Earn over 9% interest on THESE FDs – Customers can now take advantage of higher FD interest rates. With a hike in fixed deposit interest rates in two small finance banks, you can now receive over 9 per cent interest rate.
There are many investment options in FD to choose from. There are many small banks that offer higher returns than big commercial banks. If you want, you can make good money by investing in FDs offered by these banks.
The latest entrant in the bloc are two small finance banks which are offering 9 per cent interest rate on FDs to senior citizens, which is way higher than most of the investment schemes like:
Public Provident Fund (PPF) providing interest rate of 7.1 per cent
Sukanya Samriddhi Yojana (KVP)- 7.6 per cent
Here are banks offering 9% interest rate to senior citizens
Suryoday Small Finance Bank
Suryoday Small Finance Bank is offering 9.26 per cent interest rate on FDs per annum to senior citizens.
Unity Small Finance Bank
Unity Small Finance Bank is offering 9 per cent interest rate on FDs per annum to senior citizens while general customers can get 8.50 per cent interest rate for a tenure of 181 days.
Here’s list of banks offering over 7% interest rate on fixed deposits
Canara Bank
The Bank offers a special fixed deposit scheme that provides a 7.50% interest rate for a tenure of 666 days. The bank under the scheme is offering a 7% interest rate for general customers, whereas senior citizens will get a 7.5% interest on this fixed deposit plan.
Utkarsh Small Finance Bank
The Bank offers a fixed deposit scheme that provides up to 8.50 percent interest rate for a tenure of 700 days.
RBL Bank
The Bank offers a fixed deposit scheme that provides upto 7.75 per cent interest rate for a tenure of 725 days. The bank under the scheme is offering a 7.25 per cent interest rate for general customers, whereas senior citizens will get 7.75 per cent interest on this fixed deposit plan. This scheme is for the amount under Rs 2 crore.
Union Bank of India
Union Bank of India offers interest rates ranging upto 7 per cent on FDs for a tenure of 599 days.
IDFC First Bank
For 750-day fixed deposits, the bank offers 7.25 per cent to general customers and 7.75 per cent to senior citizens.
Also Read | Do THESE steps to earn upto 8% interest on your savings bank account | Check latest interest rate of banks, savings account interest rate HDFC, SBI, ICICI, Auto Sweep, Savings Plus account