Small Finance Banks offering higher interest rates than commercial banks

Here is a list of a few Small Finance Banks which are offering higher interest rates than the big Commercial Banks.

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Bank FD

Bank FD is considered as the most preferred investment instrument to invest your hard-earned money as it is considered safer as compared to investments in mutual funds. Recently after the Reserve Bank of India (RBI) cut the repo rate in its Monetary Policy Review meet, all top lenders including the State Bank of India, ICICI Bank, HDFC Bank, Axis Bank, and others started cutting down their FD rates. The time limit for FD’s is from 7 days to 7 years. 

Here is a list of some small finance banks that offer more than 8% interest on select maturities.

Interest rates offered by Fincare Small Finance bank latest FD interest rates (below Rs 2 crores) for the general public

 For deposits maturing in 7 days to 90 days, it gives 4% interest. For 91-180 days, its 6%, 181-365 days, 7% interest. For deposit maturing in 12 months-15days, it is 8 % and for 15 months 1 day to 18 months, its 8.25% respectively. FD’s maturing in 18 months 1 day to 21 months will yield 8.5% and for 21 months 1 day to 24 months, it is 8.75 %. FD’s maturing in 24 months 1 day to 36 months gets the maximum rate of interest ie 9 %. FD’s with 3 years 1 day to 5 years maturity will give 8% and 5 years 1 day to 7 years yields 7%. FDs maturing in 7 days to 7 years will give an interest rate ranging from 4.50% to 9.50%. Senior citizens will get 50 basis points more than general customers.

 Interest rates offered by Utkarsh Small Finance bank latest FD interest rates (below Rs 2 crores) for the general public 

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FDs maturing in 7 days to 45 days will get 5% and 46 days to 90 days will fetch 5% and 5.75% interest, respectively. For 91 days to 180 days, its 7% interest, for 181 days to 270 days, the bank gives 7.25% interest. Deposits maturing in 271 days to less than 1 year will yield an interest rate of 7.50%. FDs maturing in 1 year to 455 days offer 8.50% interest. The bank gives the highest interest rate is 9% on deposits maturing in 456 days to less than 2 years. On deposits maturing in 2 years to less than 5 years, the interest rate is 8.00%. Utkarsh Small Finance Bank gives 8.35% on 5 year FD and 5 years to 10 years FDs, it gives 8.00% interest. FDs maturing in 7 days to 10 years offer an interest rate ranging between 5.50%- 9.50%.  Senior citizens will get 50 points more than the general customers. 

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IDFC Bank First offers interest rate (Below Rs 2 crore) for the general public

This bank offers interest on FD’s from 4-8%. For deposits with maturity 1 year, one year and one day to 2 years, the same 8% interest is given.  

DCB Bank latest FD interest rates (below Rs 2 crore) for the general public

This bank offers interest rates ranging from5.40% to 8.00% to the general public. On maturing 1 to 3 years, the bank gives more than 8% interest. For 1 to 18 months, its 8% and for 18 months 1 day to 2 years, the bank will provide 8.20%. Deposits having maturities 2 years 1 day to 3 years will yield 8.30 % which is highest among all maturities.0.60% extra and over and above the normal rate is provided to senior citizens. 

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Jana Small Finance Bank or Janalakshmi Financial Services Bank latest FD interest rates (below Rs 2 crores) for the general public

This bank offers on FDs ranging from 4.50% to 8.40%. 8% interest is for FD maturing in 1 year and for 1 year 1 day to less than 2 years and For deposits maturing in 2 years to less than 3 years and more than 3 years to 5 years will yield 8.25 %. The highest rate of interest ie 8.40 % is on FD depositing in 3 years. 

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