Which bank gives 9.5 interest on FD?
At Unity Small Finance Bank, senior citizens can get up to 9.50 per cent on FDs of 1,001 days. The bank revised rates on February 2, 2024.
Small Finance Bank | Interest p.a. (%) | Duration |
---|---|---|
Equitas Small Finance Bank | 8.5 | 444 days |
Utkarsh Small Bank | 9.10* | 2-3 years |
Jana Small Finance Bank | 9.0* | 2-3 years |
Ujivan Small Finance Bank | 8.25 | 560 days |
🌱 SBI fixed deposit rates
SBI offers the highest 12-month fixed deposit rate amongst Singapore banks in March 2024, with a rate of 3.20% p.a. for a 12-month fixed deposit. The minimum deposit required to earn this promotional interest rate is S$50,000.
Unity Small Finance Bank FD rates for senior citizens
At Unity Small Finance Bank, senior citizens can get up to 9.50 per cent on FDs of 1,001 days. The bank revised rates on February 2, 2024.
It depends on the type of card you're looking at, as well as your own credit. A credit card APR below 10% is definitely good, but you may have to go to a local bank or credit union to find it.
Banks | Highest FD rate (% p.a.) | 1-year FD rate (% p.a.) |
---|---|---|
Induslnd Bank | 7.75 | 7.75 |
Shivalik Small Finance Bank | 7.80 | 7.80 |
IDFC First Bank | 7.75 | 6.50 |
YES Bank | 7.75 | 7.25 |
FD Scheme | Interest Rate | Senior Citizen Rates |
---|---|---|
Punjab National Bank FD | 6.8 % | 7.3 % |
Dhanlaxmi Bank FD | 6.75 % | 7.25 % |
Union Bank of India FD | 6.75 % | 7.25 % |
Central Bank of India FD | 6.75 % | 7.25 % |
Getting the best FD interest rates
The interest rate on Fixed Deposits varies across tenures. First, check your bank's website for the interest rates on different tenures. Sometimes, extending your tenure by even a day could earn you a higher interest rate.
FDs paying more than 7% | ||
---|---|---|
Bank | Tenure | Senior Citizen FD Rate (per annum) |
ESAF Bank | 2 years to less than 3 years | 9.00% |
Fincare Small Finance Bank | 1,000 days | 9.11% |
Ujjivan Small Finance Bank | 12 months /560 days | 8.85% |
Which bank gives 8% return?
DCB Bank: This bank provides interest rates of up to eight per cent on savings accounts, making it the top choice among private banks in terms of interest rates. The minimum balance requirement ranges from ₹2,500 to ₹5,000.
DCB Bank savings account interest rates
DCB Bank offers up to 8% interest on savings accounts with balances ranging from Rs 10 lakh to less than Rs 2 crore. The bank pays 7.75% interest on savings account balances ranging from Rs 10 crore to less than Rs 200 crore. The rates are effective from September 27, 2023.
Small Finance Banks | Interest Rates (% p.a.) | |
---|---|---|
Federal Bank | 7.50 | 6.60 |
HDFC Bank | 7.25 | 7.00 |
ICICI Bank | 7.20 | 7.00 |
IDBI Bank | 7.25 | 6.50 |
The revised fixed deposit rates are effective from February 27, 2024. Kotak Mahindra Bank offers an interest rate between 2.75% to 7.40% to general citizens and 3.25% to 7.90% for senior citizens.
SBI offers FD interest rates of 3.50%-7.10% p.a. to the general public and 4.00%-7.60% p.a. to senior citizens for tenures ranging from 7 days to 10 years. The interest rate of SBI Tax Saving FD is 6.50% p.a.
Ujjivan Small Finance Bank
Ujjivan SFB offers an interest rate between 3.75% to 8.25% for general citizens on domestic fixed deposits and Sampoorna Nidhi. For senior citizens, the bank offers 4.25% to 8.75%. These rates are effective from June 1, 2023.
Senior Citizen Fixed Deposits (FDs) are term deposit plans with special interest rates offered to individuals who are over the age of 60. The rate of interest on senior citizen FDs in India ranges from 3.00% to 8.50% for tenures ranging from less than one year to more than five years.
Institution | APY | Required Opening Deposit |
---|---|---|
Ivy Bank | 5.30% | $2,500 |
TAB Bank | 5.27% | Any amount |
TotalDirectBank | 5.26% | $25,000 |
Jenius Bank | 5.25% | Any amount |
"With no fixed rate" means that there is no fixed rate period during which the interest can't change, meaning that the 9.5% can increase. the interest rate on the note remains the same through the term of the loan, as opposed to loans where the interest rate may adjust or "float".
Credit score | Average loan interest rate |
---|---|
720–850 | 10.73%-12.50% |
690–719 | 13.50%-15.50% |
630–689 | 17.80%-19.90% |
300–629 | 28.50%-32.00% |
What is a too high-interest rate?
A high-interest loan has an annual percentage rate above 36%, the highest APR that most consumer advocates consider affordable. High-interest loans are offered by online and storefront lenders that promise fast funding and easy applications, sometimes without checking your credit.
HDFC Bank is offering interest rates ranging from 3.00% to 7.20% for general customers and 3.50% to7. 75% for senior citizen customers. Fixed deposit (FD) interest rates for amounts below Rs. 2 crore for general and senior citizen customers range from 3.50% to 7.00% and 4.00% to 7.50, respectively.
Banks | Interest rate for General Citizens Tenure (7 days to 10 years) | Interest rate for Senior Citizens Tenure (7 days to 10 years) |
---|---|---|
HDFC | 3.00% – 7.00% | 3.50% – 7.75% |
Post Office | 6.90% – 7.50% | 6.90% – 7.50% |
Axis Bank | 3.00% – 7.00% | 3.50% – 7.75% |
ICICI Bank | 3.00% – 6.90% | 3.50% – 7.50% |
Is it a good idea to invest in Shriram Finance FD? Yes, the Shriram Finance FD is one the safest FDs in the market, with an AA+ (Stable) rating by ICRA and an IND AA+/Stable rating by India Ratings and Research, which indicate high degree of safety and credibility.
Bank/NBFC/HFC | Non-Senior Citizen (p.a.) | Monthly Interest Payout |
---|---|---|
Kotak Mahindra Bank | 6.20% | ₹ 5,167 |
SBI | 6.50% | ₹ 5,417 |
AU Small Finance Bank | 7.25% | ₹ 6,042 |
Ujjivan Small Finance Bank | 7.20% | ₹ 6,000 |
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