AU Small Finance Bank hikes FD rates to 7.4% for retail customers

AU Small Finance Bank has enhanced its fixed deposit offerings with competitive interest rates aimed at both retail and senior citizen investors. Regular depositors can earn up to 7.40% per annum, while eligible senior citizens are offered a higher rate of 7.90% per annum on qualifying deposits.

The maximum rates are available on fixed deposits with a tenure period of 30 months and one day through 36 months, providing investors with extended maturity options. This rate structure positions the bank competitively in the current interest rate environment as depositors seek better returns on their savings.

The enhanced rates reflect AU Small Finance Bank's focus on attracting deposits across different customer segments. Senior citizens, a key demographic for fixed deposit investments, benefit from an additional 50 basis points compared to regular customers, recognizing their higher capital availability and longer-term savings preferences.

Depositors interested in availing these rates are advised to check the bank's current offerings and eligibility criteria, as fixed deposit rates are subject to periodic revision based on market conditions and regulatory requirements.