Suryoday Small Finance Bank (SSFB) has revised interest rates on fixed deposits with effect from March 01, 2024. In a statement, the bank said it has revised Fixed Deposit interest rates in 25 months tenor by 41 basis points (bps). 

Following the revision, the SSFB is now accepting deposits of less than Rs 2 crore maturing in 7 days to 10 years at an interest rate of 4.00 percent to 9.01 percent to the general public and 4.50 percent to 9.25 percent for senior citizens. 

Regular customers of SSFB can now get 9.01 percent interest rate on a 25 months deposit, while senior citizens can get 9.25 percent interest rate. 

SSFB is also offering interest rate up to 7.75 percent to its savings account customers in above Rs. 5 Crore up to Rs. 25 Crore slab. This is the highest interest rate that the bank offers to its customers. 

Tenors with interest above 9%

• SSFB is now offering 8.6% interest rate to regular customers on fixed deposits of 2 years 3 Days upto less than 25 Months. Senior citizens can get 9.10% interest on deposits of this tenure. 
• The bank is offering 9.01% interest rate to regular customers on deposits of 2 years 1 month (25 months). Senior citizens can get 9.25% interest on deposits of this tenure. 
• On deposits of more than 25 months up to 3 years, SSFB is offering 8.6% interest to regular customers and 9.1% to senior citizens. 
• On Recurring Deposits of 18 months to 36 months, SSFB is offering 9.1% interest to senior citizens. 

Fixed Deposits in SSFB are backed by DICGC, which provides a cover for up to Rs 5 lakh (including principal and interest amounts).