Bank That Offers 9.01% Interest Rate On Fixed Deposits

Fixed deposits have emerged one of the safest investment options and they come with host of benefits that may include better interest rate, flexibility, tax exemptions, and guaranteed returns among others. Many banks have been increasing interest rate on fixed deposits to make them an attractive investment option.

Now, yet another popular bank, Fincare Small Finance Bank has decided to increase interest rates on fixed deposits. The bank increased interest rate both for regular citizens and senior citizens.

The bank's latest interest rates have become effective from March 24, 2023, according to the press release.

Now, senior citizens can fetch maximum interest rate of 9.01% and regular citizens can obtain highest interest rate of 8.41% for deposits below Rs 2 crore.

It is worth noting that the minimum FD period of the bank begins with the tenure of 7 days to 45 days where in general public can get an interest rate of 3.00% and senior citizens can get an interest rate of 3.60%. For FDs for the tenure of 12 months to 15 months, the bank is offering regular citizens an interest rate of 7.50% and 8.10% interest rate to senior citizens.

For FDs maturing in 500 days, regular citizens will be eligible to receive 7.75% interest rate and senior citizens can get 8.35% interest rate.

Meanwhile, FDs maturing in 18 months to 21 months, regular citizens are offered an interest rate of 7.80% and senior citizens are offered an interest rate of 8.40%.
If regular citizens and senior citizens opt for FDs for the tenor of 36 months 1 day to 42 months, they can get 8.25% interest and 8.85% interest rate.