highlights
Seniors earn between 4.50% and 9.60%.
The ordinary citizen earns interest between 4% and 9.10% on FD.
Currently, many banks pay high interest rates on FD.
New Delhi. Before getting FD from a bank, it is important that you check the interest rates on fixed deposits offered by banks. Because currently many banks pay high interest rates on FD. Suryoday Small Finance Bank has raised interest rates by 49 basis points to 160 basis points on fixed deposits of less than ₹2 crore with maturities of 1 to 5 years. The new interest rates will be effective from May 5, 2023. The ordinary citizen will receive interest between 4% and 9.10% on FD. ,
While seniors earn between 4.50% and 9.60%. In addition, this small financial bank offers a whopping 7% interest on savings accounts with balances from £5,000 to £2,000.
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Know the Bank’s New Courses – FD Courses at Suryoday SFB
Interest rates for ordinary citizens
The FD rate is 6.85% for a 1-year term, while it yields 8.50% interest for a 1-2 year term and 9% interest for a 999-day term. The highest rate offered is 9.10% for a term of 5 years. With a term of 2 years to 998 days, an interest rate of 7.51% is granted. For a tenure of less than 1 year, the FD rates are between 4% and 6%.
Interest rates for seniors
Seniors receive a rate of 7.35% for a 1-year term. While 7.25% have tenures greater than 3 years but less than 5 years. In addition, an interest rate of 7.75% is offered for maturities of 32 months 27 days to 3 years and 5 years to 10 years. The highest rate is 9.60% for seniors with 5 years of service. Suryoday offers a rate of 9% for a 1 to 2 year term and 9.50% for a 999 day term. The bank offers an interest rate of 8.01% for a period of 2 years to 998 days.
Seniors or retirees must be 60 years and older to take advantage of these higher interest rates on FDs. The interest rate in Suryoday Bank is calculated quarterly for deposits with a maturity of more than 6 months. However, for deposits of less than 6 months, simple interest is paid at maturity.
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Tags: Bank FD, Business news in hindi, FD prices, fixed deposits
FIRST RELEASED : May 7, 2023 at 6:16 am
