This DICGC insured FD rates hiked, senior citizens can earn as high as 9.01% on 1000 days tenor
2 min read 25 Mar 2023, 02:41 PM ISTFincare Small Finance Bank (SFB) hiked its interest rates on fixed deposits of less than ₹2 Cr.
PremiumFincare Small Finance Bank (SFB) hiked its interest rates on fixed deposits of less than ₹2 Cr. The bank offers interest rates on deposits maturing in 7 days to 10 years that range from 3% to 7% for the general public and from 3.60% to 7.60% for senior citizens. Senior citizens can get a maximum return of 9.01% on deposits with a 1000-day term, while the general public can earn a maximum return of 8.41%. As per the bank's official website, the new fixed deposit rates are effective as of 24th March 2023.
Fincare Small Finance Bank FD Rates
The bank will give a 3% interest rate on fixed deposits that mature in 7 to 45 days, while Fincare SFB will offer a 4.50% interest rate on deposits that mature in 46 to 90 days. For deposits with tenors of 91 to 180 days, Fincare SFB will give an interest rate of 5.50%, and on deposits with tenors of 181 to 364 days, the bank has increased the interest rate to 6.25%.
Deposits that mature in 12 to 499 days now earn 7.50% interest, while those that mature in 500 days now earn 7.75% interest. The bank will give an interest rate of 7.50% on fixed deposits that mature in 501 days to 18 months, while Fincare SFB will offer an interest rate of 7.80% on deposits that mature in 18 months, 1 day to 24 months.
For deposits with terms of 24 months, 1 day to 749 days, Fincare SFB will give an interest rate of 7.90%, while the bank has increased the interest rate to 8.11% on deposits with terms of 750 days. Investments maturing in the next 751 days to 30 months will now earn interest at a rate of 7.90%, while deposits maturing in the next 30 months and a day to 999 days will now earn interest at a rate of 8%.
The bank will give an interest rate of 8.41% on fixed deposits maturing in 1000 days to 18 months, while Fincare SFB will offer an interest rate of 8% on deposits maturing in 1001 days to 36 months. The bank increased the interest rate to 7,50% on a deposit tenor of 42 months to 59 months, whereas Fincare SFB will give an interest rate of 8.25% on a deposit tenor of 36 months 1 day to 42 months. Deposits with maturities between 59 and 66 months will now earn interest at an 8% rate, while those with maturities between 66 and 84 months will now earn interest at a 7% rate.
At the end of March 2022, the bank had 12,000 employees and served 32,000+ customers in 19 states and the UT. A variety of products are available from Fincare Small Finance Bank, including current and savings accounts, loans backed by gold and real estate, as well as reasonable interest rates on fixed and recurring deposits.
