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A special 999-day fixed deposit (FD) with an interest rate of 8% for the general public and 8.50% for senior citizens has been introduced by ESAF Small Finance Bank (ESAF SFB). This special FD programme will be available till 30 November 2022. In addition to this limited-time offer, ESAF SFB revised the interest rates on fixed deposits below ₹2 Cr. The bank is now offering interest rates on FDs with maturities ranging from 7 days to 10 years that range from 4.00% to 5.25% for the general public and 4.50% to 5.75% for senior citizens. “Special FD rate of 8.00% for 999 days will be available till 30-Nov-2022,” ESAF SFB has mentioned on its website.
ESAF SFB FD Rates
The bank is now giving an interest rate of 4.00% on fixed deposits that mature in the next 7 to 14 days, and ESAF Small Finance Bank (ESAF SFB) will also be offering an interest rate of 4.50% on those that mature in the next 15 to 59 days. Deposits that mature in the next 60 to 90 days will now pay interest at a rate of 5.00%, and those that mature in the next 91 to 182 days will now pay interest at a rate of 5.25%. The interest rates offered by ESAF Small Finance Bank (ESAF SFB) are now 5.50% for FDs maturing in 183 days to a year and 6.60% for those maturing in 1 year, 1 day, to less than 2 years.
On fixed deposits maturing in 2 years to 998 days, the bank will now pay an interest rate of 7.25% and on those maturing in 999 days, ESAF SFB will now pay an interest rate of 8.00%. Deposits maturing in 1000 days to less than 3 years shall now pay an interest rate of 7.25% and those maturing in 3 years to 5 years will now fetch an interest rate of 5.75%. ESAF Small Finance Bank will now pay an interest rate of 5.25% on deposits maturing in 5 years to 10 years.
The below-stated interest rates are applicable to both new and renewed resident term deposits. The interest rates mentioned below also apply to resident recurring deposits.
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Meanwhile, Suryoday Small Finance Bank has announced an interest rate hike on fixed deposits and Ujjivan Small Finance Bank has hiked interest rates on savings accounts. Furthermore, Unity Small Finance Bank Limited (Unity Bank) has introduced Shagun 366, a 1 year, 1 day fixed deposit that guarantees retail customers an appealing return of 7.80% per annum while senior citizens can get 8.30 per annum for a 366-day term. Only deposits made before November 30, 2022, are eligible for this offer. On the other hand, Yes Bank, one of the leading lenders in the private sector, today announced an increase in interest rates on savings accounts and term deposits.
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