Suryoday Small Finance Bank FD Rates 2024
Suryoday Small Finance Bank, established in 2008, is a leading Non-Banking Finance Company (NBFC) headquartered in Maharashtra. The bank is widely known for offering a wide range of FD schemes featuring high-yielding interest rates and flexible tenure.
This article provides a comprehensive guide on Suryoday Small Finance Bank FD rates while highlighting all the associated details that you need to know.
Suryoday Small Finance Bank FD Rates 2024
The interest rates for fixed deposits at Suryoday Small Finance Bank vary based on the type of applicant. The bank provides different interest rates to different applicants. Let us delve into the varying interest rates offered to various applicants.
In the case of Domestic/NRO Applicants
Take a look at the following table and find out the prevailing Suryoday Bank FD rates that apply to Domestic and NRO applicants:
| FD Tenure | FD Interest Rates |
| 7 days to 14 days | 4.00% |
| 15 days to 45 days | 4.25% |
| 46 days to 90 days | 4.50% |
| 91 days to 6 months | 5.00% |
| Above 6 months to 9 months | 5.50% |
| Above 9 months to less than 1 Year | 6.00% |
| 1 Year | 6.85% |
| Above 1 Year to 15 months | 8.25% |
| Above 15 months to 2 years | 8.50% |
| Above 2 Years to 2 years 1 Day | 8.60% |
| 2 Years and 2 Days | 8.65% |
| 2 Years 3 Days up to less than 25 Months | 8.60% |
| 2 Years and 1 Month (25 Months) | 9.01% |
| More than 25 months up to 3 years | 8.60% |
| Above 3 Years to less than 5 Years | 6.75% |
| 5 Years | 8.25% |
| Above 5 years to 10 years | 7.25% |
In the case of NRE Applicants
The following table outlines the fixed deposit interest rates that apply to NRE customers of Suryoday Small Finance Bank in 2024:
| FD Tenure | FD Interest Rates |
| 1 Year | 6.85% |
| Above 1 Year to 15 months | 8.25% |
| Above 15 months to 2 years | 8.50% |
| Above 2 years to 2 years 1 Day | 8.60% |
| 2 years 2 Days | 8.65% |
| 2 Years 3 Days up to less than 25 Months | 8.60% |
| 2 Years and 1 Month (25 Months) | 9.01% |
| More than 25 months up to 3 years | 8.60% |
| Above 3 Years to less than 5 Years | 6.75% |
| 5 Years | 8.25% |
| Above 5 Years to 10 Years | 7.25% |
In the case of Individuals Applying for Non-Callable FD
Given below are the FD interest rates offered by Suryoday Small Finance Bank under the Non-Callable Fixed Deposit Scheme:
| FD Tenure | FD Interest Rates |
| 1 Year | 7.10% |
| Above 1 Year up to 15 months | 8.50% |
| Above 15 months up to 2 years | 8.75% |
| Above 2 years to 2 years 1 Day | 8.85% |
| 2 years 3 Days up to less than 25 Months | 8.85% |
| More than 25 Months up to 3 Years | 8.85% |
Suryoday Small Finance Bank FD Rates for Senior Citizens
Listed below are the Suryoday Small Finance Bank FD rates that are offered to senior citizen applicants:
| FD Tenure | FD Interest Rates |
| 7 days to 14 days | 4.50% |
| 15 days to 45 days | 4.75% |
| 46 days to 90 days | 5.00% |
| 91 days to 6 months | 5.50% |
| Above 6 months to 9 months | 6.00% |
| Above 9 months to less than 1 Year | 6.50% |
| 1 Year | 7.35% |
| Above 1 Year to 15 months | 8.75% |
| Above 15 months to 2 years | 9.00% |
| Above 2 Years to 2 years 1 Day | 9.10% |
| 2 Years and 2 Days | 9.10% |
| 2 Years 3 Days up to less than 25 Months | 9.10% |
| 2 Years and 1 Month (25 Months) | 9.25% |
| More than 25 months upto 3 years | 9.10% |
| Above 3 Years to less than 5 Years | 7.25% |
| 5 Years | 8.75% |
| Above 5 years to 10 years | 7.75% |
Types of Suryoday Small Finance Fixed Deposit Schemes
Here is a list of different types of fixed deposit schemes that you can avail from Suryoday Small Finance Bank in 2024.
- Domestic Fixed Deposit Scheme
Applicable to regular citizens, Domestic FD is the standard fixed deposit scheme offered by Suryoday Small Finance Bank. This fixed deposit option comes with traditional and cumulative/reinvestment plans. Additionally, the account holders get the choice to opt for auto-renewal of their investment under this type of scheme.
- Non-Callable Fixed Deposit Scheme
Suryoday Small Finance Bank's Non-callable FD is available for a tenure of 1 year to 3 years, with a minimum deposit requirement of Rs. 1 crore, unlike the domestic FD. This FD offers a nomination facility. However, premature withdrawal, loan against fixed deposits, and auto-renewal facilities are not provided.
- Tax-Saving Fixed Deposit Scheme
The Suryoday Small Finance Bank designed the Tax-saving Fixed Deposit Scheme for resident individuals and members of Hindu Undivided Families. Under this scheme, the bank allows a maximum investment of Rs.1.5 lakh. Individuals are required to mandatorily submit their PAN details to open an account and avail the tax benefits under Section 80C.
- Non-Resident External (NRE) Fixed Deposit Scheme
The NRE Fixed Deposit Scheme offered by the bank is a unique Rupee FD scheme designed specifically for Non-Resident Indians (NRIs), Persons of Indian Origin (PIOs), and Overseas Citizens of India (OCIs) to invest their foreign earnings. It comes with a low deposit requirement of Rs.10,000 and a free repatriability facility.
- Non-Resident Ordinary (NRO) Fixed Deposit Scheme
Another type of Rupee FD scheme, NRO fixed deposit, allows deposits that are earned in India. It has a regular tenure starting from 7 days, which goes up to 10 years. However, the amount of interest earned from this FD is subject to TDS (Tax Deducted at Source).
Lowest and Highest FD Interest Rate in Suryoday Bank
The following table shows the lowest and highest FD interest rates provided by Suryoday Small Finance Bank in the case of regular and senior citizens:
| Citizens | Lowest Interest Rate | Highest Interest Rate |
| Regular Citizens | 4.00% | 9.01% |
| Senior Citizens | 4.50% | 9.25% |
Suryoday Small Finance Bank FD Premature Withdrawal and Closure
Suryoday Small Finance Bank provides the option for premature FD withdrawal or closure to FD account holders. However, such withdrawals are subject to a penalty of 1%. Moreover, the interest income is payable for the tenure during which the FD investment remained with the bank, based on the rate that prevailed at the time of account opening.
Tax on Suryoday Small Finance Bank FD Interest Income
The interest income earned from the FD schemes of Suryoday Small Finance Bank, except for the tax-saving scheme, is subject to taxation as per the Income Tax Act of India of 1961. Through the tax-saving FD scheme, account holders can seek tax deductions up to Rs.1.5 lakhs from their annual taxable income. However, this benefit is only available for resident individuals and members of HUFs.
Regardless of whether you are a resident individual or NRI, Suryoday Small Finance Bank offers different types of FD schemes, each tailored to provide diverse benefits. Besides the high-yielding interest, you can easily avail of nomination, loan against FD and auto-renewal facilities by opening an FD account. However, it is in your best interest to go through all the associated terms and conditions carefully before prioritising the Suryoday Small Finance Bank FD rates.
Other Finance Bank FD Interest Rates:
1. Jana Small Finance Bank FD Rates
2. Ujjivan Small Finance Bank FD Rates
3. AU Small Finance Bank FD Rates
4. Utkarsh Small Finance Bank FD Rates
5. Small Finance Bank FD Rates
6. Equitas Small Finance Bank FD Rates
Frequently Asked Questions
Quick Summary
Suryoday Small Finance Bank offers various FD schemes with competitive interest rates for different applicant categories like Domestic/NRO, NRE, and senior citizens. They also provide different types of FD schemes including options for tax-saving, non-resident individuals, and non-callable deposits. Premature withdrawals are subject to a 1% penalty and interest income is taxable. The bank caters to both regular and senior citizens with rates ranging from 4% to 9.25%.
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