When it comes to investing in India, fixed deposits (FDs) or term deposits in banks, public and private, and NBFCs continue to be the most popular investment option
Small finance banks offer the best interest rates on fixed deposits (including special term deposit rates on FDs) when compared to public and private sector banks
Some small finance banks are currently offering close to 10% interest rates for senior citizens and 9% for general customers
Suryoday Small Finance Bank offers a maximum interest rate of 9.6% to senior citizens on five-year deposits. For general customers, the interest rate is 9.1%
Unity Small Finance Bank is offering an interest rate of 9.5% to senior citizens for its 1,001-day scheme. The general citizens can get a maximum interest rate of 9% for the same FD scheme
Utkarsh Small Finance Bank is offering an interest rate of 8.25% on deposits with tenors of 1000 to 1500 days to general customers. The bank is offering a maximum return of 8.85% to senior persons for the same tenure
ESAF Small Finance Bank is offering senior citizens a maximum interest rate of 9% on fixed deposits for the 2-year to less than 3-year tenure. For the same time period, general citizens can get a maximum interest rate of 8.5% interest
Equitas Small Finance Bank is offering a maximum interest rate of 9% to senior citizens on the FD scheme of 888 days. The bank is offering a maximum interest rate of 8.5% to its general customers for the same scheme
Fincare Small Finance Bank is offering an interest rate of 9.01% to senior citizens for the 1000-day FD scheme. The general customers can get a maximum interest rate of 8.41% for the same scheme of 1000 days
Bandhak Bank is offering a maximum interest rate of 8.5% to its senior citizen customers on 600-day term deposits. General customers can get a maximum interest rate of 8% for the same fixed deposit scheme