AU Small Finance Bank has hiked interest rates on fixed deposit

Interest rates on fixed deposits under 2 crore rupees have increased at AU Small Finance Bank. The bank is now offering senior people a regular interest rate on term deposits maturing in 7 days to 120 months of 3.75 percent to 6.90 percent and 4.25 percent to 7.40 percent, respectively, as of today, June 24, 2022, with the new interest rates going into effect.

FD Rates for AU Small Finance Banks in 2022

The bank will continue to offer interest rates of 3.75 percent on deposits maturing in the next week to one month and fifteen days and 4.25 percent on deposits maturing in the next month and sixteen days to three months. While the interest rate on fixed deposits that mature in 6 months, 1 day to 12 months has increased from 5.25 percent to 5.35 percent, a 10 basis point increase, it will continue at 4.75 percent for term deposits that mature in 3 months, 1 day to 6 months.

On deposits maturing in 12 months, 1 day to 15 months, AU Small Finance Bank will now offer an interest rate of 6.60 percent, up from 6.50 percent, a 10 basis point increase. On deposits maturing in 15 months, 1 day to 24 months, the bank has increased the interest rate from 6.35 percent to 6.45 percent, a 10 basis point increase. A 15 basis point increase has been made to the interest rate on term deposits with maturities ranging from 24 months and a day to 36 months, rising from 6.75 percent to 6.90 percent.

Interest rates have increased by 55 basis points, or from 6.35 percent to 6.90 percent, for maturities ranging from one day to forty-five months. On deposits maturing in 45 months and one day to less than 60 months, the bank will now pay an interest rate of 6.45 percent, up from 6.35 percent previously. On term deposits maturing in 60 months to 120 months, the interest rate at AU Small Finance Bank has increased by 15 basis points, or bps, to 6.90 percent from 6.75 percent previously.

FD Rates For Senior Citizens At AU Small Finance Bank

Only resident senior citizen customers of AU Small Finance Bank will continue to get an additional rate of 0.50 percent over and above the standard rate on deposits across all tenors. Here are the updated senior citizen interest rates in force as of right now.

Rates for AU Small Finance Bank

The AU Small Finance Bank offers a recurrent deposit (RD) programme with maturities ranging from three months to one hundred and twenty months. The interest on deposits for recurring deposits is compounded at quarterly intervals, at the applicable rates, according to the bank's website. From the day the instalment is paid forward, the interest will be calculated.