Compare Small Finance Bank Fixed Deposit Interest Rates Here
India's largest commercial banks, from the likes of State Bank of India and HDFC Bank, currently pay annual returns as high as 6.2-6.25 per cent to retail fixed depositors. Small finance banks, which are primarily aimed at financial inclusion, often pay even higher returns to their customers on fixed deposits up to Rs 2 crore. Fixed deposits — or term deposits — are financial instruments in which a sum of money is locked in for a pre-defined period of time for a "fixed" rate of interest.
Here are current interest rates of some popular small finance banks:
Ujjivan Small Finance Bank
| Maturity Period | Interest Rate With Effect From August 4 |
|---|---|
| Seven to 29 days | 3.05% |
| 30 to 89 days | 4.05% |
| 90 to 179 days | 4.80% |
| 180 to 364 days | 5.20% |
| One to two years | 6.50% |
| Two years and one day to three years | 6.05% |
| Three years and one day to five years | 5.80% |
| Five years and one day to 10 years | 5.55% |
| (Source: ujjivansfb.in) | |
According to its website, Ujjivan Small Finance Bank provides an additional 0.50% interest rate to senior citizens
Equitas Small Finance Bank
| Maturity Period | Interest Rate With Effect From November 5 |
|---|---|
| Seven to 14 days | 3.60% |
| 15 to 29 days | 3.60% |
| 30 to 45 days | 3.75% |
| 46 to 62 days | 4.25% |
| 63 to 90 days | 5.25% |
| 91 to 120 days | 5.60% |
| 121 to 180 days | 5.60% |
| 181 to 210 days | 5.75% |
| 211 to 270 days | 5.75% |
| 271 to 364 days | 6.20% |
| One year to 18 months | 6.75% |
| 18 months and one day to two years | 6.75% |
| Two years and one day to 887 days | 7.00% |
| 888 days | 7.00% |
| 889 days to three years | 7.00% |
| Three years and one day to four years | 6.75% |
| Four years and one day to five years | 6.75% |
| Five years and one day to 10 years | 6.75% |
| (Source: equitasbank.com) | |
According to its website, Equitas Small Finance Bank provides 0.50% extra return to senior citizen depositors (not applicable for NRE and NRO accounts)
Utkarsh Small Finance Bank
| Maturity Period | Interest Rate With Effect From October 19 | |
|---|---|---|
| General Public | Senior Citizen | |
| Seven to 45 days | 3.00% | 3.50% |
| 46 to 90 days | 3.25% | 3.75% |
| 91 to 180 days | 4.00% | 4.50% |
| 181 to 364 days | 6.00% | 6.50% |
| 365 days to 699 days | 6.75% | 7.25% |
| 700 days | 7% | 7.50% |
| 701 to 3,652 days | 6.75% | 7.25% |
| (Source: utkarsh.bank) | ||
Jana Small Finance Bank
| Maturity Period | Interest Rate With Effect From November 18 | |
|---|---|---|
| General Public | Senior Citizen | |
| Seven to 14 days | 3.00% | 3.50% |
| 15 to 60 days | 3.75% | 4.25% |
| 61 to 90 days | 4.50% | 5.00% |
| 91 to 180 days | 5.61% | 6.14% |
| 181 to 364 days | 6.66% | 7.17% |
| One year (365 days) | 7.08% | 7.61% |
| One to two years | 7.19% | 7.71% |
| Two to three years | 7.71% | 8.24% |
| Three to five years | 7.19% | 7.71% |
| Five years (1,825 days) | 7.19% | 7.71% |
| Five years to 10 years | 6.66% | 7.19% |
| (Source: janabank.com) | ||
AU Small Finance Bank
| Maturity Period | Interest Rate With Effect From August 14 | |
|---|---|---|
| General Public | Senior Citizen | |
| Seven days to one month and 15 days | 3.75% | 4.25% |
| One month and 16 days to three months | 4.25% | 4.75% |
| Three months and one day to six months | 5.00% | 5.50% |
| Six months and one day to 12 months | 5.50% | 6.00% |
| 12 months and one day to 15 months | 6.60% | 7.10% |
| 15 months and one day to 18 months | 6.50% | 7.00% |
| 18 months and one day to 24 months | 6.50% | 7.00% |
| 24 months and one day to 36 months | 6.75% | 7.25% |
| 36 months and one day to 45 months | 6.50% | 7.00% |
| 45 months and one day to 60 months | 6.50% | 7.00% |
| 60 months and one day to 120 months | 6.50% | 7.00% |
| (Source: janabank.com) | ||
The RBI has lowered the key benchmark rate — the repo rate — by a total 115 basis points (1.15 percentage point) so far in 2020.