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Non-Resident Fixed Deposits

Rate for amount < 2 Crore Non-Resident Deposits ( Effective: From March 01, 2024 )
For Fixed Deposit of amounts Rs. 2 Crore and above, please contact nearest Suryoday Small Finance Bank Branch or call Smile Centre on 1800-266-7711
Period NRE Interest Rate
(Per Annum)
Annualised Yield°
(%)
NRO Interest Rate
(Per Annum)
Annualised Yield°
(%)
7 days to 14 days NA 4.00% 4.00%
15 days to 45 days 4.25% 4.25%
46 days to 90 days 4.50% 4.50%
91 days to 6 months 5.00% 5.00%
Above 6 months to 9 months 5.50% 5.61%
Above 9 months to less than 1 Year 6.00% 6.14%
1 Year 6.85% 7.03% 6.85% 7.03%
Above 1 Year to 15 months 8.25% 8.51% 8.25% 8.51%
Above 15 months to 2 years 8.50% 8.77% 8.50% 8.77%
Above 2 years to 2 years 1 Day 8.60% 8.88% 8.60% 8.88%
2 years 2 Days 8.65% 8.93% 8.65% 8.93%
2 years 3 Days upto less than 25 months 8.60% 8.88% 8.60% 8.88%
2 Years and 1 month (25 months) 9.01% 9.32% 9.01% 9.32%
More than 25 months upto 3 years 8.60% 8.88% 8.60% 8.88%
Above 3 Years to less than 5 Years 6.75% 6.92% 6.75% 6.92%
5 Years 8.25% 8.51% 8.25% 8.51%
Above 5 Years to 10 Years 7.25% 7.45% 7.25% 7.45%

Note for Fixed Deposits:
  • For Fixed Deposit amounting to Rs. 2 Crore and above, please contact nearest Suryoday Small Finance Bank Branch or call on 1800-266-7711
  • Annualised yield is calculated on the basis of quarterly compounding for 12 months period
  • Interest rates are subject to change from time to time. Applicable interest rates will be given as on the date / time of receipt of the funds by the bank.
  • When you open a Fixed deposit with Suryoday Small Finance Bank Ltd. Interest on Term Deposits is calculated as below:
    1. On a Quarterly basis for deposits of tenor above 6 months.
    2. Simple interest is paid at maturity for deposits of less than equal to 6 months.
    3. Cumulative Interest/ re-investment interest is calculated every quarter and is added to the Principal such that Interest is paid on the Interest earned in the previous quarter as well.
    4. In case of monthly deposit scheme, the interest shall be calculated for the quarter and paid monthly at discounted rate over the Standard FD Rate.

  • Interest Computation on Term Deposits
  • Interest on Fixed Deposit is calculated in accordance with methodology and convention advised by Indian Banks' Association, as under:
    1. Interest shall be calculated at quarterly intervals on term deposits and paid at the rate decided by the Bank depending upon the period of deposits.
    2. For Traditional fixed deposits with quarterly payout, interest is calculated on the principal amount for completed quarters and then for the balance period, interest is calculated for completed months and further for incomplete month on actual number of days. In case of monthly pay-out, the interest shall be paid monthly at discounted rate.
    3. For Cumulative deposits, interest is compounded quarterly on completion of exact quarters. For the broken period beyond completed quarters, the amount is calculated proportionate to the period in the quarter
    4. Offered rate will be applicable to the FDs booked under short term Regular product. In case of premature withdrawal, the interest is calculated on the principal amount for completed quarters and then for the balance period, interest is calculated for completed months and further for incomplete month on actual number of days.
    5. “For FDs with Monthly/Quarterly Interest pay out, Interest payment gets triggered at start of the last day of the month/quarter and therefore system calculates interest up to the penultimate date of the month/quarter”. There would be no loss of interest to the customer over the tenure of the deposit as the applicable interest will be paid for the entire period, till the date of maturity or closure, whichever is earlier
    6. In case of premature withdrawal for closure or renewal or partial withdrawal of term deposits, interest shall be paid for the period the deposit remained with the bank at a rate of interest prevailing on the date of booking of the deposit for such tenor, less the applicable penalty of 1%.
    7. As interest rates are subject to change without prior notice, depositor shall ascertain the rates on the value date of FD.
    8. NRE fixed deposits can be accepted for a minimum period of one year and a maximum period of ten years
    9. The additional rate of interest on fixed deposits to senior citizens does not apply to NRE and NRO FD.
    10. Interest is not paid on NRE FD if the same is prematurely closed within a period of 1 year.
    11. For NRO FD, the maturity amount indicated is subjected to TDS as applicable from time to time, however no TDS is applicable in case of NRE FD
Note for Fixed Deposits:
  • For Fixed Deposit amounting to Rs. 1 Crore and above, please contact nearest Suryoday Small Finance Bank Branch or call on 1800-266-7711
  • *- Special tenures
  • °- The annualized yield is the effective annual rate of return taking into account the effect of compounding interest.
  • Interest rates are subject to change from time to time. Applicable interest rates will be given as on the date / time of receipt of the funds by the bank.
  • When you open a Fixed deposit with Suryoday Small Finance Bank Ltd. Interest on Term Deposits is calculated as below:
    1. On a Quarterly basis for deposits of more than 180 days.
    2. Simple interest is paid at maturity for deposits of less than equal to 180 days.
    3. Cumulative Interest/ re-investment interest is calculated every quarter, and is added to the Principal such that Interest is paid on the Interest earned in the previous quarter as well.
    4. In case of monthly deposit scheme, the interest shall be calculated for the quarter and paid monthly at discounted rate over the Standard FD Rate.
  • The Bank computes interest based on the actual number of days in a year. In case, the Deposit is spread over a leap and a non-leap year, the interest is calculated based on the number of days i.e.,366 days in a leap year & 365 days in a non-leap year. The period of Fixed Deposit is calculated in number of days.
    1. Rate for original /contracted tenure for which the deposit has been booked (as on the date of booking the deposit).
    2. Rate for the actual tenure for which the deposit was in force with the Bank (as on the date of booking the deposit).
  • As interest rates are subject to change without prior notice, depositor shall ascertain the rates on the value date of FD.
  • NRE fixed deposits can be accepted for a minimum period of one year and a maximum period of ten years.
  • The additional rate of interest on fixed deposits to senior citizens does not apply to NRE and NRO FD.
  • Interest is not paid on NRE FD if the same is prematurely closed within a period of 1 year.
  • For NRO FD, the maturity amount indicated is subject to TDS as applicable from time to time, however no TDS is applicable in case of NRE FD.
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