AU Small Finance Bank (SFB) has hiked its interest rates on fixed deposits (FDs) of less than ₹2 Cr. After the modification, the bank currently offers interest rates on deposits maturing in 7 days to 120 months ranging from 3.75% to 7.20% for the general public and 4.25% to 7.70% for senior citizens. Deposits maturing in 24 months 1 day to 36 months will now receive a maximum interest rate of 8% for regular retail investors and 8.10% under the non-callable option. According to the bank’s website, these rates are applicable as of March 3, 2023.
AU SFB FD Rates
On fixed deposits maturing in 7 days to 1 month 15 days, the bank is offering an interest rate of 3.75% and on those maturing in 1 month 16 days to 3 months, AU Small Finance Bank (SFB) is now offering an interest rate of 4.25%. AU Small Finance Bank (SFB) is now offering an interest rate of 5.00% on a deposit tenor of 3 months 1 day to 6 months and an interest rate of 6.35% on a deposit tenor of 6 months 1 day to 12 months.
Deposits maturing in 12 months 1 day to 15 months will fetch an interest rate of 7.60% and those maturing in 15 months 1 day to 18 months will fetch an interest rate of 7.75%. Domestic term deposits maturing in 18 months 1 day to 24 months will now earn a 7.50% interest rate, while those maturing in 24 months 1 day to 36 months will earn an 8.00% interest rate. AU Small Finance Bank (SFB) promises an interest rate of 7.75% on deposits held for 36 months 1 day to 45 months and 7.20% on deposits held for 45 months 1 day to less than 120 months.
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AU Small Finance Bank (SFB) also allows non-callable deposit of ₹1 Cr to ₹2 Cr with higher rate of returns. Non-callable deposits are accounts that do not allow making premature withdrawals, hence on this type of deposits maturing in 12 months 1 day – 15 months, the bank is offering an interest rate of 7.70% and on those maturing in 15 months 1 day – 18 months, AU Small Finance Bank (SFB) is offering an interest rate of 7.85%. Non-callable deposits maturing in 18 months 1 day – 24 months will fetch an interest rate of 7.60% and those maturing in 24 months 1 day – 36 months will fetch an interest rate of 8.10%.
Senior citizens can earn additional rates ranging from 50 bps to 75 bps over and above the regular rates. “Only Resident Indian Senior Citizens (of 60 years of age and above) are eligible for the Senior Citizen Interest rate specified and the special rates are applicable only for Resident deposits,” AU Small Finance Bank (SFB) has mentioned on its website. According to the bank, the additional interest rates are exclusively available to resident Indian senior citizen customers who have a banking relationship with AU Small Finance Bank.
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