FD interest of up to 9%: 9 banks that offer high interest rates on fixed deposits
Small finance banks (SFBs) often offer comparatively higher interest rates on fixed deposits (FDs) than what private and public sector banks offer. Interest rates on FDs usually range from 8 to 8.5% in small finance banks now. Higher returns can be lucrative for many but how safe is it to invest in FDs in small finance banks? Do remember that deposits in small finance banks are covered under the insurance scheme provided by Deposit Insurance and Credit Guarantee Corporation (DICGC) to the tune of Rs 5 lakh. The amount includes both principal amount and interest.
POTD, Sukanya Samriddhi Yojana interest rates hiked; investors who will get higher rates on these small saving schemes
Here's a look at some of these small finance banks that provide relatively high-interest rates for regular fixed deposits.
1. AU Small Finance Bank FD interest rate
Investors looking for twin engines of quality and growth.
AU Small Finance Bank offers FD interest rates ranging from 3.75% to 8% for tenures between 7 days and 10 years to general citizens. The highest interest rate of 8% is offered on FDs maturing in 18 months. The rates are effective from January 24, 2024.
2. Equitas Small Finance Bank FD interest rate
Equitas Small Finance Bank offers FD interest rates ranging from 3.5% to 8.50% for deposit tenures between 7 days and 10 years to general citizens. The highest interest rate of 8.50% is offered on FDs maturing in 444 Days. The rates are effective from August 21, 2023.
3. ESAF Small Finance Bank FD interest rate
ESAF Small
