Despite the RBI not changing the repo rate, many banks have changed the interest rates on fixed deposits this month. All these banks are giving up to 8% interest on FD.
Bank FD: The month of August is going to end in a few days. The Reserve Bank of India (RBI) did not make any change in the repo rate. Despite this, many banks have revised the interest rates of fixed deposits. Not only this, more than 8 percent interest is being offered by these banks. All these are small finance banks.
Equitas Small Finance Bank
Equitas Small Finance Bank has made its new interest rates effective on 21st August. The bank is giving 8.50 percent interest to common citizens on FDs ranging from 7 days to 10 years. More than 8 percent interest is being received on FDs of 1 year, 1 year one day, 1 year 444 days, 445 days to 18 months, 888 days, 889 days to 3 years and 2 days to 443 days. The highest interest is on FD of 444 days, the rates are 8.50 per cent.
Suryoday Small Finance Bank
Suryoday Small Finance Bank has also changed the fixed deposit interest rates this month. The bank is giving 4 per cent to 8.60 per cent interest. Senior citizens are getting 50 basis points more interest. The new rates are applicable from August 7. The highest interest is being received on FDs of 2 years to 3 years. The rates are 8.60% for general citizens and 9.10% for senior citizens.
Utkarsh Small Finance Bank
Utkarsh Small Finance Bank has also changed the FD interest rates. The bank is offering 4% to 8.50% interest on FDs of 7 days to 10 years. The new rates are effective. The highest interest is available on tenure of 1095 days, the rates for common citizens are 8.50%.
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