These small finance banks are giving much higher interest on FD than big banks

FD interest rate 2023: Fixed deposits (FD) are one of the safest investment options that give a consistent return. Banks also provide customers with special interest rates, various interest payment options, and income tax deductions to make FDs more attractive.

Many leading banks such as ICICI Bank, and HDFC Bank offer attractive FD rates but today small finance banks are giving higher interest on FD than these leading banks. While the small finance bank and small private bank offer the highest interest rate, the average rate of the top 12 finance banks is over 8 per cent considering the highest interest rate provided by these banks, shows data compiled by Paisa Bazar.

Ujjain Small Finance Bank, Unity Small Finance Bank, Jana Small Finance Bank, Utkarsh Small Finance Bank, Suryoday Small Finance Bank, Fincare Small Finance Bank, and many others are offering much higher interest rates than big corporates bank and public sector banks (PSU).

Here is a list of small finance banks giving returns of more than 8 per cent:

Suryoday Small Finance Bank:

The small finance bank is providing the highest FD interest rate of 9.1 per cent for the general public and 9.6 per cent for senior citizens.

Unity Small Finance Bank:

The highest FD interest rate provided by Unity Small Finance Bank is 9 per cent for the general public and 9.5 per cent for senior citizens.

Fincare Small Finance Bank:

The small finance bank is guaranteeing the highest FD interest rate of 9.1 per cent.

Utkarsh Small Finance Bank:

The highest interest rate on FD provided by the bank is 8.25 per cent for the general public and 9 per cent for senior citizens.

Equitas Small Finance:

The bank is offering 8.5 per cent interest on FD for the general public and in a special interest rate offer is providing senior citizens with 9 per cent interest on FD.

Jana Small Finance Bank:

The bank is offering the highest interest on FD of 8.15 per cent for the general public and for senior citizens the bank is offering an 8.85 per cent interest rate.

North East Small Finance Bank:

The highest interest rate on FD provided by the bank is 8 per cent for the general public and 8.75 per cent for senior citizens.

Shivallik Small Finance Bank:

The bank is offering the highest interest on FD of 8 per cent for the general public and for senior citizens the bank is offering an 8.5 per cent interest rate.

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