look news india
New Delhi: For the last few years, due to low interest rates on bank fixed deposits, investors are preferring to invest in mutual funds and shares. However, there is no guarantee that mutual funds and shares will give you good returns. Besides this, it can also be a loss making deal. At the same time, fixed deposit is considered to be the safest investment, the interest rates on it are already fixed. Meanwhile, a small finance bank is offering the highest interest rates on most FDs.
9.10% interest on Suryoday Small Finance Bank FD
Suryoday Small Finance Bank has recently revised its fixed deposit interest rates for amounts less than Rs 3 crore. Along with this, the bank has also changed the interest rates on savings accounts. According to the information available on the official website of the bank, the new rates have become effective from September 4, 2024.
According to the information given on the website, Suryoday Small Finance Bank is offering 4.00 percent to 8.60 percent interest on its FD for general customers, while for senior citizens it is offering 4.50 percent to 9.10 percent interest on FD schemes. Note that these interest rates will be applicable on FD schemes of less than Rs 3 crore.
Revision in savings account interest rates also
Apart from this, the bank has also revised the interest rates on savings accounts. Now, 3 percent interest will be given on the amount of Rs 1 lakh, while 5 percent interest will be given on the amount between Rs 1 lakh to Rs 5 lakh. Apart from this, 7.25 percent interest will be available on the amount between Rs 5 lakh to Rs 10 lakh. At the same time, 7.5 percent return will be available on the amount of Rs 10 lakh to Rs 2 crore. At the same time, 7.75 percent return will be available on the amount of Rs 5 crore to Rs 25 crore.
According to the bank's website, “Interest will be calculated on the daily closing balance in the savings account as per the extant guidelines of the Reserve Bank of India. “Slab rates are applicable on incremental amounts based on the daily closing balance in the savings account.”