Small Finance Banks Offer Higher Interest Rates On Deposit. 5 Things To Know

Higher interest rates: As new entrant, the brands of small finance banks are not yet established. Therefore to attract public they pay higher interest rates as compared to other established banks. For example, Ujjivan small finance bank offers FD interest rate of 8 per cent on its one-year fixed deposits (FDs). Fincare small finance bank offers 8 per cent on its one-year fixed deposits (FDs). Another small finance bank Equitas offe...