As the fixed deposit (FD) interest rates offered by mainstream banks hover around 6.5% (for instance, SBI offers 6.4% on its one-year fixed deposits), there are small finance banks that include ESAF Small Finance Bank that offers a rate, which is as high as 8.75% for an average investor. Add 50 basis points interest if the investor happens to be a senior citizen. The rates offered by other small finance banks such as Utkarsh and AU Small Finance are 8.25% and 7.15%, respectively.
Also Read: Tax-Saving Bank Fixed Deposits (FDs) By SBI, ICICI Bank, HDFC Bank Explained
The State Bank of India (SBI) offers interest on one-year FD at the rate of 6.4%, lower than the small finance banks by at least 75 basis points, and by a maximum of 235 basis points.
AU Small Finance Bank: The interest rates offered by AU Small Finance Bank are in the range of 5.5% to 7.40% depending on the duration for which you make the fixed deposit (FD). One year long fixed deposit (upto 18 months) fetches an interest of 7.15%.
As the fixed deposit (FD) interest rates offered by mainstream banks hover around 6.5% (for instance, SBI offers 6.4% on its one-year fixed deposits), there are small finance banks that include ESAF Small Finance Bank that offers a rate, which is as high as 8.75% for an average investor. Add 50 basis points interest if the investor happens to be a senior citizen. The rates offered by other small finance banks such as Utkarsh and AU Small Finance are 8.25% and 7.15%, respectively.
Also Read: Tax-Saving Bank Fixed Deposits (FDs) By SBI, ICICI Bank, HDFC Bank Explained
The State Bank of India (SBI) offers interest on one-year FD at the rate of 6.4%, lower than the small finance banks by at least 75 basis points, and by a maximum of 235 basis points.
AU Small Finance Bank: The interest rates offered by AU Small Finance Bank are in the range of 5.5% to 7.40% depending on the duration for which you make the fixed deposit (FD). One year long fixed deposit (upto 18 months) fetches an interest of 7.15%.
As the fixed deposit (FD) interest rates offered by mainstream banks hover around 6.5% (for instance, SBI offers 6.4% on its one-year fixed deposits), there are small finance banks that include ESAF Small Finance Bank that offers a rate, which is as high as 8.75% for an average investor. Add 50 basis points interest if the investor happens to be a senior citizen. The rates offered by other small finance banks such as Utkarsh and AU Small Finance are 8.25% and 7.15%, respectively.
Also Read: Tax-Saving Bank Fixed Deposits (FDs) By SBI, ICICI Bank, HDFC Bank Explained
The State Bank of India (SBI) offers interest on one-year FD at the rate of 6.4%, lower than the small finance banks by at least 75 basis points, and by a maximum of 235 basis points.
AU Small Finance Bank: The interest rates offered by AU Small Finance Bank are in the range of 5.5% to 7.40% depending on the duration for which you make the fixed deposit (FD). One year long fixed deposit (upto 18 months) fetches an interest of 7.15%.
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