{"id":9487,"date":"2020-02-08T10:08:00","date_gmt":"2020-02-08T04:38:00","guid":{"rendered":"https:\/\/www.apnaplan.com\/?p=9487"},"modified":"2021-04-11T20:30:30","modified_gmt":"2021-04-11T15:00:30","slug":"fd-interest-rates-small-bank","status":"publish","type":"post","link":"https:\/\/www.apnaplan.com\/fd-interest-rates-small-bank\/","title":{"rendered":"Get up to 9% in Small Bank FDs (9.5% for Senior Citizens) &#8211; February 2020"},"content":{"rendered":"<p style=\"text-align: justify;\">RBI on September 2015 had granted licence to 10 Small Finance Banks. Lately t<strong>hese banks have been in news for offering higher interest rates on their fixed deposits as compared to regular banks<\/strong>. In this post we would tell you whats on offer by small banks and if you should invest and bank with them!<\/p>\n<h2 style=\"text-align: justify;\">Small Banks Fixed Deposit Interest Rates:<\/h2>\n<p style=\"text-align: justify;\">The table below compares the interest rate offered by Small banks to that of SBI. The difference is substantial for mid-tenure deposits.<\/p>\n<table width=\"673\">\n<tbody>\n<tr>\n<td width=\"201\"><strong>\u00a0Banks\u00a0<\/strong><\/td>\n<td style=\"text-align: center;\" width=\"64\"><strong>&lt;1 year<\/strong><\/td>\n<td style=\"text-align: center;\" width=\"64\"><strong>1 Year<\/strong><\/td>\n<td style=\"text-align: center;\" width=\"64\"><strong>2 Years<\/strong><\/td>\n<td style=\"text-align: center;\" width=\"64\"><strong>3 Years<\/strong><\/td>\n<td style=\"text-align: center;\" width=\"64\"><strong>4 Years<\/strong><\/td>\n<td style=\"text-align: center;\" width=\"67\"><strong>5 Years<\/strong><\/td>\n<td style=\"text-align: center;\" width=\"85\"><strong>5 Year+<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>AU Small Finance Bank\u00a0<\/strong><\/td>\n<td style=\"text-align: center;\">7.00%<\/td>\n<td style=\"text-align: center;\">7.63%<\/td>\n<td style=\"text-align: center;\">7.77%<\/td>\n<td style=\"text-align: center;\">7.77%<\/td>\n<td style=\"text-align: center;\">7.50%<\/td>\n<td style=\"text-align: center;\">7.50%<\/td>\n<td style=\"text-align: center;\">7.25%<\/td>\n<\/tr>\n<tr>\n<td><strong>Capital Small Finance Bank\u00a0<\/strong><\/td>\n<td style=\"text-align: center;\">6.25%<\/td>\n<td style=\"text-align: center;\">6.90%<\/td>\n<td style=\"text-align: center;\">6.90%<\/td>\n<td style=\"text-align: center;\">6.90%<\/td>\n<td style=\"text-align: center;\">6.90%<\/td>\n<td style=\"text-align: center;\">6.80%<\/td>\n<td style=\"text-align: center;\">6.80%<\/td>\n<\/tr>\n<tr>\n<td><strong>Equitas Small Finance Bank<\/strong><\/td>\n<td style=\"text-align: center;\">7.50%<\/td>\n<td style=\"text-align: center;\">8.00%<\/td>\n<td style=\"text-align: center;\">7.80%<\/td>\n<td style=\"text-align: center;\">7.80%<\/td>\n<td style=\"text-align: center;\">7.00%<\/td>\n<td style=\"text-align: center;\">7.00%<\/td>\n<td style=\"text-align: center;\">7.00%<\/td>\n<\/tr>\n<tr>\n<td><strong>ESAF Small Finance Bank\u00a0<\/strong><\/td>\n<td style=\"text-align: center;\">7.50%<\/td>\n<td style=\"text-align: center;\">8.00%<\/td>\n<td style=\"text-align: center;\">8.00%<\/td>\n<td style=\"text-align: center;\">7.75%<\/td>\n<td style=\"text-align: center;\">7.30%<\/td>\n<td style=\"text-align: center;\">7.30%<\/td>\n<td style=\"text-align: center;\">7.30%<\/td>\n<\/tr>\n<tr>\n<td><strong>Fincare Small Finance Bank\u00a0<\/strong><\/td>\n<td style=\"text-align: center;\">7.00%<\/td>\n<td style=\"text-align: center;\">8.00%<\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">8.50%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">9.00%<\/span><\/td>\n<td style=\"text-align: center;\">8.00%<\/td>\n<td style=\"text-align: center;\">8.00%<\/td>\n<td style=\"text-align: center;\">7.00%<\/td>\n<\/tr>\n<tr>\n<td><strong>Jana Small Finance Bank<\/strong><\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">8.25%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">8.25%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">8.25%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">8.25%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">8.25%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">8.25%<\/span><\/td>\n<td style=\"text-align: center;\">7.00%<\/td>\n<\/tr>\n<tr>\n<td><strong>Suryoday Small Finance Bank\u00a0<\/strong><\/td>\n<td style=\"text-align: center;\">7.75%<\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">8.25%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">8.50%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">8.50%<\/span><\/td>\n<td style=\"text-align: center;\">8.00%<\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">9.00%<\/span><\/td>\n<td style=\"text-align: center;\">7.25%<\/td>\n<\/tr>\n<tr>\n<td><strong>Ujjivan Small Finance Bank<\/strong><\/td>\n<td style=\"text-align: center;\">7.00%<\/td>\n<td style=\"text-align: center;\">8.00%<\/td>\n<td style=\"text-align: center;\">8.00%<\/td>\n<td style=\"text-align: center;\">7.50%<\/td>\n<td style=\"text-align: center;\">7.00%<\/td>\n<td style=\"text-align: center;\">7.00%<\/td>\n<td style=\"text-align: center;\">6.50%<\/td>\n<\/tr>\n<tr>\n<td><strong>Utkarsh Small Finance Bank<\/strong><\/td>\n<td style=\"text-align: center;\">7.25%<\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">8.20%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">8.50%<\/span><\/td>\n<td style=\"text-align: center;\">8.00%<\/td>\n<td style=\"text-align: center;\">8.00%<\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">8.35%<\/span><\/td>\n<td style=\"text-align: center;\">7.75%<\/td>\n<\/tr>\n<tr>\n<td><strong>SBI<\/strong><\/td>\n<td style=\"text-align: center;\"><strong>5.50%<\/strong><\/td>\n<td style=\"text-align: center;\"><strong>6.00%<\/strong><\/td>\n<td style=\"text-align: center;\"><strong>6.00%<\/strong><\/td>\n<td style=\"text-align: center;\"><strong>6.00%<\/strong><\/td>\n<td style=\"text-align: center;\"><strong>6.00%<\/strong><\/td>\n<td style=\"text-align: center;\"><strong>6.00%<\/strong><\/td>\n<td style=\"text-align: center;\"><strong>6.00%<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"text-align: justify;\"><strong>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0<\/strong><span style=\"text-decoration: underline;\"><strong>Updated:<\/strong><\/span><strong> February 8, 2020<\/strong><strong>\u00a0<\/strong><\/p>\n<blockquote><p><strong>Also Read:<\/strong>\u00a0<a href=\"https:\/\/www.apnaplan.com\/highest-interest-rate-on-bank-fixed-deposits-fd\/\">Highest Interest Rate on Bank Fixed Deposits<\/a><\/p><\/blockquote>\n<h2 style=\"text-align: justify;\">Small Banks FD Interest Rates for Senior Citizens:<\/h2>\n<p><span style=\"text-decoration: underline;\"><strong>Additional Interest to Senior Citizens:<\/strong><\/span><\/p>\n<ul>\n<li>Equitas Small Finance Bank &amp; Jana Small Bank offers additional 0.60% for Senior citizens.<\/li>\n<li>All other small banks offer additional 0.5% to senior citizens.<\/li>\n<\/ul>\n<table width=\"673\">\n<tbody>\n<tr>\n<td width=\"201\"><strong>\u00a0Banks\u00a0<\/strong><\/td>\n<td style=\"text-align: center;\" width=\"64\"><strong>&lt;1 year<\/strong><\/td>\n<td style=\"text-align: center;\" width=\"64\"><strong>1 Year<\/strong><\/td>\n<td style=\"text-align: center;\" width=\"64\"><strong>2 Years<\/strong><\/td>\n<td style=\"text-align: center;\" width=\"64\"><strong>3 Years<\/strong><\/td>\n<td style=\"text-align: center;\" width=\"64\"><strong>4 Years<\/strong><\/td>\n<td style=\"text-align: center;\" width=\"67\"><strong>5 Years<\/strong><\/td>\n<td style=\"text-align: center;\" width=\"85\"><strong>5 Year+<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>AU Small Finance Bank\u00a0<\/strong><\/td>\n<td style=\"text-align: center;\">7.50%<\/td>\n<td style=\"text-align: center;\">8.13%<\/td>\n<td style=\"text-align: center;\">8.27%<\/td>\n<td style=\"text-align: center;\">8.27%<\/td>\n<td style=\"text-align: center;\">8.00%<\/td>\n<td style=\"text-align: center;\">8.00%<\/td>\n<td style=\"text-align: center;\">7.75%<\/td>\n<\/tr>\n<tr>\n<td><strong>Capital Small Finance Bank\u00a0<\/strong><\/td>\n<td style=\"text-align: center;\">6.75%<\/td>\n<td style=\"text-align: center;\">7.40%<\/td>\n<td style=\"text-align: center;\">7.40%<\/td>\n<td style=\"text-align: center;\">7.40%<\/td>\n<td style=\"text-align: center;\">7.40%<\/td>\n<td style=\"text-align: center;\">7.30%<\/td>\n<td style=\"text-align: center;\">7.30%<\/td>\n<\/tr>\n<tr>\n<td><strong>Equitas Small Finance Bank<\/strong><\/td>\n<td style=\"text-align: center;\">8.00%<\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">8.50%<\/span><\/td>\n<td style=\"text-align: center;\">8.30%<\/td>\n<td style=\"text-align: center;\">8.30%<\/td>\n<td style=\"text-align: center;\">7.50%<\/td>\n<td style=\"text-align: center;\">7.50%<\/td>\n<td style=\"text-align: center;\">7.50%<\/td>\n<\/tr>\n<tr>\n<td><strong>ESAF Small Finance Bank\u00a0<\/strong><\/td>\n<td style=\"text-align: center;\">8.00%<\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">8.50%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">8.50%<\/span><\/td>\n<td style=\"text-align: center;\">8.25%<\/td>\n<td style=\"text-align: center;\">7.80%<\/td>\n<td style=\"text-align: center;\">7.80%<\/td>\n<td style=\"text-align: center;\">7.80%<\/td>\n<\/tr>\n<tr>\n<td><strong>Fincare Small Finance Bank\u00a0<\/strong><\/td>\n<td style=\"text-align: center;\">7.50%<\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">8.50%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">9.00%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">9.50%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">8.50%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">8.50%<\/span><\/td>\n<td style=\"text-align: center;\">7.50%<\/td>\n<\/tr>\n<tr>\n<td><strong>Jana Small Finance Bank<\/strong><\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">8.85%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">8.85%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">8.85%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">8.85%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">8.85%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">8.85%<\/span><\/td>\n<td style=\"text-align: center;\">7.60%<\/td>\n<\/tr>\n<tr>\n<td><strong>Suryoday Small Finance Bank\u00a0<\/strong><\/td>\n<td style=\"text-align: center;\">8.25%<\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">8.75%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">9.00%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">9.00%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">8.50%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">9.25%<\/span><\/td>\n<td style=\"text-align: center;\">7.75%<\/td>\n<\/tr>\n<tr>\n<td><strong>Ujjivan Small Finance Bank<\/strong><\/td>\n<td style=\"text-align: center;\">7.50%<\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">8.50%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">8.50%<\/span><\/td>\n<td style=\"text-align: center;\">8.00%<\/td>\n<td style=\"text-align: center;\">7.50%<\/td>\n<td style=\"text-align: center;\">7.50%<\/td>\n<td style=\"text-align: center;\">7.00%<\/td>\n<\/tr>\n<tr>\n<td><strong>Utkarsh Small Finance Bank<\/strong><\/td>\n<td style=\"text-align: center;\">7.75%<\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">8.70%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">9.00%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">8.50%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">8.50%<\/span><\/td>\n<td style=\"text-align: center;\"><span style=\"background-color: #ffcc00;\">8.85%<\/span><\/td>\n<td style=\"text-align: center;\">8.25%<\/td>\n<\/tr>\n<tr>\n<td><strong>SBI<\/strong><\/td>\n<td style=\"text-align: center;\"><strong>6.00%<\/strong><\/td>\n<td style=\"text-align: center;\"><strong>6.50%<\/strong><\/td>\n<td style=\"text-align: center;\"><strong>6.50%<\/strong><\/td>\n<td style=\"text-align: center;\"><strong>6.50%<\/strong><\/td>\n<td style=\"text-align: center;\"><strong>6.50%<\/strong><\/td>\n<td style=\"text-align: center;\"><strong>6.50%<\/strong><\/td>\n<td style=\"text-align: center;\"><strong>6.50%<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong style=\"-webkit-text-stroke: 0.15px;\">Source:<\/strong><span style=\"-webkit-text-stroke: 0.15px;\"> Bank Websites \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 <\/span><strong style=\"-webkit-text-stroke: 0.15px;\">Last Updated: February 8, 2020<\/strong><img loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-9622\" style=\"font-size: inherit;\" src=\"https:\/\/www.apnaplan.com\/wp-content\/uploads\/2018\/08\/Invest-in-Small-Banks-Fixed-Deposits-1024x613.png\" alt=\"Invest in Small Banks Fixed Deposits\" width=\"757\" height=\"453\" title=\"\" srcset=\"https:\/\/www.apnaplan.com\/wp-content\/uploads\/2018\/08\/Invest-in-Small-Banks-Fixed-Deposits-1024x613.png 1024w, https:\/\/www.apnaplan.com\/wp-content\/uploads\/2018\/08\/Invest-in-Small-Banks-Fixed-Deposits-300x180.png 300w, https:\/\/www.apnaplan.com\/wp-content\/uploads\/2018\/08\/Invest-in-Small-Banks-Fixed-Deposits-768x460.png 768w, https:\/\/www.apnaplan.com\/wp-content\/uploads\/2018\/08\/Invest-in-Small-Banks-Fixed-Deposits.png 1143w\" sizes=\"(max-width: 757px) 100vw, 757px\" \/><\/p>\n<p><strong>Invest in Small Banks Fixed Deposits<\/strong><\/p>\n<blockquote>\n<h3><span style=\"text-decoration: underline;\">Helpful Posts on Fixed Deposits<\/span><\/h3>\n<p><a href=\"https:\/\/www.apnaplan.com\/highest-interest-rate-on-bank-fixed-deposits-fd\/\">Which bank offers Highest Interest Rate on Bank FD?<\/a><\/p>\n<p><a href=\"https:\/\/www.apnaplan.com\/invest-fixed-deposits\/\">13 Most Important things to know before investing in Bank Fixed Deposits<\/a><\/p>\n<p><a href=\"https:\/\/www.apnaplan.com\/sec-80ttb\/\">Section 80TTB: Senior Citizens can Save Tax on their Interest Income<\/a><\/p>\n<p><a href=\"https:\/\/www.apnaplan.com\/budget-2019-key-changes-income-tax-rules\/\">TDS threshold on Bank FD increased to Rs 40,000 from April 1, 2019\u00a0<\/a><\/p>\n<p><a href=\"https:\/\/www.apnaplan.com\/how-fill-form-15g-15h\/\">Avoid TDS: fill Form 15G and 15H<\/a><\/p>\n<p><a href=\"https:\/\/www.apnaplan.com\/fd-interest-rates-small-bank\/\">Small Bank FDs offer interest up to 9% &#8211; Should you invest?<\/a><\/p>\n<p><a href=\"http:\/\/www.apnaplan.com\/swp-debt-mutual-funds\/\">How SWP in Debt Funds generate higher returns than FD<\/a><\/p>\n<p><a href=\"http:\/\/www.apnaplan.com\/bank-deposit-insurance\/\">How to increase bank deposit insurance through Joint accounts?<\/a><\/p>\n<p><a href=\"http:\/\/www.apnaplan.com\/how-safe-is-your-bank-fixed-deposit\/\"><span style=\"-webkit-text-stroke-color: initial; -webkit-text-stroke-width: 0.15px;\">How Safe is Your Fixed Deposit in Bank?<\/span><\/a><\/p>\n<p><a href=\"http:\/\/www.apnaplan.com\/how-are-you-losing-money-by-investing-in-fixed-deposits\/\"><span style=\"-webkit-text-stroke-color: initial; -webkit-text-stroke-width: 0.15px;\">How you loose Money in Fixed Deposits?<\/span><\/a><\/p>\n<p><a href=\"https:\/\/www.apnaplan.com\/highest-tax-saving-bank-fixed-deposit-rates-us-80c\/\">Fixed Deposits that you can use to save Tax\u00a0<\/a><\/p>\n<p><a href=\"https:\/\/www.apnaplan.com\/best-nre-fd-rates\/\">Fixed Deposits for NRIs<\/a><\/p>\n<p><a href=\"https:\/\/www.apnaplan.com\/highest-interest-rate-on-recurring-deposits-rd\/\">Highest Interest Rate on Recurring Deposits<\/a><\/p>\n<p><a href=\"https:\/\/www.apnaplan.com\/fixed-deposits-power-of-compounding-interest-rate-frequency-and-yield\/\">Understanding Compounding and Yield in Fixed Deposit<\/a><\/p>\n<p><a href=\"https:\/\/www.apnaplan.com\/credit-card-against-fixed-deposit\/\">How to get\u00a0Credit card against Fixed Deposit?<\/a><\/p>\n<p><a href=\"http:\/\/www.apnaplan.com\/company-fixed-deposit\/\">7 High Rated Companies Offering more than Bank Fixed Deposits<\/a><\/p>\n<p><a href=\"https:\/\/www.apnaplan.com\/post-office-fd-interest\/\">All about Post Office FD Schemes<\/a><\/p><\/blockquote>\n<h2 style=\"text-align: justify;\">Small Banks\u00a0Savings Account:<\/h2>\n<p style=\"text-align: justify;\">Most regular banks offer 3.5% interest on their savings account. However most small banks are offering interest up to 7.25%.\u00a0<strong>Suryoday Small Finance Bank is offering 6.25% for balance up to Rs 1 Lakh and 7.25% for balance up to Rs 10 Lakh.<\/strong> Below is the list of offering:<\/p>\n<table>\n<tbody>\n<tr>\n<td><strong>Banks<\/strong><\/td>\n<td style=\"text-align: center;\"><strong>up to 1 Lakh<\/strong><\/td>\n<td style=\"text-align: center;\"><strong>1 &#8211; 5 Lakh<\/strong><\/td>\n<td style=\"text-align: center;\"><strong>5 &#8211; 10 Lakh<\/strong><\/td>\n<td style=\"text-align: center;\"><strong>10 Lakh +<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>AU Small Finance Bank<\/strong><\/td>\n<td style=\"text-align: center;\">5.00%<\/td>\n<td style=\"text-align: center;\">6.50%<\/td>\n<td style=\"text-align: center;\">6.50%<\/td>\n<td style=\"text-align: center;\">6.75%<\/td>\n<\/tr>\n<tr>\n<td><strong>Capital Small Finance Bank<\/strong><\/td>\n<td style=\"text-align: center;\">4.00%<\/td>\n<td style=\"text-align: center;\">4.00%<\/td>\n<td style=\"text-align: center;\">4.00%<\/td>\n<td style=\"text-align: center;\">4.00%<\/td>\n<\/tr>\n<tr>\n<td><strong>Equitas Small Finance Bank<\/strong><\/td>\n<td style=\"text-align: center;\">6.00%<\/td>\n<td style=\"text-align: center;\">6.00%<\/td>\n<td style=\"text-align: center;\">6.00%<\/td>\n<td style=\"text-align: center;\">6.50%<\/td>\n<\/tr>\n<tr>\n<td><strong>ESAF Small Finance Bank<\/strong><\/td>\n<td style=\"text-align: center;\">4.00%<\/td>\n<td style=\"text-align: center;\">6.50%<\/td>\n<td style=\"text-align: center;\">6.50%<\/td>\n<td style=\"text-align: center;\">7.00%<\/td>\n<\/tr>\n<tr>\n<td><strong>Fincare Small Finance Bank<\/strong><\/td>\n<td style=\"text-align: center;\">6.00%<\/td>\n<td style=\"text-align: center;\">7.00%<\/td>\n<td style=\"text-align: center;\">7.00%<\/td>\n<td style=\"text-align: center;\">7.00%<\/td>\n<\/tr>\n<tr>\n<td><strong>Jana Small Finance Bank<\/strong><\/td>\n<td style=\"text-align: center;\">6.00%<\/td>\n<td style=\"text-align: center;\">6.00%<\/td>\n<td style=\"text-align: center;\">6.00%<\/td>\n<td style=\"text-align: center;\">6.00%<\/td>\n<\/tr>\n<tr>\n<td><strong>Suryoday Small Finance Bank<\/strong><\/td>\n<td style=\"text-align: center;\">6.25%<\/td>\n<td style=\"text-align: center;\">7.25%<\/td>\n<td style=\"text-align: center;\">7.25%<\/td>\n<td style=\"text-align: center;\">7.00%<\/td>\n<\/tr>\n<tr>\n<td><strong>Ujjivan Small Finance Bank<\/strong><\/td>\n<td style=\"text-align: center;\">4.00%<\/td>\n<td style=\"text-align: center;\">4.00%<\/td>\n<td style=\"text-align: center;\">5.50%<\/td>\n<td style=\"text-align: center;\">5.50%<\/td>\n<\/tr>\n<tr>\n<td><strong>Utkarsh Small Finance Bank<\/strong><\/td>\n<td style=\"text-align: center;\" colspan=\"4\">up to 6% (details not on website)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<blockquote><p><strong>Also Read:<\/strong>\u00a0<a href=\"https:\/\/www.apnaplan.com\/charges-saving-bank-account\/\">21 Hidden Charges in Saving Bank Account<\/a><\/p><\/blockquote>\n<h2 style=\"text-align: justify;\">Should you bank with Small Banks?<\/h2>\n<p style=\"text-align: justify;\">These are new age banks and some of them are putting technology to good use. Also as they are new, they need deposits to fund and expand their business of lending. To do so they have to offer higher interest rates.<\/p>\n<p style=\"text-align: justify;\">Some people worry about the safety of these banks .i.e. <strong>what if these banks close down?<\/strong> I do agree there is possibility that a shut down can happen but that is true for any bank which is operating today. I don\u2019t think people should fear a shut-down as these are closely monitored by RBI. Deposits up to Rs 1 Lakh (including savings, fixed, current and recurring) is insured by Deposit Insurance and Credit Guarantee Corporation (DICGC) as in case of other banks. There are <a href=\"https:\/\/www.apnaplan.com\/bank-deposit-insurance\/\">ways you can increase your insured deposit by smart moves<\/a>.<\/p>\n<blockquote><p><strong>Also Read:<\/strong>\u00a0<a href=\"https:\/\/www.apnaplan.com\/swp-debt-mutual-funds\/\">How SWP in Debt Mutual Funds is better than FD for Regular Income?<\/a><\/p><\/blockquote>\n<p style=\"text-align: justify;\"><span style=\"text-decoration: underline;\"><strong>Less Number of Branches:<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">The small banks as the name suggests have local presence and they may not be present in your locality. The table below shows the bank headquarters. These banks are mainly concentrated in those geographies.<\/p>\n<table>\n<tbody>\n<tr>\n<td><strong>Name of the Small Financial bank<\/strong><\/td>\n<td><strong>Head quarters<\/strong><\/td>\n<\/tr>\n<tr>\n<td>AU Small Finance Bank Limited(AUBANK)<\/td>\n<td>Jaipur,\u00a0Rajasthan<\/td>\n<\/tr>\n<tr>\n<td>Capital Small Finance Bank<\/td>\n<td>Jalandar ,Punjab<\/td>\n<\/tr>\n<tr>\n<td>Equitas Small Finance Bank<\/td>\n<td>Chennai, Tamilnadu<\/td>\n<\/tr>\n<tr>\n<td>ESAF Small Finance Bank<\/td>\n<td>Thrissur , Kerala<\/td>\n<\/tr>\n<tr>\n<td>FINCARE Small Finance Bank Limited(formed from Disha Microfin Limited)<\/td>\n<td>Bengaluru , Karnataka<\/td>\n<\/tr>\n<tr>\n<td>Jana Small Finance Bank<\/td>\n<td>Bengaluru , Karnataka<\/td>\n<\/tr>\n<tr>\n<td>North East Small Finance Bank(NESFB)-RGVN Micro Finance Ltd.<\/td>\n<td>Guwahati , Assam<\/td>\n<\/tr>\n<tr>\n<td>Suryoday Small Finance Bank<\/td>\n<td>Navi Mumbai<\/td>\n<\/tr>\n<tr>\n<td>Ujjivan Small Finance Bank<\/td>\n<td>Bengaluru, Karnataka<\/td>\n<\/tr>\n<tr>\n<td>Utkarsh Small Finance Bank<\/td>\n<td>Varanasi , U.P<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"text-align: justify;\">In case you want to move to a different place, you may not be able to port your account to the new city as there may be no branches. But today most of banking is done by internet banking and hence may not be a problem for digital savvy customers. However, people who prefer branch banking may be in a fix in case you move too often.<\/p>\n<blockquote><p><strong>Also Read:<\/strong><a href=\"http:\/\/www.apnaplan.com\/regular-income-investment\/\">13 Investments to Generate Regular Income<\/a><\/p><\/blockquote>\n<h2 style=\"text-align: justify;\">Our Verdict:<\/h2>\n<p style=\"text-align: justify;\"><strong>In case you have branch close to you and save money through fixed\/recurring deposit, you must invest some part of your savings to these banks which are offering higher interest rates.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>RBI on September 2015 had granted licence to 10 Small Finance Banks. Lately these banks have been in news for offering higher interest rates on their fixed deposits as compared to regular banks. In this post we would tell you whats on offer by small banks and if you should invest and bank with them! [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9622,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[683,195,30,1589,27],"tags":[3716,3725,3717,3726,3718,3727,3719,3728,3720,3729,3721,3730,3722,3731,3723,3732,3724,3733],"uagb_featured_image_src":{"full":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2018\/08\/Invest-in-Small-Banks-Fixed-Deposits.png",1143,684,false],"thumbnail":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2018\/08\/Invest-in-Small-Banks-Fixed-Deposits-150x150.png",150,150,true],"medium":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2018\/08\/Invest-in-Small-Banks-Fixed-Deposits-300x180.png",300,180,true],"medium_large":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2018\/08\/Invest-in-Small-Banks-Fixed-Deposits-768x460.png",768,460,true],"large":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2018\/08\/Invest-in-Small-Banks-Fixed-Deposits-1024x613.png",1024,613,true],"1536x1536":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2018\/08\/Invest-in-Small-Banks-Fixed-Deposits.png",1143,684,false],"2048x2048":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2018\/08\/Invest-in-Small-Banks-Fixed-Deposits.png",1143,684,false],"yarpp-thumbnail":["https:\/\/www.apnaplan.com\/wp-content\/uploads\/2018\/08\/Invest-in-Small-Banks-Fixed-Deposits.png",120,72,false]},"uagb_author_info":{"display_name":"Amit","author_link":"https:\/\/www.apnaplan.com\/author\/admin\/"},"uagb_comment_info":11,"uagb_excerpt":"RBI on September 2015 had granted licence to 10 Small Finance Banks. Lately these banks have been in news for offering higher interest rates on their fixed deposits as compared to regular banks. In this post we would tell you whats on offer by small banks and if you should invest and bank with them!&hellip;","_links":{"self":[{"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/posts\/9487"}],"collection":[{"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/comments?post=9487"}],"version-history":[{"count":0,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/posts\/9487\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/media\/9622"}],"wp:attachment":[{"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/media?parent=9487"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/categories?post=9487"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.apnaplan.com\/wp-json\/wp\/v2\/tags?post=9487"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}