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ESAF Small Finance Bank Hikes Interest Rates on FD

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The ESAF Small Finance Bank (SFB) has increased the interest rates on fixed deposits under Rs 2 crore.

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According to the bank’s official website, the new rates are in effect as of right now, on December 15, 2022.

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The bank currently offers interest rates on deposits maturing in 7 days to 10 years that vary from 4.00% to 5.25% for the general public and 4.50% to 5.75% for senior citizens as a result of the move.

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The ESAF Small Finance Bank (SFB) is offering a maximum interest rate for deposits maturing in 999 days.

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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.

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Deposits maturing in 183 days to one year get 5.50% interest, while those maturing in one year, one day to less than two years earn 7.25% interest.

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The bank is offering an interest rate of 7.50% on deposits maturing in 2 years, 998 days, while ESAF SFB is offering a maximum interest rate of 8.00% on deposits maturing in 999 days (2 years, 8 months, and 25 days).

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Deposits that mature in 1000 days or less than three years will get interested at a rate of 7.50%, while those that mature in three years or less than five years and those that mature in five years or more will earn interest at 5.75% and 5.25%, respectively.

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No interest will be assessed if a resident term deposit is prematurely withdrawn before the passage of 7 days from the deposit date.

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