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HomeBusinessAU Bank Bid To Raise Elders’ Interest

AU Bank Bid To Raise Elders’ Interest

8% On FD For Seniors, 6.5% On S/B

Uttam Tibrewal, Executive Director, AU Small Finance Bank, said, currently, the bank is offering one of the most competitive rates for FD

HYDERABAD, Oct 12 (The CONNECT) – AU Small Finance Bank, the largest Small Finance Bank and one of the fastest-growing retail Banks in India, has announced an increase in fixed deposit interest rates so that customers can get maximum return on their investments.

The Bank has hiked the FD rates by up to 60 basis points for retail deposits from 6.9 percent to 7.5 percent for regular customers and 7.4 percent to 8 percent for senior citizens. With this hike, the bank is offering one of the most competitive FD interest rates. Given the rising inflation, AU Bank provides an opportunity to customers, particularly senior citizens to get inflation-beating returns from their fixed deposits.

There is also an increase in the Savings deposit rate by 50 basis points in the balance buckets of Rs. 1 Crore to less than Rs. 2 Crore, thereby taking it to 6.5% p.a. Moreover, the Bank continues to offer a higher interest rate of 7% p.a. for balance buckets of Rs. 25 Lakh to less than Rs. 1 Crore.

Uttam Tibrewal, Executive Director, AU Small Finance Bank, said, currently, the bank is offering one of the most competitive rates in fixed deposits in the industry.

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