Small finance banks - which are banks aimed primarily at financial inclusion - pay interest rates in a range of 3.5-9.5 per cent on FDs or fixed deposits of up to Rs 1 crore. These lenders, such as Equitas Small Finance Bank, AU Small Finance Bank, Suryoday Bank, Jana Small Finance Bank, Fincare Small Finance Bank, ESAF Small Finance Bank and Utkarsh Small Finance Bank, provide a variety of maturity periods, from as short as seven days to as long as 10 years. In contrast to market-linked instruments such as equity or mutual funds, FDs provide a fixed return over a pre-defined maturity period, known as term or lock-in. Financial planners often suggest fixed deposit for investors with a low risk appetite.
Small finance banks - which are banks aimed primarily at financial inclusion - pay interest rates in a range of 3.5-9.5 per cent on FDs or fixed deposits of up to Rs 1 crore. These lenders, such as Equitas Small Finance Bank, AU Small Finance Bank, Suryoday Bank, Jana Small Finance Bank, Fincare Small Finance Bank, ESAF Small Finance Bank and Utkarsh Small Finance Bank, provide a variety of maturity periods, from as short as seven days to as long as 10 years. In contrast to market-linked instruments such as equity or mutual funds, FDs provide a fixed return over a pre-defined maturity period, known as term or lock-in. Financial planners often suggest fixed deposit for investors with a low risk appetite.
Small finance banks - which are banks aimed primarily at financial inclusion - pay interest rates in a range of 3.5-9.5 per cent on FDs or fixed deposits of up to Rs 1 crore. These lenders, such as Equitas Small Finance Bank, AU Small Finance Bank, Suryoday Bank, Jana Small Finance Bank, Fincare Small Finance Bank, ESAF Small Finance Bank and Utkarsh Small Finance Bank, provide a variety of maturity periods, from as short as seven days to as long as 10 years. In contrast to market-linked instruments such as equity or mutual funds, FDs provide a fixed return over a pre-defined maturity period, known as term or lock-in. Financial planners often suggest fixed deposit for investors with a low risk appetite.
Here's a comparison of interest rates paid by these small finance banks on fixed deposits of up to Rs 1 crore:
Equitas Small Finance Bank
AU Small Finance Bank
Suryoday Bank
Jana Small Finance Bank
Fincare Small Finance Bank
ESAF Small Finance Bank
Utkarsh Small Finance Bank
Across many maturities, small finance banks pay higher interest rates on FDs compared to their larger counterparts.
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