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ESAF Small Finance Bank Revises Interest Rates On Fixed Deposit

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Fixed deposit rates at ESAF Small Finance Bank are higher than savings account rates. The bank has recently revised fixed deposit (FD) interest rates, which are in force from May 2, 2021. The rate of interest on FDs for regular citizens varies from 4.00 percent to 6.5 percent after the most recent adjustment, for terms ranging from 7 days to 10 years. Senior citizens also get an extra 0.5 percent on their ESAF Small Finance term deposits, which have interest rates ranging from 4.5 percent to 7%. For a regular investor, the highest interest rate on an ESAF Bank FD is 6.5 percent for a period ranging from 365 days & 366 days, whereas the highest interest rate for senior citizens is 7% for the same period. The Deposit Insurance Scheme of the RBI insures all bank FDs. In addition, the insurance covers up to INR 5 lakhs. As a result, ESAF Small Finance Bank FD can be a good bet here. Fixed Deposits are interest-bearing investments that promise a guaranteed and risk-free return. As a result, investors can think about investing in an ESAF Small Finance Bank FD. Below are the updated ESAF Small Finance Bank FD interest rates.

 

ESAF Small Finance Bank Revises Interest Rates On Fixed Deposit

ESAF Small Finance Bank FD Rates

TenureRegular FD RatesSenior Citizen FD Rates
7 days to 14 days4.00%4.50%
15 days to 59 days4.50%5.00%
60 days to 90 days5.25%5.75%
91 days to 181 days5.50%6.00%
182 days5.00%5.50%
183 days to 363 days6.00%6.50%
364 days5.25%5.75%
365 days & 366 days6.50%7.00%
367 days to 545 days6.25%6.75%
546 days5.00%5.50%
547 days to 727 days6.25%6.75%
728 days5.25%5.75%
729 days to 909 days6.00%6.50%
910 days5.25%5.75%
911 days to 1091 days6.00%6.50%
1092 days5.25%5.75%
1093 days to 1273 days5.75%6.25%
1275 -1455 days5.25%5.75%
1275 days -1455 days5.75%6.25%
1456 days5.25%5.75%
1457 days-1637 days5.75%6.25%
1638 days5.25%5.75%
1639 days-1819 days5.75%6.25%
1820 days5.25%5.75%
1821 days to 3653 days5.25%5.75%
Source: Bank Website

Read more about: fd fixed deposit investment
Story first published: Friday, May 7, 2021, 16:47 [IST]
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