Small finance banks like ESAF Small Finance Bank, AU Small Finance Bank, Fincare Small Finance Bank, and Ujjivan Small Finance Bank aim to cover under-served customers of the society. Their goal is to provide easy credit to farmers, small businesses, small industries and other unorganised sectors. When it comes to depositing their money, the general public often goes for popular banks like State Bank of India (SBI), ICICI Bank, and HDFC Bank, among others. Small finance banks may be ignored by people at large but even these banks have attractive interest rates.
Fixed deposit interest rates of small finance banks are as high as 9 per cent for the general public and 9.5 per cent for senior citizens. Even on savings bank accounts, ESAF Small Finance Bank, AU Small Finance Bank, Fincare Small Finance Bank, and Ujjivan Small Finance Bank offer as much as and even better than SBI, ICICI Bank and HDFC Bank.
Here are the interest rates offered on savings bank accounts by ESAF Small Finance Bank, AU Small Finance Bank, Fincare Small Finance Bank, and Ujjivan Small Finance Bank (according to their websites):
Savings bank account interest rates of ESAF Small Finance Bank