This SFB hikes FD rates, regular customers can get up to 8% on 999 days of tenor

2 min read . Updated: 13 Jan 2023, 02:30 PM IST Vipul Das

ESAF SFB is now giving a maximum return of 8.00% for the general public and 8.50% for senior citizens on a deposit tenor of 999 days (2 years 8 months & 25 days).

ESAF Small Finance Bank (SFB) has hiked interest rates on fixed deposits of less than ₹2 Cr.

ESAF SFB FD Rates

The bank is now giving an interest rate of 4.00% on deposits maturing in the next 7 to 14 days, while ESAF Small Finance Bank (SFB) is also offering an interest rate of 4.50% on deposits maturing in the next 15 to 59 days. A deposit tenor of 60 days to 90 days will now earn interest at a rate of 5.00%, while a deposit tenor of 91 days to 182 days will earn interest at a rate of 5.25%.

Deposits with maturities between 183 and 1 year will earn interest at a rate of 5.50%, while those with maturities between 1 year and 1 day and less than 2 years will now earn interest at a rate of 7.50%. The bank is now giving an interest rate of 7.75% on deposits maturing in 2 years to 998 days, while ESAF Small Finance Bank (SFB) is currently offering a maximum interest rate of 8.00% on deposits maturing in 999 days (2 years 8 months & 25 days).

The interest rate on deposits maturing in 1000 days to less than 3 years is currently 7.75%, while the interest rate on deposits maturing in 3 years to less than 5 years is 5.75%. Deposits with maturities between five and ten years will now earn interest at 5.25%.

Both new resident term deposits and renewals of current resident term deposits are subject to these interest rates. The interest rates mentioned above also apply to resident recurring deposits. Across all deposit tenors, senior citizens will continue to get an additional rate of 50 bps over and above the regular rates.

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In 21 States and 2 Union Territories as of the end of March 2022, ESAF Small Finance Bank has 575 banking locations.

ABOUT THE AUTHOR

Vipul Das

Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).