Up to 9.5% interest rate on senior citizen FDs: Fixed deposit rates of 5 banks compared

Many banks have started reducing interest rates on fixed deposits (FDs). However, several small finance banks still offer more than 9.5 per cent on certain FDs, especially to senior citizens. Banks usually offer a slightly higher interest rate on FDs to senior citizens. Depending on the bank, the additional interest rate could vary between 0.25 per cent and 1 per cent. Do note that this additional interest rate will be over and above the normal interest applicable to FDs.

Let's take a look at the small finance banks that offer up to 9.5 per cent interest rate on senior citizen FDs:

Jana Small Finance Bank FD rates for senior citizens
On senior citizen FDs, Jana Small Finance Bank offers interest rates between 3.50 per cent and 9 per cent for tenure ranging from seven days to 10 years. The interest rate for FDs maturing between two years and three years is 9 per cent in Jana Small Finance Bank. For FDs maturing between one and two years, the small finance bank offers an interest rate of 8.75 per cent. The rates are effective from August 15, 2023.


Unity Small Finance Bank FD rates for senior citizens
Unity Small Finance Bank offers interest rates between 4.50 per cent and 9.50 per cent for tenure ranging from seven days and 10 years. The highest interest rate will be 9.50 per cent and it is being offered on FDs maturing in 1001 days. Senior citizens can earn an interest rate of 9.25 per cent on FDs maturing in 501 days. For FDs mature between 6 months and 201 days, the bank offers an interest rate of 9.25 per cent to senior citizens. The rates are effective from August 11, 2023.

Fincare Small Finance Bank FD rates for senior citizens
On senior citizen FDs, Fincare Small Finance Bank offers interest rates between 3.60 per cent and 9.11 per cent for tenure ranging from seven days to 10 years. The highest interest rate of 9.11 per cent is being offered on 750 days tenure. The rates are effective from July 26, 2023.

Suryoday Small Finance Bank FD rates for senior citizens
On senior citizen FDs, Suryoday Small Finance Bank offers interest rates between 4.50 per cent and 9.10 per cent for tenure ranging from 7 days to 10 years. The highest interest rate of 9.10 per cent is being offered on FDs maturing between two and three years. The SFB offers an interest rate of 9 per cent on FDs maturing between 15 months and two years. The rates are effective from August 7, 2023.

ESAF Small Finance Bank FD rates for senior citizens
ESAF Small Finance Bank offers interest rates between 4.50 per cent and 9 per cent for tenure ranging from seven days to 10 years. The highest interest rate of 9 per cent is being offered on FDs maturing between two years and less than three years. The rates are effective from April 14, 2023.

FD interest rates of up to 9.5 per cent

Bank	Highest interest rate	Tenure
Jana SFB	9%	2 years to 3 years
Unity SFB	9.50%	1001 days
Fincare SFB	9.11%	750 days (Appx 2 years above )
Suryoday SFB	9.10%	2 years to 3 years
ESAF SFB	9%	2 years to less than 3 years

Do remember that deposits in deposits in small finance banks are also insured by the Deposit Insurance Credit Guarantee Corporation (DICGC) to the tune of Rs 5 lakh.