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Fixed deposit (FD) interest rates of small finance banks are higher than those offered by post offices.Fixed deposits or FDs, which offer higher interest rates than savings bank accounts, are not only offered by leading banks like State Bank of India (SBI) but also by small finance banks and post offices across the country.

FD interest rates of small finance banks like Equitas Small Finance Bank, Utkarsh Small Finance Bank and Jana Small Finance Bank are much higher than those of SBI, HDFC Bank, and ICICI Bank.

Even if you compare FD interest rates of small finance banks with those offered by post offices, you will be surprised that these banks offer better interest rates.(: India Post Payments Bank Zero Balance Accounts - 10 Things To Know)Why are fixed deposit interest rates of small finance banks higher than peers"Small finance banks serve a niche area and in order to grow their scale, the most important segment for them is their FD customers, unlike the banking behemoths for whom the current account customers and corporate customers are relatively more important.

Small finance banks do offer higher rates because at this point they are aggressively trying to scale up their deposit franchise," said Rahul Agarwal, Director Wealth Discovery/EZ Wealth.Given below are fixed deposit interest rates of Equitas Small Finance Bank, Utkarsh Small Finance Bank, Jana Small Finance Bank and post offices:Fixed deposit (FD) interest rates of Equitas Small Finance BankFixed deposit Interest rates for Domestic/NRE/NRO (for INR) with effect from July 5, 2018TenureInterest rate for amount less than Rs.

1 Crorew.e.f 05th July 20187 - 14 days5.00%15 - 29 days5.50%30 - 45 days6.00%46 - 62 days6.25%63 - 90 days6.25%91- 120 days6.50%121- 180 days6.50%181 - 210 days6.75%211- 270 days6.75%271- 364 days7.50%1 year to 18 months8.00%18 months 1 day to 2 years7.75%2 years 1 day to 3 years7.75%3 years 1 day to 4 years7.00%4 years 1 day to 5 years7.00%5 years 1 day to 10 years7.00% Tax will be deducted at source and that will be extra, according to equitasbank.com.Fixed deposit (FD) interest rates of Utkarsh Small Finance Bank, according to utkarsh.bank: TenureRate of Interest (% p.a.)-W.E.F.

from 14° March 2018GENERALSENIOR CITIZEN7 Days to 15 Days3.50%4.00%16 Days to 28 Days3.50%4.00%29 Days to 45 Days4.00%4.50%46 Days to 90 Days4.50%5.00%91 Days to 120 Days5.00%5.50%121 Days to 179 Days5.50%6.00%180 Days to 210 Days6.00%6.50%211 Days to 270 Days7.00%7.50%271 Days to Less than 1 Year7.50%8.00%1 Year to 455 Days8.25%8.75%456 Days to Less than 2 Years8.50%9.00%2 Years to Less than 3 Years7.85%8.35%3 Years to Less than 5 Years7.00%7.50%5 Years8.00%8.50%More than 5 Years to 10 Years7.00%7.50% Fixed deposit (FD) interest rates of Jana Small Finance Bank, according to janabank.com:PeriodInterest Rate7 days and up to 45 days7%46 days -180 days7%181 days to less than 1 year8%1 year (365 days)8%366 days8.25%Above 366 days to less than 3 years8%3 years to less than 5 years8%5 years and up to 10 years7% Fixed deposit (FD) interest rates of post officesPeriodRate1yr.A/c6.60%2yr.A/c6.7%3yr.A/c6.90%5yr.A/c7.40% (: Post Office Saving Schemes Offer Interest Rates Between 4%-8.3%)You can go into any post office and open a fixed deposit account via cash/ cheque.

You can transfer this account to any post office and can open any number of accounts, according to indiapost.gov.in, the website of India Post. 





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