Fixed deposit, ie FD, is an option where the money of the people is more or less safe and there is a predetermined interest on maturity.
Highest Interest rates on FD:
In this era of corona epidemic (COVID19 Pandemic), people are now relying more on safe and fixed return options. Fixed deposit ie FD is an option where the money of the people is more or less safe and there is a predetermined interest on maturity. Interest rates on FDs in commercial banks are not more attractive than before. Nevertheless, there are some small finance banks, who are bearing interest up to 7.51 per cent on FD. Let’s know about the latest interest rates of FDs of 4 small finance banks …
Jana Small Finance Bank
- 7 days to 14 days – 2.50 percent
- 61 days to 90 days – 3.75 percent
- 91 days to 180 days – 4.50 percent
- 365 days – 6.75 percent
- 1 year to 2 years – 7.0 percent
- 2 years to 3 years – 7.0 percent
- 1188 days to 1191 days – 7.51 percent
- 5 years – 7.0 percent
Equitas Small Finance Bank
- 1 year to 18 months – 6.50 percent
- 18 months 1 day to 2 years – 6.40 percent
- 2 years 1 day to 887 days – 6.65 percent
- 3 years to 4 years – 6.40 percent
- 4 years to 5 years – 6.40 percent
- 5 years to 10 years – 6.65 percent
AU Small Finance Bank
- 12 months 1 day to 15 months – 6.35 percent
- 18 months 1 day to 2 years – 6.25 percent
- 2 years 1 day to 36 months – 6.50 percent
- 36 months 1 day to 45 months – 6.25 percent
- 60 months 1 day to 120 months – 6.50 percent
Ujjivan Small Finance Bank
- 7 days to 29 days – 3.05 percent
- 1 year to 2 years- 6.50 percent
- 2 years 1 day to 3 years – 6.75 percent
- 3 years 1 day to 5 years- 6.75 percent
- 5 years 1 day to 19 years – 5.80 percent
How safe is your FD
Insurance cover up to Rs 5 lakh is available on FD in government, private and small finance banks. This insurance cover is provided to the Deposit Insurance and Credit Guarantee Corporation (DICGC) customers, a wholly owned entity of the Reserve Bank. This means that if the bank defaults under any condition, then the government will be guaranteed on your 5 lakh rupees. In the default case, you will get 5 lakh rupees. Earlier this amount was 1 lakh rupees.
