Many non-banking financial companies (NBFCs) have increased the interest rates on FDs after the RBI raised the repo rate. There is a special offer on making FD for senior citizens.
Special offer for senior citizens, up to 8.75% interest on FD
Many non-banking financial companies (NBFCs) have increased the interest rates on FDs after the RBI raised the repo rate. Several companies have increased interest rates for regular customers as well as senior citizens. Today we will tell you about some such non-banking financial companies which are currently offering the highest interest rate on FD ranging from 8% to 8.75%.
8.75 percent interest on Shriram Transport Finance
On August 10 this month, Shriram Transport Finance has increased the interest rate on its Fixed Deposit (FD). Now Shriram Transport Finance offers the highest interest rate of 8.25% for general citizens and 8.75% for senior citizens.
The company is paying this interest on FDs with maturity of 5 years. In addition, the company is offering 0.50 percent more interest to senior citizens as compared to normal customers.
Utkarsh Small Finance Bank is offering up to 8.25% interest on FD
Utkarsh Small Finance Bank has also increased the interest rate on its fixed deposits with effect from August 12. The bank has increased the interest rates for tenures ranging from 700 days to 5 years on maturity up to Rs 2 crore.
The bank will now pay 7.50% interest to general citizens and 75 basis points more i.e. 8.25% to senior citizens. The bank also said that senior citizens will get an additional 75 basis points or 0.75 per cent interest from a regular customer in any tenure.
Jana Small Finance Bank is offering 8.15% interest to senior citizens
Jana Small Finance Bank has subsequently increased the interest rates offered on Fixed Deposits (FDs). The bank will now pay 7.35% for general citizens and 8.15% for senior citizens on FDs made for tenures ranging from 3 days to 5 years. Jana Small Finance Bank has also increased the interest rate on FDs for senior citizens by 80 basis points. The new increased rates of the bank will be effective from June 15.