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Fincare Small Finance Bank Fixed Deposit

A fixed deposit is a type of financial instrument provided by banks and NBFCs that offers a higher rate of interest when compared with a savings account. A lump-sum sum amount is deposited into an FD account for a specific tenure at an agreed rate of interest. Since such deposits are not impacted by the fluctuations in the market, it is among the safest investment options available. Fixed deposits are also referred to as term deposits.

Fincare Small Finance Bank provides attractive interest rates and flexible pay-out options on their fixed deposits. Established in June 2017, Fincare Small Finance Bank is a retail bank with ‘Rurban’ focus. The company has its headquarters located in Bangalore, and its registered office in Ahmedabad, Gujarat. Fincare Business Services Ltd. is the holding company of Fincare Small Finance Bank.

(Note - All the information contained in this page has been sourced from the website of Fincare Small Finance Bank.)

Types of Fincare Small Finance Bank Fixed Deposit

Individuals have the option of choosing from two types of fixed deposits, namely:

Smart Fixed Deposit

  • High interest offered (up to 9%) on term deposits less than Rs. 2 crores
  • Flexible interest pay-out options - monthly, quarterly or cumulative FDs
  • Hassle-free renewal and pre-closure service
  • Higher interest rates offered to senior citizens - 0.5% or more

Priority Plus Fixed Deposit

  • Superior returns on corporate deposits
  • Hassle-free pre-closure terms (at minimal penalty)
  • Flexible interest pay-out options with priority plus deposits - monthly, quarterly or cumulative FDs
  • Proactive advisory

FD Interest Rates Offered by Fincare Bank

Resident fixed deposits (less than Rs. 2 crores) with premature withdrawal facility

Tenure of DepositGeneral PublicRate for Senior Citizens
7 days to 45 days4.00%4.50%
46 days to 90 days4.00%4.50%
91 days to 180 days6.00%6.50%
181 days to 364 days7.00%7.50%
12 months to 15 months8.00%8.50%
15 months 1 day to 18 months 8.25%8.75%
18 months 1 day to 21 months8.50%9.00%
21 months 1 day to 24 months8.75%9.25%
24 months 1 day to 36 months9.00%9.50%
3 years 1 day to 5 years8.00%8.50%
5 years 1 day to 7 years7.00%7.50%

Resident fixed deposits (Rs. 1 crore to less than Rs. 2 crores) without premature withdrawal facility

TenureGeneral Public - w.e.f. 09 Sep 2019
182 days to 365 days7.10%
1 year 1 day to 2 years8.30%
2 years 1 day to 3 years8.50%
3 years 1 day to 5 years7.50%

Non-resident fixed deposits

Tenure of DepositNRONRE
7 days to 45 days4.00%N.A.
46 days to 90 days4.00%N.A.
91 days to 180 days6.00%N.A.
181 days to 364 days7.00%N.A.
12 months to 15 months8.00%8.00%
15 months 1 day to 18 months 8.25%8.25%
18 months 1 day to 21 months8.50%8.50%
21 months 1 day to 24 months8.75%8.75%
24 months 1 day to 36 months9.00%9.00%
3 years 1 day to 5 years8.00%8.00%

Click here to know more about Bulk FD rates w.e.f. 25 Sep 2019 with premature withdrawal facility

How to Apply for Fincare Bank Fixed Deposit?

Individuals meeting the eligibility criteria set out by the bank can open a fixed deposit account with Fincare Small Finance Bank. Those looking to open a deposit account can visit the nearest branch office of the bank (this can be found on the website of the financial institution) and submit the relevant documents. The website of Fincare Small Finance Bank provides users the facility of submitting their enquiries online. On submission of the filled-up enquiry form, a customer representative will get in touch with the prospective customer and guide him or her in opening an FD account.

Fincare Bank Fixed Deposit Eligibility Criteria

Smart Fixed Deposit and Priority Plus Fixed Deposit can be opened for - single holder, joint holder deposit or for entities. For more information on the eligibility conditions, users are requested to get in touch with one of the bank’s customer representatives.

Documents Required for Fincare Bank Fixed Deposit

The documents required to open an FD account would be as per the KYC norms of the bank. According to the website of Fincare Bank, an Aadhaar and PAN card would be sufficient for opening a Smart FD account and Priority Plus Fixed Deposit.