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Home Business ESAF Small Finance Bank Introduces Special 999-Day FD, Interest up to 8.5%

ESAF Small Finance Bank Introduces Special 999-Day FD, Interest up to 8.5%

Last Updated: November 06, 2022, 11:45 IST

FDs with tenure of 15 to 59 days will be eligible for a 4.50 per cent interest rate.

This special FD plan can be availed for subscription till November 30

ESAF Small Finance Bank (ESAF SFB) has introduced a special 999- days fixed deposit scheme, offering an interest rate of up 8 per cent for the general public. Senior citizens will be eligible for an additional 0.50 per cent return rate. This special FD plan can be availed for subscription till November 30.

The bank has announced revisions stating that for fixed deposits, maturing in 7 to 14 days, it will be offering an interest rate of 4 per cent, in effect from November 1. FDs with tenure of 15 to 59 days will be eligible for a 4.50 per cent interest rate whereas deposits maturing in 15 to 59 days, will offer 5 per cent interest. A 5.25 per cent interest rate on fixed deposits that mature in 91 to 182 days will be offered.

The bank will offer an interest rate of 5.50 per cent on deposits with a tenure of 183 days to a year and 6.60 per cent for deposits maturing in 1 year and 1 day to less than 2 years. For fixed deposits maturing in 2 years to 998 days, they will now pay an interest rate of 7.25 per cent and 8 per cent interest rate on fixed deposits maturing in 999 days. Furthermore, deposits that mature in 1000 days or less than 3 years will have an interest rate of 7.25 per cent, and those with 3 years to less than 5 years of tenure will now earn 5.75 per cent interest. For fixed deposits with a tenure of 5 to 10 years will earn interest at a rate of 5.25 per cent.

Senior citizen FD account holders will be eligible for an additional 0.50 per cent interest over the bank’s usual rates. The rates are applicable for all deposits of Rs 2 crore or less.

ESAF SFB, on their official website, also mentioned that these interest rates are also applicable for new Resident term deposits and renewal of existing Resident term deposits.

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