Suryoday SFB hikes FD rates by up to 8.51% on 999 days tenor effective today
3 min read 01 Mar 2023, 10:56 PM ISTSuryoday Small Finance Bank (SFB) hikes interest rates on fixed deposits of less than ₹2 Cr.
PremiumSuryoday Small Finance Bank (SFB) hikes interest rates on fixed deposits of less than ₹2 Cr. As of today, March 1, 2023, the new interest rates that apply to domestic fixed deposits are in effect. The general public will get interest rates between 4.00% and 7.25% on term deposits with tenors of 7 days to 10 years, while senior citizens would receive interest rates between 4.50% and 7.50%. Investments maturing in 999 days will now earn non-senior citizens a maximum interest rate of 8.51%, while senior citizens can receive a maximum interest rate of 8.76%. Following the revision, the bank has hiked interest rates in 5 to 10 year tenors by 75 to 125 basis points (bps).
Suryoday Small Finance Bank FD Rates
On fixed deposits maturing in 7 days to 14 days, the bank is offering an interest rate of 4.00% while on those maturing in 15 days to 45 days, Suryoday Small Finance Bank (SFB) will now offer an interest rate of 4.25%. Suryoday Small Finance Bank (SFB) will now offer an interest rate of 4.50% on a deposit tenor of 46 days to 90 days and an interest rate of 5.00% on a deposit tenor of 91 days to 6 months.
Deposits maturing from above 6 months to 9 months will fetch an interest rate of 5.50% and those maturing from above 9 months to less than 1 year will now fetch an interest rate of 6.00%. The bank is currently offering an interest rate of 6.85% on term deposits that mature in one year, while Suryoday Small Finance Bank (SFB) will now guarantee an interest rate of 7.00% on deposits that mature between one year and one year and six months.
Now, Suryoday Small Finance Bank (SFB) will guarantee interest rates of 8.01% on deposits with a maturity of more than 1 year, 6 months to 2 years and 7.51% on deposits with a maturity of more than 2 years to 998 days. Deposits maturing in 999 days will fetch an interest rate of 8.51% and those maturing in 32 months 27 days to 3 years will fetch an interest rate of 7.25%. Suryoday Small Finance Bank (SFB) is offering an interest rate of 6.75% on a deposit tenor of 5 years the bank is offering an interest rate of 7.50%. Deposits maturing from above 5 years to 10 years will now fetch an interest rate of 7.25%.
Only senior citizens and retired employees who are resident Indians and at least 60 years old are eligible for additional fixed deposit rates that are available over and above the regular rates by Suryoday Small Finance Bank.
“This is the highest interest rate that the bank offers to its customers, also your deposits are backed by DICGC in this bank, making an investment decision soon will result in addressing your mid-term goals of 999 days," said Suryoday Small Finance Bank.
Also, the bank has increased savings account interest rates by up to 200 basis points (bps). Customers of the bank's savings accounts with balances exceeding Rs. 5 Lakhs and up to Rs. 2 Crore are now eligible for interest rates of up to 7.00 percent. On savings account with daily closing balance of up to and including Rs. 1 lakh, the bank will offer an interest rate of 3.75% and on a savings account balance of above Rs. 1 lakh up to & including Rs. 5 lakh, Suryoday Small Finance Bank is now offering an interest rate of 6.75%.
Suryoday Small Finance Bank is now offering an interest rate of 7.00% on savings account with daily closing balance of above Rs. 5 lakh up to & including Rs. 2 Crore. On savings account with daily closing balance of above Rs. 2 Crore up to & including Rs. 5 Crore, the bank is offering an interest rate of 6.50%.
On a savings account with daily closing balance slab of above Rs. 5 crore, the bank is now promising an interest rate of 5.00%.
