1 week ago
Suryoday Small Finance Bank Revises FD Rates Up To 8.50%
Suryoday Small Finance Bank has different interest rates for fixed deposits of different lengths.
The highest listed rate is not for the longest deposit period.
It is available for a five-year deposit.
Regular customers can receive 8.25%, while senior citizens can receive 8.50%.
A 30-month deposit also offers a relatively high rate.
Senior citizens generally receive an extra 25 basis points at the highlighted tenures.
The annualised yield can be slightly higher than the advertised interest rate because of compounding.
People should make sure they will not need the money before the deposit matures.
Depositors should also check taxes, withdrawal rules and deposit insurance limits.
Suryoday Small Finance Bank offers its highest FD rate at 8.25% for regular customers and 8.50% for senior citizens over five years.
The 30-month FD offers 8.10% to regular customers and 8.25% to senior citizens.
The 18-month FD offers 7.80% to regular customers and 7.95% to senior citizens.
For a ₹10 lakh five-year FD, listed annualised yields are 8.51% for regular customers and 8.77% for senior citizens.
Investors should compare liquidity, premature-withdrawal rules, payout options, taxation and the ₹5 lakh DICGC insurance limit before investing.
- Who
- Suryoday Small Finance Bank, regular customers, senior citizens and NRIs.
- What
- The bank has listed revised fixed-deposit rates ranging from 4.00% to 8.50%, depending on tenure and depositor category.
- Where
- When
- Why
Key facts
- Highest regular-customer rate
- 8.25% for a five-year FD.
- Highest senior-citizen rate
- 8.50% for a five-year FD.
- 30-month FD rate
- 8.10% for regular customers and 8.25% for senior citizens.
- 18-month FD rate
- 7.80% for regular customers and 7.95% for senior citizens.
- Five-year ₹10 lakh FD yields
- Annualised yields listed are 8.51% for regular customers and 8.77% for senior citizens.
- FD tenure range
- Seven days to 10 years.
- Deposit insurance
- DICGC insurance applies up to ₹5 lakh per depositor per bank, including principal and interest.
Sources
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