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Suryoday Small Finance Bank FD Interest Rates (p.a.) Highlights |
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| Highest slab rate | 8.60% (for above 2 years to 3 years) |
| For 1 year | 8.05% |
| For 2 years | 8.50% |
| For 3 years | 8.60% |
| For 4 years | 6.75% |
| For 5 years | 8.25% |
| Tax-Saving FD | 8.25% |
The interest rates are updated as of 21 January 2025
Suryoday Small Finance Bank FD Interest Rates
Fixed Deposit Rates on Domestic deposits of less than Rs 3 crore w.e.f. 6 November 2024
| Tenure | Interest Rates (% p.a.) | |
| Regular Citizens | Senior Citizens | |
| 7 days to 14 days | 4.00 | 4.50 |
| 15 days to 45 days | 4.25 | 4.75 |
| 46 days to 90 days | 4.50 | 5.00 |
| 91 days to 6 months | 5.00 | 5.50 |
| 6 months 1 day | 7.25 | 7.75 |
| Above 6 months 1 day to 9 months | 5.50 | 6.00 |
| Above 9 months to less than 1 year | 6.00 | 6.50 |
| 1 year | 8.05 | 8.55 |
| Above 1 year to 15 months | 8.25 | 8.75 |
| Above 15 months to 2 years | 8.50 | 9.00 |
| Above 2 years to 3 years | 8.60 | 9.10 |
| Above 3 years to less than 5 years | 6.75 | 7.25 |
| 5 years | 8.25 | 8.75 |
| Above 5 years to 10 years | 7.25 | 7.75 |
Note: Only senior citizens who are resident Indians are eligible for additional interest rates (25-50 bps)
Suryoday Small Finance Bank Tax Saver Deposit
| Tenure | Interest Rates (% p.a.) | |
| Regular Citizens | Senior Citizens | |
| 5 years | 8.25 | 8.75 |
NRE Fixed Deposit Interest Rates of deposits less than Rs 3 crores w.e.f. 6 November 2024
| Tenure | Interest Rates (% p.a.) |
| 1 year | 8.05 |
| Above 1 year to 15 months | 8.25 |
| Above 15 months to 2 years | 8.50 |
| Above 2 years to 3 years | 8.60 |
| Above 3 years to less than 5 years | 6.75 |
| 5 years | 8.25 |
| Above 5 years to 10 years | 7.25 |
NRO Fixed Deposit Interest Rates of deposits less than Rs 3 crores w.e.f. 6 November 2024
| Tenure | Interest Rates (% p.a.) |
| 7 days to 14 days | 4.00 |
| 15 days to 45 days | 4.25 |
| 46 days to 90 days | 4.50 |
| 91 days to 6 months | 5.00 |
| 6 months 1 day | 7.25 |
| Above 6 months 1 day to 9 months | 5.50 |
| Above 9 months to less than 1 year | 6.00 |
| 1 year | 8.05 |
| Above 1 year to 15 months | 8.25 |
| Above 15 months to 2 years | 8.50 |
| Above 2 years to 3 years | 8.60 |
| Above 3 years to less than 5 years | 6.75 |
| 5 years | 8.25 |
| Above 5 years to 10 years | 7.25 |
Types of Suryoday Small Finance Bank FD Schemes
Regular Fixed Deposits
- Minimum deposit amount: Rs 1,000
- Tenure: 7 days to 10 years
- Auto-renewal facility is available
- Interest on FDs is calculated as below:
- Quarterly basis for deposits of duration above 6 months.
- Simple interest is paid at maturity for deposits of less than equal to 6 months.
- Cumulative interest/ re-investment interest is calculated every quarter
- Compounding of interest is available only in re-investment FDs
- In the case of the monthly interest pay-out option, the interest will be calculated for the quarter and paid monthly at a discounted rate over the standard fixed deposit rate
- Additional 0.50% interest rates are offered to senior citizen FD depositors
Tax Saver Fixed Deposits
- Deposit amount: Minimum- Rs. 1,000; Maximum-Rs. 1.5 lakhs in a financial year
- Tenure: 5 years (lock-in period)
- Monthly, quarterly and cumulative payout options are available
- Nomination facility is available
- Loan against fixed deposit and auto-renewal facility is not available
- The principal component of Tax Saver FDs of up to Rs 1.5 lakhs would qualify for income tax deduction under Section 80C, each financial year.
NRE Fixed Deposits
- Minimum deposit amount: Rs 10,000
- Tenure: 1 year to 10 years
- Interest Payout options – Monthly and Quarterly interest payout options
- Depositor also has the option to receive interest at maturity (cumulative)
- Nomination facility is available
NRO Fixed Deposits
- Minimum deposit amount: Rs 10,000
- Tenure: 7 days to 10 years
- Interest Payout options – Quarterly and Monthly interest payout options
- Depositor also has the option to receive interest at maturity (cumulative)
- Nomination facility is available
Premature Withdrawal of Fixed Deposits – Penal Charges
- Interest will be paid after deducting the penal rate (1%) from the applicable rate. The applicable rate would be lower of the following two conditions:
- The interest rate for the original or contracted tenure for which the FD has been booked (as of the date of booking the deposit)
- The interest rate for the actual duration for which the FD was in force with the bank (as of the date of booking the deposit)
- Premature withdrawal is not allowed in Tax Saver FDs
Suryoday FD Calculator
Planning your investment before investing makes it worth an investment. This is the idea behind an FD calculator. This is a tool that is available free of cost on Paisabazaar.com. Using this fixed deposit calculator, interested customers can have an idea of how much they will earn by putting their money in any of the FD schemes by Suryodaya Small Finance Bank.
To use the tool for returns on Suryoday fixed deposit schemes, the customer needs to enter FD amount, tenure (in years and/or months), and the corresponding FD rate from the list of current Suryoday Small Finance Bank FD rates. On submission, the calculator shall display the interest earned as well as the maturity amount.
FAQs
Q. What is the highest Suryoday Small Finance Bank FD rate currently?
Currently, Suryoday Small Finance Bank offers the highest FD interest rate of 8.60% p.a. to the general public and 9.10% p.a. for senior citizens FD depositors for a tenure of above 2 years to 3 years.
Q. Can I premature withdraw my tax saver FD?
No. Premature withdrawal is not allowed in a 5-year tax-saver FD.
Q. How to avoid TDS?
To avoid TDS, the depositor is required to submit Form 15G (15H for senior citizens). This form needs to be submitted, properly filled and duly signed, every financial year.
Q. I’ve lost my PAN card. How do I open a Suryoday Bank FD?
Those who are not able to furnish their PAN can still open a fixed deposit with Suryoday Bank by submitting a filled and signed Form 60/61.