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List of 6 small Finance Banks that Offers Highest Interest Rate on FDs to Senior Citizens

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Unity Small Finance Bank: 

On FDs of 1001 days, Unity Small Finance Bank is offering interest rates of 9.00 per cent to the general public and 9.50 to senior citizens. The new rates are effective from February 15, 2023.

Jana Small Finance Bank: 

On FDs of over two to three years, Jana Small Finance Bank is offering interest rates of 8.10 per cent to the general public and 8.80 per cent to senior citizens. The new rates are effective from February 1, 2023.

Suryoday Small Finance Bank: 

On FDs of 999 days, Suryoday Small Finance Bank is offering interest rates of 8.51 per cent to the general public and 8.76 per cent to senior citizens. These rates are effective from December 21, 2022.

Ujjivan Small Finance Bank: 

On FDs of 560 days, Ujjivan Small Finance bank is offering interest rates of 8.00 per cent to the general public and 8.75 per cent to senior citizens. The new rates are effective from November 5, 2022.

Utkarsh Small Finance Bank: 

On FDs of 700 days, Utkarsh Small Finance Bank is offering interest rates of 8.00 per cent to the general public and 8.75 per cent to senior citizens. These rates are effective from November 21, 2022.

North East Small Finance Bank: 

On FDs of 111 days, North East Small Finance Bank is offering interest rates of 8.00 per cent to the general public and 8.75 per cent to senior citizens.

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Talk-Of-The-Town Talk-Of-The-Town
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Equitas 888 days 8.20% w.e.f. 1st March 
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Ujjivan online account open not working.

Without account max FD of 90k only possible

Unity online process not understandable. They are taking your contact and basic details on Google forms sweat_smile and saying we'll call back.

Deal Cadet Deal Cadet
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Ujjivan sounds the best. It has zero MAB and zero debit card AMC for the senior citizen savings account. Also offers monthly, quarterly, and annual payout. Good for a regular income stream without any charges. But alas the online account opening isn't working as you mentioned and there is no branch in my town.

Does any other bank offer >8% interest with a payout option for senior citizen fd that can be availed without paying useless debit card AMC charges or AMB or similar charges? I'm looking for something like that for my father who is a senior citizen.
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Nice thread vu+

Benevolent Benevolent
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North East Small Finance Bank: 
On FDs of 111 1111 days, North East Small Finance Bank is offering interest rates of 8.00 per cent to the general public and 8.75 per cent to senior citizens

Super Stud Super Stud
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Small Finance Bank Tenure of FD Interest Rate for General Public Interest Rate for Senior Citizens Effective Date
Unity Small Finance Bank 1001 days 9.00% 9.50% February 15, 2023
Jana Small Finance Bank 2-3 years 8.10% 8.80% February 1, 2023
Suryoday Small Finance Bank 999 days 8.51% 8.76% December 21, 2022
Ujjivan Small Finance Bank 560 days 8.00% 8.75% November 5, 2022
Utkarsh Small Finance Bank 700 days 8.00% 8.75% November 21, 2022
North East Small Finance Bank 111 days 8.00% 8.75% N/A
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Jana bank has charges on NEFT, RTGS, IMPS all 3 sad No charges online

But debit card charges are there. Cannot find virtual DC option

Super Stud Super Stud
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Can you add the details about banks which can be opened online?

Use/Edit the table added above.

Deal Cadet Deal Cadet
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Utkarsh went up to 9% for Seniors - https://www.utkarsh.bank/uploads/home_sidebar_f...

Do they allow FD without Savings Account ?

Deal Hunter Deal Hunter
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Yes 

Benevolent Benevolent
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bandhan 8.5% for 600days 

Deal Cadet Deal Cadet
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Regular or Seniors ?
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Tech Guru Tech Guru
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source - livemint

Like Magnet Like Magnet
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Utkarsh small finance bank is now offering 8.25% for 700 days.

Like Magnet Like Magnet
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Which small finance bank safest from above?

I am planning to do fd in equitas..Any issue in this bank?

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+1.. Can anyone tell me the safest out of these banks?

Super Stud Super Stud
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Please help on which banks can be opened online

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TMB giving 8.5% for senior citizens for 300 days..Can be opened online.

https://www.livemint.com/money/personal-finance...
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How are the reviews about Jana small finance Bank?

Min balance

App/netbanking experience

Extra charges on tranfers or others

Deal Cadet Deal Cadet
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ESAF BM saying cannot give FD without SB.. can anyone confirm this?

Talk-Of-The-Town Talk-Of-The-Town
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All banks are same till u keep 5Lakhs. I chose Equitas.
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Deal Lieutenant Deal Lieutenant
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How safe are these banks when it comes to FD? What are RBI guidelines for FDs or it comes under 5L insurance?

Also what happens if you break FD say after 2 years or lesser period than originally planned ?

Deal Cadet Deal Cadet
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Are small finance banks covered under Deposit Insurance?

All commercial banks, including branches of foreign banks functioning in India, local area banks, regional rural banks, small finance banks and payment banks, are covered under the Deposit Insurance Scheme.


Finance Mentor Finance Mentor
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Guys any idea about Suryoday Small Finance Bank.

https://www.suryodaybank.com/deposits/fixed-dep...

9.10% for non seniors 5 years .

I saw this small finance bank is backed by dicgc insurance too.
https://www.dicgc.org.in/FD_ListOfInsuredBank...ml

Also can we close accounts of such small finance banks without branch visits?

Never have any experience of opening FD without a savings account. How does it work if I don't open an acc and yet have FD.

Looking for suggestions
@raman12 @dhinchakrohit @InvestPotato

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I went for Jana small finance Bank. Experience was good, took 1 week tmfor debit card which was mandatory and without which no transaction could be done, only limited access. Branch I was not given which I wanted but another one in different district but I am told I can transfer whenever I want by going to new branch that I want.
No exp with suryodaya bank but it should be okay if it's nearby your home
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