These Banks Pay Up To 8.2% Return On Fixed Deposits

Smaller finance banks offer higher fixed deposits (FDs) as compared to their bigger counterparts, such as HDFC Bank, Punjab National bank, State Bank of India. Small finance banks are mostly niche banks in the country and are majorly aimed at financial inclusion. These banks include Equitas, Ujjivan, Jana, and Utkarsh, and are offering interest rates ranging between 3.5-8.5 per cent per annum on retail fixed deposits (fixed deposits up to Rs 2 crore). These banks mostly cater to smaller business units, micro and small industries, and small farmers. These banks offer many maturity options for term deposits to customers, beginning from seven days.

Smaller finance banks offer higher fixed deposits (FDs) as compared to their bigger counterparts, such as HDFC Bank, Punjab National bank, State Bank of India. Small finance banks are mostly niche banks in the country and are majorly aimed at financial inclusion. These banks include Equitas, Ujjivan, Jana, and Utkarsh, and are offering interest rates ranging between 3.5-8.5 per cent per annum on retail fixed deposits (fixed deposits up to Rs 2 crore). These banks mostly cater to smaller business units, micro and small industries, and small farmers. These banks offer many maturity options for term deposits to customers, beginning from seven days.

Here is a comparison of fixed deposits interest rates offered by smaller finance banks:

Ujjivan Small Finance Bank

According to its website, Ujjivan Small Finance Bank provides an additional 0.50% interest rate to senior citizens 

Equitas Small Finance Bank

According to its website, Equitas Small Finance Bank provides 0.50% extra return to senior citizen depositors (not applicable for NRE and NRO accounts)

Utkarsh Small Finance Bank

Jana Small Finance Bank

Meanwhile, the country's top banks including State Bank of India, Axis Bank, Punjab National Bank and HDFC Bank offer interest rates up to 5.50 per cent on fixed deposits at present.