Small finance bank · DICGC insured up to ₹5 lakh
Suryoday Small Finance Bank Fixed Deposit
9.10%
General rate (p.a.)
9.60%
Senior citizens (+0.50%)
₹1,000
Minimum deposit
₹5 lakh
DICGC insured cover
Rate slabs
| Tenure slab | General | Senior |
|---|---|---|
| Short tenure (7 days – 6 months) | 6.25% | 6.75% |
| Mid tenure (12 – 18 months) | 8.25% | 8.75% |
| Best mid-term slab (2 – 3 years) | 8.60% | 9.10% |
| Highest slab (5 years) | 9.10% | 9.60% |
Worked example
A deposit of ₹1,00,000 grows to ₹1,19,925 over the tenure shown — ₹19,925 of interest, with quarterly compounding.
Interest payout options
- • Cumulative — interest compounds quarterly and pays at maturity.
- • Quarterly payout — regular income, slightly lower effective yield.
- • Monthly payout — discounted rate, best for retirees needing cash flow.
Deposits are insured by DICGC up to ₹5 lakh per depositor per bank, including principal and interest. Above that limit you carry bank credit risk — which is exactly why small finance banks pay more.
The honest view
What we like — and what to watch
A high rate always has a reason. Here it is, stated plainly.
Pros
- Among the highest FD rates in India today — up to 9.60% p.a.
- Bank-grade safety: deposits insured by DICGC up to ₹5 lakh per depositor.
- Low entry barrier — you can open an FD with just ₹1,000.
- Senior citizens get an extra 0.50% across tenures.
Cons
- It is a smaller bank, so keep your total deposit within the ₹5 lakh insured limit per depositor.
- Premature withdrawal usually costs about 1% off the applicable rate.
- Interest is fully taxable at your slab rate, with TDS above the threshold.
Comparison
Against other high-rate FDs
Small finance bank FDs, all DICGC insured up to ₹5 lakh.
| Bank | General | Senior | DICGC |
|---|---|---|---|
| Suryoday Small Finance Bank | 9.10% | 9.60% | Yes |
| North East Small Finance Bank | 9.40% | 9.90% | Yes |
| Unity Small Finance Bank | 9.00% | 9.50% | Yes |
| Utkarsh Small Finance Bank | 8.85% | 9.35% | Yes |
Taxation
How FD interest is taxed
Taxed at your slab
FD interest is added to your total income and taxed at your applicable slab rate — there is no special lower rate.
TDS thresholds
Banks deduct 10% TDS once annual interest crosses ₹50,000 (₹1,00,000 for senior citizens). Submit Form 15G/15H if eligible.
Declare it yourself
Report interest as accrued each year, even for cumulative FDs where cash only arrives at maturity.
How to invest
Three steps to open the FD
Step 1
Complete KYC
PAN, Aadhaar and a bank account. Usually approved the same day.
Step 2
Choose tenure and payout
Pick the slab that matches your horizon, and cumulative or periodic payout.
Step 3
Fund and confirm
Transfer from ₹1,000 upwards; the deposit receipt lands by email.
FAQ
Suryoday FD, answered
Is a small finance bank FD safe?
Deposits are insured by DICGC up to ₹5 lakh per depositor per bank, including principal and interest. Stay within that limit and your capital carries the same insurance as any scheduled bank.
What is the minimum deposit?
₹1,000, which makes it one of the most accessible high-rate FDs in India.
Do senior citizens really get more?
Yes — an extra 0.50% across tenures, so the top slab moves from 9.10% to 9.60% p.a.
Can I withdraw early?
Usually yes, with a penalty of about 1% off the applicable rate. Laddering tenures is a better plan than locking everything in one deposit.
Rates and the worked example on this page are indicative — verify Suryoday's current card rates before investing. Calculator output is an estimate using quarterly compounding.