Different banks offer a range of interest rates for fixed deposits. While it remains similar for general customers, some provide special provisions for senior citizens on select maturities.
Many banks offer interest rates in the range of 7 per cent to 7.5 per cent on fixed deposits. Lenders like the State Bank of India, Axis Bank, HDFC Bank and others provide such rates for a period ranging from seven days to ten years.
Small financial banks sometimes offer more than 7.5 per cent interest rates on fixed deposits to their general customers and it may get as high as 8 per cent for senior citizen account holders on select maturities.
Many banks had to reduce the interest rate in the backdrop of the coronavirus pandemic. Some even provided up to 9 per cent interest rates on fixed deposits earlier.
Latest Fixed Deposit interest rates at Utkarsh Small Finance Bank
Depending on when it is maturing, the Utkarsh Small Finance Bank provides 3 per cent to 7 per cent interest rates on fixed deposits to general customers on a period ranging from seven days to 10 years. For senior citizens, the interest rate is between 3.5 per cent and 7.5 per cent.
The maximum interest rate is on deposits with a maturity period of 700 days. These interest rates are applicable for deposits with effect from October 19.
Latest Fixed Deposit interest rates at Jana Small Finance Bank
For general customers, the Jana Small Finance Bank offers 2.5 per cent to 7.25 per cent interest rates on fixed deposits for a period ranging from seven days to 10 years. For the senior citizens, it adds 50 basis points on these deposits.
This bank gives the best rate of interest on deposits maturing between three and five years. It stands at 7.25 per cent for general customers and 7.75 per cent for senior citizens. These rates have been in effect from December 22.
