Investors dream of getting strong returns on their money. Those who do not take risk invest money in fixed deposits and those who have the ability to take risk turn to the stock market.
Fixed deposits are considered a traditional and safe mode of investment. If you are also thinking of earning great returns through FD, then there is a great opportunity for you. In fact, recently Suryoday Small Finance Bank has increased the interest rates on FDs. This bank is giving tremendous interest of up to 9.6% on FD.
Suryoday Small Finance Bank has increased the interest paid on FDs of less than 2 crores for 1-5 years from 49 to 160 basis points. Now the general customers of the bank are getting the benefit of interest rate ranging from 4 per cent to 9.10 per cent while for senior citizens this interest rate ranges from 4.50 per cent to 9.60 per cent.
Suryoday Small Finance Bank FD Rates
The bank is paying interest at the rate of 6.85 percent on FD of 1 year. 8.50 percent interest is being received on FDs of 1 to 2 years. The interest rate on FD of 999 days is 9 per cent while the interest on FD of 5 years duration is 9.10 per cent. For tenors of 32 months, 27 days to 3 years and 5 years to 10 years, the interest rate increases to 7.25 per cent.
One lakh in 5 years for senior citizens, it will become 1.60 lakh
If a senior citizen gets an FD of Rs 1 lakh in Suryoday Small Finance Bank for 5 years, then he will get Rs 1,60,694 at the rate of 9.6% return on maturity.
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