FD interest rate up to 9.25%: These 3 banks have revised fixed deposit rates in March 2024

(Owing to their business model, small finance banks cannot be kept on par with other scheduled commercial banks. Hence FDs from small finance banks are also not comparable in terms of risk profile to full-service banks. However, when it comes to insurance, do keep in mind that deposits in small finance banks are also insured by the Deposit Insurance Credit Guarantee Corporation (DICGC) to the tune of Rs 5 lakh. Most of the experts advise layman retail investors to keep their exposure limited in FDs of small finance banks so that it is well within DICGC cover of Rs 5 lakh including principal and interest.)

Ujjivan Small Finance Bank

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Ujjivan Small Finance Bank offers interest rate between 3.75% to 8.50% for general citizens. The highest interest rate of 8.50% on tenure of 15 months and highest interest rate of 9% for senior citizens on same tenure. The rates are effective from March 7, 2024.

TenureInterest Rate (p.a.) (Under ₹ 2 Crores)7 Days to 29 Days3.75%30 Days to 89 Days4.25%90 Days to 179 Days4.75%6 Months to 9 Months5.50%9 Months 1 Day to 12 months6.50%12 months to 15 months8.25%15 months8.50%15 Months 1 Day to 560 Days8.25%561 Days to 989 Days7.50%990 Days7.75%991 Days to 60 Months7.20%60 months 1 Day to 120 Months6.50%Additional Interest Rate for Resident Senior Citizens0.50%

Shivalik Small Finance Bank
Shivalik Small Finance Bank offers an interest rate between 3.50% to 8.70% for general citizens. For senior citizens, interest rate vary between 4% to 9.20%. The highest interest rate of 8.70 % and 9.20%

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