On April 5, the Reserve Bank of India (RBI) is expected to announce the repo rate. The decision would also determine the interest rate increase on fixed deposits. Your FD’s interest rate will rise in line with the RBI’s increase in the repo rate. Small finance banks currently provide FD interest rates as high as 9%. Below is the list of banks offering interest rates up to 9 per cent.
North East Small Finance Bank
For FDs with terms ranging from 366 to 1,095 days, the bank is giving regular investors 7.75% interest, while senior people will receive 8.5% interest within the same time frame. Up to Rs 5 crore in FDs are eligible for this interest rate. For deposits made over 400 days, the bank is giving general and senior citizens interest rates of 8.4% and 9.15%, respectively.
The bank is providing regular customers with an interest rate of 8.50% and senior citizens a rate of 9.25% on fixed-rate deposits (FDs) up to Rs 5 crore with a duration of 555-1111 days.
Bank of Ujjivan Small Finance
General individuals can get interest rates ranging from 3.75% to 8.50% from Ujjivan Small Finance Bank. For a 15-month FD, the maximum interest rate is 8.50%. For elderly people with the same tenure, the maximum interest rate is 9%.
Suryoday Small Finance Bank
The general people can get an interest rate ranging from 4% to 9.01% from Suryoday Small Finance Bank. Senior citizens’ interest rates range from 4.40% to 9.25%. For a term of two years and one month (25 months), it gives a maximum interest rate of 9.01%; for senior people, it is 9.25%.
Shivalik Small Finance Bank
The general public can benefit from interest rates ranging from 3.50% to 8.70% at Shivalik Small Finance Bank. Seniors can get interest rates ranging from 4% to 9.20%. For FDs with a 24-month duration ranging from 1 day to 36 months, the highest interest rate is 8.70%. Seniors can only borrow money at a maximum interest rate of 9.20%.
Equitas Small Finance Bank
Equitas Small Finance Bank provides fixed deposit interest rates to the public for sums under Rs 2 crore, with rates ranging from 3.5% to 8.50% for deposit terms between 7 days and 10 years. FDs with a maturity date of 444 days are provided the highest interest rate, which is 8.50%.
Fincare Small Finance Bank
Regular residents can apply for FD interest rates from Fincare Small Finance Bank for sums under Rs 2 crore, with rates ranging from 3% to 8.61% for maturities ranging from 7 days to 10 years. The highest interest rate offered on FDs with 750-day maturities is 8.61%.
Jana Small Finance Bank
For balances under Rs 2 crore, Jana Small Finance Bank provides ordinary people fixed-rate savings accounts (FDs) with interest rates ranging from 3% to 8.50% for terms ranging from 7 days to 10 years. FDs with a 365-day maturity period are provided the maximum interest rate, which is 8.50%.
Unity Small Finance BankÂ
For balances under Rs 2 crore, Unity Small Finance Bank provides ordinary people fixed-rate savings accounts (FDs) with interest rates ranging from 4.50% to 9% for maturities of seven days to ten years. FDs with a maturity date of 1001 days are provided the maximum interest rate, which is 9%.
