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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.)
Individuals have the option of choosing from two types of fixed deposits, namely:
Resident fixed deposits (less than Rs. 2 crores) with premature withdrawal facility
| Tenure of Deposit | General Public | Rate for Senior Citizens |
|---|---|---|
| 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 | 7.00% | 7.50% |
Resident fixed deposits (Rs. 1 crore to less than Rs. 2 crores) without premature withdrawal facility
| Tenure | General Public - w.e.f. 09 Sep 2019 |
|---|---|
| 182 days to 365 days | 7.10% |
| 1 year 1 day to 2 years | 8.30% |
| 2 years 1 day to 3 years | 8.50% |
| 3 years 1 day to 5 years | 7.50% |
Non-resident fixed deposits
| Tenure of Deposit | NRO | NRE |
|---|---|---|
| 7 days to 45 days | 4.00% | N.A. |
| 46 days to 90 days | 4.00% | N.A. |
| 91 days to 180 days | 6.00% | N.A. |
| 181 days to 364 days | 7.00% | N.A. |
| 12 months to 15 months | 8.00% | 8.00% |
| 15 months 1 day to 18 months | 8.25% | 8.25% |
| 18 months 1 day to 21 months | 8.50% | 8.50% |
| 21 months 1 day to 24 months | 8.75% | 8.75% |
| 24 months 1 day to 36 months | 9.00% | 9.00% |
| 3 years 1 day to 5 years | 8.00% | 8.00% |
Click here to know more about Bulk FD rates w.e.f. 25 Sep 2019 with premature withdrawal facility
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.
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.
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.
