AU Small Finance Bank offers FDs maturing in 7 days to 10 years
Senior citizens get an additional spread of 50 basis points over the rate for general customers
As compared to the top lenders, the small finance banks offer comparative higher interest rates on both savings as well as fixed deposit (FD) accounts. AU Small Finance Bank offers interest rates ranging from 5.50% to 8.10% on FDs maturing in 7 days to 10 years for general depositors. These FD rates are applicable with effective 6 August 2019. For maturities between seven days to one month 15 days, AU Small Finance Bank offers interest rate of 5.50%. For FDs maturing in one month 16 days to 3 months, the bank offers 6.75% interest. Deposits with maturity period 3 months 1 day to 6 months and 6 months 1 day to 12 months will give 6.90 and 7.01% interest respectively.
AU Small Finance Bank latest FD rates (below ₹2 crore) for general public
AU Small Finance Bank latest FD rates (below ₹2 crore) for general public for maturity between one year and three years
For deposits maturing in one year one day to 15 months, AU Small Finance Bank gives 7.77% interest. Deposits with maturity 15 months one day to 18 months, fetch maximum interest rate in AU Small Finance Bank. These deposits give 8.10% interest. For 18 months 1 day to 24 months FDs, AU Small Finnace Bank offers an interest rate of 7.87%. FDs maturing in two years one day to 3 years will fetch you an interest rate of 8.00%. So deposits with one and half year maturity annd three years maturity period will fetch the highest rate of interest.
AU Small Finance Bank latest FD rates (below ₹2 crore) for general public for maturity between three years and five years
FDs maturing in 3 years 1 day to 45 months will fetch an interest rate of 7.53% with AU Small Finance Bank. Deposits with maturity period 45 months one day to 5 years will offer an interest rate of 7.77% with the bank.
36 Months 1 Day to 45 Months-7.53%
45 Months 1 Day to 60 Months-7.77%
AU Small Finance Bank latest FD rates (below ₹2 crore) for general public for maturity between five years and ten years
For long-term term deposits with maturity period 5 years 1 day to ten years, AU Small Finance Bank offers 7.30% interest
60 Months 1 Day to 120 Months-7.30%
AU Small Finance Bank latest FD rates (below ₹2 crore) for senior citizens
Senior citizens get an additional 50 basis points on FDs maturing in 7 days to 10 years. The rate of interest on these deposits range from 6.00% to 8.60%. AU Small Finance Bank offers the highest interest rate of 8.60% on FDs maturing in 15 months 1 day to one and half year.
7 Days to 1 Month 15 Days-6.00%
1 Month 16 Days to 3 Months-7.25%
3 Months 1 Day to 6 Months-7.40%
6 Months 1 Day to 12 Months-7.51%
12 Months 1 Day to 15 Months-8.27%
15 Months 1 Day to 18 Months-8.60%
18 Months 1 Day to 24 Months-8.37%
24 Months 1 Day to 36 Months-8.50%
36 Months 1 Day to 45 Months-8.03%
45 Months 1 Day to 60 Months-8.27%
60 Months 1 Day to 120 Months-7.80%
Since its birth as a lender of small loans in April 2017, AU Small Finance Bank has grown faster than its peers. Part of the reason was, of course, a low base to start with.
What are small finance banks
Like other commercial banks, small finance banks are also regulated by the Reserve Bank of India (RBI). The main purpose behind having separate small finance banks is to expand access to financial services to unbanked and underbanked sections of the society like migrant labourers, low-income households, small businesses and other unorganised sector entities. They have a mandate to have a higher proportion of their lending to priority sectors.
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