Himani Chowdhary Instagram – READ BELOW ⬇️
The FD rates are falling like crazy 🤯 because RBI has stopped increasing the Repo Rate which implies inflation is under control.
Already the Bigger Banks like SBI, HDFC and Canara Bank have decreased their rates to an avg of 7%.
By the end of the year, we will see FD Interest Rates near the 2021 levels.
But some banks mostly Small Finance Banks are still providing high FD Rates, so if you are planning to invest in FDs, do that now so that you still get to pick reasonably higher rates.
Check the list below 👇 (do read the entire thing)
SAVE & SHARE ✅
🔶 RBL
📍 1.5 -2 Years- 7.8%
📍2 Years- 7.8%
🔶 Suryoday SFB
📍 1 Year- 8.25%
📍 1.5 years- 8.5%
📍 2 years- 8.6%
📍 5 Years- 8.25%
🔶 Utkarsh SFB
📍1 Year- 8.5%
📍2 Years- 8.5%
📍5 Years- 7.5%
🔶 AU SFB
📍 1 Year- 7.75%
📍 2 Years- 8%
📍 2.5 Years (36 Months)- 7.75%
🔶 Ujjivan SFB-
📍1 Year- 8.25%
📍 1.5 Years- 8.25%
📍2 Years – 8.25%
🔶 Equitas SFB
📍 1 Year – 8.2%
📍 1.5 Years- 8.5%
📍 2.5 Years (888 Days) – 8.25%
🔶 Unity SFB
📍 Upto 1 Year- 8.75%
📍 1.5 Years (501 Days)- 8.75%
📍 3.1 Years (1001 Days) – 9%
👉 I haven’t share the FDs of NBFCs because those FDs don’t have the government insurance of 5 Lacs, which you can claim if the bank goes bust ❌
(if you still want to invest checkout Bajaj Finserv and Sriram Transport Finance)
👉 The only caveat is that you should know the insurance of 5 lacs include principal and interest so ideally try to invest less than 5 lacs per account so that you can also recover the interest.
👉 The returns for Senior Citizen is around 0.35-0.5% higher for all the FDs and the 5 Year Tax saving FDs have 0.3-0.5% lower returns than highest FD rate of the Bank
👉 Other than 5 year tax saving FD, TDS will be deducted from the interest payments | Posted on 03/Oct/2023 19:24:05
