These two banks offering up to 6.75% return on one year fixed deposits2 min read . Updated: 17 Oct 2021, 01:16 PM IST
- FD interest rate: Both small finance banks are offering 6.25 per cent fixed deposit rates on one year bank FDs
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Fixed deposit (FD) interest rates have been nosediving since outbreak of the Covid-19 pandemic. This slide in fixed deposit rates have caused problems for those who look at FD as small-term investment option. However, there are still some small financial banks that offers better return on one year bank fixed deposits. Jana Small Finance Bank and Utkarsh Small Finance Bank still offering 6.25 per cent fixed deposit interest rate on one year FD for normal depositors while they are offering 6.75 per cent return on one year FD for senior citizens. So, these two banks are still offering up to 6.75 per cent return on one year bank FD.
Jana Small Finance Bank FD rates
As per the official website of Jana Small Finance Bank — janabank.com/deposits/regular-fixed-deposit/ — Jana Small Finance Bank FD interest rate for 7-14 days is 2.50 per cent whereas the same fixed deposit rate offered for 15 to 60 days is 3.00 per cent. For 61 to 90 days bank FD, interest rate offered by the small finance bank is 3.75 per cent whereas for 91 to 180 days tenor, FD interest rate offered is 4.50 per cent. For 181 to 364 days tenure, Jana Small Finance Bank fixed deposit interest rate offered is 5.50 per cent whereas for one year or 365 days tenure, FD interest rate offered by Jana Small Finance Bank is 6.25 per cent.
For senior citizens, Jana Small Finance Bank is offering an additional 0.50 per cent return across all tenors.
Utkarsh Small Finance Bank FD rates
As per the official website of Utkarsh Small Finance Bank — utkarsh.bank — the small finance bank is offering 3.00 per cent FD interest rate on deposits for the tenure of 7 to 45 days. For 46 to 90 days fixed deposits, interest rate offered is 3.25 per cent while 91 to 180 days FD tenure will yield 4.00 per cent interest at this small finance bank. On bank fixed deposits for the tenure of 181 to 364 days, fixed deposit rate offered is 5.75 per cent. On fixed deposits for tenure from 365 to 699 days, FD interest rate offered at Utkarsh Small Finance Bank is 6.25 per cent.
Utkarsh Small Finance Bank is also offering an additional 50 bps return across tenors. So, on one year bank fixed deposits, this small finance bank is offering up to 6.75 per cent FD interest rate to its depositors.
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