Inflation Beating Fixed Deposit Interest Rates: The retail inflation in India has cooled off in June to 7.01 per cent on the Reserve Bank of India hiking its repo rates, but is still above the central bank’s upper tolerance limit. In a bulletin released earlier this month, the RBI said that inflation may be peaking in India, but the prediction may be premature. In this scenario, and given that markets have been volatile for months now, investors are looking for safe ways to invest that will give them high returns. Bank FDs are a good way to save money and get interests, but they often provide a low rate of return.
With the CPI being 7.01 per cent in July, traditional bank fixed deposits that provide interest rates in the 2-6 per cent brackets, may not be fruitful for investors who want inflation-beating interest rates on their deposits. However, some small finance banks including the Suroday Small Finance Bank, Jana Small Finance Bank and Ujjivan Small Finance Bank are offering interest rates that beat current inflation rates with their FD interest Rates. These are applicable for deposits below Rs 2 crore.
Suryoday Small Finance Bank FD Rates
7 days to 14 days: For General Public – 3.25 per cent; For Senior Citizens – 3.75 per cent
15 days to 45 days: For General Public – 3.25 per cent; For Senior Citizens – 3.75 per cent
46 days to 90 days: For General Public – 4.25 per cent; For Senior Citizens – 4.75 per cent
91 days to 6 months: For General Public – 4.75 per cent; For Senior Citizens – 5.25 per cent
More than 6 months to 9 Months: For General Public – 5.25 per cent; For Senior Citizens – 5.75 per cent
More than 9 months to Less than 1 Year: For General Public – 5.75 per cent; For Senior Citizens – 6.25 per cent
1 Year to 1 Year 6 Months: For General Public – 6.50 per cent; For Senior Citizens – 7.00 per cent
More than 1 Year 6 Months to Less than 2 Years: For General Public – 6.50 per cent; For Senior Citizens – 7.00 per cent
Above 2 Years to 998 days: For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent
999 Days: For General Public – 7.49 per cent; For Senior Citizens – 7.99 per cent
1000 Days up to 3 Years: For General Public – 7.00 per cent; For Senior Citizens – 6.80 per cent
Above 3 Years to Less than 5 Years: For General Public – 6.50 per cent; For Senior Citizens – 7.00 per cent
5 years: For General Public – 6.75 per cent; For Senior Citizens – 7.25 per cent
5 Years and Above to 10 Years: For General Public – 6.00 per cent; For Senior Citizens – 6.50 per cent
Jana Small Finance Bank FD Interest Rates
15 days to 60 days: For General Public – 3.00 per cent; For Senior Citizens – 3.80 per cent
61 days to 90 days: For General Public – 3.75 per cent; For Senior Citizens – 4.55 per cent
91 days to 180 days: For General Public – 4.50 per cent; For Senior Citizens – 5.30 per cent
181 days to 364 days: For General Public – 5.50 per cent; For Senior Citizens – 6.30 per cent
1 Year (365 days): For General Public – 6.50 per cent; For Senior Citizens – 7.30 per cent
1 Year and above to 2 Years: For General Public – 7.00 per cent; For Senior Citizens – 7.80 per cent
2 Years and Above to Less than 3 Years: For General Public – 7.25 per cent; For Senior Citizens – 8.05 per cent
3 Years and Above to Less than 5 Years: For General Public – 7.25 per cent; For Senior Citizens – 8.05 per cent
5 years (1825 Days): For General Public – 7.35 per cent; For Senior Citizens – 8.15 per cent
5 Years and Above to 10 Years: For General Public – 6.00 per cent; For Senior Citizens – 6.80 per cent
Ujjivan Small Finance Bank FD Interest Rates
30 days to 89 days: For General Public – 3.50 per cent; For Senior Citizens – 4.00 per cent
90 days to 179 days: For General Public – 4.25 per cent; For Senior Citizens – 4.75 per cent
6 months: For General Public – 5.00 per cent; For Senior Citizens – 5.50 per cent
6 months and above to less than 9 months: For General Public – 4.75 per cent; For Senior Citizens – 5.25 per cent
9 months: For General Public – 5.05 per cent; For Senior Citizens – 5.55 per cent
9 months and above to less than 1 year: For General Public – 6.50 per cent; For Senior Citizens – 7.30 per cent
1 year: For General Public – 6.70 per cent; For Senior Citizens – 7.20 per cent
12 Months and 1 Day to 15 Months : For General Public – 6.00 per cent; For Senior Citizens – 6.50 per cent
15 Months and 1 Day to 18 Months: For General Public – 7.00 per cent; For Senior Citizens – 7.50 per cent
18 Months and 1 Day to less than 24 Months: For General Public – 6.60 per cent; For Senior Citizens – 7.10 per cent
24 Months: For General Public – 7.10 per cent; For Senior Citizens – 7.60 per cent
990 Days: For General Public – 6.50 per cent; For Senior Citizens – 7.00 per cent
991 Days to 36 Months: For General Public – 7.20 per cent; For Senior Citizens – 7.70 per cent
18 Months and 1 Day to less than 24 Months: For General Public – 6.50 per cent; For Senior Citizens – 7.00 per cent
36 Months and 1 Day to 42 Months: For General Public – 6.25 per cent; For Senior Citizens – 6.75 per cent
42 Months and 1 Day to 60 Months: For General Public – 7.20 per cent; For Senior Citizens – 7.70 per cent
60 Months and 1 day to 120 Months: For General Public – 6.00 per cent; For Senior Citizens – 6.50 per cent
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