INSUBCONTINENT EXCLUSIVE:
Small finance banks often pay higher returns on deposits in savings accounts compared to commercial banksSmall finance banks often pay
higher interest rates on deposits compared to commercial banks
Primarily aimed at financial inclusion, small finance banks often pay higher returns on deposits in savings accounts compared to commercial
banks, such as State Bank of India (SBI)
Small finance banks, such as AU, Equitas, Suryoday, Jana and Ujjivan, pay interest to tune of 4-8 per cent (per annum) on balance in savings
Finance Bank pays following interest rates on deposits in its savings account:Savings account balanceRate of Interest applicable (per
annum)Less than Rs 1 lakh5.00%Rs 1 lakh to less than Rs 10 lakh6.50%Rs 10 lakh and above (up to Rs 10 crore)6.75%(Source: aubank.in)Capital
Small Finance BankCapital Small Finance Bank pays following interest rates on deposits in its savings account:Type of domestic accountRate
of interest (general public and senior citizen)Savings Bank Account without Cheque Book Facility4.00%Savings Bank Account with Cheque Book
Facility4.00%Basic Savings Bank Account (Suvidha Bachat)4.00%(Source: capitalbank.co.in)Fincare Small Finance BankFincare Small Finance
lakh6.00%Above Rs 1 lakh7.00%(Source: fincarebank.com)Equitas Small Finance BankHere are interest rates paid by Equitas Small Finance Bank
balanceRate of interest (per annum)Up to Rs 1 lakh5.50%Above Rs 1 lakh and up to Rs 10 lakh6.00%Above Rs 10 lakh and up to Rs 1
crore6.50%Above Rs 1 crore and up to Rs 5 crore7.00%Above Rs 5 crore and up to Rs 30 crore7.25%Above Rs 30 crore and up to Rs 50
account:Savings Bank Account- Slab (day-end balance)Rate of Interest with effect from October 25, 2017Up to and including Rs.1
incremental amount above Rs.10 lakhs)7.00%(Source: esafbank.com)Suryoday Small Finance BankSuryoday Small Finance Bank offers following
interest rates on domestic deposits in its savings account with effect from November 12, 2018, according to its website -
suryodaybank.com:Daily Closing Balance Slabs (Domestic)Rate of Interest (per annum)Up to and including Rs
1 lakh up to and including Rs
10 lakh up to and including Rs
10 crore7.00%(Source: suryodaybank.com)Ujjivan Small Finance BankUjjivan Small Finance Bank offers following interest rates on deposits in
its savings account with effect from July 8, 2018, according to its website - ujjivansfb.in:AmountInterest rate (per annum)Up to 5 lakh4%> 5
lakh to 50 lakh5.50%> 50 lakh to 5 crore6.75%> 5 crore7%(Source: ujjivansfb.in)Utkarsh Small Finance BankInterest on deposits in its
standard savings account is paid at quarterly intervals on basis of end of day balance in accounts, according to Utkarsh Small Finance
Bank's website - utkarsh.bank
5 crore7%More than Rs 5 crore up to Rs 25 crore7.5%More than Rs
