These banks offer up to 6.75% return on one-year term deposits

These banks offer up to 6.75% return on one-year term deposits

New Delhi: Debt investing is the most popular investment choice for risk averse investors because it offers guaranteed returns. For decades, term deposits have remained extremely popular among Indians who wish to invest in vehicles with guaranteed returns.

While FDs are a good investment choice, interest rates have come down over the past two years, causing them to lose some of their luster. FD rates have nosedived since the outbreak of the Covid-19 pandemic. However, there are still a few smaller banks that offer a better return on one-year bank deposits.

Jana Small Finance Bank, ESAF Small Finance Bank, Suryoday Small Finance Bank and Utkarsh Small Finance Bank still offer a fixed deposit interest rate of up to 6.25 percent over one year FD for normal depositors while they offer a return of 6.75 percent over one year FD for the elderly.

These banks offer up to a 6.75% interest rate on 1-year FDs:

Jana Small Finance Bank FD rate:

Jana Small Finance Bank FD’s interest rate for 7-14 days is 2.50 percent while the same fixed deposit rate offered for 15-60 days is 3.00 percent. For a 61- to 90-day FD bank, the interest rate offered by the small financing bank is 3.75%, while for a period of 91 to 180 days, the interest rate offered for the financing bank is 3.75%. financing is 4.50%.

For a term of 181 to 364 days, the fixed deposit interest rate offered by Jana Small Finance Bank is 5.50%, while for one year or 365 days, the FD interest rate offered by Jana Small Finance Bank is 6.25%. For seniors, Jana Small Finance Bank offers an additional return of 0.50% on all tenors.

Jana Small Finance Bank FD rate

Utkarsh Small Finance Bank FD rate:

The small finance bank offers an interest rate of 3.00% FD on deposits for a term of 7 to 45 days. For 46-90 day term deposits, the offered interest rate is 3.25%, while the 91-180 day term of the FD will earn 4.00% interest at this small funding bank. On fixed bank deposits for a term of 181 to 364 days, the offered fixed deposit rate is 5.75 percent. On term deposits for a term of 365 to 699 days, the FD interest rate offered by Utkarsh Small Finance Bank is 6.25%.

Utkarsh Small Finance Bank also offers an additional yield of 50 basis points on all maturities. Thus, on one-year bank deposits, this small financing bank offers up to 6.75% FD interest rate to its depositors.

Utkarsh Bank FD

Small finance bank ESAF: The ESAF Small Finance Bank FD interest rate for 7 to 14 days is 4.00 percent, while the same fixed deposit rate offered for 15 to 59 days is 4.50 percent. For a 60- to 90-day FD bank, the interest rate offered by the small financing bank is 5.25%, while for a term of 91 to 181 days, the interest rate offered by the financing bank is 5.25%. financing is 5.50%. For a term of 183 to 363 days, the offered fixed deposit interest rate is 6.00 percent while for one year or 365 days and 366 days, the offered FD interest rate is 6.25 for hundred. For seniors, the SFB offers an additional return of 0.50% for all tenors.

Small financing bank ESAF FD

Suryoday Small Finance Bank: The small financing bank offers an interest rate of 3.25% FD on deposits for a term of 7 to 14 days. For 46-90 day term deposits, the offered interest rate is 3.25%, while the 91-180 day FD term will earn 4.75% interest at this small funding bank. On fixed bank deposits for a term of 6 months to 9 months, the offered fixed deposit rate is 5.25 percent. On term deposits with a term of 365 to 1 year 6 months, the FD interest rate offered is 6.50 percent.

Suryoday Bank FD rate

For seniors, the small finance bank offers an interest rate of 6.75 percent on term deposits with a term of 1 year.


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