PremiumAU Small Finance Bank (SFB) revises interest rates on fixed deposits of less than ₹2 Cr as well as on savings bank deposits. As per the official website of the bank, the new rates are effective as of 12th December 2022. Following the revision, the bank is now offering FD rates ranging from 3.75% to 7.20% across a tenure bucket of 7 days to 10 years and on savings accounts the bank is offering a maximum interest rate of 7.25% to the retail investors.
On savings account balances less than INR 1 Lac, the bank is offering an interest rate of 3.50% and on savings account balances from INR 1 Lac to less than INR 10 Lacs, AU SFB is promising an interest rate of 5.00%. AU SFB is offering an interest rate of 6.00% on savings account balances from INR 10 Lacs to less than INR 25 Lacs and the bank is paying an interest rate of 7.00% on savings account balances from INR 25 Lacs to less than INR 1 Crore. On savings account balances from INR 1 Crore to less than INR 10 Crores, AU Small Finance Bank is promising an interest rate of 7.25%. Interest on savings accounts will be determined daily and paid monthly by the bank.
AU Small Finance Bank has mentioned on its website that “Interest rates mentioned are applicable for the incremental balances that are present corresponding to the amount slab mentioned. For example: If the total balance is INR 5 Crores, then the following grid will be applicable:
For balances of INR 1 to INR 99,999 : 3.50%
For incremental balances of INR 1 Lac to INR 9,99,999 : 5.00%
For incremental balances of INR 10 Lacs to INR 24,99,999 : 6.00%
For incremental balances of INR 25 Lacs to INR 1 Crore : 7.00%
For incremental balances of INR 1 Crore to INR 2 Crores : 7.25%
For incremental balances of INR 2 Crore to INR 5 Crores : 7.25%
Source: Bank Website
The bank is giving an interest rate of 3.75% on deposits maturing in the next 7 days to 1 month and 15 days, and AU SFB is offering an interest rate of 4.25% on deposits maturing in the next 1 month and 16 days to 3 months. For FDs maturing in 3 months, 1 day to 6 months, AU Small Finance Bank promises a rate of 5.00%, and for those maturing in 6 months, 1 day to 12 months, it promises a rate of 6.10%. Deposits with maturities between 12 months and 15 months will earn 7.35% interest, while deposits with maturities between 15 months and 24 months will earn 7.20% interest. The bank is giving an interest rate of 7.75% on deposits maturing in 24 months, 1 day to 45 months, and AU SFB is offering an interest rate of 7.20% on deposits maturing in 45 months, 1 day to 120 months.
