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Published on 7/03/2020 10:19:48 AM | Source: Live Mint

These banks offer up to 8.5% interest on fixed deposits (FDs)

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Bank fixed deposits (FDs) are the most favoured savings instrument of Indians, especially senior citizens as they don't want to take risk. Some banks are offering up to 8.5% interest on fixed deposits in select buckets. Senior citizens get even more on these deposits. In Budget 2020, Finance Minister Nirmala Sitharaman increased the insurance cover on bank deposits to ₹5 lakh. Small finance banks (SFBs) offer high interest rates on savings, fixed deposit and recurring deposit accounts. Here is a list of banks that offer the best rate on fixed deposits for 1-year, 2-year, 3-year 5-year and 10-year.

North East Small Finance Bank latest FD interest rates

In North East Small Finance Bank, an FD can be opened for a period of 7 days to 10 years. For deposits maturing in less than one year, North East Small Finance Bank gives 7.25% interest. FDs maturing in 1 year to less than 2 years will fetch 8% interest with the bank, and 2 years to less than 3 years will earn 8.10% interest. The bank gives the highest rate of interest on deposits maturing in 777 days. These deposits will fetch 8.50% interest. For FDs with maturity 3 year to less than 5 years, 5 years up to 10 years will fetch 7.50% and 6.75% respectively. North East Small Finance Bank gives 50 basis points extra to senior citizens on these deposits.

7-14 days 4.75%

15-29 days 5.00%

30-45 days 5.50%

46-90 days 5.75%

91-180 days 6.25%

181-365 days 7.25%

1 year to less than 2 years 8%

2 years to less than 3 years 8.10%

777 days 8.50%

1100 days 8.35%

3 year to less than 5 years 7.50%

1850 days 7.25%

5 years up to 10 years 6.75%

Utkarsh Small Finance Bank latest FD interest rates

Utkarsh Small Finance Bank offers interest rate ranging from 4.75% to 9% on FDs maturing in 7 days to 10 years. Term deposits with less than one year maturity, the bank gives 7.25%. FDs maturing in 1 year to 455 days will give you 8.20% interest, 456 days to less than 2 years 8.50% and 2 years to 776 days 8.00%. Utkarsh Small Finance Bank gives the highest interest rate on deposits maturing in 777 days. The bank gives 9% interest rate on these deposits. FDs with 3 years to less than 5 years maturity period will give you 8% interest rate. On 5 years FDs, Utkarsh Small Finance Bank gives 8.35%, and on 5 years to 10 years FDs, it gives 7.75% interest. Senior citizens get an additional 50 basis points on these deposits.

7 days to 15 days 4.75%

2 16 days to 28 days 4.75%

3 29 days to 45 days 4.75%

46 days to 90 days 5.50%

91 days to 120 days 6.75%

121 days to 180 days 6.75%

181 days to 210 days 7.00%

211 days to 270 days 7.00%

271 days to less than 1 year 7.25%

1 year to 455 days 8.20%

456 days to less than 2 years 8.50%

2 years to 776 days 8.00%

777 days 9.00%

778 days to less than 3 years 8.00%

3 years to less than 5 years 8.00%

5 years 8.35%

More than 5 years to 10 years 7.75%

Suryoday Small Finance Bank latest FD interest rates

Suryoday Small Finance Bank gives 7.75% interest on term deposits maturing in less than one year. For FDs with maturity period 1 year to 2 years, 2years to 3 years and 3 years to less than 5 years, Suryoday Small Finance Bank gives 8.25%, 8.5% and 8% respectively. The bank gives the highest rate of interest on deposits maturing in 5 years. These deposits will fetch 9%. For 5 years to 10 years term deposit, Suryoday Small Finance Bank will give 7.25% interest rate. Suryoday Small Finance Bank gives 4.5% to 9.5% interest to senior citizens on FDs maturing in 7 days and 10 years.

7 days to 14 days 4%

15 days to 45 days 4%

46 days to 90 days 5%

91 days to 6 months 5.50%

Above 6 months to 9 months 7.50%

Above 9 months to less than 1 year 7.75%

1 year to 2 years 8.25%

Above 2 years to 3 years 8.50%

Above 3 years to less than 5 years 8.00%

5 years 9%

Above 5 years to 10 years 7.25%

Fincare Small Finance Bank FD interest rates

For deposits maturing in less than one year, Fincare Small Finance Bank gives 7% interest. For 12 months to18 months 7.75%, 18 months 1 day to 21 months 8%, 21 months 1 day to 24 months 8.25%, 24 months 1 day to 30 months 8.50%. Fincare Small Finance Bank gives highest interest rate at 9% for deposits maturing in 30 months 1 day to 36 months. For term deposits maturing in 3-5 years and 5-7 years, Fincare Small Finance Bank gives 8% and 7% interest rates respectively. Fincare Small Finance Bank offers term deposits from 7 days to 7 years with interest ranging from 4% to 9% for general public and 4.5% to 9.5% for senior citizens.

7 days to 45 days 4%

46 days to 90 days 4%

91 days to 180 days 6%

181 days to 364 days 7%

12 months to 15 months 7.75%

15 months 1 day to 18 months 7.75%

18 months 1 day to 21 months 8%

21 months 1 day to 24 months 8.25%

24 months 1 day to 30 months 8.50%

30 months 1 day to 36 months 9%

3 years 1 day to 5 years 8.00%

5 years 1 day to 7 years 7.00%