FD Rates Hikes: The Central Government and Reserve Bank of India are continuously taking action to rein in the nation’s growing inflation. In the months of May, June, and August, the Reserve Bank raised the repo rate (RBI repo rate). Since then many banks have been continuously increasing the interest rates of their deposits such as fixed deposit rates, savings accounts, RD, etc. Another minor financial bank’s name has recently been added to this list. Suryoday Small Finance Bank is the name of the institution.
According to the information given on the bank’s official website, Suryoday Small Finance Bank (Suryoday Small Finance FD Rates) has decided to increase its interest rates on deposits of less than Rs 2 crore. The bank raised its fixed-rate deposits by 100 basis points, or 1. up to 1%. These new rates have come into effect from 24 September 2022. The bank is offering the highest interest rate i.e. 7.49% on FDs of 999 days. We are informing you about the interest rates available if you also intend to open a bank FD for less than Rs 2 crore. by Suryoday Small Finance Bank on different tenures-
The interest rate available to common citizens on FD of less than 2 crores-
7-14 day FD-4.00%
FD of 15-45 days – 4.25%
FD of 46-90 days – 4.50%
FD up to 91-6 months – 5.00%
FD of 6 to 9 months – 5.50%
FD from 9 months to 1 year – 6.00%
FD-7.00% 1 year to 1 year 6 months
FDs from 1 year 6 months to 2 years – 7.25%
FD from 2 years to 998 days – 7.25%
999 days FD – 7.49%
31 Months 27 Days FD to 3 Year FD – 7.00%
FD of 3 to 5 years – 6.75%
5 Year FD-6.75%
FD of 5 to 10 years – 6.00%
Interest rate available to senior citizens on FD of less than 2 crores-
7-14 day FD-4.50%
FD of 15-45 days -4.75%
46-90 Days FD-5.00%
FD up to 91-6 months- 5.50%
FD of 6 to 9 months – 6.00%
FD from 9 months to 1 year – 6.50%
FD from 1 year to 1 year 6 months – 7.50%
FDs from 1 year 6 months to 2 years – 7.75%
FD from 2 years to 998 days – 7.75%
999 days FD – 7.99%
31 Months 27 Days FD to 3 Year FD – 7.50%
FD of 3 to 5 years – 7.25%
5 Year FD-7.25%
FD of 5 to 10 years – 6.50%
Many banks increased FD rates –
Currently, inflation has shattered the backs of everyday people everywhere, especially in India. Due to this, the Reserve Bank of the world is increasing their interest rates. The repo rate is steadily rising thanks to the Reserve Bank of India. The bank has increased the repo rate from 4.00% to 5.40% in three months. Due to this, the rates of FD, savings account, and RD rates are increasing continuously. In recent times many banks in the country like Bank of Baroda, Axis Bank, Indian Overseas Bank, IndusInd Bank, Bandhan Bank, etc. have increased their FD rates.
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