North East Small Finance Bank offers 8.5% interest on fixed deposits for a tenure of 1-less than 2 years.Small finance banks (SFBs) offer high interest rates on savings, fixed deposit and recurring deposit accounts.
Small finance banks, which cater to a niche customer base, offer higher interest rates than mainstream peers.
For instance, State Bank of India (SBI), the largest lender of the country, offers 6.80 per cent interest on fixed and recurring deposit for a tenure of one to less than two years.
However, small finance banks like ESAF Small Finance Bank, North East Small Finance Bank and Suryoday Bank offer higher interest rates than SBI.
For a tenure of 365 - 727 days, ESAF Small Finance Bank offers 8.75 per cent interest; for a tenure of one-less than two years, North East Small Finance Bank and Suryoday Bank both offer 8.50 per cent interest.(: Top Banks Pay Up To 7.75% Interest To Senior Citizens On Tax-Saving FDs.
Compare Returns Here)ESAF Small Finance Bank FD interest ratesTenure of depositRate of Interest effective from1st November2018Normal RateRate for Senior Citizens7 - 14 days5.50%6.00%15 - 59 days5.50%6.00%60 - 90 days6.25%6.75%91 - 179 days6.75%7.25%180 - 363 days7.50%8.00%364 days5.60%6.10%365 - 727 days8.75%9.25%728 days6.80%7.30%729 - 1091 days8.00%8.50%1092 days5.66%6.16%1093 - 1819 days7.00%7.50%1820 days5.65%6.15%1821 - 3652 days7.00%7.50%(: Fixed Deposit (FD) Interest Rates - Returns Offered By Private, Public Sector Banks)North East Small Finance Bank FD interest ratesTENURECard Rates < 1 Cr.Senior Citizen7-14 Days66.515-29 Days6.5730-45 Days6.757.2546-90 Days77.591-180 Days7.257.75181-364 Days7.581 year to less than 2 years8.592 years to less than 3 years88.53 Years to less than 5 Years7.257.755 years upto 10 years6.757.25(: Post Office Sukanya Samriddhi Account - Interest Rate, Premature Withdrawal, Other Details)Suryoday Bank FD interest ratesRates for amount < 1 Cr.Domestic Deposits (Effective: From September 29, 2018)PeriodInterest Rate(Per Annum)Senior Citizen Rate#(Per Annum)7 days to 14 days4.00%4.50%15 days to 45 days4.00%4.50%46 days to 90 days5.00%5.50%91 days to 180 days5.50%6.00%181 days to 240 days7.50%8.00%241 days to less than 1 Year7.75%8.25%1 Year to 2 Years8.50%9.00%Above 2 Years to 3 Years8.75%9.25%950 Days*9.00%9.50%Above 3 Years to less than 5 Years8.00%8.50%5 Years8.25%8.75%Above 5 Years to 10 Years7.25%7.75%Post offices offer FD interest rates between 6.9-7.8 per cent.