FD rate up to 9% for general citizens 3 years tenure

FD interest rate up to 9% for general citizens investing for three years; Check the full list of banks here

Now it has become very rare to find a bank offering up to 9% interest rate on fixed deposit (FD). However, if looked closely there are still some banks which are offering up to 9% interest rate on fixed deposits for general citizens who are looking to invest up to Rs 3 crore for a three years tenure. The deal is further sweetened for senior citizens who get to enjoy up to 9.5% interest on FDs of tenure three years.

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Banks offering up to 9% interest rate on FDs for general citizens

North-East Small Finance Bank FD rate
North-East small finance bank is offering a 9% interest rate to general citizens on its FDs maturing in three years.

Suryoday Small Finance Bank FD rate
Suryoday Small Finance Bank is offering a 8.6% interest rate to general citizens on its FDs maturing in three years

Utkarsh Small Finance Bank FD rate
Utkarsh Small Finance Bank is offering a 8.5% interest rate to general citizens on its FDs maturing in three years.

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Bank name

Interest rate

AU Small Finance Bank

7.50

Equitas Small Finance Bank

8.00

ESAF Small Finance Bank

6.75

Jana Small Finance Bank

8.25

NorthEast Small Finance Bank

9.00

Suryoday Small Finance Bank

8.60

Ujjivan Small Finance Bank

7.20

Unity Small Finance Bank

8.15

Utkarsh Small Finance Bank

8.50

Source: paisabazaar.com as of January 15, 2025

Jana Small Finance Bank FD rate
Jana Small Finance Bank is offering a 8.25% interest rate to general citizens on its FDs maturing in three years.

Unity Small Finance Bank FD rate
Unity Small Finance Bank is offering a 8.15% interest rate to general citizens on its FDs maturing in three years

Equitas Small Finance Bank FD rate
Equitas Small Finance Bank is offering a 8% interest rate to general citizens on its FDs maturing in three years

AU Small Finance Bank FD rate
AU Small Finance Bank is offering a 7.5% interest rate to general citizens on its FDs maturing in three years.

Ujjivan Small Finance Bank FD rate
Ujjivan Small Finance Bank is offering a 7.2% interest rate to general citizens on its FDs maturing in three years.

ESAF Small Finance Bank FD rate
ESAF Small Finance Bank is offering a 6.75% interest rate to general citizens on its FDs maturing in three years.

Disclaimer: While deposits in small finance banks are insured by the Deposit Insurance Credit Guarantee Corporation (DICGC) up to Rs 5 lakh, experts advise investors to exercise caution when investing in their FDs. Given their unique business model, the risk associated with investing in small finance bank FDs might differ slightly from that of scheduled commercial banks. To mitigate potential risks, it's recommended that investors limit their exposure to small finance bank FDs to an amount that falls within the DICGC coverage. This ensures that their principal and interest are protected in unforeseen circumstances.

According to HDFC Bank website as of January 18, 2025, The following will be applicable for a Regular Fixed Deposit:

●TDS will be deducted when interest payable or reinvested on RD and FD per customer across all branches, exceeds Rs 40,000 (Rs 50,000 for senior citizens) in a financial year.

●TDS Certificate will be mailed to you after the end of every quarter during the financial Year providing the details of TDS deducted during the quarter.

“If interest amount is insufficient to recover TDS, the same may get recovered from the principal amount of Fixed Deposit. If a customer wishes to have TDS recovered from CASA, the same can be availed by filling a separate declaration at the branch. For renewed deposits, the new deposit amount consists of the original deposit amount plus Interest Less TDS, if any, less compounding effect on TDS. For reinvestment deposit, the interest reinvested is post TDS recovery and "hence the maturity amount for reinvestment deposits would vary to the extent of tax and compounding effect on tax for the period subsequent of deduction till maturity,” said HDFC Bank on its website.
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This story originally appeared on: India Times - Author:Faqs of Insurances