This SFB Recently Hiked FD Rates, Now Offering Highest 7.99% To Senior Citizens

Suryoday Small Finance Bank, one of the leading Small Finance Bank, has hiked its fixed deposit interest rates. Suryoday Small Finance Bank is offering the highest 7.99% interest rates on deposits of Rs 2 crore and above to senior citizens for tenures of 999 days.

The revised FD rates are effective from June 6, 2022, according to the bank's website. Only Senior Citizens and Retired Personnel who are Resident Indians above 60 years are eligible for senior citizen fd rates.

On deposits of more than 9 months but less than a year, the general public will continue to get a 5.75% interest rate, while term deposits of 1 year to 2 years would receive a 6.50% interest rate. On deposit for tenure between 2 year and to 998 days and 1000 days to 3 years. The interest rate on 3-year deposits will now get the the highest rate of 7.49% to the general public.

Suryoday Small Finance Bank is one of the leading small finance banks to offer such high FD interest rates to senior citizens. Many banks have already hiked their interest rates in response to the RBI's 0.40% increase in repo rates. The Suryoday Small Finance Bank FD rate hike come into place at a time when the Reserve Bank Of India (RBI) is expected to hike its repo rates again to control inflation.

Hiked Interest Rates for Domestic Fixed Deposits (w.e.f 06 June 2022)

Tenure	Interest rate (Per annum)	Senior Citizen Rates (Per Annum)
7 days to 14 days	3.25%	3.75%
15 days to 45 days	3.25%	3.75%
46 days to 90 days	4.25%	4.75%
91 days to 6 months	4.75%	5.25%
Above 6 months to 9 months	5.25%	5.75%
Above 9 months to less than 1 Year	5.75%	6.25%
1 Year to 1 Year 6 Months	6.50%	7.00%
Above 1 Year 6 Months to 2 Years	6.50%	7.00%
Above 2 years to 998 days	7.00%	7.50%
999 Days	7.49%	7.99%
1000 days to 3 Years	7.00%	7.50%
Above 3 Years to less than 5 Years	6.50%	7.00%
5 Years	6.75%	7.25%
Above 5 years to 10 years	6.00%	6.50%

Note - 1) For Fixed Deposit of amounts Rs. 2 Crore and above, please contact the nearest Suryoday Small Finance Bank Branch.
2) Annualised yield is calculated on the basis of quarterly compounding for 12 months period.

Source - suryodaybank.com