DelhiDesk Suryoday Small Finance Bank has increased interest rates on fixed deposits below 2 crore by 49 to 160 basis points (bps) across 1-5 years tenure. The bank is offering a whopping 7% interest rate on savings accounts on balances above 5 lakh to 2 crores. The new interest rates have come into effect from May 5, 2023. Senior citizens will earn from 4.50% to as high as 9.60% on their FDs. The bank’s notification said there would be no loss of interest to the customer over the tenure of the deposit as the applicable interest would be paid for the entire period, till the date of maturity or closure, whichever is earlier.

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– Suryoday Small Finance Bank has revised interest rates on fixed deposits below 2 crore by 49 to 160 basis points across 1-5 years tenure
– General public can receive from 4% to 9.10% on their FDs, while senior citizens can earn from 4.50% to 9.60%
– The bank is offering a 7% interest rate on savings accounts on balances above 5 lakh to 2 crores
– Regular customers can get 9.10% interest rate on 5 years deposit, while senior citizens can get 9.60% interest rate
– The new interest rates have come into effect from May 5, 2023
– Under less than 1 year tenure, FD rates range from 4% to 6%
– Senior citizens can earn up to 7.75% interest rate on tenures ranging from 32 Months 27 Days to 3 Years and above 5 years to 10 years
– Interest rate is calculated on a quarterly basis for deposits of tenure above 6 months
– In case of cumulative interest or re-investment interest, they are calculated every quarter and added to the principal
– The applicable interest would be paid for the entire period till the date of maturity or closure, whichever is earlier.

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