Latest news with #sliceSmallFinanceBank
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Business Standard
2 days ago
- Business
- Business Standard
Fixed deposits after RBI holds repo rate steady: Banks with best returns
The Reserve Bank of India (RBI) on Wednesday held the repo rate unchanged at 5.50 per cent and continued with a neutral stance. No major changes are expected in fixed deposit (FD) terms as policy rates stay steady, but investors may still avail of attractive returns, especially from smaller lenders. Here's a look at FD rates in August, as compiled by Small finance banks lead the pack Smaller banks offer the most competitive FD rates, especially for tenures of one to five years. slice Small Finance Bank: Offers 8.50 per cent FD rate, the highest, for an 18-month tenure. Jana Small Finance Bank: 8.00 per cent rate for five-year FDs, and 7.50 per cent for three-year deposits. Suryoday Small Finance Bank: 8.20 per cent on five-year FDs and 7.75 per cent on three-year FDs. Equitas and ESAF Small Finance Banks: Up to 7.60 per cent for 444 and 888-day tenures. Bank Fixed Deposit Rates Bank Name Interest Rates (p.a.) % Tenure SMALL FINANCE BANKS AU Small Finance Bank 7.10 2 years 1 day to 3 years 6.35 7.10 6.75 Equitas Small Finance Bank 7.60 888 days 7.25 7.25 7.00 ESAF Small Finance Bank 7.60 444 days 4.75 6.00 5.75 Jana Small Finance Bank 8.00 5 years 7.25 7.50 8.00 slice Small Finance Bank 8.50 18 months 1 day to 18 months 2 days 6.75 8.25 7.75 Suryoday Small Finance Bank 8.20 5 years 7.50 7.75 8.20 Ujjivan Small Finance Bank 7.45 2 years 7.25 7.20 7.20 Unity Small Finance Bank 7.75 1001 days 6.50 7.25 7.25 Utkarsh Small Finance Bank 7.65 2 years to 3 years 6.00 7.65 7.25 Note: While returns are attractive, depositors should check the creditworthiness and deposit insurance coverage (up to Rs 5 lakh per bank account) before parking funds in these banks. Private-sector banks offer moderate yields Private banks are offering FD rates between 6.25 per cent and 7.40 per cent. DCB Bank and Bandhan Bank: Offer up to 7.40 per cent for two- and three-year tenures. RBL Bank: Offers 7.20 per cent two- and three-year tenures. Bank Fixed Deposit Rates Bank Name Interest Rates (p.a.) Highest slab 1-year tenure (%) 3-year tenure (%) 5-year tenure (%) % Tenure PRIVATE SECTOR BANKS Axis Bank 6.60 18 months to 10 years 6.25 6.60 6.60 Bandhan Bank 7.40 2 years to less than 3 years 7.25 7.25 5.85 City Union Bank 6.75 365 days 6.75 6.65 6.25 CSB Bank 6.80 13 months 5.00 5.75 5.75 DBS Bank 6.55 376 days to 600 days 6.30 6.40 6.25 DCB Bank 7.40 27 months to less than 28 months 7.00 7.00 7.00 Federal Bank 6.70 444 days 6.40 6.60 6.25 HDFC Bank 6.60 18 months to less than 21 months 6.25 6.45 6.40 ICICI Bank 6.60 2 years 1 day to 10 years 6.25 6.60 6.60 IDFC FIRST Bank 6.75 2 years 1 day to 3 years 6.30 6.75 6.60 IndusInd Bank 7.00 1 year 1 month to 2 years 6.75 6.75 6.65 Jammu & Kashmir Bank 7.30 888 days 6.75 6.75 6.50 Karur Vysya Bank 6.85 444 days 6.60 6.60 6.60 Karnataka Bank 6.65 555 days 6.50 6.15 6.15 Kotak Mahindra Bank 6.60 391 days to 23 months 6.25 6.40 6.25 RBL Bank 7.20 2 years 1 day to 3 years 7.00 7.20 6.70 SBM Bank India 7.50 5 years 7.05 7.05 7.50 South Indian Bank 6.60 1 year 7 days 6.50 6.20 5.70 Tamilnad Mercantile Bank 7.05 400 days (TMB400) 6.80 6.25 6.25 YES Bank 7.00 3 years to less than 5 years 6.65 7.00 6.75 Public-sector banks: Stable but lower returns State-run banks remain conservative on deposit rates, with most capping offers around 6.50–7.00 per cent. Central Bank of India offers 7.00 per cent for ultra-long tenures of 2222 or 3333 days. Indian Overseas Bank and Punjab & Sind Bank offer 6.75 per cent and 6.80 per cent respectively for select tenures.
Time of India
01-08-2025
- Business
- Time of India
Forget low savings interest: This bank is giving you RBI's repo rate as interest with no hidden clauses
Academy Empower your mind, elevate your skills Higher interest rate on savings account with no frills Bank Name Savings Account Interest Rate Applicable Balance Slab State Bank of India 2.50% p.a. Uniform rate for all balances HDFC Bank 2.50% p.a. Uniform rate for all balances ICICI Bank 2.50% p.a. Uniform rate for all balances Canara Bank 4.00% p.a. On outstanding balance of Rs 2,000 crore & above Bank of Baroda 4.25% p.a. On outstanding balance of Rs 2,000 crore & above YES Bank 5% Rs 50 lakh and above to less than Rs 100 crore slice 5.5% p.a On all balances Punjab National Bank 2.70% p.a. On account balance of Rs 100 crore & above The Reserve Bank of India (RBI) reduced its benchmark repo rate by a total of 1% (100 basis points) since February 2025-reducing from 6.5% to 5.5% through three consecutive rate cuts. In response to RBI's repo rate cuts, major banks have systematically lowered their fixed deposit (FD) rates and the interest rates on savings per the latest bulletin from the RBI, savings deposit rates of some public sector banks (PSBs) are prevailing at a historical low since their deregulation in only a select number of banks are offering high interest rates on savings accounts. However, these interest rates are linked to ensuring higher bank balances in the savings account. slice Small Finance Bank is among banks currently offering high interest rates, as it is "offering a repo-linked interest rate on savings accounts," as per a press release by slice Wealth online decodes the interest rate you can earn on savings account balances, including any terms and conditions, and compares it with the interest rates offered by other major banks on savings accounts to the press release issued by slice Small Finance Bank, the bank is offering an interest rate of 5.5% on the savings bank account. This rate comes with no annual charges, no minimum balance requirement, and daily interest payouts, as per the bank's press is important to note that the interest rate on savings accounts is directly linked to the repo rate. Any change in the repo rate by the RBI will also impact the interest rate earned on these savings per the slice Small Finance Bank's website, "slice's digital savings account is a zero-balance account, meaning there's no minimum deposit required. With a zero-balance account, you don't have to worry about fees for maintaining a low balance."Here is a comparison of the savings account interest rate of slice Small Finance Bank with other major banks, such as State Bank of India (SBI), ICICI Bank , and HDFC Bank Currently, SBI, HDFC Bank, and ICICI Bank are offering savings account interest rates at 2.5% per annum for all savings account balances. Canara Bank is offering a higher savings account interest rate of 4% on outstanding balances of Rs 2,000 crore and above. Bank of Baroda is also offering a higher savings account interest rate of 4.25% on the outstanding balance of Rs. 2,000 crores and above. Punjab National Bank offers the highest interest rate of 2.70% on an account balance of Rs 100 crore and above. YES Bank offers a 5% savings account interest rate on balances of Rs 50 lakh and above to less than Rs 100 crore. Utkarsh Small Finance Bank offers 7.5% interest on an incremental balance above Rs 10 crore up to Rs 100 As per bank website as on July 31, 2025.
Economic Times
01-08-2025
- Business
- Economic Times
Forget low savings interest: This bank is giving you RBI's repo rate as interest with no hidden clauses
ET Online Savings account interest rate The Reserve Bank of India (RBI) reduced its benchmark repo rate by a total of 1% (100 basis points) since February 2025-reducing from 6.5% to 5.5% through three consecutive rate cuts. In response to RBI's repo rate cuts, major banks have systematically lowered their fixed deposit (FD) rates and the interest rates on savings accounts. As per the latest bulletin from the RBI, savings deposit rates of some public sector banks (PSBs) are prevailing at a historical low since their deregulation in 2011. Currently, only a select number of banks are offering high interest rates on savings accounts. However, these interest rates are linked to ensuring higher bank balances in the savings account. slice Small Finance Bank is among banks currently offering high interest rates, as it is "offering a repo-linked interest rate on savings accounts," as per a press release by slice SFB. New UPI rules from August 1, 2025: These new rules could affect your daily transactions from August 1 ET Wealth online decodes the interest rate you can earn on savings account balances, including any terms and conditions, and compares it with the interest rates offered by other major banks on savings accounts currently. Higher interest rate on savings account with no frills According to the press release issued by slice Small Finance Bank, the bank is offering an interest rate of 5.5% on the savings bank account. This rate comes with no annual charges, no minimum balance requirement, and daily interest payouts, as per the bank's press is important to note that the interest rate on savings accounts is directly linked to the repo rate. Any change in the repo rate by the RBI will also impact the interest rate earned on these savings per the slice Small Finance Bank's website, "slice's digital savings account is a zero-balance account, meaning there's no minimum deposit required. With a zero-balance account, you don't have to worry about fees for maintaining a low balance." Here is a comparison of the savings account interest rate of slice Small Finance Bank with other major banks, such as State Bank of India (SBI), ICICI Bank, and HDFC Bank: Currently, SBI, HDFC Bank, and ICICI Bank are offering savings account interest rates at 2.5% per annum for all savings account balances. Canara Bank is offering a higher savings account interest rate of 4% on outstanding balances of Rs 2,000 crore and above. Bank of Baroda is also offering a higher savings account interest rate of 4.25% on the outstanding balance of Rs. 2,000 crores and above. Punjab National Bank offers the highest interest rate of 2.70% on an account balance of Rs 100 crore and above. YES Bank offers a 5% savings account interest rate on balances of Rs 50 lakh and above to less than Rs 100 crore. Utkarsh Small Finance Bank offers 7.5% interest on an incremental balance above Rs 10 crore up to Rs 100 crore. Bank Name Savings Account Interest Rate Applicable Balance Slab State Bank of India 2.50% p.a. Uniform rate for all balances HDFC Bank 2.50% p.a. Uniform rate for all balances ICICI Bank 2.50% p.a. Uniform rate for all balances Canara Bank 4.00% p.a. On outstanding balance of Rs 2,000 crore & above Bank of Baroda 4.25% p.a. On outstanding balance of Rs 2,000 crore & above YES Bank 5% Rs 50 lakh and above to less than Rs 100 crore slice 5.5% p.a On all balances Punjab National Bank 2.70% p.a. On account balance of Rs 100 crore & above Source: As per bank website as on July 31, 2025. N.R. 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Business Standard
17-07-2025
- Business
- Business Standard
FD rates in July 2025: These 12 banks still offer up to 8.5% returns
Fixed deposit (FD) interest rates are on the decline once again, with State Bank of India (SBI), HDFC Bank, ICICI Bank, Indian Bank, Bank of Baroda and Canara Bank among those reducing rates by 10 to 25 basis points since June 2025. SBI's latest cut, effective July 15, 2025, lowers FD rates by 15 basis points for both general and senior citizens on tenures between 46 days and less than one year. These moves follow the Reserve Bank of India's decision to slash its benchmark repo rate by a total of 50 basis points over three consecutive cuts. Some banks still offer over 8 per cent on select tenures Despite the broader dip, a few banks continue to offer higher FD rates, particularly for risk-averse investors willing to park funds for specific durations. As of July 16, 2025, slice Small Finance Bank offers 8.50 per cent for a tenure of 18 months, Suryoday Small Finance Bank gives 8.40 per cent for FDs above five years and Bandhan Bank provides 7.40 per cent among private sector players. These rates apply to deposits below Rs 3 crore and may vary slightly by branch or mode of investment. Take a look at the banks offering the highest interest rate as of July 16, according to PaisaBazaar: Small Finance Banks Equitas Small Finance Bank Highest rate: 7.60 per cent for 888 days 1-year: 7.25 per cent, 3-year: 7.25 per cent, 5-year: 7 per cent ESAF Small Finance Bank Highest rate: 7.60 per cent for 444 days 1-year: 4.75 per cent, 3-year: 6 per cent, 5-year: 5.75 per cent Jana Small Finance Bank Highest rate: 8.20 per cent for 5 years 1-year: 7.50 per cent, 3-year: 7.75 per cent, 5-year: 8.20 per cent slice Small Finance Bank 1-year: 6.75 per cent, 3-year: 8.25 per cent, 5-year: 7.75 per cent Suryoday Small Finance Bank Highest rate: 8.40 per cent for 5 years 1-year: 7.50 per cent, 3-year: 8.15 per cent, 5-year: 8.40 per cent Ujjivan Small Finance Bank Highest rate: 7.75 per cent for 2 years 1-year: 7.65 per cent, 3-year: 7.20 per cent, 5-year: 7.20 per cent Unity Small Finance Bank Highest rate: 7.75 per cent for 1001 days 1-year: 6.50 per cent, 3-year: 7.25 per cent, 5-year: 7.25 per cent Utkarsh Small Finance Bank Highest rate: 8 per cent for 2 to 3 years 1-year: 6.25 per cent, 3-year: 8 per cent, 5-year: 7.50 per cent Private Sector Banks Bandhan Bank Highest rate: 7.40 per cent for 2 years to less than 3 years 1-year: 7.25 per cent, 3-year: 7.25 per cent, 5-year: 5.85 per cent CSB Bank Highest rate: 7.40 per cent for 13 months 1-year: 5 per cent, 3-year: 5.75 per cent, 5-year: 5.75 per cent DCB Bank Highest rate: 7.40 per cent for 25 to 26 months 1-year: 7 per cent, 3-year: 7 per cent, 5-year: 7 per cent Indian Bank Highest rate: 6.90 per cent for 444 days 1-year: 6.10 per cent, 3-year: 6.25 per cent, 5-year: 6 per cent TDS and tax treatment of FD interest Interest earned from fixed deposits is fully taxable and subject to tax deduction at source (TDS) once it crosses a certain threshold. 'Interest earned on FDs is taxable, with tax deducted at source (TDS) if it exceeds a specified limit,' said Adhil Shetty, CEO of BankBazaar. The 2025 Union Budget increased the TDS exemption limits: From Rs 40,000 to Rs 50,000 for general depositors From Rs 50,000 to Rs 1 lakh for senior citizens "Take the example of Shikha, a 35-year-old Ghaziabad resident earning Rs 75,000 annually in FD interest. Since the threshold for general citizens is now Rs 50,000, the remaining Rs 25,000 attracts TDS at 10 per cent. That means Rs 2,500 will be deducted upfront by the bank," Shetty explained. This amount is also added to her total taxable income. However, if her overall income is below Rs 2.5 lakh, she won't owe any additional tax. In such cases, she can avoid TDS by submitting Form 15G at the beginning of the financial year. Senior citizens in a similar situation can submit Form 15H instead.
