FD Interest Rates: Do Small Finance Banks give higher returns than Post Office?

Fixed deposits, popularly is aware of as FDs, will not be solely provided by main banks resembling State Bank of India (SBI), HDFC, ICICI, Axis amongst others but additionally by small finance banks and put up places of work throughout India. FDs provide greater rates of interest than financial savings financial institution accounts.

The market earlier had solely two gamers – banks and put up places of work, however now small finance banks has additionally gained a foothold.

FD rates of interest of SFBs resembling Unity Small Finance Bank, Equitas Small Finance Bank, Suryoday Small Finance Bank, Utkarsh Small Finance Bank and Jana Small Finance Bank are a lot greater than these provided by put up places of work.

Here’s an inventory of SFBs giving higher returns than Post Office:

Post Office Term Deposits: Post Office Term Deposits give an rate of interest of seven.00 per cent to most people and seven.00 per cent to senior residents on FDs of 5 years.

SFBs

Unity Small Finance Bank: The financial institution provides rates of interest of 9.00 per cent to most people and 9.50 per cent to senior residents on FDs of 1001 days.

Jana Small Finance Bank: The financial institution provides rates of interest of 8.10 per cent to most people and eight.80 per cent to senior residents on FDs of over 2 to three years.

Suryoday Small Finance Bank: The financial institution provides rates of interest of 8.51 per cent to most people and eight.76 per cent to senior residents on FDs of 999 days.

Equitas Small Finance Bank: The financial institution provides rates of interest of 8.00 per cent to most people and eight.50 per cent to senior residents on FDs of 888 days.

Ujjivan Small Finance Bank: The financial institution provides rates of interest of 8.00 per cent to most people and eight.75 per cent to senior residents on FDs of 560 days.

Fincare Small Finance Bank: The financial institution provides rates of interest of 8.11 per cent to most people and eight.71 per cent to senior residents on FDs of 750 days.

Utkarsh Small Finance Bank: The financial institution provides rates of interest of 8.00 per cent to most people and eight.75 per cent to senior residents on FDs of 700 days.

North East Small Finance Bank: The financial institution provides rates of interest of 8.00 per cent to most people and eight.75 per cent to senior residents on FDs of 1111 days.

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