These 2 Private Banks Offers More Than 9% Rate Of Interest On Sr. Citizens FD, Check Details

Post the Repo Rate hike by the Reserve Bank of India (RBI) to 6.5% in February 2023, banks across India are following the interest rate hike. In a recent Interest Rate hike, two leading Small Finance Banks (SFBs) namely Utkarsh Small Finance Bank and Unity Small Finance Bank are offering more than 9% interest rates on select FD tenure. Utkarsh SFB has recently hiked the interest rates on fixed deposits (FD) of less than Rs 2 Crore. The revised rates are effective from February 27, 2023, according to the Banks official website. The revised rates are applicable to the general public and senior citizens.The bank currently offers interest rates ranging from 4.00% and 8.25%, for the general public, while for senior citizens, the interest rates range from 4.75% to 9%. The deposit period ranges from 7 days to 10 years for the above-mentioned interest rates. A maximum interest rate of 8.25% for the general public and 9.00% for senior people will now apply to deposits at Utkarsh Small Finance Bank that mature in 700 days.Advertisement TenureGeneral FD Rates % p.a.Sr. Citizens FD Rates % p.a.7 Days to 45 Days4.00%4.75%46 Days to 90 Days4.75%5.50%91 Days to 180 Days5.50%6.25%181 Days to 364 Days6.50%7.25%365 Days to 699 Days7.75%8.50%700 Days8.25%9.00%701 Days upto 5 Years7.50%8.25%Above 5 Years to 10 Years7.00%7.75%Source - www.utkarsh.bank Unity SFB has also followed the rate hike trend post-Repo Rate hike. The bank has hiked the interest rates on FD below Rs 2 Cr. for the General Public and Senior Citizens. According to the Banks official website, the new rates are effective from February 15, 2023.According to the recent hike, the bank offers interest rates ranging from 4.50% to 9% for the general public and 4.50% to 9,50% for senior citizens. The FD period for the above interest rates starts from 7 days to 10 years on the amount below Rs 2 Cr.The bank offers the highest 8.75% to the general public and 9.25% to senior citizens for a maturity period of 181-201 days. The bank offers 8.75% to the general public and 9.25% to senior citizens for the special FD tenure of 501 days. The bank offers the highest interest rates on 1001 days special tenure, 9% to the general public and 9.50% to senior citizens. TenureGeneral FD Rates % p.a.Sr. Citizens FD Rates % p.a.7-14 Days4.50%4.50%15-45 Days4.75%4.75%46-60 Days5.25%5.75%61-90 Days5.50%6.00%91-164 Days5.75%6.25%165-180 Days5.75%6.25%181-201 Days8.75%9.25%202-364 Days6.75%7.25%365 Days7.35%7.85%1Year 1 day7.35%7.85%>1Year 1 day - 500 days7.35%7.85%501 Days8.75%9.25%502 Days - 18 M7.35%7.85%>18 M -1000 Days7.40%7.90%1001 Days9.00%9.50%1002 Days -3 Year7.65%8.15%>3 Year - 5 Year7.65%8.15%>5 Year - 10 Year7.00%7.50%Source -www.theunitybank.com