Last Update: January 14, 2023, 12:48 pm IST
Recurring deposits from residents are also subject to the above interest rates.
Deposits maturing in 183 days to one year fetch 5.50% interest, while those maturing in one year, one day to less than two years fetch 7.25% interest.
ESAF Small Finance Bank (SFB) has increased interest rates on fixed deposits of less than Rs 2 crore. The new rates are effective from now, December 15, 2022, according to the bank’s official website. The revised interest rates are applicable to both new Resident Term Deposits and renewals of existing Resident Term Deposits. The bank currently offers interest rates on deposits maturing in 7 days to 10 years which vary from 4.00% to 5.25% for general public and 4.50% to 5.75% for senior citizens as a result of this move. ESAF Small Finance Bank (SFB) is offering maximum interest rate for deposits maturing in 999 days.
While ESAF Small Finance Bank (SFB) is offering a rate of 4.50% on deposits maturing in next 15 to 59 days, the bank offers a rate of 4.00% on deposits maturing in next 7 to 14 days . ESAF Small Finance Bank (SFB) is offering an interest rate of 5.00% on deposits maturing in 60 to 90 days, and the bank is promising an interest rate of 5.25% on deposits maturing in 91 to 182 days.
Deposits maturing in 183 days to one year fetch 5.50% interest, while those maturing in one year, one day to less than two years fetch 7.25% interest. The bank is offering an interest rate of 7.50% on deposits maturing in 2 years, 998 days, while ESAF SFB offers a maximum interest of 8.00% on deposits maturing in 999 days (2 years, 8 months and 25 days) offering rate.
Deposits maturing in 1000 days or less than three years will fetch an interest rate of 7.50%, while those maturing in three years or less than five years and those maturing in five years or more will fetch 5.75% And will get interest at the rate of 5.25%. %, respectively.
Recurring deposits from residents are also subject to the above interest rates. No interest will be charged if a resident fixed deposit is prematurely withdrawn before lapse of 7 days from the date of deposit.
On its website, ESAF Small Finance Bank states, “With effect from December 1, 2022, we will levy charges for failure to maintain monthly average balance for all NRE/NRO savings and current account categories. MAB grace period of three months is available for newly opened NRE/NRO savings and current accounts, after which charges as per schedule of charges will be applicable.
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