Nevertheless, it’s vital to recognize that withdrawing FDs before their designated maturity period will result in the forfeiture of any interest payments. Consequently, the penalty you pay will never exceed one per cent of the interest you would have earned if you had retained the FD until maturity.Įquitas Small Finance Bank provides appealing interest rates for FDs, offering rates of up to 9 per cent for senior citizens on specific tenures. It’s worth noting, however, that this penalty is calculated based on the lower of two rates: the card rate at the time of deposit or the contracted rate. In practical terms, if you opt to withdraw your FD before its maturity date, you’ll incur a penalty amounting to one per cent of the interest you would have earned if you had maintained the FD until maturity. The bank also imposes a premature withdrawal penalty of one per cent, but this penalty is not applicable for closures occurring within seven days of deposit.

Utkarsh Small Finance Bank extends an interest rate of 9.10 per cent to senior citizens for FDs maturing within the two to three-year timeframe. In sum, Unity Small Finance Bank provides a competitive FD interest rate, but it is essential to take note of the premature withdrawal penalty before making an investment decision. This penalty serves as a deterrent for early withdrawals and helps the bank sustain its profitability. Nonetheless, should you decide to withdraw your FD before its maturity date, a premature penalty of one per cent will be levied on the interest accrued during the period the deposit was held. The new rates are effective from today, 20 February, according to the bank's website.Unity Small Finance Bank presents an enticing interest rate of 9.50 per cent for Fixed Deposits maturing in 1001 days.

The new interest rates will be applicable for deposits of less than Rs2 crore. Punjab National Bank (PNB) has hiked interest rates on fixed deposits (FDs) on select tenures.

These rates are effective from 15 February 2023.ĥ years and up to 10 years - 6.5% PNB Bank FD Rates : PNB fixed deposits interest rates Senior citizens will get 50 basis points (bps) extra on these deposits. SBI FDs between 7 days to 10 years offer 3 per cent to 7.1 per cent interest to general customers. 5 year 1 day - 10 years 7.00% SBI Bank FD Rates : SBI fixed deposits interest rates

Fix deposit rate in hdfc bank