Small Finance Banks Pay Up To 9.5% Interest On Fixed Deposit: Maturity Period, Deposit Limit And Other Details

Small Finance Banks Pay Up To 9.5% Interest On Fixed Deposit: Maturity Period, Deposit Limit And Other Details

FD interest rate: Small finance banks pay an annual return of up to 9.5% on deposits below Rs. 1 crore

Small finance banks – which are banks aimed primarily at financial inclusion – pay interest rates in a range of 3.5-9.5 per cent on FDs or fixed deposits of up to Rs. 1 crore. These lenders, such as Equitas Small Finance Bank, AU Small Finance Bank, Suryoday Bank, Jana Small Finance Bank, Fincare Small Finance Bank, ESAF Small Finance Bank and Utkarsh Small Finance Bank, provide a variety of maturity periods, from as short as seven days to as long as 10 years. In contrast to market-linked instruments such as equity or mutual funds, FDs provide a fixed return over a pre-defined maturity period, known as term or lock-in. Financial planners often suggest fixed deposit for investors with a low risk appetite.

Here’s a comparison of interest rates paid by these small finance banks on fixed deposits of up to Rs. 1 crore:

Equitas Small Finance Bank

Maturity period (term) Interest rate with effect from July 5, 2018
7 – 14 days 5.00%
15 – 29 days 5.50%
30 – 45 days 6.00%
46 – 62 days 6.25%
63 – 90 days 6.25%
91 – 120 days 6.50%
121 – 180 days 6.50%
181 – 210 days 6.75%
211 – 270 days 6.75%
271 – 364 days 7.50%
1 year to 18 months 8.00%
18 months 1 day to 2 years 7.75%
2 years 1 day to 3 years 7.75%
3 years 1 day to 4 years 7.00%
4 years 1 day to 5 years 7.00%
5 years 1 day to 10 years 7.00%

AU Small Finance Bank

Maturity period (term) Interest rate with effect from October 10, 2018
General Senior citizen
7 Days to 1 Month 15 Days 5.50% 6.00%
1 Month 16 Days to 3 Months 6.75% 7.25%
3 Months 1 Day to 6 Months 6.90% 7.40%
6 Months 1 Day  to 13 Months 7.00% 7.50%
13 Months 1 Day to 18 Months 8.25% 8.75%
18 Months 1 Day to 24 Months 8.50% 9.00%
24 Months 1 Day to 36 Months 7.75% 8.25%
36 Months 1 Day to 45 Months 7.75% 8.25%
45 Months 1 Day to 60 Months 8.00% 8.50%
60 Months 1 Day to 120 Months 7.25% 7.75%

Suryoday Bank

Maturity period (term) Interest rate with effect from September 29, 2018
General Senior citizen
7 days to 14 days 4.00% 4.50%
15 days to 45 days 4.00% 4.50%
46 days to 90 days 5.00% 5.50%
91 days to 180 days 5.50% 6.00%
181 days to 240 days 7.50% 8.00%
241 days to less than 1 Year 7.75% 8.25%
1 Year to 2 Years 8.50% 9.00%
Above 2 Years to 3 Years 8.75% 9.25%
950 Days* 9.00% 9.50%
Above 3 Years to less than 5 Years 8.00% 8.50%
5 Years 8.25% 8.75%
Above 5 Years to 10 Years 7.25% 7.75%

Jana Small Finance Bank

Maturity period (term) Interest rate with effect from October 17, 2018
7 days to 45 days 6.00%
46 days to 60 days 6.50%
61 days to 180 days 7.00%
181 days to 365 days 8.00%
More than 1 year up to 2 years 8.25%
More than 2 years up to 3 years 8.50%
More than 3 years up to 5 years 8.00%
More than 5 years up to 10 years 7.00%

Fincare Small Finance Bank

Maturity period (term) Interest rate
General Senior citizen
7 days to 45 days 4.00% 4.50%
46 days to 90 days 4.00% 4.50%
91 days to 180 days 6.00% 6.50%
181 days to 364 days 7.00% 7.50%
12 months to 15 months 8.00% 8.50%
15 months 1 day to 18 months 8.25% 8.75%
18 months 1 day to 21 months 8.50% 9.00%
21 months 1 day to 24 months 8.75% 9.25%
24 months 1 day to 36 months 9.00% 9.50%
3 years 1 day to 5 years 8.00% 8.50%
5 years 1 day to 7 years 7% 7.50%

ESAF Small Finance Bank

Maturity period (term) Interest rate with effect from April 1, 2018
General Senior citizen
7 – 14 days 5.75% 6.25%
15 – 59 days 5.75% 6.25%
60 – 90 days 6.50% 7.00%
91 – 179 days 6.75% 7.25%
180 – 363 days 7.50% 8.00%
364 days 5.60% 6.10%
365 – 727 days 8.75% 9.25%
728 days 6.80% 7.30%
729 – 1091 days 8.00% 8.50%
1092 days 5.66% 6.16%
1093 – 1819 days 7.00% 7.50%
1820 days 5.65% 6.15%
1821 – 3652 days 7.00% 7.50%

Utkarsh Small Finance Bank

Maturity period (term) Interest rate with effect from September 27, 2018
General Senior citizen
7 Days to 15 days 3.50% 4.00%
16 Days to 28 Days 3.50% 4.00%
29 Days to 45 Days 4.00% 4.50%
46 Days to 90 Days 4.50% 5.00%
91 Days to 120 Days 5.00% 5.50%
121 Days to 179 Days 5.50% 6.00%
180 Days to 210 Days 6.00% 6.50%
211 Days to 270 Days 7.00% 7.50%
271 Days to less than 1 Year 7.50% 8.00%
1 Year to 455 Days 8.50% 9.00%
456 Days to less than 2 years 9.00% 9.50%
2 Years to less than 3 Years 7.85% 8.35%
3 Years to less than 5 Years 7.00% 7.50%
5 Years 8.00% 8.50%
More than 5 Years to 10 Years 7.00% 7.50%

Across many maturities, small finance banks pay higher interest rates on FDs compared to their larger counterparts.


The 19 Best Places To Travel In 2019

What’s on your travel wish list for 2019? We tapped into some of the world’s top travel experts to find out where they want to go next. From a colorful beach town in Belize that is slowly becoming discovered to an unexpected European country with a vibrant new arts scene, here are the most exciting places to travel in 2019.

Belmond Cap Juluca on Anguilla.Photo courtesy of Belmond Cap Juluca

Where: Anguilla, Caribbean

Chosen By: Tiffany Dowd is a global luxury hotel expert and luxury travel influencer known as “Luxe Tiffany” and founder of Luxe Social Media. Follow her on Instagram and Twitter.

Why: You’ll be hard pressed to find beaches more spectacular in the Caribbean than on the beautiful British overseas territory of Anguilla. From long stretches of pristine white sand on Rendezvous Bay to the sparkling Maundays Bay, Anguilla is a honeymoon hot spot and also ideal for family holidays. The iconic Belmond Cap Juluca will soon reopen on December 15th after a complete renovation and will feature a brand new oceanfront infinity edge pool as well as a touch of Venetian glamour at the new Cip’s by Cipriani restaurant. There will also be a new Cap Shack, where you’ll sip rum punch and dine on beach BBQ tapas from a food truck while swaying to cool calypso tunes under the stars.

A bird’s-eye view of Montage Los Cabos.Photo courtesy of Montage Los Cabos


Where: Los Cabos, Mexico

Chosen By: Michaela Guzy is a media executive, entrepreneur and on-air show host. She is the executive producer for two online television shows, Michaela’s Map and OhThePeopleYouMeet. Based in New York City, she is also an adjunct professor at New York University School of Professional Studies, where she teaches a course called “Travel Storytelling: Creating Video Content.”

Why: You might think you know about Los Cabos, but did you know that one of the largest, protected national marine parks in the world is just 60 miles south? Cabo Pulmo National Park used to be heavily overfished before the park became officially protected in the 90s; it’s also a UNESCO site because of its rich biodiversity, high marine productivity and beauty. Cabo Pulmo stretches five miles along the coast of Baja California Sur and houses the oldest living reef of on the west coast of North America. (Fishermen have been taught how to be dive masters to keep the ocean healthy and full of fish.) There, you can find sea turtles, sea lions, dolphins and humpback whales. Thanks to the success of the national marine park, travelers can now kayak, go stand-up paddleboarding or snorkel/scuba dive with sea lions and even (friendly) bull sharks. Back in Los Cabos, visit chef Enrique Silva’s working organic farm and restaurant at Los Tamarindos, where you can pick your produce and make a meal with him. There are a number of hotels to check out, including a recently opened Montage Los Cabos and the forthcoming Four Seasons Costa Palmas, slated to open in 2019. My pick: the sustainable Hotel El Ganzo, which has an artist-in-residence program and a music recording studio. The hotel also supports the children’s community art center across the street.

A tented room at Fairmont Mara Safari Club.Photo courtesy of Fairmont Mara Safari Club

Where: Kenya

Chosen By: Natalie Beauregard is the travel guides editor at AFAR, where she covers emerging travel destinations and best hotels.

Why: Kenya Airways just started offering direct flights from New York’s JFK to Nairobi, which is going to open the idea of a safari to so many people, since it used to take multiple connections to get to Kenya. This spring, Delta will also start flying direct from Atlanta to Nairobi. In Kenya, I love the Fairmont, which has three properties across the country. Nairobi’s Fairmont The Norfolk is focused not just on being a hotel, but being a cultural center by showcasing the city’s vibrant culture with exhibitions by Kenyan artists and local fashion designers. At the Fairmont Mount Kenya Safari Club Resort, the property is running conservancy efforts to protect the animals as well as the culture of the people who live there. The Fairmont Mara Safari Club provides the quintessential safari experience: Nowhere else in Africa can you get so close to the animals.

Overlooking glacial Black Lake in Montenegro. PHOTO: GETTY

Where: Montenegro

Chosen By: Joanna Kuflik is director of services at Marchay, a membership-based community that plans luxury travel experiences for a select elite worldwide.

Why: With breathtaking scenery, undiscovered beaches, UNESCO World Heritage towns, a burgeoning wine culture and incredible Southern European cuisine, this country should be on everyone’s radar for 2019. While it used to be considered a stopover that travelers combined with its popular neighboring country, Croatia, this Adriatic paradise has experienced a development boom this past year, making it a perfect country to explore on its own. The legendary Aman Sveti Stefan, a fortified island that dates to the 15th century, is the go-to spot for rest and relaxation with its pink-sand beach and killer spa. In nearby Tivat, the glitzy Regent Porto Montenegro is a prime place for shopping, socializing, beach clubs and boating; a St. Tropez scene, though at a more reasonable price. Meanwhile, the recently opened Chedi Lustica Bay, part of the new Lustica Bay Marina Village, is one of seven hotels to be built in this area, complete with an 18-hole golf course, along with the One & Only Portonovi, due to be finished by the end of next year. With luxury accommodations now able to match its stunning surroundings, Montenegro is a place to put on your horizon in the new year.

An aerial view of Itz’ana in Placencia, Belize.Photo courtesy of Itz’ana

Where: Placencia, Belize

Chosen By: Jeri Clausing is the contributing editor for luxury at Travel Weekly.

Why: When you think of Belize, you think of the cays or the inland eco resorts. But further sound on the mainland is Placencia, a cute waterfront fishing village with bright houses and buildings that is slowly being discovered. It’s also home to Itz’ana, the first luxury resort in the area. The owner collects Mayan artifacts, and this is his second independent hotel in Belize (the first was Ka’ana in San Ignacio). At Itz’ana, the lobby is designed to feel like you’re in a guest house, not a hotel. In addition to the stunning rooms in the main property, there are also villas with private plunge pools.

The Taj Tashi in Bhutan.Courtesy of Taj Hotels

Where: Bhutan

Chosen by: Juliana A. Saad is a Brazilian writer and editor who specializes in travel, lifestyle and luxury. Her company, MMJX Comunicação, produces develops special editorial content and projects for numerous publications and companies.

Why: Bhutan is ideal for everything, with a peace and calm that you don’t experience anywhere else. It transports you to another culture with different values than what we are used to. You can also challenge yourself to trek to places like the Tiger Nest, a cliffside Buddhist temple. There are great hotels, like the Taj Tashi in Thimphu, which is modeled after a Bhutanese temple and has wonderful amenities, like a signature spa that uses oils from the Himalayas. Amanjiwo in Paro is spectacularly beautiful with a trail between the different lodges in Bhutan.

A view of a volcanic lake on San Miguel Island in the Azores. PHOTO: GETTY

Where: The Azores

Chosen By: Michele Wise is a travel advisor with KK Travels Worldwide. Michele travels constantly, seeking out new, unique destinations for her clients, which include families, couples, multi-gen groups and girlfriends, as well as wellness and incentive travelers.Follow her travels on Instagram @michele.wise

Why: Portugal is on everyone’s radar right now, however, new to the scene is the Azores, a set of beautiful islands that are situated in the middle of the Atlantic. With new, seasonal nonstop flights on Delta Air Lines from New York’s JFK, the Azores are now very easy to reach. The Azores are known for outdoor adventure along with historical and cultural charm. These islands have something for everyone: vineyards, volcanic crater lakes, world-class whale watching, hot springs, UNESCO protected landscapes, natural swimming pools, thermal springs, diving, surfing, waterfalls — this destination is one big playground that’s rich in natural beauty. Rest your head at the lovely Furnas Boutique Hotel, which has a thermal swimming pool that is nice to come home to after a day of sightseeing. You can visit its sister property, Azor Hotel in Ponta Delgada and relax at the rooftop pool, which has amazing views of the city and the port. Looking for something off the beaten path? Santa Barbara Eco Hotel sits on cliff overlooking the Atlantic and is popular with surfers, while White Exclusive Suites & Villas is an intimate spot on the south side of the island with breathtaking ocean views from the infinity pool.

Glamping at Belmond Savute Elephant Lodge.Photo courtesy of Belmond

Where: Botswana

Chosen By: Fernanda Costa Gama Logemann is the founder of the Brazil-based travel platform, Spice up the Road, which is focused on sharing the most exclusive travel experiences around the world and the best tips for food, hotels and attractions. Spice up the Road is also a column in the lifestyle magazine Revista Donna.

Why: I am always looking for unforgettable adventures and authentic experiences, so glamping (upscale camping) is a trend that I am really excited about. It’s the perfect way to disconnect from your routine and connect with wildlife and nature, but still have the opportunity to enjoy the kind of comfort and luxury that makes a difference in a stay. Want a great way to experience the glamorous and unique world of glamping? The Belmond Savute Elephant Lodge has just reopened and is located in the heart of Chobe National Park in Botswana, offering beautiful lodges and amazing wildlife viewing in the savannah.

A Mexico City panorama after dark. PHOTO: GETTY

Where: Mexico City

Chosen By: Based in Mexico City, María Pellicer has been working in the travel industry for the past decade. Formerly the editor in chief of Travesias magazine, she now oversees all the editorial projects in the company.

Why: Mexico City is going very strong, and I’m not saying that because I’m a local. Just check out the number of hotels that are opening here. Now, joining Ritz-Carlton and Park Hyatt, Kimpton and Sofitel have both announced they will open in Mexico’s capital. This clearly speaks to a rising interest among tourists to explore our city — and I’m pretty sure our gastronomic scene has a lot to do with that, too.

Silversea’s Silver Cloud will be traveling to Iceland in 2019.Photo courtesy of Silversea

Where: Iceland

Chosen By: An avid traveler, Tania L Swasbrook grew up in the travel industry. She specializes in ultra luxury travel with a particular passion for wellness, romance and adventure.

Why: From waterfalls and glaciers to whale-watching and puffins, Iceland is a place like none other. In 2019, the way to see it is with Silversea, which is venturing to Iceland with Silver Cloud, the finest and most elegant expedition ship float. She will be circumnavigating the land of fire and ice in August of 2019, and only 250 lucky guests will be able to experience the beauty of this mystical country so close up.

A view of Paseo del Prado in Havana, Cuba. PHOTO: GETTY

Where: Havana, Cuba

Chosen By:  Jill K. Robinson writes about travel, adventure, food and drink for AFAR, National Geographic Traveler, Travel + Leisure, Robb Report and more. Her magazine and newspaper articles have won Lowell Thomas, Society of American Travel Writers, and American Society of Journalists and Authors awards.

Why: One of the things that got my attention recently was the announcement of the first SO/ property in the Americas. The SO/ Havana Paseo del Prado is expected to open in early 2020, at the intersection of Paseo de Marti and the Malecón in the heart of Havana. The property will feature the creative signature of Spanish designer Agatha Ruiz de la Prada, who has been inspired by the world of Cuban dance for the glamorous, yet playful hotel. I have to admit that my initial reaction was selfish, because I traveled in Cuba for my honeymoon in 2001, so I’m already planning to celebrate the opening and my wedding anniversary in Havana.

The pool at Hotel Casa San Agustin in Cartagena.Photo courtesy of Hotel Casa San Agustin

Where: Cartagena, Colombia

Chosen By: Haisley Smith is the vice-president of marketing and business development for Brownell, the agency of choice for intrepid travelers since 1887. Smith looks for properties with personality, cruises with creativity and experiences that excite the senses on behalf of the luxury agency powerhouse.

Why: Cartagena is a riot of color, cuisine and culture. Where to stay? Casa San Agustin is situated in the center of the action inside the city walls. It’s a romantic getaway with unique features, like a pool running beneath a centuries old aqueduct.

The pool at the InterContinental Ljubljana.Photo courtesy of InterContinental Ljubljana

Where: Ljubljana, Slovenia

Chosen By: Tiffany Dowd is a global luxury hotel expert and luxury travel influencer known as “Luxe Tiffany” and founder of Luxe Social Media. Follow her on Instagram and Twitter.

Why: Discover one of Europe’s most charming places in Ljubljana, Slovenia. It’s a young and lively city that should be hot on everyone’s radar. For a unique perfective and beautiful views, sail the Ljubljanica River on a traditional wooden boat to experience the city. The new InterContinental Ljubljana is the perfect place to stay for a luxurious and modern chic experience. The hotel has a great location near the train station, Old Town and Park Tivoli. You’ll find some of the most spectacular views from its rooftop B-Bar and B by Alfredo Russo restaurant.

A hacienda at Chable in Merida, Mexico.Photo courtesy of Chable.

Where: Mérida, Mexico

Chosen By: Michaela Guzy is a media executive, entrepreneur and on-air show host. She is the executive producer for two online television shows, Michaela’s Map and OhThePeopleYouMeet. Based in New York City, she is also an adjunct professor at New York University School of Professional Studies, where she teaches a course called “Travel Storytelling: Creating Video Content.”

Why: Sunrise yoga on the banks of a sacred Mayan cenote? Sí, por favor! This is just one of the magical wonders you’ll discover at Chable Resort, in a 250-year-old converted hacienda just outside Merida, Mexico. But Chable is more than just a wellness retreat with a world-class spa. It incorporates indigenous Mayan traditions and healing into treatments, like a temezcal under the careful eye of the Résident Abuela Ak’bal, a spiritual leader. After a mind, body, soul connection, take a dip in the thermal pools. For golf lovers, a Pitch & Putt will open in January 2019, and the well-curated gift shop features only Mexican designers. No visit to Mexico is complete without tasting the local cuisine and tequila. An estimated 40% of produce and herbs used at Chable are grown on its own farm, utilizing traditional Mayan techniques. At Ixi’im Restaurant, executive chef Luis Ronzon works hand in hand with star chef Jorge Vallejo, known for his award-winning restaurant, Quintonil, in Mexico City. Ixi’im also has the world’s largest tequila collection (in terms of bottle design), with 3,500 on display. And you must not miss the handmade tortillas at the Palapa Maya, where Doña Eneida — the village’s grandmother and Chable’s Yucatan chef — cooks her family’s recipes for guests.


Facebook takes down 82 more pages tied to Iran that were posting politically charged memes

Facebook CEO, Mark Zuckerberg

Matt McClain | The Washington Post | Getty Images
Facebook CEO, Mark Zuckerberg

Facebook said Friday it has taken down 82 more pages and accounts with ties to Iran that were posting politically charged memes.

A combined 1 million users followed at least one of the accounts, which were live on both Facebook and Instagram. The accounts formed Facebook groups and hosted Facebook events — consistent with the online activity of previously detected fake accounts.

The most recently removed accounts were first detected late last week and spent less than $100 on two advertisements across the two platforms. The first ad ran in January 2016 and the second ran in January 2018, Facebook said.

Though some of the accounts were live as early as 2016, they were most active in the past year, Facebook’s head of cybersecurity policy Nathaniel Gleicher said on a call with media.

It’s the latest in a series of updates from Facebook on continued misinformation efforts taking place on the platform. The company previously identified Russia and Iran as the source of potential state-sponsored campaigns.

In August, Facebook — along with other social sites like Twitter and Google — said it had removed more than 600 pages and accounts from Russia and Iran that it found to be engaging in what it called “inauthentic behavior.”

The company found some overlap and links between the accounts removed in August and the accounts removed on Friday, Gleicher said.

Facebook is boosting its detection efforts and take-down rates in light of foreign efforts to stir up social debate around the 2016 presidential election and the upcoming midterm elections in November.

But the company’s been relatively limited in the information it’s shared about the actors or action, declining to assign motivation or provide details like how many people indicated they would attend one of the Facebook events hosted by the accounts, for example.

Here are some of the posts made by the most recently removed accounts, as provided by Facebook:


Here’s how to watch the Xiaomi Mi Mix 3 event live

The season for the slider smartphones begins with the launch of Xiaomi Mi Mix 3. The device is going official today at an event in Beijing, China, taking place between the walls of the Forbidden City. We are already at the venue to learn everything about the Mi Mix 3, and here’s how you can watch the event that starts at 2PM local time or 6AM UTC.

The new Xiaomi flagship will arrive with 5G capabilities and up to 10 GB RAM, the company confirmed. It will have a 24 MP AI front-facing camera, hidden behind the screen that can pop up with a simple slide.

That allows the phone to reach massive amounts of screen-to-body ratio, with the actual percentage to be revealed later.

To watch the whole unveiling, follow the Source link below


Avanti Finance appoints CEO; operations to start next year

Avanti Finance, founded by corporate bigwigs like Ratan Tata and Nandan Nilekani, on Thursday announced appointment of Rahul Gupta as its Chief Executive Officer.

The company targets to begin full-scale operations in the first half of 2019, with a goal to serve 100 million households in the next five years, the company said in a statement.

The other founder members include reputed economist Vijay Kelkar and Managing Trustee of the Sir Dorabji Tata Trust R Venkataramanan.

Avanti has been conceived as a financial inclusion model with a mission to provide timely, affordable credit to the unserved and under-served segments leveraging new age digital technologies, it said.

  • “The funding for Avanti has come from the personal philanthropic capital of Tata and Nilekani, and their returns will be redeployed into philanthropy. Avanti’s objective carries forward the goals of the Tata Trusts in striving for socio-economic development in the hinterlands of the country for the last 126 years,” it said.

The Avanti platform leverages India’s digital infrastructure, and will partner with social sector players and community organisations and it has begun pilots in Bihar, Uttar Pradesh and Uttarakhand.

Prior to joining, Gupta was with GE Money as managing director for the full suite of its businesses for the 10 countries of the ASEAN region.

Commenting on the appointment, Ratan N Tata said, “Rahul possesses the experience of leading consumer finance both in India and developed countries.