Compare Small Finance Bank Fixed Deposit Interest Rates Here

Small finance banks, primarily aimed at financial inclusion, often provide their customers with higher returns on fixed deposits up to Rs 2 crore compared with commercial banks.

Compare Small Finance Bank Fixed Deposit Interest Rates Here

A fixed deposit is a financial instrument in which money is locked in for a pre-defined period of time.

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 PeriodInterest Rate With Effect From August 4
Seven to 29 days3.05%
30 to 89 days4.05%
90 to 179 days4.80%
180 to 364 days5.20%
One to two years6.50%
Two years and one day to three years6.05%
Three years and one day to five years 5.80%
Five years and one day to 10 years5.55%
(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 PeriodInterest Rate With Effect From November 5
Seven to 14 days3.60%
15 to 29 days3.60%
30 to 45 days3.75%
46 to 62 days4.25%
63 to 90 days5.25%
91 to 120 days5.60%
121 to 180 days5.60%
181 to 210 days5.75%
211 to 270 days5.75%
271 to 364 days6.20%
One year to 18 months6.75%
18 months and one day to two years6.75%
Two years and one day to 887 days7.00%
888 days7.00%
889 days to three years7.00%
Three years and one day to four years6.75%
Four years and one day to five years6.75%
Five years and one day to 10 years6.75%
(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 PeriodInterest Rate With Effect From October 19
General PublicSenior Citizen
Seven to 45 days3.00%3.50%
46 to 90 days3.25%3.75%
91 to 180 days4.00%4.50%
181 to 364 days6.00%6.50%
365 days to 699 days6.75%7.25%
700 days7%7.50%
701 to 3,652 days6.75%7.25%
(Source: utkarsh.bank)

Jana Small Finance Bank

Maturity PeriodInterest Rate With Effect From November 18
General PublicSenior Citizen
Seven to 14 days3.00%3.50%
15 to 60 days3.75%4.25%
61 to 90 days4.50%5.00%
91 to 180 days5.61%6.14%
181 to 364 days6.66%7.17%
One year (365 days)7.08%7.61%
One to two years7.19%7.71%
Two to three years 7.71%8.24%
Three to five years7.19%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 PeriodInterest Rate With Effect From August 14
General PublicSenior Citizen
Seven days to one month and 15 days3.75%    4.25%
One month and 16 days to three months4.25%    4.75%
Three months and one day to six months5.00%    5.50%
Six months and one day to 12 months5.50%   6.00%
12 months and one day to 15 months6.60%   7.10%
15 months and one day to 18 months6.50%   7.00%
18 months and one day to 24 months6.50%    7.00%
24 months and one day to 36 months6.75%   7.25%
36 months and one day to 45 months6.50%   7.00%
45 months and one day to 60 months6.50%    7.00%
60 months and one day to 120 months6.50%   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.