AU Small Finance Bank raises interest rates on term deposits and savings accounts

Amid the trend of rising interest rates caused by rising repo rates, AU Small Finance Bank also joined the trend of raising interest rates. The bank has increased its interest rates on time deposits by up to 60 basis points (bps) effective October 10, 2022, and it currently offers a maximum interest rate of 7.00% on deposit accounts. ‘saving. AU Small Finance Bank currently offers interest rates ranging from 3.75% to 6.95% on term deposits with maturities of 7 days to 10 years for the general public and from 4.25% to 7.45% for old people.

“With the recent series of repo rate hikes announced by the RBI, we have increased FD rates to extend maximum benefits to our clients. Currently, we offer one of the most competitive rates in Term Deposits industry,” Uttam Tibrewal, Executive Director, AU Small Finance Bank, said.

AU Small Finance Bank FD Rates

On term deposits with a maturity of 7 days to 1 month 15 days, the bank will continue to offer an interest rate of 3.75% and on deposits with a maturity of 1 month 16 days to 3 months AU Small Finance Bank will continue to offer an interest rate of 4.25%. Deposits with a maturity of 3 months 1 day to 6 months will now offer an interest rate of 5.00% which was 4.75% an increase of 25 basis points and deposits with a maturity of 6 months 1 day at 12 months will now offer an interest rate of 5.85% which was earlier 5.35% an increase of 50 basis points.

AU Small Finance Bank raised its interest rate by 50 basis points from 6.60% to 7.10% on deposits with maturities of 12 months 1 day to 15 months. The bank raised the interest rate on term deposits at 15 months 1 day to 24 months by 50 basis points, from 6.45% to 6.95%, and on deposits with a maturity of 24 months 1 day to 45 months of 60 basis points, from 6.90% to 7.50%. On deposits maturing in 45 months 1 day to less than 60 months, the interest rate was raised from 6.45% to 6.95%, an increase of 50 basis points and deposits maturing in 60 months to 120 months will now pay an interest rate of 6.95% which was previously 6.90%.

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AU Small Finance Bank FD Rates (aubank.in)

AU Small Finance Bank FD Rates for Senior Citizens

Resident senior clients of AU Small Finance Bank will continue to enjoy an additional rate of 0.50% on deposits at all tiers.

AU Small Finance Bank FD Rates for Senior Citizens

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AU Small Finance Bank FD Rates for Senior Citizens (aubank.in)

AU Small Financial Bank Savings Account Rates

The bank would grant an interest rate of 3.50% on savings account balances below INR 1 lac and an interest rate of 5.00% on savings account balances between INR 1 lac and INR 10 lakes. AU Small Finance Bank now grants an interest rate of 6.00% on savings account balances ranging from INR 10 Lacs to INR 25 Lacs, with a maximum interest rate of 7% on balances ranging from INR 25 Lakes at INR 1 Crore. Customers will now enjoy an interest rate of 6.50% on savings account balances of INR 1 Crore to less than INR 2 Crore, and an interest rate of 6.25% on savings account balances from INR 2 Crore to less than INR 5 Crore. AU Small Finance Bank is currently offering an interest rate of 6.00% on savings account balances ranging from INR 5 crore to less than INR 10 crore. Interest on the savings account will be determined daily based on the available balance and paid by the bank at monthly intervals, i.e. at the end of each month.

AU Small Financial Banks Savings Account Rate

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AU Small Financial Banks Savings Account Rate (aubank.in)

With PTI entries

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