FD Hike: North East Small Finance Bank (NESFB) is offering up to 9.25 per cent return on FD for general citizens, while for senior citizens it is offering up to 9.75 per cent interest.
FD Interest Rate Hike: In the month of June, many banks have changed their interest rates on fixed deposits. In this episode, North East Small Finance Bank (NESFB) has also changed the FD rates. NESFB has increased the interest rates on fixed deposits by 0.50 percent, after which it has become the bank giving the highest return on FD in the country.
North East Small Finance Bank is offering up to 9.25 percent return on FD for common citizens, while offering up to 9.75 percent interest for senior citizens. Earlier, the bank was giving 8.75 percent interest to its common citizens, while offering interest rates up to 9.25 percent to senior citizens.
Paying the highest interest on fixed deposits in the country
NESFB said that it is offering 8.75 percent interest on FD of 366-545 days and 9.25 percent interest to senior citizens. This interest is being given on FDs up to Rs 5 crore. For FDs up to Rs 5 crore and 546-1,111 days, the bank is giving an interest rate of 9.25 percent to general customers and 9.75 percent to senior citizens.
NESFB FD rates for senior citizens
7 – 14 days: 3.75 per cent
15 – 29 days: 4.25 per cent
30 – 45 days: 4.75 per cent
46 – 90 days: 5.25 per cent
91 – 180 days: 6.75 per cent
181 – 365 days: 7.50 per cent
366 – 545 days: 9.25 per cent
546 – 1111 days: 9.50 per cent
1112 – 1825 days: 8.50 per cent
1826 – 3650 days: 6.75 per cent
Is it safe to keep money in NESFB?
Now the question arises whether it is safe to keep money in North East Small Finance Bank? Let us tell you that the only relief available to the depositor in case of bank sinking or going bankrupt is the insurance cover provided by Deposit Insurance and Credit Guarantee Corporation i.e. DICGC. North East Small Finance Bank Limited is registered with DICGC. This means that the amount deposited in the bank up to Rs 5 lakh will be insured.
