Fixed deposit (FD) is a great option for those who want to invest but do not want to take the risk. But the interest rates on fixed deposits have come down considerably for the last few months, due to which the trend in investors has decreased slightly.
New Delhi: For those who want to invest but do not want to take the risk, Fixed Deposit (FD) is a great option. But the interest rates on fixed deposits have come down considerably for the last few months, due to which the trend in investors has decreased slightly. But we are going to tell you about the FD rates of some banks which are paying interest from 7% to 7.5%.
Currently, the country’s largest bank SBI is paying 4.90% interest on fixed deposits between 1 year to 2 years. The FD’s duration and interest rates vary from bank to bank. Typically fixed deposits range from 7 days to 10 years. Fixed deposit rates of most big commercial banks are low, but if you look at small finance banks, they are paying more interest on FD. Many of these small finance banks are offering FD rates ranging from 2.5% to 7.5%
1. Jana Small Finance Bank
Jana Small Finance Bank is paying interest from 2.5% to 7.50% on fixed deposits, their duration is from 7 days to 10 years. The bank also pays an additional interest of 0.50% to senior citizens. So senior citizens can earn interest from 4% to 8%. Jana Small Finance Bank also gives the highest interest on deposits of 2 to 3 years.
The bank is offering 7.25% on these deposits, while the senior citizens have an interest rate of 7.75% for this period. Bank fresh FD rate is applicable from December 22
Duration FD rates
7-14 days 2.50%
15-60 days 3.00%
61-90 days 3.75%
91-180 days 4.50%
181-364 days 6.00%
1 year 6.75%
1-2 years 7.00%
2 years – 3 years 7.00%
3 years- 5 years 7.25%
5 years 7.00%
5 years -10 years 6.50%
2. Utkarsh Small Finance Bank
Utkarsh Small Finance Bank pays interest from 3% to 7% on fixed deposits. Senior citizens get 0.5 percent more interest from 3.50 percent to 7.50 percent. This interest is for a period of 7 days to 10 years. The bank pays the highest interest for the 700-day maturity period, which is in the range of 3% to 7%.
Duration FD rates
7-45 days 3.00%
46-90 days 3.25%
91-180 days 4.00%
181-364 days 6.00%
365-699 days 6.75%
700 days 7.00%
701-3652 days 6.75%
These rates will be applicable to new fixed deposits as well as renewals of existing FDs.
3. Suryoday Small Finance Bank
Suryoday Small Finance Bank is offering interest rates on fixed deposits from 4% to 7.50% for common customers. The bank is offering the highest interest rate on FDs of 5 years maturity.
Duration FD rates
7-14 days 4.00%
15-45 days 4.00%
46-90 days 5.00%
91 days- 6 months 5.50%
6-9 months 6.25%
9 months – 1 year 6.50%
1-2 years 6.75%
2-3 Year 7.15%
3 years – 5 years 7.25%
5 years 7.50%
5-10 years 7.00%
