ESAF Small Finance Bank Revises Interest Rates On Fixed Deposit
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Investment
oi-Vipul Das
Fixed deposit rates at ESAF Small Finance Bank are higher than savings account rates. The bank has recently revised fixed deposit (FD) interest rates, which are in force from May 2, 2021. The rate of interest on FDs for regular citizens varies from 4.00 percent to 6.5 percent after the most recent adjustment, for terms ranging from 7 days to 10 years. Senior citizens also get an extra 0.5 percent on their ESAF Small Finance term deposits, which have interest rates ranging from 4.5 percent to 7%. For a regular investor, the highest interest rate on an ESAF Bank FD is 6.5 percent for a period ranging from 365 days & 366 days, whereas the highest interest rate for senior citizens is 7% for the same period. The Deposit Insurance Scheme of the RBI insures all bank FDs. In addition, the insurance covers up to INR 5 lakhs. As a result, ESAF Small Finance Bank FD can be a good bet here. Fixed Deposits are interest-bearing investments that promise a guaranteed and risk-free return. As a result, investors can think about investing in an ESAF Small Finance Bank FD. Below are the updated ESAF Small Finance Bank FD interest rates.
ESAF Small Finance Bank FD Rates
| Tenure | Regular FD Rates | Senior Citizen FD Rates |
|---|---|---|
| 7 days to 14 days | 4.00% | 4.50% |
| 15 days to 59 days | 4.50% | 5.00% |
| 60 days to 90 days | 5.25% | 5.75% |
| 91 days to 181 days | 5.50% | 6.00% |
| 182 days | 5.00% | 5.50% |
| 183 days to 363 days | 6.00% | 6.50% |
| 364 days | 5.25% | 5.75% |
| 365 days & 366 days | 6.50% | 7.00% |
| 367 days to 545 days | 6.25% | 6.75% |
| 546 days | 5.00% | 5.50% |
| 547 days to 727 days | 6.25% | 6.75% |
| 728 days | 5.25% | 5.75% |
| 729 days to 909 days | 6.00% | 6.50% |
| 910 days | 5.25% | 5.75% |
| 911 days to 1091 days | 6.00% | 6.50% |
| 1092 days | 5.25% | 5.75% |
| 1093 days to 1273 days | 5.75% | 6.25% |
| 1275 -1455 days | 5.25% | 5.75% |
| 1275 days -1455 days | 5.75% | 6.25% |
| 1456 days | 5.25% | 5.75% |
| 1457 days-1637 days | 5.75% | 6.25% |
| 1638 days | 5.25% | 5.75% |
| 1639 days-1819 days | 5.75% | 6.25% |
| 1820 days | 5.25% | 5.75% |
| 1821 days to 3653 days | 5.25% | 5.75% |
| Source: Bank Website |
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