Suryoday SFB revises fixed deposit rates, now offers 9.01% on a tenor of 5 years
Premium- Suryoday Small Finance Bank (SFB) has revised interest rates on fixed deposits of less than ₹2 Cr.
Suryoday Small Finance Bank (SFB) has revised interest rates on fixed deposits of less than ₹2 Cr. As per the official website of the bank, the new rates are effective as of December 06, 2022. Following the revision, the bank is now providing interest rates on deposits maturing in 7 days to 10 years that range from 4.00% to 6.00% for the general public and 4.50% to 6.50% for senior citizens. For deposits maturing in 5 years, Suryoday Small Finance Bank (SFB) is now giving a maximum interest rate of 9.01% for the general public and 9.26% for senior citizens. Suryoday Small Finance Bank has mentioned on its website that “5-year rate is valid for 15 days only i.e. from 6th Dec’22 to 20th Dec’22."
Suryoday Small Finance Bank FD Rates
The bank is now providing an interest rate of 4.00% on deposits that mature in the next 7 to 14 days, and an interest rate of 4.25% on deposits that mature in the next 15 to 45 days. Current interest rates offered by Suryoday SFB are 4.50% for deposits maturing in 46 days to 90 days and 5.00% for deposits maturing in 91 days to 6 months. Deposits maturing from above 6 months to 9 months will now offer 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%. On deposits maturing in 1 Year to 1 Year 6 Months, the bank is offering an interest rate of 7.00% and on those maturing from 1 Year 6 Months to 2 Years, Suryoday Small Finance Bank is offering an interest rate of 8.01%.
For FDs maturing between 2 years and 998 days, Suryoday Small Finance Bank is giving an interest rate of 7.51%, while for those maturing in 999 days, it is offering an interest rate of 8.51%. Deposits maturing in the next 2 months, 27 days, to 3 years will now earn 7.25% interest, while those maturing in the next 3 years or more but less than 5 years will now earn 6.75% interest. On deposits maturing in 5 Years the bank is now offering a maximum interest rate of 9.01% and on those maturing from above 5 years to 10 years will now fetch an interest rate of 6.00%.
Only senior citizens and retired employees who are resident Indians and at least 60 years old are eligible for additional interest rate benefit.
Suryoday Small Finance Bank has mentioned on its website that “When you open a Fixed deposit with Suryoday Small Finance Bank Ltd. Interest on Term Deposits is calculated as below: 1. On a Quarterly basis for deposits of tenor above 6 months. 2. Simple interest is paid at maturity for deposits of less than equal to 6 months. 3. Cumulative Interest/ re-investment interest is calculated every quarter and is added to the Principal such that Interest is paid on the Interest earned in the previous quarter as well. 4. In case of monthly deposit scheme, the interest shall be calculated for the quarter and paid monthly at discounted rate over the Standard FD Rate."
