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  4. Bank fixed deposit: These 3 banks are offering up to 7.5% interest on FDs | Check latest rates

Bank fixed deposit: These 3 banks are offering up to 7.5% interest on FDs | Check latest rates

Many banks are even offering interest rates on fixed deposits (FDs) ranging from 7 percent to 7.5 percent. Fixed deposits ranging from 7 days to 10 years are offered by top lenders like the State Bank of India (SBI), ICICI, HDFC Bank, Axis Bank and others. At present, SBI offers an interest rate of 4.90% for a tenure between 1 year and 2 years for deposits up to Rs 2 crore.

India TV News Desk Edited by: India TV News Desk New Delhi Updated on: January 06, 2021 14:40 IST
Bank fixed deposit: These 3 banks are offering up to 7.5% interest on FDs | Check latest rates
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Bank fixed deposit: These 3 banks are offering up to 7.5% interest on FDs | Check latest rates 

Many banks are even offering interest rates on fixed deposits (FDs) ranging from 7 percent to 7.5 percent. Fixed deposits ranging from 7 days to 10 years are offered by top lenders like the State Bank of India (SBI), ICICI, HDFC Bank, Axis Bank and others. At present, SBI offers an interest rate of 4.90% for a tenure between 1 year and 2 years for deposits up to Rs 2 crore.

As compared to commercial banks, small finance banks normally offer higher interest rates on fixed deposits. Presently, several banks are offering interest rates ranging from 2.5 per cent to 7.5 per cent on FDs.

Jana Small Finance Bank

Jana Small Finance Bank offers interest rate between 2.5 per cent and 7.50 per cent on FDs ranging from 7 days to 10 years. The bank gives an additional interest of 0.50 per cent to senior citizens. Jana Small Finance Bank gives the highest interest rate on deposits maturing in two years to three years.

On these deposits, the lender gives an interest rate of 7.25 per cent and 7.75% per cent to customers and senior citizens respectively. The bank's latest FD interest rates are with effect from December 22.

Latest FD interest rates

7-14 days 2.50%

15-60 days 3%

61-90 days 3.75%

91-180 days 4.5%

181-364 days 6%

1 Year[365 Days] 6.75%

> 1 Year - 2 Years 7.00%

>2 Years-3 Years 7.00%

> 3 Year- < 5 Years 7.25%

5 Years 7.00%

> 5 Years - 10 Years 6.50%

Above 5 Years - 10 Years 6.50%

The interest rates are applicable to deposits less than Rs 2 crore, and in case of premature withdrawal of the deposit, interest will not be paid at the originally contracted rate, the bank mentioned on its website.

Utkarsh Small Finance Bank 

Utkarsh Small Finance Bank gives interest rate ranging from 3% to 7% to general public and 3.50% to 7.50% to senior citizens on FDs maturing in 7 days to 10 years. The bank gives the highest rate of interest on deposits with maturity period 700 days.

The bank gives 7.0% interest rate on these deposits. Senior citizens get an additional 50 basis points on these deposits.

Latest FD interest rates

7 days to 45 days 3.00%

46 days to 90 days 3.25%

91 days to 180 days 4.00%

181 days to 364 days 6.00%

365 days to 699 days 6.75%

700 days 7.00%

701 days to 3652 days 6.75%

The rates are applicable for fresh fixed deposits as also for renewal of existing fixed deposits, the bank mention on its website. 

Suryoday Small Finance Bank 

Suryoday Bank FD rate ranges from 4% to 7.50% for general customers. The bank gives the highest rate of interest on deposits maturing in 5 years. These deposits will fetch an interest rate of 7.50%. Suryoday Bank's latest FD interest rates are with effect from 15 September.

Latest FD interest rates

7 days to 14 days 4.00%

15 days to 45 days 4.00%

46 days to 90 days 5.00%

91 days to 6 months 5.50%

Above 6 months to 9 months 6.25%

Above 9 months to less than 1 Year 6.50%

1 Year to 2 years 6.75%

Above 2 Years to 3 Years 7.15%

Above 3 Years to less than 5 Years 7.25%

5 Years 7.50%

Above 5 years to 10 years 7%

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