Here’s A Comparison Of Interest Rates Offered By Small Finance Banks On Fixed Deposits

Here's A Comparison Of Interest Rates Offered By Small Finance Banks On Fixed Deposits

Fixed deposit (FDs) are secure financial instruments offered by private and public sector banks, small finance banks (SFBs), non-banking financial companies (NBFCs) and post offices. Small finance banks focus on financial inclusion by provision of savings instruments, supply of credit to small businesses, small farmers, micro and small industries and other unorganised sector entities. While the products of small finance banks are similar to those provided by commercial banks, the interest rates paid by small finance banks are higher compared to public sector lender State Bank of India, and its private sector peers HDFC Bank and ICICI Bank, among others.

Here’s a comparison of fixed deposit (FD) interest rates offered by small finance banks:

Capital Small Finance Bank

The following FD interest rates effective from April 29, 2019 according to the bank’s website:

Period General public (% p.a.) Senior citizens (% p.a.)
15 Days to 30 Days 5.40% 5.90%
31 Days to 45 Days 5.75% 6.25%
46 Days to 89 Days 6.25% 6.75%
90 Days to 179 Days 6.65% 7.15%
180 Days to less than 1 Year 7.00% 7.50%
1 Year to less than 5 Years 7.65% 8.15%
5 Years and upto 10 Years 7.50% 8.00%
Special Category    
400 Days 7.85% 8.35%
900 Days 7.70% 8.20%
(Source: capitalbank.co.in)

ESAF Small Finance Bank

The following FD interest rates are applicable on deposits below Rs. 1 crore, with according to the bank’s website:

Period Interest rates (with effect from March 1, 2019)
General public (% p.a.) Senior citizens (% p.a.)
7 – 14 days 5.50% 6.00%
15 – 59 days 5.50% 6.00%
60 – 90 days 6.25% 6.75%
91 – 179 days 6.75% 7.25%
180 – 363 days 7.50% 8.00%
364 days 5.60% 6.10%
365 – 727 days 8.75% 9.25%
728 days 6.80% 7.30%
729 – 1091 days 8.00% 8.50%
1092 days 5.66% 6.16%
1093 – 1819 days 7.30% 7.80%
1820 days 5.65% 6.15%
1821 – 3652 days 7.30% 7.80%
(Source: esafbank.com)

Jana Small Finance Bank

The following FD interest rates are applicable on deposits, according to the bank’s website:

Period General public (% p.a.) (with effect from December 14, 2018 ) Senior citizens (% p.a.) (with effect from January 30, 2019)
7-45 days 6.00% 6.60%
46-60 days 6.50% 7.10%
61-180 days 7.00% 7.60%
181-365 days 8.50% 9.10%
> 1 year- 2 years 8.50% 9.10%
> 2 years – < 3 years 8.50% 9.10%
= 3 years 9.00% 9.60%
> 3 years- 5 years 8.50% 9.10%
> 5 years- 10 years 7.00% 7.60%
(Source: janabank.com)

Ujjivan Small Finance Bank

COMMENT

The following FD interest rates are applicable on deposits up to Rs. 2 crore according to the bank’s website:

Period General public (% p.a.) (with effect from February 27, 2019)
7 Days to 29 Days 5.50%
30 Days to 89 Days 6.25%
90 Days to 179 Days 6.75%
180 Days to 364 Days 7.50%
1 Year to 2 Years 8.30%
2 Years and 1 Day to 734 Days 7.50%
735 Days 8.25%
736 Days to 798 Days 7.50%
799 Days 8.60%
800 Days to 3 Years 7.50%
3 Years and 1 Day to 5 Years 7.00%
5 Years and 1 Day to 10 Years 6.50%
Additional Interest Rate for Senior Citizens 0.50%
(Source: ujjivansfb.in)

Ujjivan small finance bank offers an additional interest rate of 0.50 per cent for senior citizens. 

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