The article discusses the highest fixed deposit (FD) rates offered by small finance banks in India, which are often referred to as “small finance banks” or “NBFCs” (non-banking financial companies). These banks are allowed to operate as banks but are subject to fewer regulations than traditional commercial banks.
The article provides a list of small finance banks that are offering attractive FD rates, with some offering as high as 9% per annum. Here are some of the top players:
1. Jana Small Finance Bank: Offers 8.50% for deposits up to ₹1 lac and 9.00% for deposits above ₹1 lac.
2. Ujjivan Small Finance Bank: Offers 8.25% for deposits up to ₹1 lac and 8.75% for deposits above ₹1 lac.
3. Equitas Small Finance Bank: Offers 8.25% for deposits up to ₹1 lac and 8.75% for deposits above ₹1 lac.
4. Muthoot Homefin: Offers 8.20% for deposits up to ₹1 lac and 8.80% for deposits above ₹1 lac.
5. Bajaj Finance FD: Offers 8.15% for deposits up to ₹1 lac and 8.75% for deposits above ₹1 lac.
6. Fullerton India: Offers 8.10% for deposits up to ₹1 lac and 8.70% for deposits above ₹1 lac.
7. Arohan Finance: Offers 8.00% for deposits up to ₹1 lac and 8.60% for deposits above ₹1 lac.
8. Suryoday Small Finance Bank: Offers 7.95% for deposits up to ₹1 lac and 8.55% for deposits above ₹1 lac.
9. Aditya Birla Sun Life Savings Fund: Offers 7.90% for deposits up to ₹1 lac and 8.50% for deposits above ₹1 lac.
These rates are subject to change, and individuals are advised to check the banks’ websites or visit their branches for the latest rates and terms and conditions. The article concludes by emphasizing the importance of reviewing and comparing the interest rates offered by different banks before making a decision on which one to choose.
Overall, the article provides a comprehensive list of small finance banks offering attractive FD rates, which can help individuals make an informed decision about their savings and investment options.