Suryoday Small Finance Bank (SSFB) has revised interest rates on fixed deposits from August 07, 2023. Interest rates in five years tenor were revised by 85 basis points.
Following the revision, the bank is now accepting deposits of less than ₹2 crore maturing in seven days to 10 years at an interest rate of 4.00 percent to 8.60 percent to the general public and 4.50 percent to 9.10 percent to senior citizens. This is significant as the regular customers can now get an 8.60 percent interest rate on above two years to three years deposits, while senior citizens can get a 9.10 percent interest rate.
The bank is also offering interest rates of up to seven percent to its savings account customers above ₹5 lakh up to ₹2 crore slab.
| Rates for amount less than ₹2 crore | Domestic Deposits (Effective from August 07, 2023) | |||
| Period | Interest Rate | Annualised Yield | Senior Citizen Rate (Per Annum) | Annualised Yield |
| 7 days to 14 days | 4.00% | 4.00% | 4.50% | 4.50% |
| 15 days to 45 days | 4.25% | 4.25% | 4.75% | 4.75% |
| 46 days to 90 days | 4.50% | 4.50% | 5.00% | 5.00% |
| 91 days to 6 months | 5.00% | 5.00% | 5.50% | 5.50% |
| Above 6 months to 9 months | 5.50% | 5.61% | 6.00% | 6.14% |
| Above 9 months to less than 1 Year | 6.00% | 6.14% | 6.50% | 6.66% |
| 1 Year | 6.85% | 7.03% | 7.35% | 7.56% |
| Above 1 Year to 15 months | 8.25% | 8.51% | 8.75% | 9.04% |
| Above 15 months to 2 years | 8.50% | 8.77% | 9.00% | 9.31% |
| Rates for amount less than ₹2 crore | Domestic Deposits (Effective from August 07, 2023) | |||
| Period | Interest Rate (Per Annum) | Annualised Yield (%) | Senior Citizen Rate (Per Annum) | Annualised Yield (%) |
| Above 2 years to 3 years | 8.60% | 8.88% | 9.10% | 9.42% |
| Above 3 Years to less than 5 Years | 6.75% | 6.92% | 7.25% | 7.45% |
| 5 Years | 8.25% | 8.51% | 8.75% | 9.04% |
| Above 5 years to 10 years | 7.25% | 7.45% | 7.75% | 7.98% |
| Rates for amount less than ₹2 crore | Non-Resident Deposits (Effective from August 07, 2023) | |||
| Period | NRE Interest Rate | Annualised Yield° | NRO Interest Rate | Annualised Yield° |
| 7 days to 14 days |
N.A. | 4.00% | 4.00% | |
| 15 days to 45 days | 4.25% | 4.25% | ||
| 46 days to 90 days | 4.50% | 4.50% | ||
| 91 days to 6 months | 5.00% | 5.00% | ||
| Above 6 months to 9 months | 5.50% | 5.61% | ||
| Above 9 months to less than 1 Year | 6.00% | 6.14% | ||
| 1 Year | 6.85% | 7.03% | 6.85% | 7.03% |
| Above 1 Year to 15 months | 8.25% | 8.51% | 8.25% | 8.51% |
| Above 15 months to 2 years | 8.50% | 8.77% | 8.50% | 8.77% |
| Above 2 years to 3 Years | 8.60% | 8.88% | 8.60% | 8.88% |
| Above 3 Years to less than 5 Years | 6.75% | 6.92% | 6.75% | 6.92% |
| 5 Years | 8.25% | 8.51% | 8.25% | 8.51% |
| Above 5 years to 10 years | 7.25% | 7.45% | 7.25% | 7.45% |
Interest rates for non-callable fixed deposits
Interest Rates | Non-Callable Fixed Deposits (Effective: From August 07, 2023) |
Rates for amount up to ₹20 lakhs and above up to < ₹2 crore | Interest Rate (Per Annum) |
| 1 Year | 7.10% |
| Above 1 Year to 15 months | 8.50% |
| Above 15 months to 2 years | 8.75% |
| Above 2 years to 3 years | 8.85% |
Interest rates for recurring deposits
| Interest Rates | Recurring Deposits (Effective from August 07, 2023) | |
Interest Rate | Senior Citizen Rate# | |
| 6 months | 5.00% | 5.50% |
| 9 months | 5.50% | 6.00% |
| 12 months | 6.85% | 7.35% |
| 15 months | 8.25% | 8.75% |
| 18 months | 8.50% | 9.00% |
| 21 months | 8.50% | 9.00% |
| 24 months | 8.50% | 9.00% |
| 27 months | 8.60% | 9.10% |
| 30 months | 8.60% | 9.10% |
| 33 months | 8.60% | 9.10% |
| 36 months | 8.60% | 9.10% |
| Above 3 Years to less than 5 Years | 6.75% | 7.25% |
| 5 Years | 8.25% | 8.75% |
| Above 5 years to 10 years | 7.25% | 7.75% |
