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Home / Money / Personal Finance /  This SFB hikes fixed deposit rates, regular customers will now get up to 7%
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Fincare Small Finance Bank (SFB) has hiked interest rates on fixed deposits of less than 2 Cr. The interest rate revision was made on 24th May 2022 by the bank and following the revision, the bank has hiked interest rates on multiple tenors.

Fincare Small Finance Bank Fixed Deposit Interest Rates

The bank will continue to give a 3% interest rate on deposits held for 7 to 45 days, while the rate on deposits held for 46 to 90 days has been raised from 3.25 per cent to 3.50 per cent. Fincare SFB has increased the interest rate on fixed deposits from 91 to 180 days from 3.50 per cent to 4%, a 50 basis point increase. Deposits maturing in 181 days to 364 days will now earn a 5.40 per cent interest rate, up from 5.15 per cent previously, while deposits maturing in 12 months to 18 months will earn a 6.25 per cent interest rate, up from 6% previously.

The bank will continue to give a 6.50 per cent interest rate on 18-month, one-day to 36-month deposits, while the interest rate on 36-month, one-day to 42-month deposits has been raised from 6.75 per cent to 7%. Fincare SFB will continue to pay a 6.75 per cent interest rate on deposits with terms ranging from 42 days to 59 months. The interest rate on deposits maturing in 59 months 1 day to 66 months has been raised from 6.75 per cent to 7%, while the interest rate on deposits maturing in 66 months 1 day to 84 months has been raised from 5.50 per cent to 6%. Senior citizens above the age of 60 years will continue to get an additional rate of 0.50% over and above the regular rate across all tenors.

7 days to 45 days- 3%

46 days to 90 days- 3.5%

91 days to 180 days- 4%

181 days to 364 days- 5.4%

12 months to 15 months- 6.25%

15 months 1 day to 18 months- 6.25%

18 months 1 day to 21 months- 6.50%

21 months 1 day to 24 months- 6.50%

24 months 1 day to 30 months- 6.50%

30 months 1 day to 36 months- 6.50%

36 months 1 day to 42 months- 7%

42 months 1 day to 48 months- 6.75%

48 months 1 day to 59 months- 6.75%

59 months 1 day to 66 months- 7%

66 months 1 day to 84 months- 6%

Source: Bank Website

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