AU Small Finance Bank has hiked interest rates on fixed deposits (FDs) at 8.50% per annum (p.a.) and an annualized yield upto 8.77% compounded quarterly. These interest rates are applicable for the tenor of 18 Months 1 Day to 24 Months. For FDs maturing between 13 months 1 day to 18 months, the interest rates have been increased to 8.25% from 7.75%.
Senior citizens will get benefit of 0.5% additional interest rate and an annualized yield of 9.31%. This hike in interest rates will make FDs more attractive for customers who wish to keep flexibility in their investments without compromising on the benefit of high returns.
AU Small Finance Bank is a small finance bank (SFB) that has recently transitioned from a prominent, retail focused non-banking finance company (NBFC), which primarily served low and middle-income individuals and businesses that have limited or no access to formal banking and finance channels.
