Senior Citizen: Bank made fun of senior citizens, announced bumper interest on FD of 1001 days
Senior Citizen: If you are a senior citizen and want to get good returns by investing in FD, then this news is for your benefit. Actually, let us tell you that this bank is giving bumper interest on 1001 day FD... due to which investors are investing heavily here-
Breaking News, Digital Desk- ( Suryoday Small Finance Bank FD Rates) Big banks of the country like SBI, HDFC and ICICI are reducing interest rates on fixed deposits (FDs) these days.
Contrary to this trend, Suryoday Small Finance Bank (SSFB) has given investors an opportunity for higher returns by increasing interest rates on FDs less than Rs 3 crore by 41 basis points (bps). This move has come at a time when other big banks are cutting interest rates, making SSFB an attractive option for investors.
According to the new rates of the bank, now common customers will get interest ranging from 4% to 8.60% on FD. On the other hand, senior citizens will get benefit ranging from 4.5% to 9.10%.
The highest interest rate is being offered on FD of 5 years and 1001 days, where common customers will get 8.60% and senior citizens will get 9.10% interest. (Bank News)
On one-year FDs, general customers will get 7.90% interest and senior citizens will get 8.40% interest. For 15-month FDs, this rate is 8.00% and 8.50% respectively. Interest rates on 18-month FDs will be 8.25% and 8.75%.
On FDs of 30 to 36 months, the general rate will be 8.40% and for senior citizens it will be 8.90%. For long-term FDs, i.e. up to 10 years, general customers will get 7.25% interest and senior citizens will get 7.75% interest. (bank fd rates)
The bank has also given attractive interest rates on Recurring Deposit (RD). For example, on a 12-month RD, a general customer will get 7.90% interest and a senior citizen will get 8.40% interest. If you do RD for 5 years, then this rate becomes 8.60% for general customers and 9.10% for senior citizens (senior citizen fd rates).
Suryoday Small Finance Bank's FD and RD schemes can be a good option for those looking for better interest rates along with safe investment. All the fixed deposits of the bank are covered under DICGC insurance, providing protection of up to Rs 5 lakh to each depositor.
Currently, when many banks are reducing interest rates, this can be especially beneficial for senior citizens. However, it is important to check the bank rating before investing.