Few Fixed Deposit (FD) Schemes That Offer Over 6.5% Interest
For risk-averse investors, debt is the most popular investment option as it provides guaranteed returns.
Fixed Deposit (FDS) Balance. Popular with Indians looking to invest in safe, guaranteed returns for decades. Read all the latest updates about COVID-19 here.
Though FDs are a good investment option, interest rates have come down in recent years, reducing their attractiveness. After the outbreak of the covid-19 Pandemic, FD rates slashed, however, some small banks offer higher returns on one-year bank fixed deposits.
John Small Finance Bank, ESAF Small Finance Bank, Sunrise Small Finance Bank, and Utkarsh Small Finance Bank will continue with special offers. Interest rates up to 6.25% on one-year FDs for general depositors and up to 6.75% for senior citizens.
John Small Finance Bank
The interest rate on John Small Finance Bank's fixed deposits of 7-14 days is 2.50%, while the rate of 15 to 60 days fixed deposits is 2%.
Small Financing Bank offers an interest rate of 3.75% on 61- to 90-day bank FDs and 4.50% on 91- to 180-day FDs.
De John Small Finance Bank offers a 5.50% fixed deposit interest rate and a 6.25% fixed deposit interest rate for tenors ranging from 181 to 364 days.
For a year or 365 days. John Small Finance Bank is offering an additional 0.50% refund for Senior Citizens of all ages.
Excellent Microfinance Bank
Small Finance Bank is offering 3% FD interest on deposits for a tenure of 7 to 45 days. This microfinance bank offers an interest rate of 3.25%
4% on 46- to 90-day fixed deposits and 91- to 180-day FDs. The fixed deposit rate is 5.75%. available here
Bank tenure for a period of 181 to 364 days. Utkarsh Small Finance Bank offers 6.25% interest rate on term deposits with terms and conditions.
365 to 699 days.
Lenders are also offering 50 basis point bonus on all tenors. As a result, this small financial bank is offering up to 6.75% interest to the depositors.
One year bank deposit.
ESAF Small Finance Bank
The interest rate on ESAF Small Finance Bank FD for 7-14 days is 4.00% and the same fixed deposit rate for 15 to 59 days is 4.50%. Small
Finance Bank offers an interest rate of 5.25% on FDs of 60 to 90 days and 5.50% on FDs of 91 to 181 days.
The interest rates on fixed deposits range from 6.00% to 6.25% for 183 to 363 days and 6.25% for one year, 365 days and 366 days.
The bank offers a 3.25% FD interest rate on deposits of 7 to 14 days. This microfinance bank offers a 3.25% interest rate on fixed deposits.
4.75% interest rate on FDs of 46 to 90 days and FDs of 91 to 180 days. The bank's fixed deposit rate is 5.25%
Deposit with tenure of 6 to 9 months. The interest rate on fixed deposits of 1 year and 6 months is 365 to 6.50%.
SOURCE: ETNOW
