Senior Citizens FD charge hike: This financial institution affords greater than 9% rate of interest

Senior Citizens FD charge hike: Suryoday Small Finance Bank (SSFB) has revised rates of interest on mounted deposits. Senior residents can now rise up to a 9.10% rate of interest on deposits of above 2 years to three years with SSFB. The financial institution is now accepting deposits of lower than ₹2 crore maturing in 7 days to 10 years at an rate of interest of 4.50 % to 9.10 % to senior residents, and 4 % to eight.60 % to most of the people.

Suryoday Small Finance Bank’s newest FD charges for senior residents

Banks and NBFCs supply FD to senior residents on tenures starting from 7 days to 10 years. The charges range from financial institution to financial institution. Most of them supply a further rate of interest of fifty bps over the common mounted deposit rates of interest.

The better part is that senior residents can now get a 9.10 % rate of interest on FDs maturing in over two years to 3 years, whereas common prospects will get 8.6% on this tenure. On tenure above 15 months to 2 years, the financial institution affords the aged a 9% rate of interest.

7 days to 14 days 4.50%

15 days to 45 days 4.75%

46 days to 90 days 5.00%

91 days to six months 5.50%

Above 6 months to 9 months 6.00%

Above 9 months to lower than 1 Year 6.50%

1 Year 7.35%

Above 1 Year to fifteen months 8.75%

Above 15 months to 2 years 9.00%

Above 2 years to three years 9.10%

Above 3 Years to lower than 5 Years 7.25%

5 Years 8.75%

Above 5 years to 10 years 7.75%

The financial institution says that the deposits are backed by DICGC on this financial institution. 

SFB is among the fastest-growing small finance banks with greater than 564 banking retailers throughout 13 states and Union territories and 5085 worker energy and s and 1.64 million prospects. SSFB financial institution affords the very best returns on mounted and financial savings financial institution deposits.

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Updated: 11 Aug 2023, 02:05 PM IST