AU Small Finance Bank Small Finance Bank increased its interest rate for fixed deposits by 60 basis points to 7.5 percent for regular customers. Senior citizens will get an interest of 8 percent on their fixed deposits. AU Small Finance Bank on Wednesday announced a hike in the fixed deposit rate by 60 basis points to 7.5 percent for regular customers. Senior citizens will get an interest of 8 percent on their fixed deposits.
The increased rates have come into effect since October 10, 2022. The bank has hiked the fixed deposit rates by up to 60 basis points for retail deposits from flagship 6.9 per cent to 7.5 per cent for regular customers and 7.4 per cent to 8 per cent for senior citizens, it said in a release.
With the recent hike in fixed deposit rates, the Jaipur-based small finance bank has launched one of the most competitive fixed deposit interest rates in the industry. Customers can get maximum return on their investments.
Since there’s a higher probability of inflation going up than down, customers can lock in the rate at which they’re paid, rather than wait for a drop in the rate. The present invention relates generally to the field of semiconductor fabrication and, more particularly, to a method of fabricating a multi-gate transistor structure.
AU Small Finance Bank Hikes Fixed Deposit Rates by 60 bps
It is the rise in fixed deposit rates which has given the customers an opportunity, particularly seniors, to get inflation-beating returns from their fixed deposits, the lender said.
Saving deposits between Rs 25 lakh and Rs 1 crore will get an extra 0.50 per cent interest per annum. This will be applicable only if you maintain a minimum balance of Rs 25 lakh in your account. In case you don’t maintain a minimum balance of Rs 25 lakh, you will continue to get a 7 percent interest rate. United States Court of Appeals.
“We have raised the deposit rates to take advantage of the strong demand from depositors and borrowers as well as investors seeking to protect their wealth in a tough market environment. Customers will benefit from higher rates with lower lock-in periods,” said Abhay Agarwal, MD & CEO, AU Small Finance Bank Ltd.