Senior Citizens Can Earn 9.01% Interest On 1000 Days FD With This Bank; Check Details

In the past 1 year, the rising repo rate has encouraged banks to raise the Fixed Deposit interest rates due to the rising repo rate. Reserve Bank of India (RBI) has hiked repo rate 6 since since May 2022, a total increase of 250 basis points. However, in its last meeting held this month, the RBI paused the repo rate hike after six consecutive repo rate hikes.

As a result of the rising report rate which encouraged the banks and NBFCs to hike the FD rates, now, banks are offering more than 9% interest on select FD tenure to their customers.

Fincare Small Finance Bank FD Rates

Fincare Small Finance Bank (SFB) is one of the few banks in India that now offers high interest rates on fixed deposits. The bank offers more than 9% on select tenure on deposits below Rs 2 crore.

The bank offers FDs with tenure ranging from 7 days to 84 months. The interest rate offered by the bank on these tenures ranges from 3% to 8.41% for the general public and 3.60% to 9.01% for senior citizens.

The bank offers 3 special tenure FDs of 500 days, 750 days and 1000 days. On the 500 days deposit period, the bank offers 7.75% interest to regular customers and 8.35% to senior citizens. On the deposit period of 750 days, the bank offers 8.11% interest to regular customers and 8.71% to senior citizens. On the deposit period of 1001 days, the bank offers the highest 8.41% to regular customers and the highest 9.01% to senior citizens.

The bank provides an additional rate of 0.50% over and above the regular rate across all tenors to senior citizens.

Resident Fixed Deposit (Less than Rs. 2 Cr) - with premature withdrawal facility

Tenure	General Public	Senior Citizens
7 days - 45 days	3.00%	3.60%
46 days - 90 days	4.50%	5.10%
91 days - 180 days	5.50%	6.10%
181 days - 365 days	6.25%	6.85%
12 months - 15 months	7.50%	8.10%
15 months 1 days - 499 days	7.50%	8.10%
500 days	7.75%	8.35%
501 days - 18 months	7.50%	8.10%
18 months 1 day - 21 months	7.80%	8.40%
21 months 1 day - 24 months	7.80%	8.40%
24 months 1 day - 749 days	7.90%	8.50%
750 days	8.11%	8.71%
751 days - 30 months	7.90%	8.50%
30 months 1 day - to 999 days	8.00%	8.60%
1000 days	8.41%	9.01%
1001 days - 36 months	8.00%	8.60%
36 months 1 day - 42 months	8.25%	8.85%
42 months 1 day - 48 months	7.50%	8.10%
48 months 1 day - 59 months	7.50%	8.10%
59 months 1 day - 66 months	8.00%	8.60%
66 months 1 day - 84 months	7.00%	7.60%

Source - fincarebank.com