Best FD rate? This bank is offering 9.25% on fixed deposits for senior citizens

Best FD rate: North East Small Finance Bank (NESFB) has introduced upgraded fixed deposit (FD) schemes with attractive rates. These schemes offer rates of up to 8.50% for the general public and an impressive 9.25% for senior citizens. "NESFB is committed to creating value and enhancing the financial well-being of our customers. Our new fixed deposit rates, alongside our wide range of financial solutions, underscore our commitment to excellence, innovation, and customer-centricity. As we continue to grow and evolve, our focus remains on serving our community and positively transforming the financial landscape.” - Satish Kumar Kalra, MD & CEO, North East Small Finance Bank.

Fixed Deposits (FDs) present senior citizens with a dependable avenue for earning income. Tailored to serve as a stable revenue source, FDs function akin to a pension for the elderly. The interest accrued from these deposits can furnish a consistent stream of income, aiding senior citizens throughout their retirement.

North East Small Finance Bank (NESFB) fixed deposit interest rates for regular citizens

For a tenure of 366 to 1095 days, the interest rate is 7.75%.

For a tenure of 400 days under the Special Scheme, the interest rate is 8.40%.

For a tenure of 555 days under the Special Scheme, the interest rate is 8.50%.

For a tenure of 1111 days under the Special Scheme, the interest rate is 8.50%.

These rates apply for deposits up to ₹5 crore.

366 - 1095 Days 7.75%

400 days- Special Scheme 8.40%

555 days- Special Scheme 8.50%

1111 Days- Special Scheme 8.50%

North East Small Finance Bank (NESFB) fixed deposit interest rates for senior citizens

For a tenure of 366 to 1095 days, the interest rate is 8.50%.

For a tenure of 400 days, the interest rate is 9.15%.

For a tenure of 555 days, the interest rate is 9.25%.

For a tenure of 1111 days, the interest rate is 9.25%.

These rates apply for deposits up to ₹5 crore.

366 - 1095 Days 8.50%

400 days 9.15%

555 days 9.25%

1111 Days 9.25%

The Competition Commission of India recently gave the green light to the merger deal between Slice, a Bengaluru-based credit and payments startup, and North East Small Finance Bank Limited.

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