Latest news with #SuryodaySmallFinanceBank
Economic Times
4 days ago
- Business
- Economic Times
FD rate up to 8.5% for senior citizens investing for three years; Know the list of banks
Several small finance banks are offering attractive fixed deposit interest rates up to 8.5% for senior citizens on three-year terms, with deposits insured up to Rs 5 lakh. While these rates are appealing, experts advise caution and limiting exposure to the insured amount. Read below to know more about bank FD interest rate. Tired of too many ads? Remove Ads Bank FD interest rate for senior citizens FD rate up to 8.5% FD rate up to 8.25% for senior citizens Tired of too many ads? Remove Ads Bank name Interest rate Utkarsh Small Finance Bank 8.5% Jana Small Finance Bank 8.25% slice Small Finance Bank 8.25% Suryoday Small Finance Bank 8.15% FD rate up to 8.15% When is TDS deducted from bank FDs? There are still some banks which continue to offer up to 8.5% interest rate on fixed deposits (FDs) made by senior citizens (age 60 years and above) for a three- year term with a maximum limit of Rs 3 below to know the list of banks offering FD interest rates up to 8.5%. Utkarsh Small Finance Bank is offering 8.5% interest rate on FD of three year tenure. Jana Small Finance Bank is offering 8.25% interest rate on FD for three year tenure for senior Small Finance Bank is offering 8.25% interest rate on FD for three year tenure for senior as of July 16, 2025 Suryoday Small Finance Bank is offering up to 8.15% interest rate on FD for three year While deposits in small finance banks are insured by the Deposit Insurance Credit Guarantee Corporation (DICGC) up to Rs 5 lakh, experts advise investors to exercise caution when investing in their FDs. Given their unique business model, the risk associated with investing in small finance bank FDs might differ slightly from that of scheduled commercial banks. To mitigate potential risks, it's recommended that investors limit their exposure to small finance bank FDs to an amount that falls within the DICGC coverage. This ensures that their principal and interest are protected in unforeseen are required to deduct tax deducted at source (TDS) if the interest earned on a fixed deposit (FD) exceeds Rs 1 lakh in a particular bank. Keep in mind that TDS isn't an extra tax; you can reclaim it as a refund or offset it against your total tax liability when you file your income tax return (ITR). Moreover, if you are eligible for a tax refund, you might also qualify for interest on that instance, if a senior citizen has an income is Rs 11 lakh, they won't have to pay income tax thanks to the Section 87A tax rebate under the new tax regime for FY 2025-26. The Section 87A tax rebate is applies to income up to Rs 12 lakh under the new tax a senior citizen can submit Form 15H to avoid TDS deduction if his total income, after claiming all deductions and the Section 87A rebate is below the taxable limit, which is Rs 12 lakh for the new tax regime or Rs 5 lakh for the old though no income tax is charged on income below Rs 12 lakh, banks and other financial institutions will still deduct TDS. This is because the law requires them to deduct TDS once the interest/income amount surpasses a certain limit, which is Rs 1 lakh for senior citizens. Banks are not aware of individual tax liabilities and will deduct TDS whenever the annual interest exceeds Rs 1 lakh. Hence submit Form 15H to let the banks know.
Time of India
4 days ago
- Business
- Time of India
FD rate up to 8.5% for senior citizens investing for three years; Know the list of banks
Several small finance banks are offering attractive fixed deposit interest rates up to 8.5% for senior citizens on three-year terms, with deposits insured up to Rs 5 lakh. While these rates are appealing, experts advise caution and limiting exposure to the insured amount. Read below to know more about bank FD interest rate. Tired of too many ads? Remove Ads Bank FD interest rate for senior citizens FD rate up to 8.5% FD rate up to 8.25% for senior citizens Tired of too many ads? Remove Ads Bank name Interest rate Utkarsh Small Finance Bank 8.5% Jana Small Finance Bank 8.25% slice Small Finance Bank 8.25% Suryoday Small Finance Bank 8.15% FD rate up to 8.15% When is TDS deducted from bank FDs? There are still some banks which continue to offer up to 8.5% interest rate on fixed deposits (FDs) made by senior citizens (age 60 years and above) for a three- year term with a maximum limit of Rs 3 below to know the list of banks offering FD interest rates up to 8.5%. Utkarsh Small Finance Bank is offering 8.5% interest rate on FD of three year tenure. Jana Small Finance Bank is offering 8.25% interest rate on FD for three year tenure for senior Small Finance Bank is offering 8.25% interest rate on FD for three year tenure for senior as of July 16, 2025 Suryoday Small Finance Bank is offering up to 8.15% interest rate on FD for three year While deposits in small finance banks are insured by the Deposit Insurance Credit Guarantee Corporation (DICGC) up to Rs 5 lakh, experts advise investors to exercise caution when investing in their FDs. Given their unique business model, the risk associated with investing in small finance bank FDs might differ slightly from that of scheduled commercial banks. To mitigate potential risks, it's recommended that investors limit their exposure to small finance bank FDs to an amount that falls within the DICGC coverage. This ensures that their principal and interest are protected in unforeseen are required to deduct tax deducted at source (TDS) if the interest earned on a fixed deposit (FD) exceeds Rs 1 lakh in a particular bank. Keep in mind that TDS isn't an extra tax; you can reclaim it as a refund or offset it against your total tax liability when you file your income tax return (ITR). Moreover, if you are eligible for a tax refund, you might also qualify for interest on that instance, if a senior citizen has an income is Rs 11 lakh, they won't have to pay income tax thanks to the Section 87A tax rebate under the new tax regime for FY 2025-26. The Section 87A tax rebate is applies to income up to Rs 12 lakh under the new tax a senior citizen can submit Form 15H to avoid TDS deduction if his total income, after claiming all deductions and the Section 87A rebate is below the taxable limit, which is Rs 12 lakh for the new tax regime or Rs 5 lakh for the old though no income tax is charged on income below Rs 12 lakh, banks and other financial institutions will still deduct TDS. This is because the law requires them to deduct TDS once the interest/income amount surpasses a certain limit, which is Rs 1 lakh for senior citizens. Banks are not aware of individual tax liabilities and will deduct TDS whenever the annual interest exceeds Rs 1 lakh. Hence submit Form 15H to let the banks know.
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Business Standard
15-07-2025
- Business
- Business Standard
These 2 stocks trade at 60% discount to IPO price; time to buy? Chart check
Technical charts suggest that Suryoday Small Finance Bank and Motisons Jewellers share prices can potentially surge up to 48% from present levels; here's why Rex Cano Mumbai Listen to This Article These 2 stocks - Suryoday Small Finance Bank and Motisons Jewellers - listed on the BSE and the NSE in the last five years are seen trading at up to 60 per cent discount to their respective issue price of ₹305 and ₹55 per share. Suryoday SFB had come with its IPO in March 2021, while Motisons in December 2023. An analysis of the 280-odd Initial Public Offers (IPOs) in the last five years, since the year 2021, shows that 25 per cent of the IPOs were trading at over 10 per cent discount to the respective issue price.
Business Standard
04-07-2025
- Business
- Business Standard
Suryoday SFB gains as gross advances jump 20% YoY in Q1 FY26
Suryoday Small Finance Bank (SFB) added 2.68% to Rs 141.56 after the bank's gross advances increased 20% to to Rs 10,846 crore in Q1 FY26, as compared to Rs 9,037 crore posted in Q1 FY25. Sequentially, gross advances rose 6% to Rs 10,251 crore posted in Q4 FY25. Disbursements for Q1 FY26 stood at Rs 2,261 crore, up 30% YoY and 8% QoQ. The banks total deposits grew by 39% YoY and 7% QoQ to Rs 11,312 crore reported in Q1 FY26. Retail deposits increased 39% YoY and 8% QoQ to Rs 9,230 crore and bulk deposits stood at Rs 2,083 crore during the quarter, up 21% YoY and 4% QoQ. The bank's CASA (Current Account Savings Account) deposits stood at Rs 2,003 crore in Q1 FY26, registering a growth of 39% in YoY and down 9% YoY. The CASA ratio remained unchanged at 17.7% in Q1 FY26, compared to the same figure of 17.7% in Q1 FY25. However, it showed a decline from 20.9% posted in Q4 FY25. The CE - 1 EMI% stood at 94.1% in Q1 FY26, compared to 93.4% in Q1 FY25, and 98.8% in Q4 FY25. Meanwhile, the CE - Overall% was recorded at 97.1% in Q1 FY26, showing a decline from 99.7% in Q4 FY25, but still higher than 101.0% in Q1 FY25. The gross non-performing assets (GNPA) ratio stood at 8.5% in Q1 FY26, compared to 7.1% in Q4 FY25, reflecting a Q-o-Q increase. This was also higher than 2.7% recorded in Q1 FY25, indicating a Y-o-Y rise. As of June 2025, approximately 98% of the Inclusive Finance portfolio, which makes up around 48% of the Bank's Gross Advances, is covered under the CGFMU Scheme. The breakdown for Gross Non-Performing Assets (GNPA) as of June 30, 2025, shows a GNPA of Rs 927 crore, with Rs 804 crore covered under CGFMU. Of this, Rs 585 crore is claimable as per the CGFMU policy under various cohorts. In Q1 FY26, the bank received around Rs 56 crore, representing 100% of the claim made for the quarter. Additionally, the Bank's retail deposits grew by 44% Y-o-Y, while disbursements for the quarter rose by 30% Y-o-Y, reaching over Rs 2,200 crore. Suryoday Small Finance Bank is a leading Small Finance Bank(SFB) in India. The company started offering SFB services in 2017. They serve customers in the unbanked and underbanked segments. Before SBF, the company operated as an NBFC. The bank reported standalone net loss of Rs 33.78 crore in Q4 FY25 as against net profit of Rs 60.84 crore in Q4 FY24. Net sales rose 4.2% year on year to Rs 530.68 crore in Q4 FY25.
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Business Standard
04-07-2025
- Business
- Business Standard
Suryoday Small Finance Bank shares climb 5% on releasing Q1FY26 update
Suryoday Small Finance Bank share price jumped 5.1 per cent in trade, logging an intraday high at ₹145 per share. At 10:11 AM, Suryoday Small Finance shares were trading 3.01 per cent higher at ₹142.1 per share on the BSE. In comparison, the BSE Sensex was up 0.03 per cent at 83,265.05. The company's market capitalisation stood at ₹1,510.31 crore. Its 52-week high was at ₹205.5 per share and 52-week low was at ₹90 per share. Suryoday Small Finance Bank Q1FY26 update The buying on the counter came after the company released its Q1 business update. According to the filing, the small finance bank's total deposits for the quarter ended Jun 30, 2025, stood at ₹11,312 crore as compared to ₹8,137 crore a year ago, up 39 per cent. Its gross advances for the quarter under review stood at ₹10,846 crore as compared to ₹9,037 crore a year ago, up 20 per cent. On a sequential basis, the gross advances grew 6 per cent. The bank's disbursement year-on-year (Y-o-Y) grew 30 per cent to ₹2,261 crore as compared to ₹1,740 crore and on a quarter-on-quarter (Q-o-Q) basis, the disbursement grew 8 per cent. The current account savings account (CASA) for the quarter stood at ₹2,003 crore as compared to ₹1,439 crore a year ago, up 39 per cent. In Q4FY25, the CASA stood at ₹2,212 crore. In Q1FY26, the gross non-performing asset (GNPA) of the company stood at 8.5 per cent as compared to 7.1 per cent in Q4FY25 and 2.7 per cent in Q1FY25. Further, the Bank received an amount of approximately ₹56 crore in Q1 FY26, representing 100 per cent of the claim in that quarter. The bank's retail deposits registered a growth of 44 per cent Y-o-Y. Disbursements for the quarter grew by 30 per cent Y-o-Y, reaching over ₹2,200 crore. About Suryoday Small Finance Bank Suryoday Small Finance Bank offers a range of products including savings and current accounts, fixed and recurring deposits, as well as loans tailored for individuals, micro-businesses, and MSMEs. Its offerings are backed by robust digital infrastructure, including mobile and internet banking, UPI, and Aadhaar-enabled services.
