This bank has increased FD rates, earn up to 9.75% interest on deposits.

New Delhi. Many banks have changed their interest rates on fixed deposits in the month of June. In this regard, North East Small Finance Bank (NESFB) has also changed the FD rates. NESFB has increased the interest rate on fixed deposits by 0.50%, making it the highest yielding bank on FD in the country.

North East Small Finance Bank is offering up to 9.25% return on FD for general citizens, while it is offering up to 9.75% interest for senior citizens. Earlier, the bank was offering an interest rate of 8.75 percent to its general citizens and 9.25 percent to senior citizens.

The highest interest rates are being given on fixed deposits in the country.
NESFB said it is offering 8.75 percent interest on FDs of 366-545 days and 9.25 percent to senior citizens. This interest is available on FDs up to Rs 5 crore. For FDs up to Rs 5 crore and 546-1,111 days, the bank is offering an interest rate of 9.25 per cent to general customers and 9.75 per cent to senior citizens.

NESFB FD Rates for Senior Citizens.
7 – 14 days: 3.75 percent
15 – 29 days: 4.25 percent
30 – 45 days: 4.75 percent
46 – 90 days: 5.25 percent
91 – 180 days: 6.75 percent
181 – 365 days: 7.50 percent
366 – 545 days: 9.25 percent
546 – 1111 days: 9.50 percent
1112 – 1825 days: 8.50 percent
1826 – 3650 days: 6.75 percent

Is it safe to keep money in NESFB?
Now the question arises, is it safe to keep money in North East Small Finance Bank? We inform you that in case of bank collapse or bankruptcy, the only relief a depositor has is the insurance cover provided by the Deposit Insurance and Credit Guarantee Corporation i.e. DICGC. North East Small Finance Bank Limited is registered with DICGC. This means that the amount deposited in the bank will be insured up to Rs.5 lakh.

If your money is deposited in any bank, you can check whether it is registered for deposit insurance or not by clicking on the link below.
Here is the link- https://www.dicgc.org.in/FD_ListOfInsuredBanks.html

Tags: Bank FD, FD Rates, Fixed Deposits, Money making tips