2 min read.Updated: 30 Dec 2019, 07:37 AM IST Written By Sangeeta Ojha
Bank fixed deposit is considered one of the safest investment method
All banks offer higher interest rate to senior citizens
There are many banks that offer interest rates ranging from 8% to 9.5% on fixed deposits (FDs). Term deposits or FDs are considered ideal for those who are looking at high liquidity, and cannot stomach much risk. Top lenders like State Bank of India (SBI), ICICI, HDFC Bank, Axis Bank and others offer FDs ranging from 7 days to 10 years. Some Small Finance Banks are offering more than 8.5% interest to general customers, and more than 9% to senior citizen across select maturities.
Jana Small Finance Bank gives 5% to 8.50% interest on FDs ranging from 7 days to 10 years. Senior citizens get an additional 60 basis points on these deposits. These deposits will fetch interest rate ranging from 5.6% to 9.10% for senior citizens. The bank gives the highest rate of interest on deposits with maturity period 499 days. These deposits will fetch an interest rate of 8.50% and 9.10% to general customers and senior citizens respectively. For deposits maturing in 3 years, Jana Small Finance Bank will give 8.40% to general customers and 9% to senior citizens. Jana Small Finance Bank latest FD interest rates are with effect from 20 December 2019
Suryoday Small Finance Bank latest FD interest rates
Suryoday Small Finance Bank provides regular fixed deposit to its customers with a minimum deposit amount of ₹1000. Suryoday Bank FD rate ranges from 4% to 9% for general customers and 4.5% to 9.5% for senior citizens depending upon the tenure. The bank gives the highest rate of interest on deposits maturing in 5 years. These deposits will fetch interests 9% , 9.5% to general people and senior citizens respectively. For deposits maturing in more than 2 years to 3 years, Suryoday Small Finance Bank gives 8.50% to general customers and 9% to senior citizens. Suryoday Bank latest FD interest rates are with effect from 1 December 2019
Utkarsh Small Finance Bank latest FD interest rates
Utkarsh Small Finance Bank gives interest rate ranging from 5.25% to 9% to senior citizens and 4.75% to 8.50% to general public on FDs maturing in 7 days to 10 years. The bank gives the highest rate of interest on deposits with maturity period 456 days to less than 2 years. These deposits will fetch senior citizens 9% interest. For general cutomers, the rate of interest will be 8.50%. For FDs maturing in 5 years, the bank gives 8.35% to general public and 8.85 to senior citizens. These deposits are with effect from 18 October.