Getty ImagesFincare Small Finance Bank has hiked its fixed deposit interest rates, applicable for deposits below Rs. 2 crore. The new rates are effective from December 17, 2022.
For deposits tenure of 7 to 45 days, the bank will pay a 3% interest rate, while for deposits held for 46 to 90 days, the rate is now 3.50%. The interest rate on fixed deposits with terms of 91 to 180 days is 4.50%. The interest rate on deposits maturing in 181 days to 364 days has increased to 5.50%, while the interest rate on deposits maturing in 12 months to 15 months has increased to 7.25%.
While the interest rate on 15 month, one day to 24 months (except 500days), the interest rate offered is 7.30 percent. A 7.50 percent interest rate will still be paid by Fincare SFB on deposits with 500 days tenure and 8% interest on tenure of 1000 days.
For tenure from 1001 days to 48 months, the bank offers 7 percent interest after the revision. Deposits maturing in 59 months, 1 day to 66 months now have an interest rate of 7 percent. For deposits maturing in 66 months, 1 day to 84 months now have an interest rate of 6 percent after the revision.
Resident Fixed Deposit (less than Rs 2 Crore) - with premature withdrawal facility
Source: Fincare Small Finance Bank press release
Senior Citizens
Senior citizens over the age of 60 will continue to get an additional rate of 0.50% over and above the usual rate across all tenors. Interest rate for senior citizens vary between 3.50% to 8.50%. The highest rate of interest is offered on 1000 days tenure.
For deposits tenure of 7 to 45 days, the bank will pay a 3% interest rate, while for deposits held for 46 to 90 days, the rate is now 3.50%. The interest rate on fixed deposits with terms of 91 to 180 days is 4.50%. The interest rate on deposits maturing in 181 days to 364 days has increased to 5.50%, while the interest rate on deposits maturing in 12 months to 15 months has increased to 7.25%.
While the interest rate on 15 month, one day to 24 months (except 500days), the interest rate offered is 7.30 percent. A 7.50 percent interest rate will still be paid by Fincare SFB on deposits with 500 days tenure and 8% interest on tenure of 1000 days.
For tenure from 1001 days to 48 months, the bank offers 7 percent interest after the revision. Deposits maturing in 59 months, 1 day to 66 months now have an interest rate of 7 percent. For deposits maturing in 66 months, 1 day to 84 months now have an interest rate of 6 percent after the revision.
Resident Fixed Deposit (less than Rs 2 Crore) - with premature withdrawal facility
| Tenure | General Public | Senior Citizen Rate |
| 7 days - 45 days | 3.00% | 3.50% |
| 46 days - 90 days | 3.50% | 4.00% |
| 91 days - 180 days | 4.50% | 5.00% |
| 181 days - 364 days | 5.50% | 6.00% |
| 12 months - 15 months | 7.25% | 7.75% |
| 15 Months 1 day-499 days | 7.30% | 7.80% |
| 500 days | 7.50% | 8.00% |
| 501 days - 18 months | 7.30% | 7.80% |
| 18 months 1 day - 21 months | 7.30% | 7.80% |
| 21 months 1 day - 24 months | 7.30% | 7.80% |
| 24 months 1 day- 749 days | 7.00% | 7.50% |
| 750 days | 7.75% | 8.25% |
| 751 days - 30 months | 7.00% | 7.50% |
| 30 months 1 day to 999 days | 7.00% | 7.50% |
| 1000 days | 8.00% | 8.50% |
| 1001 days- 36 months | 7.00% | 7.50% |
| 36 months 1 day - 42 months | 7.00% | 7.50% |
| 42 months 1 day - 48 months | 7.00% | 7.50% |
| 48 months 1 day - 59 months | 6.75% | 7.25% |
| 59 months 1 day - 66 months | 7.00% | 7.50% |
| 66 months 1 day - 84 months | 6.00% | 6.50% |
Source: Fincare Small Finance Bank press release
Senior Citizens
Senior citizens over the age of 60 will continue to get an additional rate of 0.50% over and above the usual rate across all tenors. Interest rate for senior citizens vary between 3.50% to 8.50%. The highest rate of interest is offered on 1000 days tenure.
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