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Fixed Deposit Interest Rates Offered By Small Finance Banks Compared Here

Small finance banks focus on financial inclusion by provision of savings vehicles and supply of credit to small business units

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Fixed Deposit Interest Rates Offered By Small Finance Banks Compared Here

Small finance banks pay higher interest rates on fixed deposits compared to commercial banks


Last week, Capital Small Finance Bank revised it fixed deposit interest rates on select maturities. Fixed deposit (FDs) are secure financial instruments offered by private and public sector banks, small finance banks (SFBs), non-banking financial companies (NBFCs) and post offices. Small finance banks focus on financial inclusion by provision of savings vehicles and supply of credit to small business units, small farmers, micro and small industries, and other unorganised sector entities. While the products are similar to those provided by mainstream commercial banks, the interest rates paid by the small finance banks are higher compared to their larger peers. 

Here's a comparison of fixed deposit (FD) interest rates paid by Capital Small Finance Bank, ESAF Small Finance Bank, Suryoday Small Finance Bank and Ujjivan Small Finance Bank: 

Capital Small Finance Bank

The following FD interest rates according to the bank's website - capitalbank.co.in:

Interest rates are applicable with effect from March 14, 2019
SlabGeneral publicSenior citizens
15 Days to 30 Days5.40%5.90%
31 Days to 45 Days5.75%6.25%
46 Days to 89 Days6.50%7.00%
90 Days to 179 Days6.85%7.35%
180 Days to less than 1 Year7.15%7.65%
1 Year to less than 5 Years7.80%8.30%
5 Years and up to 10 Years7.65%8.15%
400 Days8.00%8.50%
900 Days7.85%8.35%

 

ESAF Small Finance Bank

The following FD interest rates are applicable on deposits below Rs. 1 crore, according to the bank's website - esafbank.com:

Tenure of depositRate of Interest effective from March 1, 2019
 Normal RateRate for Senior Citizens
7 - 14 days5.50%6.00%
15 - 59 days5.50%6.00%
60 - 90 days6.25%6.75%
91 - 179 days6.75%7.25%
180 - 363 days7.50%8.00%
364 days5.60%6.10%
365 - 727 days8.75%9.25%
728 days6.80%7.30%
729 - 1091 days8.00%8.50%
1092 days5.66%6.16%
1093 - 1819 days7.30%7.80%
1820 days5.65%6.15%
1821 - 3652 days7.30%7.80%

 

Suryoday Small Finance Bank

The following FD interest rates are applicable on deposits below Rs. 2 crore with effect from February 25, 2019, according to the bank's website - suryodaybank.com:

Period

Interest Rate

(Per Annum)

Senior Citizen Rate

(Per Annum)

7 days to 14 days4.00%4.50%
15 days to 45 days4.00%4.50%
46 days to 90 days5.00%5.50%
91 days to 180 days5.50%6.00%
181 days to 240 days7.50%8.00%
241 days to less than 1 Year7.75%8.25%
1 Year to 2 Years8.50%9.00%
Above 2 Years to 3 Years8.75%9.25%
950 Days*9.00%9.50%
Above 3 Years to less than 5 Years8.00%8.50%
5 Years8.25%8.75%
Above 5 Years to 10 Years7.25%7.75%

 

Ujjivan Small Finance Bank

The following FD interest rates are applicable on deposits with effect from February 27, 2019, according to the bank's website - ujjivansfb.in:

TenureInterest Rate (pa)
 Under Rs 2 Crore
7 Days to 29 Days5.50%
30 Days to 89 Days6.25%
90 Days to 179 Days6.75%
180 Days to 364 Days7.50%
1 Year to 2 Years8.30%
2 Years and 1 Day to 734 Days7.50%
735 Days8.25%
736 Days to 798 Days7.50%
799 Days8.60%
800 Days to 3 Years7.50%
3 Years and 1 Day to 5 Years7.00%
5 Years and 1 Day to 10 Years6.50%

The bank offers an additional 0.50 per cent interest rate for senior citizens, according to the bank's website, www.ujjivansfb.in.

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