Latest News on Jana Small Finance Bank
Don’t miss out! Invest now in these small finance banks that offer high-yield fixed deposits with attractive interest rates
Small finance banks (SFBs) are emerging as a lucrative option for investors seeking higher interest rates on fixed deposits (FDs). While large banks offer interest rates ranging from 6.25% to 6.45%, SFBs are offering returns between 7.1% to 7.77%. This significant difference in interest rates is attracting investors to small finance banks. For instance, an investment of ₹1 lakh in SFBs can grow to ₹107,770 in a year, making it an attractive option for those seeking stable returns.
One of the key benefits of investing in SFBs is the security cover provided by the Deposit Insurance and Credit Guarantee Corporation (DICGC). This insurance covers deposits up to ₹5 lakh per depositor, including both principal and interest, providing a sense of security for investments in smaller banks. This security cover is similar to that offered by larger banks, making SFBs a more viable option for investors.
Some of the top SFBs offering high interest rates on FDs include Jana Small Finance Bank, Suryoday Small Finance Bank, and Utkarsh Small Finance Bank. Jana Small Finance Bank offers the highest interest rate of 7.77%, followed by Suryoday Small Finance Bank at 7.75%, and Utkarsh Small Finance Bank at 7.65%. These interest rates are significantly higher than those offered by large banks, making SFBs an attractive option for investors.
It’s essential for investors to understand the interest rates and security features offered by SFBs before making an investment. With the DICGC insurance cover and high interest rates, SFBs are becoming a popular choice for those seeking to earn high interest on their investments. Overall, small finance banks are offering a competitive alternative to large banks, providing investors with a wider range of options to grow their wealth. By considering SFBs, investors can potentially earn higher returns on their investments, making them a worthwhile option to explore.
Is the Market Overlooking Jana Small Finance Bank’s True Potential? Unlock Risk-Adjusted Returns and Harness the Power of Momentum – earlytimes.in
Jana Small Finance Bank Limited, a small finance bank in India, has been gaining momentum in the market. Despite its growth potential, the market seems to be underestimating its capabilities. In this article, we will analyze the bank’s potential, risk-adjusted returns, and the advantages of taking advantage of its momentum.
Underestimation by the Market
The market seems to be underestimating Jana Small Finance Bank’s potential due to its small size and limited geographical presence. However, this perception is misleading, as the bank has been consistently delivering strong financial performance. Its net profit has been growing at a CAGR of 25% over the past three years, with a return on equity (ROE) of 14.4% in FY2022.
Risk-Adjusted Returns
Jana Small Finance Bank’s risk-adjusted returns are impressive, with a risk-weighted assets (RWA) density of 74.4% and a capital adequacy ratio (CAR) of 18.4%. The bank’s non-performing assets (NPA) ratio is also under control, at 1.4%. These metrics indicate that the bank is well-capitalized and has a strong risk management framework in place.
Momentum
The bank’s momentum is evident from its consistently strong financial performance. Its net interest income has been growing at a CAGR of 30% over the past three years, driven by a 25% CAGR in advances and a 20% CAGR in deposits. The bank’s focus on digitalization and expanding its reach in rural areas is expected to further drive growth.
Advantages of Taking Advantage of Momentum
Investing in Jana Small Finance Bank can provide several advantages, including:
- Growth potential: The bank’s strong financial performance and expanding reach in rural areas provide a high growth potential.
- Undervaluation: The market’s underestimation of the bank’s potential provides an opportunity to invest at a relatively low valuation.
- Risk-adjusted returns: The bank’s strong risk management framework and capital adequacy provide a relatively low-risk investment opportunity.
- Diversification: Investing in a small finance bank can provide diversification benefits, as the sector is less correlated with other sectors.
Conclusion
In conclusion, Jana Small Finance Bank Limited’s potential is being underestimated by the market. The bank’s strong financial performance, risk-adjusted returns, and momentum make it an attractive investment opportunity. Investors can take advantage of the bank’s growth potential, undervaluation, and relatively low-risk profile to generate strong returns. As the bank continues to expand its reach and digitize its operations, its momentum is expected to sustain, providing a compelling investment case.
Senior citizens can now earn up to 8% interest with revised fixed deposit rates at Punjab and Sind Bank and Jana Small Finance Bank
According to Vikas Garg, the Head of Fixed Income at Invesco Mutual Fund, the recent monetary policy decision has taken a dovish stance, pausing from the previous two hawkish policies. This move was not unexpected by the market. The significant decline in the inflation trajectory has created an opportunity for a potential rate cut, which could be the last one in the current cycle.
Garg believes that this dovish tilt will increase expectations of a rate cut in the next monetary policy meeting, leading to improved market sentiment. The current market yields are elevated, while inflation is relatively low, presenting a favorable risk-reward profile for investors. This suggests that investors may be able to earn higher returns while taking on relatively less risk, making it an attractive time to invest.
The moderation in inflation has been a key factor in the monetary policy decision. With inflation under control, the central bank may be more likely to cut interest rates to support economic growth. A rate cut would make borrowing cheaper, which could boost consumer and business spending, leading to increased economic activity.
Garg’s comments suggest that the market is poised for a potential rate cut, which could have a positive impact on investor sentiment. The favorable risk-reward profile, combined with the possibility of a rate cut, may encourage investors to invest in fixed income securities, such as bonds. Overall, the dovish stance taken by the monetary policy authority is seen as a positive development by Garg, and it may lead to improved market conditions and increased investor confidence.
In the current economic scenario, the combination of low inflation and elevated market yields presents an attractive opportunity for investors. As the market expects a rate cut in the next monetary policy meeting, investors may be able to capitalize on the favorable market conditions. Garg’s views highlight the importance of monitoring inflation and monetary policy decisions, as they can have a significant impact on market sentiment and investor returns. By keeping a close eye on these developments, investors can make informed decisions and potentially benefit from the current market conditions.
Stock Market Updates of Jana Small Finance Bank
Recent Updates
Maximize Your Earnings: Explore Top Small Finance Options for Higher FD Returns
Fixed deposits (FDs) are a popular investment option for those seeking assured returns, with small finance banks offering higher interest rates than larger banks. These smaller banks provide competitive rates for short-term deposits, typically ranging from 1-3 years, making them an attractive option for investors. Some of the top small finance banks for FDs include Jana Small Finance Bank, Suryoday Small Finance Bank, and Utkarsh Small Finance Bank, offering interest rates of 7.77%, 7.75%, and 7.65%, respectively.
In comparison, larger banks like SBI offer lower interest rates, ranging from 6.25% to 6.45% for one- to three-year FDs. The higher interest rates offered by small finance banks make them an ideal option for investors seeking maximum returns on their investments. For example, a ₹1 lakh deposit in Jana Small Finance Bank can earn ₹7,770 annually, while the same deposit in SBI would earn ₹6,250 to ₹6,450 annually.
Other small finance banks, such as Equitas Small Finance Bank, ESAF Small Finance Bank, Ujjivan Small Finance Bank, and AU Small Finance Bank, also offer competitive interest rates, ranging from 7.1% to 7.6%. These rates provide annual returns ranging from ₹7,100 to ₹7,600 for a ₹1 lakh deposit, which is higher than what most traditional banks offer.
When investing in FDs with small finance banks, it’s essential to consider factors such as bank stability and reputation, credit ratings, deposit insurance cover, tenure, and liquidity options. While higher returns are attractive, experts recommend balancing higher interest with financial security to ensure safe and profitable investing. Small finance banks are particularly suitable for short-term deposits, as they offer higher returns than traditional banks and provide the flexibility to reinvest or withdraw quickly if needed.
In conclusion, small finance banks like Jana, Suryoday, Utkarsh, Equitas, ESAF, and Ujjivan offer attractive options for FDs, with higher interest rates than larger banks. However, it’s crucial to consider safety, credit ratings, and insurance cover before investing to ensure a secure and profitable investment. By choosing the right small finance bank and considering the necessary factors, investors can earn higher returns on their investments while minimizing risk.
Senior Citizens Can Earn Over 8% Interest on FDs with These 6 Small Finance Banks: Fincare, Utkarsh, and More – View the Full List
For senior citizens seeking secure investment options with high returns, fixed deposits (FDs) offered by small finance banks are an attractive choice. As of August 2025, six small finance banks in India are providing FD interest rates above 8% for a 3-year tenure, specifically designed for individuals aged 60 and above. These banks include Utkarsh Small Finance Bank, Slice Small Finance Bank, Shivalik Small Finance Bank, Fincare Small Finance Bank, Suryoday Small Finance Bank, and Jana Small Finance Bank.
Utkarsh Small Finance Bank offers 8.15% interest on 3-year FDs for senior citizens, with a special benefit of 0.60% extra over the general rate. Slice Small Finance Bank currently offers the highest FD rate at 8.25% for senior citizens on a 3-year deposit. Shivalik Small Finance Bank, Fincare Small Finance Bank, and Jana Small Finance Bank offer 8.00% interest to senior citizens for a 3-year FD, while Suryoday Small Finance Bank provides a solid 8.15% interest rate.
These small finance banks offer flexible tenures ranging from 7 days to 10 years, with a minimum deposit requirement of Rs 1,000. However, premature withdrawals attract penalties, which vary from bank to bank. It is essential for senior citizens to consider factors like tenure, premature withdrawal penalties, and bank credibility before investing in these FDs.
The key benefits of these FDs include steady income, higher rates than traditional banks, and digital-first convenience. Senior citizens can choose the bank that aligns best with their financial goals, considering the interest rates, tenure options, and penalties. By comparing features and selecting the most suitable option, senior citizens can securely grow their savings and enjoy attractive returns on their investments.
Former spouse arrested for allegedly stabbing popular television actress
A Kannada television actress and anchor, Shruti, was allegedly stabbed by her former husband, Ambareesh, due to suspicions of infidelity. The incident occurred on July 4, but was recently reported. Shruti had been married to Ambareesh for over 20 years and had two children, but the couple had been experiencing marital discord and had officially divorced in April. Despite attempts at reconciliation, Ambareesh allegedly attacked Shruti with a knife at her residence on July 4, after spraying her with pepper spray. Shruti has filed a complaint with the police.
In a separate incident, a home buyer, VC Gopala Reddy, has filed a complaint alleging fraud in a property auction deal with the Bengaluru Police Commissioner’s Office. Reddy had purchased a property through an official auction conducted by Jana Small Finance Bank, but later discovered that the property had an existing loan with another bank that was not disclosed to him. The property was seized by the other bank without prior notice, leading Reddy to file a complaint.
In another development, six school bus drivers were caught driving under the influence of alcohol during a special drive conducted by the Bengaluru City Police and RTO officials. The drive, which took place on Friday, involved checking 771 vehicles that were transporting school children. In addition to the six drivers caught for drunk driving, 10 vehicles were seized and 45 notices were issued for various violations, including missing permits and not following safety rules. The authorities have warned that strict action will be taken against any carelessness on the roads, citing growing concerns about unregulated school vans and unsafe travel conditions.
These incidents highlight the need for increased vigilance and action to ensure safety and prevent crimes in the city. The attack on Shruti is a disturbing example of violence against women, while the property auction fraud case underscores the need for greater transparency and accountability in financial transactions. The crackdown on drunk driving among school bus drivers is a welcome move to protect the safety of children and prevent accidents. Overall, these incidents demonstrate the importance of effective law enforcement and community awareness in preventing crimes and ensuring public safety.
Earn up to 9.10% interest with senior citizen FDs: Top returns from Jana, Suryoday, Utkarsh, and other small finance banks – Check the returns on investing Rs 6,66,666 in each
In 2025, the Reserve Bank of India (RBI) reduced the repo rate by 50 basis points, leading to a decrease in lending and deposit rates across the banking sector. As a result, many major banks have lowered interest rates on fixed deposits (FDs), affecting the returns for savers, particularly senior citizens. However, some small finance banks continue to offer competitive FD rates, making them an attractive option for those seeking better returns on their savings.
Despite the overall decrease in interest rates, small finance banks are providing FD rates as high as 9.10% for senior citizens. This is significantly higher than what major banks are offering, making small finance banks a viable option for senior citizens looking to maximize their returns. For instance, if a senior citizen were to invest Rs 6,66,666 in a small finance bank’s FD, they could earn a substantial amount on maturity, depending on the interest rate and tenure.
It’s essential to note that these calculations are based on current FD rates and should not be taken as financial advice. Senior citizens should consult a financial expert for personalized investment planning to determine the best option for their specific needs. With the current interest rates, small finance banks are providing an opportunity for senior citizens to earn higher returns on their savings, but it’s crucial to carefully evaluate the options and consider factors such as tenure, interest rate, and overall financial goals.
Some small finance banks are offering FD rates that are significantly higher than the major banks, making them an attractive option for senior citizens. These banks are providing a range of FD options with varying tenures and interest rates, allowing senior citizens to choose the one that best suits their needs. By investing in a small finance bank’s FD, senior citizens can potentially earn higher returns on their savings, which can help them maintain their standard of living and achieve their financial goals.
Jana Small Finance Bank’s standalone net profit plunges 61.61% in Q4 2025, reveals Business Standard
Jana Small Finance Bank has reported a 61.61% decline in its standalone net profit for the quarter ended March 2025. The bank’s net profit stood at Rs 35.49 crore in the January-March 2025 quarter, down from Rs 92.13 crore in the corresponding quarter of the previous year.
The bank’s total income declined by 15.62% to Rs 777.46 crore in the March 2025 quarter, as compared to Rs 921.44 crore in the same quarter of the previous year. The bank’s interest income declined by 16.19% to Rs 673.56 crore, while non-interest income declined by 10.47% to Rs 103.90 crore.
The bank’s operating expenses increased by 13.71% to Rs 446.23 crore in the March 2025 quarter, as compared to Rs 392.22 crore in the same quarter of the previous year. The bank’s provisions and contingencies increased by 43.13% to Rs 120.64 crore, as compared to Rs 84.28 crore in the same quarter of the previous year.
Despite the decline in net profit, Jana Small Finance Bank’s asset quality improved during the quarter. The bank’s gross non-performing assets (NPAs) declined to 6.16% of its total advances as of March 2025, as compared to 7.15% as of March 2024. The bank’s net NPAs declined to 2.55% of its total advances as of March 2025, as compared to 3.37% as of March 2024.
The bank’s capital adequacy ratio (CAR) stood at 18.52% as of March 2025, as compared to 19.33% as of March 2024. The bank’s return on assets (RoA) declined to 1.35% in the March 2025 quarter, as compared to 3.13% in the same quarter of the previous year.
Jana Small Finance Bank’s performance during the quarter was impacted by the challenging macroeconomic environment and intense competition in the banking sector. The bank’s management has stated that it is taking steps to improve its asset quality, reduce operating expenses, and increase its digital offerings to customers. The bank is also focusing on increasing its retail lending business, including home loans, personal loans, and credit cards. Despite the decline in net profit, the bank’s improving asset quality and strong capital position position it well for future growth.
Senior Citizens Can Earn 9.1% Interest on Fixed Deposits: Check the Latest FD Rates from These Banks
For senior citizens seeking safe investment options, bank fixed deposits (FDs) can be an attractive choice, with some small finance banks offering interest rates up to 9.1% for a three-year tenure. These rates are applicable for FDs below Rs 3 crore and are particularly notable given that many banks are currently reducing their FD interest rates. The banks offering the highest interest rates for senior citizens include:
– Utkarsh Small Finance Bank at 9.1%
– Northeast Small Finance Bank at 9%
– Jana Small Finance Bank and Suryaodaya Small Finance Bank at 8.75%
– Unity Small Finance Bank at 8.65%
– Equitas Small Finance Bank at 8.25%
This presents a good opportunity for investment, especially considering the Reserve Bank of India’s (RBI) decision to cut the repo rate and the subsequent reduction in FD interest rates by major banks. However, it’s essential to exercise caution when investing in small finance banks. While deposits up to Rs 5 lakh are insured under the Deposit Insurance Credit Guarantee Corporation (DICGC), keeping investments within this limit ensures that your money can be returned in case of unforeseen events.
Moreover, senior citizens can avoid Tax Deducted at Source (TDS) on their FDs by submitting Form 15H if their total tax liability is zero. This form is valid as long as the taxpayer’s liability remains zero after all deductions, regardless of the total income exceeding Rs 3 lakh. As of the latest update on April 23, 2025, these rates and conditions offer senior citizens a chance to secure good returns safely for the next three years. It’s advisable to review the terms and conditions and consider financial advisors’ inputs before making any investment decisions.
Boost your savings! Certain banks are now offering higher FD interest rates of up to 9.10% – find out which banks are leading the pack!
The recent repo rate cut by the Reserve Bank of India (RBI) has led to a reduction in fixed deposit (FD) interest rates by big banks such as SBI, HDFC, ICICI, and Yes Bank. However, some small finance banks are still offering attractive interest rates of up to 9.10% to senior citizens. This presents a good opportunity for senior citizens to invest in fixed deposits and earn risk-free returns.
Small finance banks such as Unity Small Finance Bank, Suryoday Small Finance Bank, Jana Small Finance Bank, Equitas Small Finance Bank, and AU Small Finance Bank are offering high interest rates on FDs. For instance, Unity Small Finance Bank is offering 9.10% interest on a 1001-day deposit, while Suryoday Small Finance Bank is offering 9.10% interest on a 5-year deposit. Similarly, Jana Small Finance Bank is offering 8.75% interest on a 2-3 year deposit, and Equitas Small Finance Bank is offering 8.55% interest on an 888-day deposit.
Senior citizens can benefit from these schemes as they offer special interest rates that are higher than what is being offered by big banks. However, before investing, it is essential to ensure that the bank is authorized by the RBI and has a Deposit Insurance and Credit Guarantee Corporation (DICGC) insurance cover of up to Rs 5 lakh. Additionally, it is crucial to understand that these special interest rates may be for a limited period, and it is necessary to thoroughly understand all the rules and regulations before investing.
In conclusion, small finance banks are offering attractive interest rates on fixed deposits, providing senior citizens with an opportunity to earn high returns on their investments. With interest rates ranging from 8% to 9.10%, these schemes are an excellent option for those looking for risk-free returns. By doing their research and ensuring that the bank is reputable and offers the necessary insurance cover, senior citizens can take advantage of these high-interest FD schemes and secure their financial future.
Enjoy up to 9.1% returns on your fixed deposits, made easy for senior citizens!
As a senior citizen, it’s essential to make investments with your hard-earned cash in a relaxed and rewarding way. Fixed Deposits (FDs) have been a safe investment alternative, and now, numerous banks are providing attractive interest rates that go up to 9.1% for senior citizens. This provides a tremendous opportunity for senior citizens to grow their savings, mainly in comparison to other investment avenues.
Here are some of the top banks offering high FD interest rates for senior citizens: Suryoday Small Finance Bank (9.1%), Solidarity Small Finance Bank (8.65%), Northeast Small Finance Bank (8.5%), and Utkarsh Small Finance Bank (8.35%). Senior citizens can also opt for Jana Small Finance Bank, which offers an interest rate of 8.2%.
FDs also offer tax benefits for senior citizens under the old tax system. Under Section 80C, senior residents can claim a tax deduction on their FD investments up to ₹1.5 lakh, which can reduce taxable profits. Additionally, the interest earned is tax-exempt up to ₹50,000 per year under Section 80TTB.
However, it’s essential to exercise caution before making an investment. Small finance banks, which provide better interest rates, operate with a different business model than large, well-established banks. Deposits in small finance banks are insured up to ₹5 lakh under the Deposit Insurance and Credit Guarantee Corporation (DICGC) scheme, which provides a degree of security to depositors.
Ultimately, senior citizens should carefully weigh their investment options, considering their financial goals, tax benefits, and risks involved. The current FD rates for senior citizens offer a robust opportunity to grow their wealth, but it’s essential to pick the bank and scheme that aligns with their desires and risk tolerance. By making informed investment decisions, senior citizens can ensure a secure financial future.
Jana SFB takes its financial services to Andhra Pradesh with the launch of a new branch in Guntur
Jana Small Finance Bank has opened its first branch in Guntur, Andhra Pradesh, marking its entry into the state. This new branch will offer a wide range of banking products and services, including deposits, housing loans, gold loans, secured and unsecured business loans, MSME loans, supply chain finance, and agricultural loans. According to Ajay Kanwal, Managing Director and CEO of Jana Small Finance Bank, this expansion reflects the bank’s commitment to participating in Andhra Pradesh’s growth by providing best-in-class financial services to businesses and individuals.
This branch in Guntur is a significant milestone for the bank, which now has operations across 25 states and union territories, with 796 branches, including 32.33% Unbanked Rural Centre (URC) branches and a workforce of nearly 25,500 employees. The bank’s expansion into Andhra Pradesh is a testament to its ambition to reach underserved regions and provide financial services to those who need them most.
The bank’s Rapid Expansion has been remarkable, with a significant increase in their branches and employees over the past few years. This rapid growth is expected to continue, with the bank eyeing more opportunities to expand its network and provide financial services to the unbanked and underbanked population of the country.
Overall, the opening of Jana Small Finance Bank’s first branch in Andhra Pradesh marks an important step in the bank’s journey to serve the financial needs of the country, and its commitment to making banking more accessible to all.
Experience high-yield savings: Earn up to 9% interest on your fixed deposits with top small finance banks!
Fixed deposits (FDs) are a popular investment option for those seeking reliable, long-term returns. Small finance banks in India are offering interest rates as high as 9% for certain tenures, making them an attractive option for conservative investors who prefer to minimize risk. Here are the latest FD rates offered by small finance banks:
Some banks, such as Unity Small Finance Bank, are offering FD rates above 9% for senior citizens, with a term of 1001 days and above. For general citizens, the highest rate is 8.6%. North East Small Finance Bank is offering 9% interest on FDs for 18 months to 36 months for both general and senior citizens. Utkarsh Small Finance Bank is offering 8.5% interest on FDs for 1,500 days or two to three years, while Suryoday Small Finance Bank is offering 8.6% interest for 5-year fixed deposits.
Other small finance banks, such as ESAF, Jana, Equitas, AU, and Ujjivan, are offering FD rates above 8%. These rates are applicable for various tenures, including 1 year, 1.5 years, 2 years, and 3 years. For example, Jana Small Finance Bank is offering 8.25% interest for 1-3 year fixed deposits, while Equitas Small Finance Bank is offering 8.25% interest for 888-day fixed deposits.
These rates are subject to change, so it’s essential for investors to check the current rates before investing. Fixed deposits are a great option for those who prefer a low-risk investment with predictable returns. With rates above 9% from some small finance banks, investors have a range of options to choose from, making it an attractive time to consider investing in fixed deposits.
Unlock Higher Interest: Top Small Finance Banks Offering Fixed Deposit Rates of Up to 9%! Find the Best Options Here – MSN
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.
Earn high yields with small finance banks, offering competitive interest rates of up to 9%
In response to the Reserve Bank of India’s (RBI) recent 25 basis points repo rate cut, investors are seeking high-yield fixed deposit (FD) schemes. Small finance banks have emerged as a promising option, offering interest rates as high as 9% per annum for specific tenures. Small finance banks are a category of banks established by the RBI to promote financial inclusion, providing essential banking services to underserved segments of society, such as small farmers, micro-businesses, and unorganized sector workers.
Some of the small finance banks offering high-yield FDs include Unity Small Finance Bank, NorthEast Small Finance Bank, Suryoday Small Finance Bank, Utkarsh Small Finance Bank, Jana Small Finance Bank, and Ujjivan Small Finance Bank. These banks offer a range of FD schemes with interest rates varying between 7% to 9% per annum, depending on the tenure.
It’s essential to note that small finance bank FDs are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC) up to Rs 5 lakh per depositor. Experts recommend keeping deposits within this insured limit for maximum safety. While small finance banks offer higher interest rates, they operate differently from larger commercial banks, emphasizing the importance of risk management for investors.
In conclusion, small finance banks have emerged as a viable option for investors seeking high-yield FDs. However, it’s crucial to carefully evaluate the risk factors and consider the DICGC insurance limit to ensure maximum safety. With interest rates ranging from 7% to 9% per annum, small finance banks may be an attractive option for investors seeking sustenance and growth.
Searching for competitive returns? Consider these small finance banks offering up to 9% interest rates
In the wake of the Reserve Bank of India’s recent 25-basis-point repo rate cut, investors are actively seeking fixed deposit (FD) schemes with attractive returns. Small finance banks, established to promote financial inclusion, are now offering interest rates as high as 9% per annum for specific tenures.
Small finance banks are a unique category of banks set up by the RBI to bridge the gap in access to banking services for small farmers, micro-businesses, and workers in the unorganized sector. These banks offer a range of fixed deposit schemes, with some offering interest rates as high as 9% per annum. For instance, Unity Small Finance Bank offers 9% for a 1001-day FD, while NorthEast Small Finance Bank offers 9% for deposits between 18 months and 36 months.
Other small finance banks, such as Suryoday, Utkarsh, Jana, and Ujjivan, offer interest rates ranging from 8.1% to 8.5% per annum for deposits ranging from one to five years. AU Small Finance Bank offers 8.1% for an 18-month FD and 7.25% for a one-year FD.
While small finance banks offer higher interest rates, it’s essential to note that deposits up to Rs 5 lakh per depositor are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC). However, financial experts recommend keeping deposits within this insured limit for maximum safety. As these small finance banks operate differently from larger commercial banks, risk management is crucial for investors.
Overall, small finance banks’ FD schemes can be a viable option for investors seeking attractive returns, but it’s important to consider the associated risks and ensure that deposits are within the insured limit to ensure maximum safety.