This bank increased the interest rate
RBI has increased the repo rate. After this, many banks including SBI, HDFC have increased the interest rates of their savings, fixed deposits and RD. ESAF Small Finance Bank (SFB) has increased the interest rates on deposits below Rs 2 crore. According to the official website of the bank, the new interest rates have come into effect from February 15, 2023. The bank is offering an interest rate of 8.10% for non-senior citizens and 8.60% for senior citizens on a tenure of 999 days.
The new slab is something like this
The bank offers an interest rate of 4.00% on term deposits maturing in 7 to 14 days, 4.50% interest rate on deposits maturing in 15 to 59 days, 5.00% interest rate on deposits maturing in 60 to 90 days and Is offering an interest rate of 5.25% on deposits of 91 to 182 days duration.
At the same time, the bank will now offer an interest rate of 6.00% on deposits with maturity between 183 and 1 year, 7.75 percent on deposits with maturity of 1 year and 1 day and less than 2 years, 2 years to less than 3 years. Offering an interest rate of 8.00% on Fixed Deposits, maturing in 3 years to less than 5 years, an interest rate of 5.75% is being offered. Is offering an interest rate of 5.25% for a deposit period of 5 years to 10 years and 8.10% for a deposit period of 999 days (2 years 8 months and 26 days).
