FD Rates Hikes: The Central Government and Reserve Bank of India are taking continuous steps to control the rising inflation in the country. The Reserve Bank has increased the Repo Rate (RBI Repo Rate) in the months of May, June and August. Since then, many banks are continuously increasing the interest rates of their deposit rates like Fixed Deposit Rates, Saving Account, RD etc. Now the name of another small finance bank has been added to this list. The name of this bank is Suryoday Small Finance Bank.
According to the information given on the official website of the bank, Suryoday Small Finance Bank (Suryoday Small Finance FD Rates) has decided to increase its interest rates on deposits of less than Rs 2 crore. The bank has increased its FD interest rates by up to 100 basis points i.e. 1%. These new rates have come into effect on 24 September 2022. The bank is offering the highest interest rate i.e. 7.49% on 999 days FD. If you are also planning to do an FD of less than Rs 2 crore in the bank, then we are giving you information about the interest rates offered by Suryoday Small Finance Bank on different tenors-
The interest rate available to ordinary citizens on FD of less than 2 crores-
- 7-14 day FD-4.00%
- FD of 15-45 days – 4.25%
- FD of 46-90 days – 4.50%
- FD up to 91-6 months – 5.00%
- FD of 6 to 9 months – 5.50%
- FD from 9 months to 1 year – 6.00%
- FD-7.00% from 1 year to 1 year 6 months
- FD from 1 year 6 months to 2 years – 7.25%
- FD of 2 years to 998 days – 7.25%
- 999 days FD – 7.49%
- 31 Months 27 Days FD to 3 Year FD – 7.00%
- FD of 3 to 5 years – 6.75%
- 5 year FD-6.75%
- FD of 5 to 10 years – 6.00%
The interest rate available to senior citizens on FDs of less than 2 crores-
- 7-14 day FD-4.50%
- FD of 15-45 days -4.75%
- 46-90 Days FD-5.00%
- FDs up to 91-6 months- 5.50%
- FD from 6 to 9 months – 6.00%
- FD from 9 months to 1 year – 6.50%
- FD from 1 year to 1 year 6 months – 7.50%
- FD from 1 year 6 months to 2 years – 7.75%
- FD of 2 years to 998 days – 7.75%
- 999 days FD – 7.99%
- 31 Months 27 Days FD to 3 Year FD – 7.50%
- FD of 3 to 5 years – 7.25%
- 5 Year FD-7.25%
- FD of 5 to 10 years – 6.50%
Many banks increased FD rates-
At this time, inflation has broken the back of common people all over the world including India. Due to this, the Reserve Banks of the world are increasing their interest rates. The Reserve Bank of India is continuously increasing the repo rate. The bank has increased the repo rate from 4.00% to 5.40% overall in three months. Due to this, FD rates, savings accounts and RD rates are increasing continuously. In the recent past, many banks in the country like Bank of Baroda, Axis Bank, Indian Overseas Bank, IndusInd Bank, Bandhan Bank etc. has increased its FD rates.
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