SMALL FINANCE BANKS FD RATES
COMPARITIVE FIXED DEPOSIT INTEREST RATES
offered by Indian BanksÂ
Editor's Note dated 20.11.2020 : Small Finance Banks  are new breed of banks permitted by Reserve Bank of India  in 2015 and it has given licence to open ten of such banks . They are primarily to finance small business and SME sector . They are also permitted to collect deposits  .Â
We find that the  interest rates offered by such Small Finance Banks are generally higher than that of other public sector banks or in the same range as of other banks , private sector banks  and post office deposits .  .  The attractive rates  offered by them  sometimes makes investors apprehensive about the safety of deposits in them . Silver-lining is that the Deposits up to Rs 5.00 lakhs placed with them comes under DICGC cover for bank deposits . Â
To know complete details about Small Finance Banks , CLICK HEREÂ
We find that the  interest rates offered by such Small Finance Banks are generally higher than that of other public sector banks or in the same range as of other banks , private sector banks  and post office deposits .  .  The attractive rates  offered by them  sometimes makes investors apprehensive about the safety of deposits in them . Silver-lining is that the Deposits up to Rs 5.00 lakhs placed with them comes under DICGC cover for bank deposits . Â
To know complete details about Small Finance Banks , CLICK HEREÂ
PLAN N PROGRESS compares  interest rates of various banks .Â
 1. We  have selected  periods of 1 year and 5 years   for comparison of interest rates offered by Indian commercial banks including  Public Sector banks , Private Sector Banks and Foreign banks with a network of branches and also Small Finance banks , new breed of banks in India . Below tables give information on interest rates offered by various banks .Â
2 . The interest rates are on retail term deposits for public and senior citizens .Â
3. Normally interest  rates quoted are valid for an amount of less than Rs 2 crore .Â
4. For actual terms and conditions and the latest rates , you may visit the websites of the banks listed at the end alphabetically .Â
5. The rates taken by us are  updated on or about 24th, January  , 2024  and are subject to change . Â
2 . The interest rates are on retail term deposits for public and senior citizens .Â
3. Normally interest  rates quoted are valid for an amount of less than Rs 2 crore .Â
4. For actual terms and conditions and the latest rates , you may visit the websites of the banks listed at the end alphabetically .Â
5. The rates taken by us are  updated on or about 24th, January  , 2024  and are subject to change . Â
Which bank provides maximum interest on FD?
UNITY SMALL FINANCE BANKÂ PAYS HIGHEST INTEREST RATE :Â
Dated 08.05.2023 :  : Reserve Bank of India (RBI) had issued a small finance bank (SFB) licence to  Unity Small finance Bank  in June 2021 . It is  floated by  the Centrum Group-BharatPe consortium. The new bank had taken over the assets and liabilities of the beleaguered PMC Bank which was  put under section 35a OF RBI Act restricting its operations  . .Â
​Now the bank is paying highest interest rate of 9.5 % pa to the senior citizens  for retail deposits of 1001 days . ( 9 % for the general public ) .Â
For the deposit rates for other period you may visit the website of  UNITY SMALL FINANCE BANKÂ
Dated 08.05.2023 :  : Reserve Bank of India (RBI) had issued a small finance bank (SFB) licence to  Unity Small finance Bank  in June 2021 . It is  floated by  the Centrum Group-BharatPe consortium. The new bank had taken over the assets and liabilities of the beleaguered PMC Bank which was  put under section 35a OF RBI Act restricting its operations  . .Â
​Now the bank is paying highest interest rate of 9.5 % pa to the senior citizens  for retail deposits of 1001 days . ( 9 % for the general public ) .Â
For the deposit rates for other period you may visit the website of  UNITY SMALL FINANCE BANKÂ
​
FOR ONE YEAR DEPOSITSÂ
 A. The public sector banks are offering interest rates between 6.10 %  % to 6.80 % for public ( 6.60 % to 7.40 % to Senior Citizens )  . Â
​B.  The private sector banks are offering interest rates between 5.00 % to 7.50 %  %  for public and between 5.50 % to 8.25 %   for senior citizens . Â
C.      The  Small Finance banks are paying interest now in the range of 6.00 % to 8.50 %  for public and  6.50  % to 9.00 % for the senior  citizensÂ
Â
FOR 5 YEAR DEPOSITSÂ
​A.  Public sector banks pay between 6.00 % to 6.70  % ( 6.50 % to 7.50 % for senior citizens ) ​​
B. Private sector banks pay between 5.75 % to 7.25 % ( 6.25 % to 8.00 % for senior citizens )  .Â
​​
 C. Small finance banks pay  between 6.25 % to 8.25  % for public ( 6.75 % to 8.75  % for senior citizens ).​
There are NBFC companies , co-operative societies and corporates who pay higher interest rates , but have higher risk weight-ages .Â
​
SPECIAL DEPOSITSÂ FOR SENIOR CITIZENS AND GENERAL PUBLIC
Some banks have introduced special deposit schemes for senior citizens and general public  for special number of days with special interest rates . Some also are offering additional interest rates for deposits of period above 5 years for the senior citizens .Â
​
NOTE :Â
1.   Depositors   get DICGC cover  of Rs 5.00 lakhs on Bank Deposits as insurance .Â
​​​​​​​​
FOR ONE YEAR DEPOSITSÂ
 A. The public sector banks are offering interest rates between 6.10 %  % to 6.80 % for public ( 6.60 % to 7.40 % to Senior Citizens )  . Â
​B.  The private sector banks are offering interest rates between 5.00 % to 7.50 %  %  for public and between 5.50 % to 8.25 %   for senior citizens . Â
C.      The  Small Finance banks are paying interest now in the range of 6.00 % to 8.50 %  for public and  6.50  % to 9.00 % for the senior  citizensÂ
Â
FOR 5 YEAR DEPOSITSÂ
​A.  Public sector banks pay between 6.00 % to 6.70  % ( 6.50 % to 7.50 % for senior citizens ) ​​
B. Private sector banks pay between 5.75 % to 7.25 % ( 6.25 % to 8.00 % for senior citizens )  .Â
​​
 C. Small finance banks pay  between 6.25 % to 8.25  % for public ( 6.75 % to 8.75  % for senior citizens ).​
There are NBFC companies , co-operative societies and corporates who pay higher interest rates , but have higher risk weight-ages .Â
​
SPECIAL DEPOSITSÂ FOR SENIOR CITIZENS AND GENERAL PUBLIC
Some banks have introduced special deposit schemes for senior citizens and general public  for special number of days with special interest rates . Some also are offering additional interest rates for deposits of period above 5 years for the senior citizens .Â
​
NOTE :Â
1.   Depositors   get DICGC cover  of Rs 5.00 lakhs on Bank Deposits as insurance .Â
​​​​​​​​
SMALL FINANCE BANKS INTEREST RATES
INTEREST RATES FOR 1 YEAR AND INTEREST RATES FOR 5 YEARS
Interest Rates for 1 year for General public and Senior Citizens :   RATES GETTING UPDATEDÂ
1.  CAPITAL SMALL FINANCE BANK             7.15% (  7.65 % for the Senior Citizens )
2. SURYODAY SMALL FINANCE BANK            6.85 % (  7.35 % for the Senior Citizens )
​3.​ UJJIVAN SMALL FINANCE BANK               8.25 % (  8.75 % for the Senior Citizens )
4. UTKARSH SMALL FINANCE BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â 8.00 % (Â Â 8.60 %Â for the Senior Citizens )
5. ​NORTH EAST SMALL FINANCE BANK          7.00 % (  7.75 % for the Senior Citizens )
6 . ESAF SMALL FINANCE BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.00 % (Â Â 6.50 %Â for the Senior Citizens )
7. JANA SMALL FINANCE BANK                8.50 % (  9.00 % for the Senior Citizens )
​8. AU SMALL FINANCE BANKS                 6.75 % (  7.25 % for the Senior Citizens )
9. FINCARE SMALL FINANCE BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â 7.00 % (Â Â 7.60 %Â for the Senior Citizens )
​10. EQUITAS SMALL FINANCE BANK           8.20 % (   8.70 % for the Senior Citizens )
​11. SHIVALIK SMALL FINANCE BANK          8.10 % (  8.60 % for the Senior Citizens ) Â
12. UNITY SMALL FINANCE BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â 7.35 %Â Â (Â Â 7.85 %Â for the Senior Citizens )
1.  CAPITAL SMALL FINANCE BANK             7.15% (  7.65 % for the Senior Citizens )
2. SURYODAY SMALL FINANCE BANK            6.85 % (  7.35 % for the Senior Citizens )
​3.​ UJJIVAN SMALL FINANCE BANK               8.25 % (  8.75 % for the Senior Citizens )
4. UTKARSH SMALL FINANCE BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â 8.00 % (Â Â 8.60 %Â for the Senior Citizens )
5. ​NORTH EAST SMALL FINANCE BANK          7.00 % (  7.75 % for the Senior Citizens )
6 . ESAF SMALL FINANCE BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.00 % (Â Â 6.50 %Â for the Senior Citizens )
7. JANA SMALL FINANCE BANK                8.50 % (  9.00 % for the Senior Citizens )
​8. AU SMALL FINANCE BANKS                 6.75 % (  7.25 % for the Senior Citizens )
9. FINCARE SMALL FINANCE BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â 7.00 % (Â Â 7.60 %Â for the Senior Citizens )
​10. EQUITAS SMALL FINANCE BANK           8.20 % (   8.70 % for the Senior Citizens )
​11. SHIVALIK SMALL FINANCE BANK          8.10 % (  8.60 % for the Senior Citizens ) Â
12. UNITY SMALL FINANCE BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â 7.35 %Â Â (Â Â 7.85 %Â for the Senior Citizens )
5YEARS TERM DEPOSIT INTEREST OF SMALL FINANCE BANKS
Interest Rates for 5 years for General public and Senior Citizens :   RATES GETTING UPDATEDÂ
1.  CAPITAL SMALL FINANCE BANK             7.10 % (  7.60 % for the Senior Citizens )
2. SURYODAY SMALL FINANCE BANK            8.25 % (  8.75% for the Senior Citizens )Â
​3.​ UJJIVAN SMALL FINANCE BANK               7.20 % (  7.70 % for the Senior Citizens )
4. UTKARSH SMALL FINANCE BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â 7.50 % (Â Â 8.10 %Â for the Senior Citizens )
5. ​NORTH EAST SMALL FINANCE BANK          8.00 % (  8.75 % for the Senior Citizens )
6 . ESAF SMALL FINANCE BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.25 % (Â Â 6.75 %Â for the Senior Citizens )
7. JANA SMALL FINANCE BANK                7.25 % (  7.75 % for the Senior Citizens )
​8. AU SMALL FINANCE BANKS                 7.25 % (  7.75 % for the Senior Citizens )
9. FINCARE SMALL FINANCE BANKÂ Â Â Â Â Â Â Â Â Â Â Â 8.00 % (Â Â 8.60 %Â for the Senior Citizens )
​10. EQUITAS SMALL FINANCE BANK           7.25 % (  7.75 % for the Senior Citizens )
​11. SHIVALIK SMALL FINANCE BANKS          7.00% (  7.50 % for the Senior Citizens )  Â
12. UNITY SMALL FINANCE BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â 7.65 %Â Â (Â Â 8.15 %Â for the Senior Citizens )
​
1.  CAPITAL SMALL FINANCE BANK             7.10 % (  7.60 % for the Senior Citizens )
2. SURYODAY SMALL FINANCE BANK            8.25 % (  8.75% for the Senior Citizens )Â
​3.​ UJJIVAN SMALL FINANCE BANK               7.20 % (  7.70 % for the Senior Citizens )
4. UTKARSH SMALL FINANCE BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â 7.50 % (Â Â 8.10 %Â for the Senior Citizens )
5. ​NORTH EAST SMALL FINANCE BANK          8.00 % (  8.75 % for the Senior Citizens )
6 . ESAF SMALL FINANCE BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 6.25 % (Â Â 6.75 %Â for the Senior Citizens )
7. JANA SMALL FINANCE BANK                7.25 % (  7.75 % for the Senior Citizens )
​8. AU SMALL FINANCE BANKS                 7.25 % (  7.75 % for the Senior Citizens )
9. FINCARE SMALL FINANCE BANKÂ Â Â Â Â Â Â Â Â Â Â Â 8.00 % (Â Â 8.60 %Â for the Senior Citizens )
​10. EQUITAS SMALL FINANCE BANK           7.25 % (  7.75 % for the Senior Citizens )
​11. SHIVALIK SMALL FINANCE BANKS          7.00% (  7.50 % for the Senior Citizens )  Â
12. UNITY SMALL FINANCE BANKÂ Â Â Â Â Â Â Â Â Â Â Â Â 7.65 %Â Â (Â Â 8.15 %Â for the Senior Citizens )
​
​SMALL FINANCE BANKS WHICH PAY INTEREST RATES OF 7 % OR MORE TO SENIOR CITIZENS :Â
Dated  24.01.2024 : Following banks are paying  interest rates of 7 % or more to their Senior Citizen customers for 5 years and above Fixed Deposits as of now :Â
​1. SURYODAY SF BANK   :   8.75 % paÂ
2. UJJIVAN SF BANK     :   7.70 % paÂ
3. SHIVALIK SF BANK    :  7.50 % pa  Â
4. AU SF BANK :Â Â Â Â Â Â Â Â Â :Â Â 7 .75 % paÂ
5. FINCARE SF BANK     :  8.60 % paÂ
6. NORTHEAST SF BANKÂ Â :Â 8.75 % pa
7. UTKARSH SFÂ Â Â Â Â Â Â Â Â :Â Â 8.10 % pa
8. EQUITAS SFÂ Â Â Â Â Â Â Â Â Â :Â Â 7.75Â % pa
9. CAPITAL SF BANKÂ Â Â Â Â Â :Â Â 7.60 %Â pa
10 . UNITY SF BANKÂ Â Â Â Â Â Â :Â Â 8.15 % pa
11. JANA SF BANK.        :  7.75 % pa
Following banks pay interest rates of 7 % or more  for one year deposits to senior citizensÂ
1. UJJIVAN SF BANK     :   8.75 % paÂ
​2. JANA SF BANK       :   9.00 % pa Â
3. SURYODAYAÂ SFÂ Â Â Â Â Â :Â Â Â 7.35 % PAÂ Â
4. UTKARSH SF         :   8.60 % pa Â
5. EQUITAS SF         :   8.70 % pa
6. SHIVALIK SFÂ Â Â Â Â Â Â Â Â Â :Â Â 8.60Â %Â pa
7.  CAPITAL SF            : 7.65 % pa
8. NORTH EAST SFÂ Â Â Â Â Â Â :Â Â 7.75 % PA
9 . UNITY SF BANKÂ Â Â Â Â Â Â :Â Â 7.85 % pa
10 . AU SF BANKÂ Â Â Â Â Â Â Â :Â Â Â 7.25 % paÂ
11. FINCARE SF.         :  7.60 % paÂ
FOR THE LATEST FD INTEREST RATESÂ OF PUBLIC SECTOR BANKSÂ Â , CLICK HEREÂ
INDIAN PRIVATE BANKS INTEREST RATES
FOR THE LATEST FD INTEREST RATES OF PRIVATE SECTOR BANKS   , CLICK HEREÂ
 New Updated ArticleÂ
      Â
 TAX PLANNING FOR FY 2023-24 ( AY 2024-25 )Â
Comprehensive  Article on Income tax changes in Rules, Rates , Slabs , Rebates  and EstimationÂ
CLICK HERE TO READ ​
      Â
 TAX PLANNING FOR FY 2023-24 ( AY 2024-25 )Â
Comprehensive  Article on Income tax changes in Rules, Rates , Slabs , Rebates  and EstimationÂ
CLICK HERE TO READ ​
​UNION BUDGET 2023 AND SENIOR CITIZENS Â
In our new blog article , we have explored what the new IT regime means to senior citizens and what extent senior citizens / retirees / pensioners are gaining / losing from the new regime .As the new regime is optional , one can take studied decisions before opting either of the new or old scheme .
In our new blog article , we have explored what the new IT regime means to senior citizens and what extent senior citizens / retirees / pensioners are gaining / losing from the new regime .As the new regime is optional , one can take studied decisions before opting either of the new or old scheme .
​HEALTH INSURANCE PLANS FOR SENIOR CITIZENS  WITH OR WITHOUT AGE RESTRICTIONSÂ
TOÂ READ THE ARTICLEÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â CLICK HEREÂ
​
TOÂ READ THE ARTICLEÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â CLICK HEREÂ
​
 Small finance banks pay  between 5.25 % to 7.40 % for public and 5.75  % to 8.05  % for senior citizens .  Ujjivan   SF Bank pay highest of 7.40 % for the public and  Jana SF Bank  pays 8.05  % for the senior citizens .Â
​​
​​
SPECIAL SCHEMES OF BANKSÂ Â FOR SPECIAL PERIODÂ : as on 31.05.2023Â
1. Capital SF Bank pays 7.60 %, for 400 days and 7.40 % for , 600, & 900 days  deposits for the public . It also pays 8.10  %, for 400 and 7.90 % for 600, & 900 days  deposits for the senior citizens .Â
2 . Ujjivan  SF Bank  pays  7.75 %  and 8.25 % for 990 days for General public and senior citizens  respectively  .
​3. North East SF Bank  pays 8.40  %  and 9.15 % for 400 days for General public and senior citizens  respectively .    It pays 8.50  %  and 9.25 % for 555 days or 1111  days for General public and senior citizens  respectively . Â
4. Fincare  SF Bank pays 8.21 % , 8.61 % and 8.41 % for 500 , 750, & 1000 days  deposits for the public . It also pays 8.81  %, 9.21 % & 9.01 % for 500 , 750, & 1000 days  deposits for the senior citizens .Â
5. Equitas  SF Bank  pays 8.25 %  and 8.75  % for 888 days for General public and senior citizens  respectively . It also   pays 8.50 %  and 9.00.  % for 444 days for General public and senior citizens  respectively
6. Unity  SF Bank  pays  8.75 %  and 9.25 % for 501  days for General public and senior citizens  respectively .    It pays 9.00  %  and 9.50 % for 1001  days for General public and senior citizens  respectively . Â
1. Capital SF Bank pays 7.60 %, for 400 days and 7.40 % for , 600, & 900 days  deposits for the public . It also pays 8.10  %, for 400 and 7.90 % for 600, & 900 days  deposits for the senior citizens .Â
2 . Ujjivan  SF Bank  pays  7.75 %  and 8.25 % for 990 days for General public and senior citizens  respectively  .
​3. North East SF Bank  pays 8.40  %  and 9.15 % for 400 days for General public and senior citizens  respectively .    It pays 8.50  %  and 9.25 % for 555 days or 1111  days for General public and senior citizens  respectively . Â
4. Fincare  SF Bank pays 8.21 % , 8.61 % and 8.41 % for 500 , 750, & 1000 days  deposits for the public . It also pays 8.81  %, 9.21 % & 9.01 % for 500 , 750, & 1000 days  deposits for the senior citizens .Â
5. Equitas  SF Bank  pays 8.25 %  and 8.75  % for 888 days for General public and senior citizens  respectively . It also   pays 8.50 %  and 9.00.  % for 444 days for General public and senior citizens  respectively
6. Unity  SF Bank  pays  8.75 %  and 9.25 % for 501  days for General public and senior citizens  respectively .    It pays 9.00  %  and 9.50 % for 1001  days for General public and senior citizens  respectively . Â
If you have earned from stock market or from sale of properties to know tax liability Read the  NEW ARTICLE ON Â
                              CAPITAL GAIN AND TAXÂ
                      CLICK HERE TO READÂ
                              CAPITAL GAIN AND TAXÂ
                      CLICK HERE TO READÂ
To know the latest interest rates offered by individual banks for various maturities , click on the name of the bank to reach their websites .Â
                                                                                 Â
SMALL FINANCE BANKSÂ
1.   CAPITAL SMALL FINANCE BANK Â
2.  SURYODAY SMALL FINANCE BANK Â
​3.​ UJJIVAN SMALL FINANCE BANKÂ
4. UTKARSH SMALL FINANCE BANKÂ
5. ​NORTH EAST SMALL FINANCE BANKÂ
6 . ESAF SMALL FINANCE BANK
7. JANA SMALL FINANCE BANK Â
​8. AU SMALL FINANCE BANKSÂ
9. FINCARE SMALL FINANCE BANKÂ
​10. EQUITAS SMALL FINANCE BANK
​11. SHIVALIK SMALL FINANCE BANKSÂ
​
​12. UNITY SMALL FINANCE BANKÂ
                                                                                 Â
SMALL FINANCE BANKSÂ
1.   CAPITAL SMALL FINANCE BANK Â
2.  SURYODAY SMALL FINANCE BANK Â
​3.​ UJJIVAN SMALL FINANCE BANKÂ
4. UTKARSH SMALL FINANCE BANKÂ
5. ​NORTH EAST SMALL FINANCE BANKÂ
6 . ESAF SMALL FINANCE BANK
7. JANA SMALL FINANCE BANK Â
​8. AU SMALL FINANCE BANKSÂ
9. FINCARE SMALL FINANCE BANKÂ
​10. EQUITAS SMALL FINANCE BANK
​11. SHIVALIK SMALL FINANCE BANKSÂ
​
​12. UNITY SMALL FINANCE BANKÂ
                                         Â
                                    ARTICLES ON  Â
                                   Â
 SMALL FINANCE BANKS                                     PAYMENT  BANKS   Â
                                    Â
UNIFIED Â PAYMENT INTERFACEÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â BHARAT BILL PAYMENT SYSTEMÂ Â Â
     BHIM APP                                                AADHAR Â
      Â
​e-INSURANCE  Account (  eIA  )                                 SWIFT ​
                                    ARTICLES ON  Â
                                   Â
 SMALL FINANCE BANKS                                     PAYMENT  BANKS   Â
                                    Â
UNIFIED Â PAYMENT INTERFACEÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â BHARAT BILL PAYMENT SYSTEMÂ Â Â
     BHIM APP                                                AADHAR Â
      Â
​e-INSURANCE  Account (  eIA  )                                 SWIFT ​