Suryoday Small Finance Bank (SSFB) has revised interest rates on fixed deposits, that will come into effect on Monday. The interest rates are revised in five years tenor by 85 basis points (bps).
After the revision, regular customers would be able to get 8.60 per cent interest rate on above two to three years of deposit. Whereas, senior citizens can get 9.10 per cent interest rate. Other than this, the bank is also offering interest rate up to 7 per cent to its savings account customer in above ₹5 lakhs up to ₹2 crore slab.
Here is the list of interest rate on deposits below ₹2 crore for regular customers as well as senior citizens.
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For thos who are depositing their money for long term like five years, here is the interest rate for deposits up to 10 years.
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It is worth noting that the minimum tenure to earn FD interest is seven days. The bank also revised its recurring deposits interest rates. For keeping a recurring deposit amount for up to five years will bring 8.25% p.a. interest rates for regular customers and 8.75% interest rates for senior citizens. For RD of tenure five to ten years, interest rate is 7.25% for regular customers and 7.75% for senior citizens. Here is the list of other interest rates applicable on different tenures of recurring deposits.
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Suryoday Small Finance Bank
Established in 2017, Suryoday Small Finance Bank endeavours to bring banking solutions to the ‘banked’, ‘under-banked’ and the ‘un-banked’ sections of the society.
The bank offers small loans like MFI loans, Vikas Loans, Shopkeeper Loans etc. to new and current customers. The small finance bank is led by Baskar Babu Ramachandran who is the Managing Director and Chief Executive Officer of Suryoday Small Finance Bank. Suryoday small finance bank became a publically listed bank on 26th March 2021.
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Updated: 07 Aug 2023, 03:15 PM IST
