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Senior citizens can earn 9.1% interest on 5-year fixed deposits at this bank, but only until May 31
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4 min read | Updated on May 28, 2025, 14:27 IST
SUMMARY
Suryoday Small Finance Bank has announced revised interest rates for its fixed deposits, which will come into effect on June 1, 2025. The small finance bank has cut the rates by up to 60 basis points (bps), following the FD interest rate cuts announced by several other banks in recent times. Senior citizens can book FDs with an interest rate of 9.10% until May 31, 2025.
Suryoday Small Finance Bank currently offers interest rates ranging from 4% to 8.6% for the general public and from 4.5% to 9.10% for senior citizens on FDs below ₹3 crore.
At a time when most banks have been cutting fixed deposit (FD) interest rates, some banks are still offering decent rates on select tenures. For senior citizens, a few small finance banks are still offering higher FD interest rates.
Suryoday Small Finance Bank and Unity Small Finance Bank are two small finance banks offering the highest interest rate of 9.10% for senior citizens in May 2025. However, one of them is going to cut its FD interest rate from June 1, 2025.
The Navi Mumbai-based Suryoday Small Finance Bank (SSFB) has announced a revision in its FD interest rates, which will come into effect on June 1, 2025. The bank has cut interest rates by as much as 60 basis points (bps) for some tenures.
This means only 3 days are left for senior citizens to book a 5-year FD at 9.1% of 5 years in this bank. General citizens can book this FD at an 8.6% interest rate.
Currently, the bank offers interest rates ranging from 4% to 8.6% for the general public and from 4.5% to 9.10% for senior citizens on FDs below ₹3 crore.
| Period | Interest Rate (Per Annum) | Senior Citizen Rate (Per Annum) |
|---|---|---|
| 7 Days to 14 Days | 4.00% | 4.50% |
| 15 Days to 45 Days | 4.25% | 4.75% |
| 46 Days to 90 Days | 4.50% | 5.00% |
| 91 Days to 6 Months | 5.00% | 5.50% |
| 6 Month 1 Day | 7.25% | 7.75% |
| Above 6 Month 1 Day to 9 Months | 5.50% | 6.00% |
| Above 9 Months to less than 1 Year | 6.00% | 6.50% |
| 1 Year* | 7.90% | 8.40% |
| Above 1 Year upto 15 Months | 8.00% | 8.50% |
| Above 15 Months to 18 Months | 8.25% | 8.75% |
| Above 18 Months to 2 Years | 8.10% | 8.60% |
| Above 2 Years to 30 Months | 8.15% | 8.65% |
| Above 30 Months to 36 Months | 8.40% | 8.90% |
| Above 3 Years to less than 5 Years | 6.75% | 7.25% |
| 5 Years | 8.60% | 9.10% |
| Above 5 Years to 10 Years | 7.25% | 7.75% |
Suryoday Small Finance Bank’s new interest rates
Starting from June 1, Suryoday Small Finance Bank will offer interest rates ranging from 4% to 8.4% for general citizens and from 4.4% to 8.48% for senior citizens. The highest rates of 8.4% and 8.8% are for FDs above 30 months to 36 months. The biggest rate cut is for the 5-year FD, which now stands lower by 60 bps, at 8% for the general public and 8.4% for senior citizens.
| Period | Interest Rate (Per Annum) | Senior Citizen Rate (Per Annum) |
|---|---|---|
| 7 Days to 14 Days | 4.00% | 4.40% |
| 15 Days to 45 Days | 4.25% | 4.65% |
| 46 Days to 90 Days | 4.50% | 4.90% |
| 91 Days to 6 Months | 5.00% | 5.40% |
| 6 Month 1 Day | 7.25% | 7.65% |
| Above 6 Month 1 Day to 9 Months | 5.50% | 5.90% |
| Above 9 Months to less than 1 Year | 6.00% | 6.40% |
| 1 Year | 7.90% | 8.30% |
| Above 1 Year to 15 Months | 8.00% | 8.40% |
| Above 15 Months to 18 Months | 8.25% | 8.65% |
| Above 18 Months to 2 Years | 8.10% | 8.50% |
| Above 2 Years to 30 Months | 8.15% | 8.55% |
| Above 30 Months to 36 Months | 8.40% | 8.80% |
| Above 3 Years to less than 5 Years | 6.75% | 7.15% |
| 5 Years | 8.00% | 8.40% |
| Above 5 Years to 10 Years | 7.25% | 7.65% |
Many other banks have also slashed their FD interest rates in the last few weeks, including [HDFC Bank](HDFC Bank reduces fixed deposit interest rate; senior citizens can earn up to 7.35% ) and ICICI Bank.
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