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Suryodaya Bank Revises FD Rates, Retains 9.10% For 2-3 Yr Tenures; Know What Other SFBs Are Offering

The Suryodaya small finance bank revised its fixed deposit interest rates on certain durations for senior citizens to more than 9 per cent from August 7, 2023

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August 8, 2023
Suryodaya Bank Revises FD Rates

Suryodaya Bank Revises FD Rates

Suryodaya Bank Revises FD Rates revised downward its interest rates on five-year fixed deposits for senior citizens from 9.60 to 8.75 per cent, effective August 7, 2023. However, the interest rates for deposits of over 15 months to two years (9.00 per cent), and more than two years to three years (9.10 per cent) remain the same.

The bank reduced the rates for five-year FDs from 9.60 per cent applied on July 5, 2023, to 8.75 per cent, effective August 7, 2023.

After the revision, its highest FD rate is 9.10 per cent for seniors and 8.60 per cent for others. Seniors looking for guaranteed returns can explore these FDs.

Let’s explore the FD rates of other small finance banks (SFBs) offered to seniors.  

Unity Bank: The bank revised its FD rates on June 14, 2023. Its highest interest rate for seniors is 9.50 per cent for the 1001-day tenure. It offers 9.25 per cent for FDs of more than six months to 201 days, and 501 days.

Northeast Small Finance Bank: The bank offers seniors a maximum of 9.35 per cent for fixed deposits of 555 days, and 1,111 days. However, as per the bank, no overdraft facility is available against these special FDs. 

Fincare Small Finance Bank: Effective July 26, 2023, the highest rate offered by the bank is 9.11 per cent for FDs of 750 days. For others, it is 8.51 per cent.  

ESAF Small Finance Bank: Senior citizens can get 9.00 per cent interest rate on FDs of two to three years. It is 0.50 per cent higher than the general public. 

Equitas Bank: It offers 9.00 per cent interest on FDs of 444 days and 888 days. It is 0.50 per cent higher than others, who get 8.50 per cent for both tenures. 

Jana Small Finance Bank: The highest interest offered by the bank to seniors is 9.00 per cent for tenures of 366-499 days, 501-730 days, and 500 days.   

Utkarsh Small Finance Bank: Its highest FD rate is 8.85 per cent for 1,000-1,500 days. For the general public, the rate is 8.25 per cent for this tenure. 

Ujjivan Small Finance Bank: The interest rate is 8.75 per cent for seniors for deposits of 12 months and 560 days. For others, it is 8.25 per cent for both tenures. 

Shivalik Small Finance Bank: Seniors can get 8.50 per cent for FDs of 18 months to less than 24 months, and 24 months to 36 months. For non-callable FDs (FDs that cannot be withdrawn before maturity, except in exceptional circumstances), the rate is 8.65 per cent for the same tenures.  

AU Small Finance Bank: The highest rate is 8.25 per cent or around 8.51 per cent in annualised yield. The FD term is for 24 months and 1 day to 36 months.  

Capital Small Finance Bank: It offers a maximum of 8.00 per cent to seniors for FDs of 12 months; for others, it is 7.50 per cent.

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