INSUBCONTINENT EXCLUSIVE:
Fixed deposit (FD) interest rates of small finance banks are higher than those offered by post offices.Fixed deposits or FDs, which offer
higher interest rates than savings bank accounts, are not only offered by leading banks like State Bank of India (SBI) but also by small
finance banks and post offices across the country
FD interest rates of small finance banks like Equitas Small Finance Bank, Utkarsh Small Finance Bank and Jana Small Finance Bank are much
higher than those of SBI, HDFC Bank, and ICICI Bank
Even if you compare FD interest rates of small finance banks with those offered by post offices, you will be surprised that these banks
offer better interest rates.(: India Post Payments Bank Zero Balance Accounts - 10 Things To Know)Why are fixed deposit interest rates of
small finance banks higher than peers"Small finance banks serve a niche area and in order to grow their scale, the most important segment
for them is their FD customers, unlike the banking behemoths for whom the current account customers and corporate customers are relatively
Small finance banks do offer higher rates because at this point they are aggressively trying to scale up their deposit franchise," said
Rahul Agarwal, Director Wealth Discovery/EZ Wealth.Given below are fixed deposit interest rates of Equitas Small Finance Bank, Utkarsh Small
Finance Bank, Jana Small Finance Bank and post offices:Fixed deposit (FD) interest rates of Equitas Small Finance BankFixed deposit Interest
rates for Domestic/NRE/NRO (for INR) with effect from July 5, 2018TenureInterest rate for amount less than Rs
days6.50%181 - 210 days6.75%211- 270 days6.75%271- 364 days7.50%1 year to 18 months8.00%18 months 1 day to 2 years7.75%2 years 1 day to 3
will be extra, according to equitasbank.com.Fixed deposit (FD) interest rates of Utkarsh Small Finance Bank, according to utkarsh.bank:
TenureRate of Interest (% p.a.)-W.E.F
Days4.50%5.00%91 Days to 120 Days5.00%5.50%121 Days to 179 Days5.50%6.00%180 Days to 210 Days6.00%6.50%211 Days to 270 Days7.00%7.50%271
Days to Less than 1 Year7.50%8.00%1 Year to 455 Days8.25%8.75%456 Days to Less than 2 Years8.50%9.00%2 Years to Less than 3 Years7.85%8.35%3
Finance Bank, according to janabank.com:PeriodInterest Rate7 days and up to 45 days7%46 days -180 days7%181 days to less than 1 year8%1 year
Between 4%-8.3%)You can go into any post office and open a fixed deposit account via cash/ cheque
You can transfer this account to any post office and can open any number of accounts, according to indiapost.gov.in, the website of India
