days6.5
1111 Days7
1112-1825 Days6.5
1826 - 3650 Days6.25
Source: Bank Website 
Jana Small Finance Bank

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.

PeriodRegular FD Interest Rate (p.a.)
7-14 days2.50%
15-60 days3.00%
61-90 days3.75%
91-180 days4.50%
181-364 days5.50%
1 Year [365 Days]6.50%
1 Year - 2 Years6.50%
2 Years - 3 Years6.75%
3 Year - 5 Years7.00%
5 Years [1825 Days]6.75%
5 Years- 10 Years6.00%
Source: Bank Website 

Story first published: Saturday, May 14, 2022, 11:23 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X