Senior Citizen Fixed Deposit interest rate hiked again! Earn 9.26% interest with this bank | The Financial Express

Senior Citizen Fixed Deposit interest rate hiked again. Earn 9.26% interest with this bank

Senior Citizen Fixed Deposit Interest Rate: SSFB is offering up to 9.26% interest on FD to senior citizens for a limited period. For regular depositors, SSFB is offering up to 9% interest on FD.

Senior Citizen Fixed Deposit interest rate hiked again. Earn 9.26% interest with this bank
Senior Citizen fixed deposit interest rate goes up to 9.26%. Representational image

Senior Citizen Fixed Deposit interest rates have been rising this year. The latest bank to announce an FD rate hike for senior citizens is Suryoday Small Finance Bank (SSFB).

With effect from December 6, SSFB is offering up to 9.26% interest on FD to senior citizens. For regular depositors, SSFB is offering up to 9% interest on FD.

SSFB has also launched a limited-period offer for a 5-year deposit, with 9.26% interest per annum to senior citizens. The bank said in a statement that this is a one-time promotion offer, which will be available for 15 days only, from December 6 to December 20, 2022.

“This is the highest interest rate that the bank offers to its customers and your deposits are backed by DICGC, making an investment decision soon will also address your mid-term goals of 5 years,” SSFB said.

Also Read: Senior Citizen Fixed Deposit interest rate jumps to 9%: Know how much return is guaranteed

SSFB FD Interest Rates for Senior Citizens and Other Depositors

  • 5-year FD: SSFB is offering 9.26% interest to senior citizens and 9.01% interest to other depositors on FDs of less than Rs 2 crore. The 5-year FD rate would be applicable only till December 20.
  • 5 to 10-year FD: SSFB is offering 6.5% interest to senior citizens and 6% interest to other depositors on FDs of less than Rs 2 crore.
  • 999 days FD: SSFB is offering 8.76% interest to senior citizens and 8.51% interest to other depositors on FDs of less than Rs 2 crore.
  • 1 year 6 months to 2 years FD: SSFB is offering 8.51% interest to senior citizens and 8% interest to other depositors on FDs of less than Rs 2 crore.
  • Above 2 years to 998 days: SSFB is offering 8.01% interest to senior citizens and 7.51% interest to other depositors on FDs of less than Rs 2 crore.
  • 32 months 27 days to 3 years FD: SSFB is offering 7.75% interest to senior citizens and 7.25% interest to other depositors on FDs of less than Rs 2 crore.

Several banks have increased FD rates recently. With RBI hiking the repo rate once again, FD rates offered by several banks are expected to go up further.

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First published on: 09-12-2022 at 10:24 IST