Fixed Deposit (FDs) Rates Of These Banks Are As High As 8.75%
AU Small Finance Bank FD rates are in the range of 5.5% and 7.40% Utkarsh Bank offers interest rate in the range of 3.5% and 8.5% SBI offers an interest rate of 7.4% on its one year fixed deposits (FDs)
As the fixed deposit (FD) interest rates offered by mainstream banks hover around 6.5% (for instance, SBI offers 6.4% on its one-year fixed deposits), there are small finance banks that include ESAF Small Finance Bank that offers a rate, which is as high as 8.75% for an average investor. Add 50 basis points interest if the investor happens to be a senior citizen. The rates offered by other small finance banks such as Utkarsh and AU Small Finance are 8.25% and 7.15%, respectively.
Also Read: Tax-Saving Bank Fixed Deposits (FDs) By SBI, ICICI Bank, HDFC Bank Explained
The State Bank of India (SBI) offers interest on one-year FD at the rate of 6.4%, lower than the small finance banks by at least 75 basis points, and by a maximum of 235 basis points.
AU Small Finance Bank: The interest rates offered by AU Small Finance Bank are in the range of 5.5% to 7.40% depending on the duration for which you make the fixed deposit (FD). One year long fixed deposit (upto 18 months) fetches an interest of 7.15%.
TENURE BUCKETS | Interest Rate / Card Rate p.a. (%) | Senior Citizen Interest Rate p.a. (%) |
7 Days to 1 Month 15 Days | 5.50% | 6.00% |
1 Month 16 Days to 3 Months | 6.75% | 7.25% |
3 Months 1 Day to 6 Months | 6.90% | 7.40% |
6 Months 1 Day to 12 Months | 7.00% | 7.50% |
12 Months 1 Day to 18 Months | 7.15% | 7.65% |
18 Months 1 Day to 24 Months | 7.15% | 7.65% |
24 Months 1 Day to 36 Months | 7.25% | 7.75% |
36 Months 1 Day to 45 Months | 7.30% | 7.80% |
45 Months 1 Day to 60 Months | 7.40% | 7.90% |
Above 60 Months* | 7.25% | 7.75% |
TENURES | INTEREST RATES (% P.A.) - W.E.F March 14, 2018 | ||||||
General Customers | Senior Citizens | ||||||
7 Days to 15 days | 3.50% | 4.00% | |||||
16 Days to 28 Days | 3.50% | 4.00% | |||||
29 Days to 45 Days | 4.00% | 4.50% | |||||
46 Days to 90 Days | 4.50% | 5.00% | |||||
91 Days to 120 Days | 5.00% | 5.50% | |||||
121 Days to 179 Days | 5.50% | 6.00% | |||||
180 Days to 210 Days | 6.00% | 6.50% | |||||
211 Days to 270 Days | 7.00% | 7.50% | |||||
271 Days to less than 1 Year | 7.50% | 8.00% | |||||
1 Year to 455 Days | 8.25% | 8.75% | |||||
456 Days to less than 2 years | 8.50% | 9.00% | |||||
2 Years to less than 3 Years | 7.85% | 8.35% | |||||
3 Years to less than 5 Years | 7.00% | 7.50% | |||||
5 Years | 8.00% | 8.50% | |||||
More than 5 Years to 10 Years | 7.00% | 7.50% |
Retail Term Deposit (Less than INR 1 Cr) | Rate of Interest Applicable | |
from 1st April 2018 | ||
Domestic | ||
Tenure | Normal | Senior Citizen |
7 - 14 days | 5.75% | 6.25% |
15 - 59 days | 5.75% | 6.25% |
60 - 90 days | 6.50% | 7.00% |
91 - 179 days | 6.75% | 7.25% |
180 - 363 days | 7.50% | 8.00% |
364 days | 5.60% | 6.10% |
365 - 727 days | 8.75% | 9.25% |
728 days | 6.80% | 7.30% |
729 - 1091 days | 8.00% | 8.50% |
1092 days | 5.66% | 6.16% |
1093 - 1819 days | 7.00% | 7.50% |
1820 days | 5.65% | 6.15% |
1821 - 3652 days | 7.00% | 7.50% |