Fixed deposits (FD) are often preferred investment options for senior citizens because they provide a higher interest rate and tax benefits. All the top lenders including the State Bank of India (SBI), ICICI Bank, HDFC Bank, and others give 50 basis points interest to senior citizens over and above the general customers. The banks have been reducing interest rates in tandem with RBI's decision to cut its repo rate. This has a bearing on interest income of senior citizens too. Here is a comparison of the FD rates offered by some of the small finance banks.

Let's take a look at the FD interest rate offered by small finance banks like Jana, Fincare, Utkarsh and Suryoday to senior citizens:

Jana Small Finance Bank FD interest rates with effect from October 5

Jana Small Finance Bank offers 5.1% to 9% interest on tenures ranging from 7 days to 10 years. These FD interest rates are effective from 5th October. For a tenure of 3 years, Jana Bank gives the highest interest rate of 9% per annum.

7-14 days 5.10%

15 - 45 days 5.6%

46 - 60 days 6.6%

61 - 90 days 6.85%

91 - 180 days 7.6%

181 - 364 days 8.35%

1 year = 365 days 8.60%

> 1 year to < 2 years 8.85%

2 years to < 3 years 8.85%

3 years = 1095 days 9%

> 3 years - 5 years 8.85%

> 5 years - 10 years 7.60%

Fincare Small Finance Bank FD interest rates

Fincare Small Finance Bank offers FDs ranging from 7 days to 7 years. The bank offers interest in the range of 4.5% to 9.5% to senior citizens. For deposits maturing in 21 months one day to 24 months, the bank offers 9% interest. Fincare Small Finance Bank offers the highest rate of interest at the rate of 9.5% for deposits maturing in 24 months 1 day to 3 years.

7 days to 45 days- 4.50%

46 days to 90 days-4.50%

91 days to 180 days- 6.50%

181 days to 364 days-7.50%

12 months to 15 months-8.50%

15 months 1 day to 18 months-8.50%

18 months 1 day to 21 months-8.75%

21 months 1 day to 24 months-9.00%

24 months 1 day to 36 months-9.50%

3 years 1 day to 5 years-8.50%

5 years 1 day to 7 years-7.50%

Utkarsh Small Finance Bank FD interest rates with effect from October 18

Utkarsh Small Finance Bank offers 5.25% to 9.00% interest on FDs with tenures ranging from 7 days to 10 years. Utkarsh Small Finance Bank offers 9% interest for FDs maturing in 456 days to less than 2 years.

7 Days to 15 Days 5.25%

2 16 Days to 28 days 5.25%

3 29 Days to 45 Days 5.25%

46 Days to 90 Days 6.00%

91 Days to 120 Days 7.25%

121 Days to 180 days 7.25%

181 Days to 210 Days 7.50%

211 Days to 270 Days 7.50%

1 Year to 455 Days 8.70%

456 Days to less than 2 Years 9.00%

2 Years to less than 3 Years 8.50%

3 Years to less than 5 Years 8.50%

5 Years 8.85%

More than 5 Years to 10 Years 8.25%

Suryoday Small Finance Bank FD interest rates with effect from July 1

Suryoday Small Finance Bank offers FDs ranging from 7 days to 10 years with interest varying from 4.50% to 9.25%. For FDs maturing in 1 year 6 months to 2 years and 2 years to 3 years, Suryoday Small Finance Bank gives 9% and 9.25%, respectively.

7 days to 14 days 4.50%

15 days to 45 days 4.50%

46 days to 90 days 5.50%

91 days to 6 months 6.00%

Above 6 months to 9 months 8.00%

Above 9 months to less than 1 Year 8.25%

1 Year to 1 Year 6 months 8.85%

Above 1 year 6 months to 2 years 9.00%

Above 2 Years to 3 Years 9.25%

Above 3 Years to less than 5 Years 8.50%

5 Years 8.75%

Above 5 years to 10 years 7.75%


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