North East SFB changes interest rates on fixed, recurring and savings bank deposits

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The North East Small Finance Bank (SFB) announced interest rate revisions on fixed deposits, recurring deposits and savings bank accounts amid rising interest rate trends. According to the bank’s official website, the new rates are effective as of today, September 16, 2022. The bank now offers a maximum rate of 7.75% on fixed deposits, 7.50% on recurring deposits and 6.00% on savings accounts as a result of the change.

North East Small Finance Bank (SFB) FD rate

The bank currently offers an interest rate of 3.00% on term deposits maturing between 7 and 29 days and an interest rate of 3.50% on term deposits maturing between 30 and 45 days. Term deposits with maturity between 46 and 90 days now pay 4.20% interest, and term deposits with maturity between 91 and 180 days now pay 4.75% interest . On term deposits with maturities between 181 and 365 days, the North East Small Finance Bank (SFB) will now offer an interest rate of 5.25%, and on deposits with maturities between 366 and 776 days, the bank will now guarantee an interest rate of 7.00%.

On term deposits maturing in 777 days the bank will now offer an interest rate of 7.50% and on term deposits maturing in 778 – 1095 days the bank will now offer an interest rate of 7.00%. Term deposits maturing between 1096 and 1110 days will now earn an interest rate of 6.50% and term deposits maturing between 1111 days and a maximum interest rate of 7.75%. The North East Small Finance Bank (SFB) will now offer an interest rate of 6.50% on term deposits maturing in 1112-1825 days and the bank is now promising an interest rate of 6.25% on term deposits maturing in 1826-3650 days.

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North East Small Finance Bank (SFB) FD rate (nesfb.com)

North East Small Finance Bank (SFB) RD rate

Recurring deposits (RD) are permitted by the North East Small Finance Bank (SFB) for terms of three months to ten years. The bank currently offers an interest rate of 4.25% on DRs with a 3-month maturity, and will now offer an interest rate of 4.50% on DRs with a 6-month maturity. The interest rate for DRs will now be 5.50% for those with a 9-month maturity and 5.50% for those with a 1-year maturity.

The North East Small Finance Bank (SFB) has announced that it will grant an interest rate of 7.50% on RDs with a maturity of 2 years and a rate of 7.00% on RDs with a maturity of 3 years. The bank currently offers an interest rate of 6.50% on DRs with a 5-year maturity and an interest rate of 7.00% on DRs with a 4-year maturity. DRs will now earn interest at a rate of 6.50% when they mature in more than 5 years and up to 10 years.

North East Small Finance Bank (SFB) RD rate

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North East Small Finance Bank (SFB) RD rate (nesfb.com)

North East Small Finance Bank (SFB) Savings Account Interest Rates

On the balance of the savings account of 0 – up to 4.99 Lacs, the bank now offers an interest rate of 4.00% and on the balance of the savings account of 5 Lacs – up to 25 Lacs the bank now promises an interest rate of 5.00%. Savings account with balance tranche of 25 lacs – up to 10 Crores will now get an interest rate of 5.50% and a savings account with a balance of 10 Crores to 25 Crores will now earn an interest rate of 5.75%. The North East Small Finance Bank (SFB) will now offer an interest rate of 6.00% on savings account balances of 25 Crores and above.

North East Small Finance Bank (SFB) Savings Account Interest Rates

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North East Small Finance Bank (SFB) Savings Account Interest Rates (nesfb.com)

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