Small Finance Banks Offer Up to 8% FD Rates, Outperforming Top Banks

• Small finance banks are offering significantly higher Fixed Deposit (FD) rates, up to 8%, compared to larger public and private banks.
• Suryoday Small Finance Bank and Shivalik Small Finance Bank lead with 8% interest on specific tenure FDs for both regular and senior citizens.
• Other small finance banks like Jana, Utkarsh, Slice, Ujjivan, AU, and Unity also provide competitive rates, often exceeding 7%.
• All FDs in these banks are insured up to Rs. 5 lakh under DICGC, providing security despite higher returns.
• Investors can earn substantial interest, for example, Rs. 25,000 to Rs. 30,000 on a Rs. 5 lakh FD at 8% for three years, with tax benefits for senior citizens.

Why It Matters: Small finance banks offer attractive, insured FD rates up to 8%, providing a secure alternative to market volatility.