Many banks have increased the interest rates on loans and fixed deposits as a result of the Reserve Bank of India raising the repo rate multiple times. Senior citizens and common citizens alike can take advantage of low fixed deposit interest rates offered by small finance banks.
In this article, we will talk about four small financial institutions that are providing senior citizens with FDs at interest rates of up to 9.5%.
Common individuals can obtain loans from Suryoday Small Finance Bank at interest rates ranging from 4% to 6% for terms ranging from seven days to ten years. On the other hand, seniors can take advantage of interest rates that range from 4.50% to 6.50% during the same time frame.
In addition, the bank is offering interest rates of 7.5% and 8.5% to common people on FDs lasting between 2 and 998 days under the Special FD scheme, and 8.1% and 8.76% to senior citizens on the same period.
Unity Small Finance Bank has launched three distinct FD plans with interest rates ranging from 8.75 percent for regular borrowers to 9.25 percent for senior citizens on FDs lasting between 180 and 201 days. The bank is offering interest rates of 8.75 percent and 9.5%, respectively, for 501-day and 1001-day FDs to common people and 9.25 percent and 9.5%, respectively, for senior citizens.
For FDs with a term of two to three years, Jana Small Finance Bank is offering general customers 8.10 percent interest, while seniors can take advantage of 8.80 percent interest.
Lastly, senior citizens can get 1111-day FDs from the North East Small Finance Bank at interest rates of 8.75 percent, while the general public can get FDs at interest rates of 8%.
