Kolkata: The Reserve Bank has set the alarm bell ringing among the millions of people who park their money in fixed deposits of banks and NBFCs (non-banking financial institution). On Friday, June 6, the RBI has announced a sharp 50-point rate cut which is going to pull down the interest rates banks and NBFCs pay on FDs. While Indian depositors became to used to higher interest rates following the Covid 19 pandemic, they have already started witnessing a lowering of interest rates, both on deposits and lending.
Against this backdrop, let’s have a look at whether any bank in the country is paying 9% interest or more on any fixed deposit of any tenure. Even late in May 2025, at least three banks Unity Small Finance Bank, Suryoday Small Finance Bank and North East Small Finance Bank, were paying 9% interest and above in a few tenures. let’s see whether these banks are paying the same interest rates on Monday, June 9, 2025.
Unity Small Finance Bank interest rate
This bank’s website is still showing 9.1% as the highest rate of interest payable by the bank to senior citizens. This is the highest rate of interest Unity Small Finance Bank is paying and it is applicable to those senior citizens who will invest in FDs of 1,011 day tenure. The rate applicable for general customers is 8.6% for 8% and above interest rates on FDs across five tenures. With the crash in Repo Rate it remains to be seen how long Unity Small Finance Bank keeps paying this generous interest rate.
North East Small Finance Bank interest rate
Guwahati-based North East Small Finance Bank is offering 9% interest rate for FDs of tenure 18 months 1 day to 18 months 2 days. The significant point is that this 9% interest rate is applicable to both those aged above 60 and below 60. It makes this bank the only bank to pay 9% rate on Fixed Deposits to general customers.
Shriram Finance FD
Shriram Finance is a leading NBFC which was set up in 1978 is still paying 9% interest for general customers on fixed deposits with tenures between 12 and 60 months. According to the company website, senior citizens are entitled to an interest rate which is as high as 9.5%. It also mentions “Special Interest Rates for Women” according to which women depositors will be entitled to additional 10% basis points.
Suryoday Small Finance Bank interest rate
Suryoday Small Finance Bank is not paying any depositor interest rate that touches 9%. This information is as per its website on June 9. The peak interest rate on FD that Suryoday Small Finance Bank is offering is 8.8% paid on FDs with tenures between “above 30 months to 36 months”.
While Reserve Bank of India set India firmly on a rate cut cycle with successive 25 basis point rate cut in the February and April MPC meetings, the central bank has caught everyone by surprise on June 6 with a 50 basis point cut. It is expected to lead to sharp cuts of the deposit rates. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
