This bank offers up to 7.25% saving account interest rates, 8.5% FD rates; check details
Fincare Small Finance Bank (SFB) has revised interest rates on savings bank deposits and fixed deposit. As per the official website of the bank, the new rates are effective as of April 17, 2024. Following the modification, will bank offer the highest interest rates on savings accounts up to 7.25% and on fixed deposits the bank will offer highest interest rate of 8% for general citizens and 8.50% for senior citizens.RTGS, NEFT charges of big banks in April 2024 compared: SBI, HDFC Bank, ICICI Bank, PNB
Fincare Small Finance Bank savings account interest rates
Fincare Small Finance Bank (SFB) offers an interest rate of 4% on balances exceeding 1 lakh and up to 5 lakh, while the bank offers a rate of 3% on savings account balances up to 1 lakh. Fincare Small Finance Bank (SFB) is offering a 5% interest rate on savings account balances between 5 lakh to 10 lakh rupees. The bank offers a 7% interest rate on balances above Rs 10 lakh to less than Rs 1 crore and a 7.25% interest rate on above Rs 1 crore to 5 crore on savings account balances.Savings Account Incremental Amount slabRate of Interest applicable w.e.f 17th Apr’24Balances less than INR 1 Lac3.00%Balances from INR 1 Lac to less than INR 5 Lacs4.00%Balances from INR 5 Lac to less than INR 10 Lacs5.00%Balances from INR 10 Lacs to less than INR 25 Lacs7.00%Balances from INR 25 Lacs to less than INR 1 Crore7.00%Balances from INR 1 Crore to less than INR 5 Crores7.25%Balances from INR 5 Crore to less than INR 10 Crores7.00%
How interest is paid is calculated
If the total balance is Rs 5 crores, then the following grid will be applicable:
• For balances of Rs 1 to Rs 99,999 : 3.00%
• For incremental balances of Rs 1 Lac to Rs 9,99,999 : 5.00%
• For incremental balances of Rs 10 Lacs to Rs 24,99,999 : 7.00%
• For incremental balances of Rs 25 Lacs to Rs 99,99,999 : 7.00%
• For incremental balances of Rs 1 Crore to Rs 5 Crores : 7.25%
Latest FD interest rates
Fincare Small Finance Bank offers interest rate between 3.75% to 8% for general citizens, for senior citizens , the bank offers 4.25% to 8.25%.
For Domestic and NRE/NRO Retail Fixed Deposits (For amount less than INR 2 Crore)
Tenure BucketRate of Interest applicable w.e.f 17th Apr’247 Days to 1 Month 15 Days3.75%1 Month 16 Days to 3 Months4.25%3 Months 1 Day to 6 Months4.75%6 Months 1 Day to 12 Months6.50%12 Months 1 Day to 15 Months7.75%15 Months 1 Day to less than 18 Months7.50%18 Months8.00%18 Months 1 Day to 24 Months7.75%24 Months 1 Day to 36 Months7.50%36 Months 1 Day to 45 Months7.50%45 Months 1 Day to less than 60 Months7.25%60 Months to 120 Months7.25%
Senior citizens FD rates
Tenure BucketRate of Interest applicable w.e.f 17th Apr’247 Days to 1 Month 15 Days4.25%1 Month 16 Days to 3 Months4.75%3 Months 1 Day to 6 Months5.25%6 Months 1 Day to 12 Months7.00%12 Months 1 Day to 15 Months8.25%15 Months 1 Day to less than 18 Months8.00%18 Months8.50%18 Months 1 Day to 24 Months8.25%24 Months 1 Day to 36 Months8.00%36 Months 1 Day to 45 Months8.00%45 Months 1 Day to less than 60 Months7.75%60 Months to 120 Months7.75%
This story originally appeared on: India Times - Author:Faqs of Insurances
