Suryoday Small Finance Bank teams up with Tata Digital to offer interest rates of up to 9.1% on fixed deposits, no savings account required.

Suryoday Small Finance Bank (SSFB) has partnered with Tata Digital to offer its fixed deposit (FD) scheme on the Tata Neu platform. Customers can invest in FDs with interest rates up to 9.1% without a savings account, with a minimum investment of Rs. 1,000. The onboarding process takes only a few minutes. SSFB’s FD rates range from 4% to 8.60% for general citizens and 4.50% to 9.10% for senior citizens for tenures ranging from 7 days to 10 years. The bank’s FD rates are competitive with other banks and NBFCs. Small Finance Banks (SFBs) are regulated by the Reserve Bank of India (RBI) and are subject to the same banking norms as other banks. Therefore, SFBs are considered as safe as any other type of bank. The RBI regulates SFBs to ensure their operations are sound and stable, making them a reliable option for customers.