New Delhi: Fixed Deposits (FDs) are one of India’s most secure forms of investments that offer assured returns. Small finance banks provide a better interest rate than large conventional banks like SBI, ICICI, and HDFC Bank. It would be hard to believe for you that some banks are offering interest rates as high as 9.50 per cent. Below is a brief comparison of the highest FD rates featured on the official website of the top 5 small finance banks in India:
Top Banks Offering the Highest FD Rates
1. Unity Bank: For the general public, FD rates range from 8.50 per cent for 6 months to 9.00 per cent for 1001 days. Senior citizens enjoy rates of up to 9.50 per cent for 1001-day deposits.
2. North East Small Finance Bank: Offers up to 9.00 per cent for deposits maturing between 546 to 1111 days for the general public and 9.50% for senior citizens.
3. Suryoday Small Finance Bank: FD rates for general customers go up to 8.65 per cent, while senior citizens receive 9.10 per cent for deposits up to 3 years.
4. Shivalik Small Finance Bank: Offers 8.55 per cent for 18-24 months to the general public and 9.05% for senior citizens.
5. Equitas Small Finance Bank: For 444 days, the general public earns 8.50 per cent, while senior citizens get 8.77 per cent.
Are Your Deposits Safe?
The FDs of Small finance banks are insured under the DICGC which covers up to Rs 5 Lakh per depositor including the interest amount. In simple terms, if you invest your hard-earned money into these FDs and something tragic happens with the bank, then you will be able to avail an amount of Rs 5 lakh only. You can confirm the insurance status at the bank branch or by using the services of a branch official.
For investors who wish to get good returns on their FDs, Small Finance Banks have good interest rates and investment is safe in DICGC.
Discover the top 5 small finance banks with the highest FD rates, offering unbeatable returns and secure investment options. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
