Suryoday Small Finance Bank has announced a cut in fixed deposit (FD) interest rates from June 1, 2025. This has happened at a time when other big banks have also reduced their rates. According to the bank, the highest interest rate of 9.10% being offered to senior citizens will remain applicable till May 31, 2025. This means that customers now have only four days left to earn more interest.

New interest rates - will be applicable from June 1, 2025-

From June 1, interest rates on FDs for general customers will be between 4% to 8%. In this, 5-year FDs have been reduced from 8.6% to 8%, which is the biggest cut. The new interest rates for senior citizens will be from 4.4% to 8.4%. There has been a cut of 10 basis points (bps) on all tenures, while there has been a big cut of 70 bps on 5-year FD, which will reduce it from 9.10% to 8.40%. (bank fd rates)

Advice for investors-

The bank has advised customers that those who want to take advantage of the current high interest rates should book their fixed deposit (FD) before June 1. This will help them get higher returns. Senior citizens should especially take advantage of this opportunity, as their returns will be reduced after the rate cut. By making a quick decision, they will be able to take advantage of higher interest rates.

FD interest rates-

The interest rate on FDs ranging from 7 to 14 days is 4.00%.

4.25% interest will be given for 15 to 45 days, 4.50% for 46 to 90 days, and 5.00% interest will be given for 91 days to 6 months.

The interest rate on FD of 6 months 1 day will be 7.25% (annual yield 7.45%).

5.50% interest will be given on FD of 6 months 1 day to 9 months, and 6.00% interest will be given for less than 9 months to 1 year.

7.90% interest will be given on FD of 1 year (annual yield 8.14%), 8.00% interest will be given for 1 year to 15 months.

8.25% interest will be applicable on FD of 15 to 18 months, and 8.10% interest will be applicable for 18 months to 2 years.

FDs of 2 years to 30 months will get 8.15% interest and 30 to 36 months will get 8.40% interest.

For a period of less than 3 years to 5 years, the interest rate will decrease to 6.75%, while FDs of full 5 years will get 8.00% interest.

The interest rate on FDs of 5 years to 10 years has been fixed at 7.25%.

FD interest rates for senior citizens-

4.40% interest will be available for 7 to 14 days, 4.65% for 15 to 45 days, and 4.90% interest will be available for 46 to 90 days.

5.40% interest will be available for 91 days to 6 months and 7.65% (annual yield 7.87%) for 6 months and 1 day.

6 months 1 day to 9 months will get 5.90% interest, and less than 9 months to 1 year will get 6.40% interest.

Senior citizens will get 8.30% interest (annual yield of 8.56%) for 1 year.

8.40% interest will be given for 1 year to 15 months, 8.65% for 15 to 18 months, and 8.50% interest will be given for 18 months to 2 years.

8.55% interest will be given for 2 years to 30 months, and 8.80% (annual yield 9.09%) for 30 to 36 months.

7.15% interest will be given on FDs of less than 3 years to 5 years, 8.40% on 5-year FDs, and 7.65% on FDs of 5 to 10 years.

Senior citizens will get the benefit of about 0.40% more interest than normal investors. These rates will be applicable from June 1, 2025. If investors want to take advantage of higher interest rates, then invest in FD before May 31, 2025.

Disclaimer: This content has been sourced and edited from Hr Breaking. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.