Getty ImagesSuryoday Small Finance Bank (SFB) has increased fixed deposit interest rates effective November 2, 2022. Interest rates have been raised by 25 to 52 basis points (bps) across all FD tenures, according to a bank press release.
The bank is offering interest rates ranging from 4.00 percent to 8.01 percent for general investors, and 4.50 percent to 8.26 percent for senior citizens on deposits with amounts less than Rs 2 crore with maturities ranging from 7 days to 10 years.
Suryoday Small Finance Bank is now offering an interest rate of 8.01 percent on 999-day FD terms, while senior citizens are being offered an interest rate of 8.26 percent for the same tenure.
When you open a Fixed deposit with Suryoday Small Finance Bank Interest on Term Deposits is calculated as below, according to the bank press release:
Recurring deposit interest rates
For recurring deposits, the tenure starts from 6 months and the bank is offering interest rates ranging from 5.00 percent to 7.51percent, and for senior citizens from 5.50 percent to 8.02 percent.
The bank is offering interest rates ranging from 4.00 percent to 8.01 percent for general investors, and 4.50 percent to 8.26 percent for senior citizens on deposits with amounts less than Rs 2 crore with maturities ranging from 7 days to 10 years.
Suryoday Small Finance Bank is now offering an interest rate of 8.01 percent on 999-day FD terms, while senior citizens are being offered an interest rate of 8.26 percent for the same tenure.
| Rates | Domestic Deposits (Effective: From November 02, 2022) | |||
| Period | Interest Rate | Annualised Yield° | Senior Citizen Rate # | Annualised Yield° |
| (Per Annum) | (%) | (Per Annum) | (%) | |
| 7 D to 14 D | 4.00% | 4.00% | 4.50% | 4.50% |
| 15 D to 45 D | 4.25% | 4.25% | 4.75% | 4.75% |
| 46 D to 90 D | 4.50% | 4.50% | 5.00% | 5.00% |
| 91 D to 6 M | 5.00% | 5.00% | 5.50% | 5.50% |
| > 6 M to 9 M | 5.50% | 5.61% | 6.00% | 6.14% |
| > 9 M to < 1 Y | 6.00% | 6.14% | 6.50% | 6.66% |
| 1 Y to 1 Y 6 M | 7.00% | 7.19% | 7.50% | 7.71% |
| > 1 Y 6 M to 2 Y | 7.51% | 7.72% | 8.01% | 8.25% |
| Above 2 years to 998 days | 7.51% | 7.72% | 8.01% | 8.25% |
| 999 Days | 8.01% | 8.25% | 8.26% | 8.52% |
| 32 Months 27 days to 3 Years | 7.25% | 7.45% | 7.75% | 7.98% |
| > 3 y to < 5 Y | 6.75% | 6.92% | 7.25% | 7.45% |
| 5 Y | 6.75% | 6.92% | 7.25% | 7.45% |
| > 5 Y to 10 Y | 6.00% | 6.14% | 6.50% | 6.66% |
When you open a Fixed deposit with Suryoday Small Finance Bank Interest on Term Deposits is calculated as below, according to the bank press release:
- On a Quarterly basis for deposits of tenor above 6 months.
- Simple interest is paid at maturity for deposits of less than equal to 6 months.
- Cumulative Interest/ re-investment interest is calculated every quarter and is added to the Principal such that Interest is paid on the Interest earned in the previous quarter as well.
- In the case of a monthly deposit scheme, the interest shall be calculated for the quarter and paid monthly at discounted rate over the Standard FD Rate.
Recurring deposit interest rates
For recurring deposits, the tenure starts from 6 months and the bank is offering interest rates ranging from 5.00 percent to 7.51percent, and for senior citizens from 5.50 percent to 8.02 percent.
| Interest Rate | Senior Citizen Rate# | |
| (Per Annum) | (Per Annum) | |
| 6 months | 5.00% | 5.50% |
| 9 months | 5.50% | 6.00% |
| 12 months | 7.00% | 7.50% |
| 15 months | 7.00% | 7.50% |
| 18 months | 7.00% | 7.50% |
| 21 months | 7.51% | 8.01% |
| 24 months | 7.51% | 8.01% |
| 27 months | 7.51% | 8.01% |
| 30 months | 7.51% | 8.01% |
| 33 months | 7.25% | 7.75% |
| 36 months | 7.25% | 7.75% |
| > 3 y to < 5 Y | 6.75% | 7.25% |
| 5 Y | 6.75% | 7.25% |
| > 5 Y to 10 Y | 6.00% | 6.50% |
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