North East Small Finance Bank (SFB) has announced interest rate revisions on fixed deposits, recurring deposits, and savings bank accounts amid the upward trend in interest rates. According to the bank’s official website, the new rates are in effect as of today, September 16, 2022. The bank is now providing a maximum rate of 7.75% on fixed deposits, 7.50% on recurring deposits, and 6.00% on savings accounts as a result of the modification.
North East Small Finance Bank (SFB) FD Rates
The bank is currently offering a 3.00% interest rate on fixed deposits maturing in 7 to 29 days and a 3.50% interest rate on term deposits maturing in 30 to 45 days. Fixed deposits with maturities between 46 and 90 days now pay 4.20% interest, and term deposits with maturities between 91 and 180 days now pay 4.75% interest. On fixed deposits maturing in 181 to 365 days, North East Small Finance Bank (SFB) will now offer an interest rate of 5.25%, and on deposits maturing in 366 to 776 days, the bank will now guarantee an interest rate of 7.00%.
On fixed deposits maturing in 777 days, the bank is now offering an interest rate of 7.50% and on term deposits maturing in 778 – 1095 days, the bank will now offer an interest rate of 7.00%. Fixed deposits maturing in 1096 – 1110 days will now fetch an interest rate of 6.50% and term deposits maturing in 1111 days will now fetch a maximum interest rate of 7.75%. North East Small Finance Bank (SFB) will now offer an interest rate of 6.50% on fixed deposits maturing in 1112-1825 days and the bank is now promising an interest rate of 6.25% on fixed deposits maturing in 1826 – 3650 days.
North East Small Finance Bank (SFB) RD Rates
Recurring deposits (RDs) are allowed by North East Small Finance Bank (SFB) for terms of three months to ten years. The bank currently offers an interest rate of 4.25% on RDs maturing in 3 months, and it will now provide an interest rate of 4.50% on RDs maturing in 6 months. The interest rate for RDs will now be 5.50% for those maturing in 9 months and 5.50% for those maturing in 1 year.
North East Small Finance Bank (SFB) has announced that it would give an interest rate of 7.50% on RDs maturing in 2 years, and a rate of 7.00% on RDs maturing in 3 years. The bank is currently providing an interest rate of 6.50% on RDs maturing in 5 years and an interest rate of 7.00% on RDs maturing in 4 years. RDs will now earn interest at a rate of 6.50% when they mature in more than 5 years and up to 10 years.
North East Small Finance Bank (SFB) Savings Account Interest Rates
On savings account balance of ₹0 – upto 4.99 Lacs, the bank is now offering an interest rate of 4.00% and on savings account balance of ₹5 Lacs – upto 25 Lacs the bank is now promising an interest rate of 5.00%. Savings account with balance slab of ₹25 lacs- upto 10 Crores will now fetch an interest rate of 5.50% and savings account with a balance slab of ₹10 Crores to 25 Crores will now fetch an interest rate of 5.75%. North East Small Finance Bank (SFB) will now offer an interest rate of 6.00% on savings account balances of ₹25 Crores and above.
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