These 6 banks offer up to 9% FD interest rates - FDs with Small Finance Banks (2024)

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Feb 26, 2024, 04:07:18 PM IST

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FDs with Small Finance Banks

Small Finance Banks are subject to stringent regulations imposed by the Central Bank and are overseen by the RBI, just like any other banks in the public and private sectors. Small finance banks are covered under the insurance scheme provided by Deposit Insurance and Credit Guarantee Corporation (DICGC) to the tune of Rs 5 lakh. The amount includes both principal amount and interest.

When comparing the FD interest rates of public and private sector banks, Small Finance Banks provide higher rates. Here are SFBs offering higher interest rates for general citizens.

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Equitas Small Finance Bank FD interest rate

Equitas Small Finance Bank offers fixed deposit interest rates ranging from 3.5% to 8.50% for deposit tenures between 7 days and 10 years to general citizens for amounts below Rs 2 crore. The highest interest rate of 8.50% is offered on FDs maturing in 444 Days. The rates are effective from August 21, 2023.

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Fincare Small Finance Bank FD interest rate

Fincare Small Finance Bank provides FD interest rates ranging from 3% to 8.61% for terms ranging from 7 days to 10 years to regular residents for amounts below Rs 2 crore. The highest interest rate, 8.61%, is provided on FDs due in 750 days. The rates go effective on October 28, 2023.

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Jana Small Finance Bank FD interest rate

Jana Small Finance Bank offers FD interest rates ranging from 3% and 8.50% for tenure between 7 days to 10 years to general citizens for amounts below Rs 2 crore. The highest interest rate of 8.50% is offered on FDs maturing in 365 days. The FD rates are effective from January 2, 2024.

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Suryoday Small Finance Bank FD interest rate

Suryoday Small Finance Bank offers FD interest rates ranging from 4% to 8.65% for tenure between 7 days and 10 years to general citizens. The highest interest rate of 8.65% is offered on FDs maturing in two years and two days. These fixed deposit rates are effective from December 22, 2023.

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Unity Small Finance Bank FD interest rate

Unity Small Finance Bank offers FD interest rates ranging from 4.50% to 9% for tenures maturing between 7 days and 10 years to general citizens for amounts below Rs 2 crore. The highest interest rate of 9% is offered on FDs maturing in 1001 Days. The rates are effective from October 9, 2023.

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Utkarsh Small Finance Bank FD interest rate

Utkarsh Small Finance Bank offers FD interest rates ranging from 4% to 8.50% for tenures between 7 days to 10 years to general citizens. The highest interest rate of 8.50% is offered on FDs maturing between two years and up to three Years. These fixed deposit rates are effective from August 21, 2023.

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