AU Small Finance Bank hikes rates of interest on mounted deposits and financial savings account
Amid the rates of interest uptrend attributable to the repo charge hike, AU Small Finance Bank has additionally joined the pattern to lift rates of interest. The financial institution has elevated its rates of interest on mounted deposits by as much as 60 foundation factors (bps) as of October 10, 2022, and it at present affords a most rate of interest of seven.00% on financial savings accounts. AU Small Finance Bank is at present providing rates of interest starting from 3.75% to six.95% on mounted deposits maturing in 7 days to 10 years for most of the people and 4.25% to 7.45% for aged individuals.
“With the recent spate of repo rate hikes announced by the RBI, we have increased the FD rates to extend the maximum benefit to our customers. Currently, we are offering one of the most competitive rates in fixed deposits in the industry,” Uttam Tibrewal, Executive Director, AU Small Finance Bank, stated.
AU Small Finance Bank FD Rates
On mounted deposits maturing in 7 days to 1 month 15 days, the financial institution will proceed to supply an rate of interest of three.75% and on deposits maturing in 1 month 16 days to three months AU Small Finance Bank will proceed to supply an rate of interest of 4.25%. Deposits maturing in 3 months 1 day to six months will now provide an rate of interest of 5.00% which was 4.75% a hike of 25 bps and deposits maturing in 6 months 1 day to 12 months will now provide an rate of interest of 5.85% which was earlier 5.35% a hike of fifty bps.
AU Small Finance Bank has hiked its rate of interest by 50 bps from 6.60% to 7.10% on deposits maturing in 12 months 1 day to fifteen months. The financial institution elevated the rate of interest on mounted deposits maturing in 15 months 1 day to 24 months by 50 foundation factors, from 6.45% to six.95%, and on deposits maturing in 24 months 1 day to 45 months by 60 foundation factors, from 6.90% to 7.50%. On deposits maturing in 45 months 1 day to lower than 60 months the rate of interest has been hiked from 6.45% to six.95% a hike of fifty bps and deposits maturing in 60 months to 120 months shall now pay an rate of interest of 6.95% which was earlier 6.90%.
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AU Small Finance Bank FD Rates (aubank.in) AU Small Finance Bank FD Rates For Senior Citizens
Resident senior citizen clients of AU Small Finance Bank will proceed to get an extra charge of 0.50% on deposits throughout all tenors.
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AU Small Finance Bank FD Rates For Senior Citizens (aubank.in) AU Small Finance Bank Savings Account Rates
The financial institution would give a 3.50% rate of interest on financial savings account balances lower than INR 1 lac, and a 5.00% rate of interest on financial savings account balances between INR 1 lac and INR 10 lacs. AU Small Finance Bank is now giving an rate of interest of 6.00% on financial savings account balances starting from INR 10 Lacs to INR 25 Lacs, with a most rate of interest of seven% on balances starting from INR 25 Lacs to INR 1 Crore. Customers will now get an rate of interest of 6.50% on financial savings account balances of INR 1 Crore to lower than INR 2 Crores, and an rate of interest of 6.25% on financial savings account balances of INR 2 Crore to lower than INR 5 Crores. AU Small Finance Bank at present affords a 6.00% rate of interest on financial savings account balances starting from INR 5 crore to lower than INR 10 crore. Savings account curiosity will likely be decided each day based mostly on the out there stability and paid by the financial institution at month-to-month intervals, i.e. on the finish of every month.
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AU Small Finance Bank Savings Account Rate (aubank.in)
With inputs from PTI
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