FD interest of up to 9%: 9 banks that offer high interest rates on fixed deposits

 

These nine banks provide high interest rates on fixed deposits. Here's a look at some small finance banks that provide quite high interest rates on regular fixed deposits.

Small finance banks (SFBs) often offer comparatively higher interest rates on fixed deposits (FDs) than what private and public sector banks offer. Interest rates on FDs usually range from 8 to 8.5% in small finance banks now. Higher returns can be lucrative for many but how safe is it to invest in FDs in small finance banks? Do remember that deposits in 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.

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Here's a look at some of these small finance banks that provide relatively high-interest rates for regular fixed deposits.

1. AU Small Finance Bank FD interest rate

AU Small Finance Bank offers FD interest rates ranging from 3.75% to 8% for tenures between 7 days and 10 years to general citizens. The highest interest rate of 8% is offered on FDs maturing in 18 months. The rates are effective from January 24, 2024.

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

3. ESAF Small Finance Bank FD interest rate
ESAF Small Finance Bank offers FD interest rates ranging from 4% to 8.25% for tenures between 7 days to 10 years to general citizens. The highest interest rate of 8.25% is offered on FDs maturing between two years and less than three years. These FD interest rates are effective from January 1, 2024.

4. Fincare Small Finance Bank FD interest rate
Fincare Small Finance Bank offers FD interest rates ranging from 3% to 8.61% for tenures between 7 days and 10 years to general citizens. The highest interest rate of 8.61% is offered on FDs maturing in 750 days. The rates are effective from October 28, 2023.

5. 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. The highest interest rate of 8.50% is offered on FDs maturing in 365 days. The FD rates are effective from January 2, 2024.

6. 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.

7. Ujjivan Small Finance Bank FD interest rate
Ujjivan Small Finance Bank offers interest rates ranging from 3.75% to 8.25% for tenures between 7 days and 10 years to general citizens. The highest interest rate of 8.25% is offered on FDs maturing in 560 days. The rates are effective from June 1, 2023

8. 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. The highest interest rate of 9% is offered on FDs maturing in 1001 Days. The rates are effective from October 9, 2023.

9. 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.