Suryoday Bank 20 Years FD. Soon investors will have the option to get a fixed deposit (FD) for a period of 20 years. This facility is being launched by Suryoday Small Finance Bank. Till now most of the banks allow FD from seven days to 10 years, but now under this new scheme the bank is preparing to increase the maximum period of FD to 20 years.
Key points of the scheme:
Long Term FD: The bank will provide FD facility for a tenure of 20 years, which will give investors a long term investment opportunity.
Systematic withdrawal option: In a 20-year FD, investors will be given the facility to gradually withdraw money from their investment after 10 years. This option will be similar to the annuity plan of life insurance companies, but it will be for a limited period.
Benefits for Investors: This scheme will give the investors the benefit of keeping the money safe for a long time as per their requirement and later withdrawing the money gradually.
Its direct benefit will also be that instead of the interest rate which will be low in the long term, people will be able to book a good interest rate now for a long period, which will give them maximum profit.
Current Suryoday Bank FD Rates
Periodic Interest Rate
(Per Annum) Annualized Yield°
(%) Senior Citizen Rate ,
(Per Annum) Annualized Yield°
(%) 7 days to 14 days 4.00% 4.00% 4.50% 4.50% 15 days to 45 days 4.25% 4.25% 4.75% 4.75% 46 days to 90 days 4.50% 4.50% 5.00% 5.00% 91 days to 6 months 5.00% 5.00 % 5.50% 5.50% Above 6 months to 9 months 5.50% 5.61% 6.00% 6.14% Above 9 months to less than 1 Year 6.00% 6.14% 6.50% 6.66% 1 Year* 6.85% 7.03% 7.35% 7.56% Above 1 Year upto 15 months 8.25% 8.51% 8.75% 9.04% Above 15 months to 2 years 8.50% 8.77% 9.00% 9.31% Above 2 Years to 2 years 1 Day 8.60% 8.88% 9.10% 9.42% 2 Years & 2 Days 8.65% 8.93% 9.10% 9.42% 2 years 3 Days up to 3 Years 8.60% 8.88% 9.10% 9.42% Above 3 Years to less than 5 Years 6.75% 6.92% 7.25% 7.45% 5 Years 8.25% 8.51% 8.75% 9.04% Above 5 years to 10 years 7.25% 7.45 %7.75% 7.98%
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