These 9 small finance banks are paying higher interest on FDs than government banks

New Delhi. With ease of investment, guaranteed returns, different tenure options and high liquidity, Fixed Deposit (FD) is one of the most preferred investment options in our country. If you are planning to invest in Fixed Deposit then this news is useful for you.

The Reserve Bank of India has maintained the repo rate at 6.5 percent for the ninth consecutive time this month, prompting many banks to increase their FD interest rates. Due to the RBI’s stance, many government, private and small finance banks are offering attractive interest rates on FDs. Many small finance banks in the country are offering very high interest rates to their investors compared to government banks.

Highest tenure interest rates

1. AU Small Finance Bank 18 months 8%
2. Equitas Small Finance Bank 444 days 8.5 percent
3. EASF Small Finance Bank 2 years to less than 3 years 8.25%
4. Jana Small Finance Bank 365 days to 1095 days 8.25%
5. North East Small Finance Bank 546 days to 1111 days 9 percent
6. Suryoday Small Finance Bank 2 years 2 days 8.65%
7. Ujjivan Small Finance Bank 12 Months 8.25%
8. Unity Small Finance Bank 1001 9 per cent
9. Utkarsh Small Finance Bank 2 years to 3 years, 1500 days 8.25%

Is it safe to keep money in these small finance banks?
Now the question arises whether it is safe to keep money in a small finance bank? In case of a bank sinking or going bankrupt, the only relief the depositor has is the insurance cover provided by the Deposit Insurance and Credit Guarantee Corporation i.e. DICGC. The insurance cover on bank deposits under DICGC is up to Rs 5 lakh. The insurance cover provided by DICGC works on deposits like savings accounts, FDs, current accounts, RDs etc.

If your money is deposited in any bank, you can check whether it is registered for deposit insurance or not by clicking on the link given below…

Here is the link-

Tag: bank fd, FD Rates, Fixed deposit