Is Ujjivan SFB giving highest FD rates?

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Ujjivan Small Finance Bank has recently hiked fixed deposit interest rates. It is now giving as high as 8.50 per cent on tenure of 15 months. Senior citizens will get an additional of 0.50 per cent i.e. 9.00 per cent on FD of this tenure.

Small Finance banks are currently giving the highest interest rates on fixed deposits in the industry. These banks are certainly paying higher interest than both public and private banks. Let’s find out which SFB is currently giving the highest interest on term deposits and for what tenure.

Suryoday SFB is giving the highest interest on term deposits to general citizens. The Navi Mumbai-headquartered lender’s 9.01 per cent interest on tenure of 25 months is the highest that depositors can currently get with any of the SFBs in the country. The elderly will get as high as 9.25 per cent rates.

Senior citizens can currently get highest of 9.50 per cent interest if they open an FD of 1,001 days with Unity Small Finance Bank. No other SFB currently gives such high rates to the elderly. While, general citizens will get 9.00 per cent interest on same FD with Unity SFB.

Let’s see the highest interest rates that other small finance banks give on respective FDs in the country:

Small Finance Banks Fixed Deposit Interest Rates:

*RoI as on March 18, 2024.

Shivalik Small Finance Bank has hiked fixed deposit interest rates to as high as 8.70 per cent on tenure of 1 year to 18 months. Senior citizens will get an additional of 0.50 per cent i.e. 9.20 per cent on FD of this tenure. On the other hand, the Suryoday SFB has hiked term deposit rates to as high as 9.01 per cent on fixed deposit tenure of 25 months. Suryoday will pay 9.25 per cent interest to senior citizens on FD of this tenure.

Another SFB, the Jana Small Finance Bank is giving 8.50 per cent interest rate on FDs of 365 days. Senior citizens will get as high as 9.00 per cent on this FD.

While, Equitas Small Finance Bank is also giving as high as 8.50 per cent rate, but, on FDs of 444 days. Senior citizens will get 9.00 interest on this FD. Another small finance bank, the North East SFB is giving 8.50 per cent interest rate on FDs of 1111 days. Senior citizens will get an impressive 0.75 per cent additional rate on this FD. Elderly will get 9.25 per cent interest on 1111 days FD with North East SFB.

Utkarsh Small Finance Bank is also giving interest rate of as high as 8.50 per cent but on FDs of 2 years to 3 years. Senior citizens get 0.60 per cent additional rate on this FD.

Whereas, AU Small Finance Bank is giving highest of 8.00 per cent on FDs of 18 months. Plus, senior citizens will get 0.50 per cent additional rates. Capital Small Finance Bank is giving only 7.60 per cent highest interest on FDs. This FD is of 400 days. Elderly will get 8.10 per cent on this particular FD.