Interest rates

This DICGC-insured SFB increases fixed deposit interest rates: now get up to 8%

On term deposits below 2 crore, Fincare Small Finance Bank (SFB) announced an interest rate hike. The higher interest rates are effective from August 21, 2022, according to the official website of the DICGC-Insured Fincare Small Finance Bank. Following the amendment, the bank now grants a maximum interest rate of 7.50% for term deposits with a maturity of 1,000 days to the general public and 8% for seniors.

Fincare SFB FD rates

The bank will continue to offer interest rates of 3% and 3.50% on term deposits that mature in 7-45 days and 46-90 days, respectively. An interest rate of 4% will always be offered on term deposits maturing between 91 days and 180 days, and an interest rate of 5.40% will always be offered on deposits maturing between 181 days and 364 days. The interest rate on term deposits with a maturity of 12 to 15 months will now be 6.75%, against 6.25% previously, an increase of 50 basis points, according to Fincare Small Finance Bank (SFB). The bank will now offer an interest rate of 6.75% on term deposits maturing in 15 months, from 1 day to 499 days, and a rate of 7% on term deposits maturing in 500 days . Term deposits with a maturity between 501 and 24 months will now pay an interest rate of 6.75%, while term deposits with a maturity between 24 months and 749 days will now pay an interest rate 7% interest.

From now on, Fincare Small Finance Bank (SFB) will pay 7.25% interest on term deposits that mature in 750 days and 7% interest on deposits that mature in 751 to 999 days. The maximum interest rate for deposits with a maturity of 1000 days is now 7.50%, while the interest rate for deposits with a maturity of 1001 days to 48 months is now 7.50% %. The bank will now offer an interest rate of 6.75% on term deposits with a maturity of 48 months, from 1 day to 59 months, and 7% on term deposits with a maturity of 59 months, from 1 day at 66 months. The interest rate on term deposits of Fincare Small Finance Bank is now 6% for maturities between 66 months and 1 day and 84 months.

Senior citizens will continue to benefit from an additional interest rate of 0.50% on top of the normal rate, on all maturities at Fincare Small Finance Bank. The bank mentioned on its website that “an elderly person is defined as a person over the age of 60. In the case of holders of a joint account where one of the holders is a senior, please note that the interest rate on the term deposit for seniors will only be applicable if the senior is the “first holder”. of said term deposit. »

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