Home/ Industry / Banking/  AU Small Finance Bank hikes FD rates, now earn as high as 8% on this tenor

AU Small Finance Bank (SFB) hiked interest rates on fixed deposits of less than 2 Cr. Following the revision, the bank is offering interest rates ranging from 3.75% to 7.20% for the general public and 4.25% to 7.70% for senior citizens on deposits maturing in 7 days to 10 years. On a deposit tenor of 24 Months 1 Day to 36 Months, AU Small Finance Bank (SFB) is offering a maximum interest rate of 8%. As per the official website of the bank, the new FD rates are effective as of 15th May 2023.


The bank is now giving an interest rate of 3.75% on fixed deposits that mature in 7 days to 1 month and 15 days, and it is now offering an interest rate of 4.25% on deposits that mature in 1 month and 16 days to 3 months. As of right now, AU Small Finance Bank (SFB) is providing interest rates of 5.00% on deposits with a tenor of 3 months and a day to 6 months and 6.75% on deposits with a tenor of 6 months and a day to 12 months.

Deposits with maturities between 12 months and 15 months will now earn interest at a rate of 7.60%, while deposits with maturities between 15 months and 18 months will now earn interest at a rate of 7.75%. The bank is now offering an interest rate of 7.50% on domestic term deposits that mature in 18 months, 1 day to 24 months and is now providing an interest rate of 8.00% on domestic term deposits maturing in 24 months, 1 day to 36 months.

The interest rate on deposits will now be 7.75% for those maturing in 36 months and a day to 45 months and 7.20% for those maturing in 45 months and a day to 120 months.

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AU SFB FD Rates (aubank.in)

In Q4FY23, AU Small Finance Bank's net profit grew by 22.7% to 424.6 crore from 346.07 crore in the same period the previous year. In Q4FY23, net interest income (NII) totalled 1,213.20 crore, up 29.54% from 936.56 crore in Q4 of the previous fiscal year. Asset quality-wise, the bank's gross non-performing assets (NPA) declined to 1.66% in Q4FY23 from 1.98% in Q4FY22 and 1.81% in Q3FY23. 0.42% net NPA, down from 0.50% in Q4 FY22 and 0.51% in Q3 FY23.

Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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Updated: 17 May 2023, 02:58 PM IST
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