AU Small Finance Bank Raises FD, RD Rates to 7.90%
AU Small Finance Bank has announced an increase in interest rates for fixed deposits (FDs), recurring deposits (RDs), and Foreign Currency Non-Resident (FCNR) deposits, offering customers potentially higher returns. The revised rates are effective across both its physical branches and digital banking platforms.
The bank is now offering interest rates of up to 7.90% for select tenures. This increase aims to attract depositors seeking better returns on their savings, particularly in the current economic climate. The specific rates vary depending on the deposit type, tenure, and the depositor's category – general public, senior citizens, and Non-Resident Indians (NRIs).
Senior citizens currently benefit from an additional 0.50% interest rate premium on FDs and RDs, providing a further incentive for those seeking stable and secure investment options. NRIs can also benefit from competitive rates on FCNR deposits, allowing them to remit funds and earn attractive returns in foreign currency.
AU Small Finance Bank's move follows a trend within the Indian banking sector as institutions respond to evolving market conditions and aim to bolster their deposit base. Customers are advised to check the bank's website or visit a branch for the most up-to-date interest rate schedule and terms and conditions before making any investment decisions.
