Two Small Finance Banks Offering Highest FD Rates To Senior Citizens Up To 9.60%, Check Rates Here

Two leading Small Finance Banks (SFBs), Unity Small Finance Bank and Suryoday Small Finance Bank have revised their interest rates on Fixed Deposits (FDs) for both general and senior citizen depositors following the repo rates change by the Reserve Bank of India (RBI).

For Senior Citizens, both banks offer competitive interest rates on FDs. Unity Small Finance Bank offers a maximum of 9.5% p.a. interest to senior citizens, while Suryoday Small Finance Bank offers a maximum of 9.6% p.a. interest for FD. As of right now, these banks' FD terms range from seven days to ten years.

Unity SFB Vs Suryoday SFB FD Rates

Unity Small Finance Bank

Unity Small Finance Bank has revised the interest rates on fixed deposits with effect from June 14, 2023. The bank FD Rates are between 4.50% to 9% for regular citizens and 4.50% to 9.50% for senior citizens.

Now, it offers senior citizens a maximum interest rate of 9.50% p.a. on fixed deposits held for 1001 days, while regular citizens earn 9.00% p.a. for the same time frame, according to the bank website.

For a deposit duration of 501 days, the FD rate stands at 8.75% for general citizens, while senior citizens enjoy a higher rate of 9.25%.

Fixed Deposit Interest Rates below Rs 2 Cr. effective from June 14, 2023

Tenure	General FD Rates % p.a.	Senior Citizen FD Rates % p.a.
7 - 14 Days	4.50%	4.50%
15 - 45 Days	4.75%	4.75%
46 - 60 Days	5.25%	5.75%
61 - 90 Days	5.50%	6.00%
91 - 164 Days	5.75%	6.25%
165 Days - 6 Months	5.75%	6.25%
> 6 Months - 201 Days	8.75%	9.25%
202 - 364 Days	6.75%	7.25%
1 Year	7.35%	7.85%
1 Year 1 day	7.35%	7.85%
> 1Year 1 day - 500 days	7.35%	7.85%
501 Days	8.75%	9.25%
502 Days - 18 Months	7.35%	7.85%
> 18 Months - 1000 Days	7.40%	7.90%
1001 Days	9.00%	9.50%
1002 Days - 3 Year	7.65%	8.15%
> 3 Year - 5 Year	8.25%	8.75%
> 5 Year - 10 Year	7.00%	7.50%

Source - theunitybank.com

Suryoday Small Finance Bank

Suryoday Small Finance Bank has recently revised its interest rates effective from July 05, 2023. The bank offers a minimum of 4% interest and a maximum of 9.10% to regular citizens. While senior citizens can earn a minimum of 4.50% and a maximum of 9.50% interest for the same deposit period.

The highest interest rate of 9.1% is offered to regular citizens and 9.60% is offered to senior citizens on FD tenure of five years by the bank.

Fixed Deposit Interest Rates below Rs 2 Cr. effective from July 05, 2023

Period	Regular Interest Rate (p.a.)	Senior Citizen Rate (p.a.)
7 days to 14 days	4.00%	4.50%
15 days to 45 days	4.25%	4.75%
46 days to 90 days	4.50%	5.00%
91 days to 6 months	5.00%	5.50%
Above 6 months to 9 months	5.50%	6.00%
Above 9 months to less than 1 Year	6.00%	6.50%
1 Year	6.85%	7.35%
Above 1 Year to 15 months New	8.25%	8.75%
Above 15 months to 2 years New	8.50%	9.00%
Above 2 years to 3 yearsNew	8.60%	9.10%
Above 3 Years to less than 5 Years	6.75%	7.25%
5 Years	9.10%	9.60%
Above 5 years to 10 years	7.25%	7.75%

Source - suryodaybank.com