scorecardresearchVolatile markets: Some banks are offering over 6 percent interest rate on fixed deposits

Volatile markets: Some banks are offering over 6 percent interest rate on fixed deposits

Updated: 02 Mar 2022, 03:38 PM IST
TL;DR.

For most short duration term deposits, the rate of interest ranges between 3.5 to 5 percent. But some banks still offer over 6% per annum for deposits with tenure longer than one year 

Yes Bank: It offers 6 percent on regular deposit deposits for deposits between 18 months to three years. For deposits more than 3 years and less than 10 years, the interest rate will be 6.25 percent per annum.For term deposits less than 18 months, the rate varies between 3.25 percent to 5.75 percent depending on the time duration.

Yes Bank: It offers 6 percent on regular deposit deposits for deposits between 18 months to three years. For deposits more than 3 years and less than 10 years, the interest rate will be 6.25 percent per annum.For term deposits less than 18 months, the rate varies between 3.25 percent to 5.75 percent depending on the time duration.

SBM Bank: It offers 6.10 percent interest on deposits between one year to 390 days. For deposits between 391 days to 18 months, the rate rises to 6.45 percent. This further rises to 6.6 percent for deposits up to 3 years. For deposits of longer tenure, the rate is 6 percent. 

SBM Bank: It offers 6.10 percent interest on deposits between one year to 390 days. For deposits between 391 days to 18 months, the rate rises to 6.45 percent. This further rises to 6.6 percent for deposits up to 3 years. For deposits of longer tenure, the rate is 6 percent. 

Utkarsh Small Finance Bank: It offers interest at the rate of 6.5 percent per annum for deposits of the tenure between 365 days to 699 days. For deposits between the tenure of 700 to 999 days, the interest rate is 6.75 percent. For deposits of 1,000 days tenure, the rate of interest is 6.9 percent. For deposits of 1001 days and up to 5 years, the rate of interest is 6.75 percent and for deposits in the range of five years to 10 years, rate of interest would be 6 percent. 

Utkarsh Small Finance Bank: It offers interest at the rate of 6.5 percent per annum for deposits of the tenure between 365 days to 699 days. For deposits between the tenure of 700 to 999 days, the interest rate is 6.75 percent. For deposits of 1,000 days tenure, the rate of interest is 6.9 percent. For deposits of 1001 days and up to 5 years, the rate of interest is 6.75 percent and for deposits in the range of five years to 10 years, rate of interest would be 6 percent. 

Equitas Small Finance Bank: For deposits ranging between one year to 18 months, the rate of interest is 6 percent. For time duration between 18 months one day to two years, the rate of interest would be 6.25 percent.For longer deposits - between two years to 887 days, the rate is 6.35 percent and for 888 days, it is 6.5 percent. For 889 days to three years, it is 6.35 percent. For deposits between three years one day up to 10 years, the rate is 6 percent. For deposits less than one year, the rate of interest ranges between 3.5 percent to 5 percent depending on the duration. 

Equitas Small Finance Bank: For deposits ranging between one year to 18 months, the rate of interest is 6 percent. For time duration between 18 months one day to two years, the rate of interest would be 6.25 percent.For longer deposits - between two years to 887 days, the rate is 6.35 percent and for 888 days, it is 6.5 percent. For 889 days to three years, it is 6.35 percent. For deposits between three years one day up to 10 years, the rate is 6 percent. For deposits less than one year, the rate of interest ranges between 3.5 percent to 5 percent depending on the duration. 

Ujjivan Small Finance Bank: It offers rate of 6.5 percent for 12-month deposits. The rate falls to 6 percent for deposits for the tenure of 12 months and one day to 19 months.  This further rises to 6.6 percent for tenure between 19 months and one day to 24 months. For 24 months and one day to 989 days, the rate is 6.5 percent. For 990 days, the rate is 6.75 percent. For tenure between 991 days to three years, the rate is 6.5 percent. For tenure between three years and one day to five years, the rate of interest is 6.25 percent. For five years and one day to 10 years, the rate is 6 percent.

Ujjivan Small Finance Bank: It offers rate of 6.5 percent for 12-month deposits. The rate falls to 6 percent for deposits for the tenure of 12 months and one day to 19 months.  This further rises to 6.6 percent for tenure between 19 months and one day to 24 months. For 24 months and one day to 989 days, the rate is 6.5 percent. For 990 days, the rate is 6.75 percent. For tenure between 991 days to three years, the rate is 6.5 percent. For tenure between three years and one day to five years, the rate of interest is 6.25 percent. For five years and one day to 10 years, the rate is 6 percent.

First Published: 02 Mar 2022, 03:14 PM IST