Suryoday Small Finance Bank (SSFB) has revised interest rates on fixed deposits on Interest rates in 1 to 5-year tenor was revised by 49 to 160 basis points (bps). The new rates are effective from May 5, 2023.
Suryoday Small Finance Bank
After the revision, the bank is offering general public with interest at a rate of 4.00 percent to 9.10 percent, and senior citizens at a rate of 4.50 percent to 9.60 percent for deposits less than Rs 2 crore with maturities ranging from 7 days to 10 years.
Regular consumers may now earn 9.10 percent interest rate, while senior citizens can get a 9.60 percent on 5-year deposit.
| Rates for amount < 2 Crore | Domestic Deposits (Effective: From May 05, 2023) | |
| Period | Interest Rate | Senior Citizen Rate # |
| (Per Annum) | (Per Annum) | |
| 7 days to 14 days | 4.00% | 4.50% |
| 15 days to 45 days | 4.25% | 4.75% |
| 46 days to 90 days | 4.50% | 5.00% |
| 91 days to 6 months | 5.00% | 5.50% |
| Above 6 months to 9 months | 5.50% | 6.00% |
| Above 9 months to less than 1 Year | 6.00% | 6.50% |
| 1 Year | 6.85% | 7.35% |
| Above 1 Year to 2 Year | 8.50% | 9.00% |
| Above 2 years to 998 days | 7.51% | 8.01% |
| 999 Days | 9.00% | 9.50% |
| 32 Months 27 Days to 3 Years | 7.25% | 7.75% |
| Above 3 Years to less than 5 Years | 6.75% | 7.25% |
| 5 Years | 9.10% | 9.60% |
| Above 5 years to 10 years | 7.25% | 7.75% |
Savings account
Savings account customers with balances exceeding Rs. 5 Lakhs and up to Rs. 2 Crore are also eligible for interest rates of up to 7.00 percent. The bank is protected by DICGC, means your investment up to Rs 5 lakh is covered under the insurance.
| Savings Account Rate (Effective: From March 01, 2023) | |
| Daily Closing Balance Slabs (Domestic/NRE/NRO) | % rate per annum* |
| Up to and including Rs. 1 Lakh | 3.75% |
| Above Rs. 1 Lakh up to & including Rs. 5 Lakh | 6.75% |
| Above Rs. 5 Lakh up to & including Rs. 50 Lakh | 7.00% |
| Above Rs. 50 Lakh up to & including Rs. 2 Crore | 7.00% |
| Above Rs. 2 Crore up to & including Rs. 5 Crore | 6.50% |
| Above Rs. 5 crore | 5.00% |
NRI deposit
| Rate for amount < 2 Crore | Non-Resident Deposits (Effective: From May 05, 2023) | |
| Period | NRE Interest Rate | NRO Interest Rate |
| (Per Annum) | (Per Annum) | |
| 7 days to 14 days | NA | 4.00% |
| 15 days to 45 days | 4.25% | |
| 46 days to 90 days | 4.50% | |
| 91 days to 6 months | 5.00% | |
| Above 6 months to 9 months | 5.50% | |
| Above 9 months to less than 1 Year | 6.00% | |
| 1 Year | 6.85% | 6.85% |
| Above 1 Year to 2 Year | 8.50% | 8.50% |
| Above 2 years to 998 days | 7.51% | 7.51% |
| 999 Days | 9.00% | 9.00% |
| 32 Months 27 Days to 3 Years | 7.25% | 7.25% |
| Above 3 Years to less than 5 Years | 6.75% | 6.75% |
| 5 Years | 9.10% | 9.10% |
| Above 5 years to 10 years | 7.25% | 7.25% |
