Interest for 3 years
Note: All interest rates shown below are as on 24th Jun 2021
|Tenure||Normal Citizen FD Rate||Senior Citizen FD Rate|
|7 days - 1 month 15 days||3%||3.5%|
|1 month 16 days - 2 months 29 days||3.25%||3.75%|
|3 months - 5 months 27 days||3.5%||4%|
|6 months - 11 months 30 days||5%||5.5%|
|1 year - 1 year 6 months 2 days||5.6%||6.1%|
|1 year 6 months 3 days - 5 years 6 months 1 day||6%||6.5%|
|2 years 1 day - 4 years 11 months||6.25%||6.75%|
|3 years - 3 years 6 months 1 day||6.5%||7%|
|5 years 6 months 2 days - 6 years 11 months 29 days||5.5%||6%|
Fincare Small Finance Bank had commenced its operation in 2017. The bank has a balance sheet size of Rs. 7
0% - 6.5%
0% - 7%
FD Rate for Seniors
₹ 2 Crores
Flexible tenure & partial withdrawal facility, without the hassle of opening a savings account.
|Investment Amount||For 3 years with interest of 5.5%||For 5 years with interest of 5.5%|
|₹ 1 lakh||₹131570||₹131570|
|₹ 2 lakh||₹263141||₹263141|
|₹ 5 lakh||₹657852||₹657852|
|₹ 10 lakh||₹1315704||₹1315704|
Use FD calculator to change values and compare your returns from top banks.
|Maturity Amount||₹105746||₹ 101764|
|Total Investment Amount||₹ 100000||₹ 100000|
|Total Interest Gained||₹5746|
|Income Tax on Wealth Gained||₹ 12898||₹ 13092|
|Bank Name||FD Interest Rates|
|Dhanlaxmi Bank||5.4% - 5.9%|
|Tamilnad Mercantile Bank||5.5% - 5.5%|
|IDBI Bank||5.3% - 5.8%|
|Bank of India||5.15% - 5.65%|
|Sundaram Finance||6.25% - 6.75%|
|AU Small Finance Bank||6.25% - 6.75%|
|Canara Bank||5.5% - 6%|
|Axis Bank||5.4% - 5.9%|
|Mahindra Finance||6.3% - 6.55%|
|PNB Housing Finance Ltd||6.6% - 6.85%|
|IDFC First Bank||5.75% - 6.25%|
|State Bank of India||5.3% - 5.8%|
|HDFC Bank||5.15% - 5.65%|
|Bank of Baroda||5.1% - 5.6%|
|LIC Housing Finance||5.75% - 6%|
|Tamil Nadu Power Finance||7.75% - 8.25%|
|Jammu & Kashmir Bank||5.3% - 5.8%|
|Bajaj Finance||6.5% - 6.75%|
|Yes Bank||6.25% - 7%|
|RBL Bank||6.3% - 6.8%|
|Punjab and Sind Bank||5.3% - 5.8%|
|Kotak Mahindra Bank||5.1% - 5.6%|
|IndusInd Bank||6% - 6.5%|
|Central Bank of India||5% - 5%|
|DCB Bank||6.5% - 7%|
|Bandhan Bank||5.25% - 6%|
|DBS Bank||5.5% - 5.5%|
|Indian Overseas Bank||5.2% - 5.7%|
|Karur Vysya Bank||5.5% - 6%|
|Equitas Small Finance Bank||6.35% - 6.85%|
|City Union Bank||5.5% - 6%|
|SCB Bank||5.35% - 5.85%|
|Karnataka Bank||5.5% - 5.9%|
|South Indian Bank||5.5% - 6%|
|HDFC Ltd Fixed Deposit||6.05% - 6.3%|
|Bank of Maharashtra||4.9% - 5.4%|
|ICICI Housing Finance Company||6.05% - 6.3%|
|ESAF Small Finance Bank||5.75% - 6.25%|
|Indian Bank||5.15% - 5.65%|
|Shriram Finance||8% - 8.4%|
|Federal Bank||5.35% - 5.85%|
|ICICI Bank||5.15% - 5.65%|
|Ujjivan Small Finance Bank||6.75% - 7.25%|
|Post Office||5.5% - 5.5%|
|Punjab National Bank||5.1% - 5.6%|
|Union Bank of India||5.4% - 5.4%|
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Fincare Small Finance Bank is a new age bank which started its operations in 2017. Though it is a new bank, it is not new to the banking industry. This bank is the result of the process of coming together of 2 NBFCs. The bank stands true to its motto of transforming banking into smart banking. It offers multiple fixed deposit options to its clients for them to choose from. In this article, we have covered about Fincare Small Finance Bank FD, and it’s interest rates in detail.
Fincare FD rates range between 3%-6.5% for regular citizens and 3.5% -7% for senior citizens with tenure varying between 7 days and 7 years. The Fincare fixed deposit interest rates are higher than their saving account rates. Moreover, the senior citizens get an additional 0.5% interest on their FD investments. Investors can opt for receiving interest monthly, quarterly or at the time of maturity.
The highest Fincare Small Finance Bank’s FD rate is 6.5% for a regular investor for the tenure of 3-4 years. For the same tenure, the senior citizen FD rate is 7%. Returns from Fincare Small Finance Bank fixed deposits can be calculated using the Fincare Small Finance Bank fixed deposit calculator.
Compare: latest fixed deposit interest rates
Fincare Bank FD rates are higher than its savings account rates. The key features of fincare bank’s fixed deposits are listed below:
The Fincare Small Finance Bank fixed deposit tenure ranges between 7 days to 7 years. Once invested, one cannot change the tenure of Fincare Small Finance Bank fixed deposit investment. However, one can opt for premature withdrawal. And investors can close the existing Fincare Small Finance Bank fixed deposit and start a new FD with the desired tenure.
The minimum and maximum investment for Fincare Small Finance Bank FDs depends on the type of FD.
Fincare Small Finance Bank fixed deposit offers interest rates in the range of 3% p.a. to 6.5% p.a.
Fincare Small Finance Bank offers preferential rates to senior citizens. Senior citizens get an additional 0.5% on their FD investments. The rate of interest on senior citizen term deposits ranges from 3.5%-7%.
An FD account in Fincare Small Finance Bank can be opened by eligible investors. Following is the eligibility criteria.
Following are the documents that one requires to open an FD account with Fincare Small Finance Bank.
It is not possible to deposit any additional amount in an existing Fincare Small Finance Bank fixed deposit. However, one can always invest in a fresh Fincare Small Finance Bank fixed deposit with the additional amount.
Investment in Fincare Small Finance Bank Tax Saving Fixed Deposit qualifies for tax deduction under Section 80C of the Income Tax Act, 1961. Investors can claim the tax benefits while filing their income tax returns. All other Fincare Small Finance Bank term deposits do not qualify for tax saving.
Fincare Small Finance Bank FDs’ interest income is taxable as per the individual’s respective income tax slab rates. Moreover, Fincare Bank deducts TDS of 10% (20% if PAN isn’t available) for interest income exceeding INR 40,000 (INR 50,000 for senior citizens).
One can determine the interest income that they might earn from their FD investments is above or below the TDS threshold limit using the Scripbox’s fixed deposit calculator. Moreover, they can determine their tax liability using an Income Tax Calculator. Scripbox’s online Income Tax Calculator helps in determining the tax liability for free.
Under the Deposit Insurance Scheme of RBI, DICGC insures all Fincare Small Finance Bank deposits up to INR 5,00,000.
Fincare Small Finance Bank will allow premature or partial withdrawals as per the FD type. The Priority Plus FD has separate interest rates for with and without premature withdrawal option. The premature withdrawal comes with a penalty of 0.5% interest. Hence investors will receive 0.5% less interest on the interest accumulated till the date of withdrawal. Also, there is no premature withdrawal facility on the tax-saving FDs.
Depositors can nominate beneficiaries for their Fincare Small Finance Bank FDs.
Fincare Small Finance Bank offers an auto-renewal facility to depositors for their FDs.
Opening an FD in Fincare Small Finance Bank is easy and convenient through their online portal.
Fincare Small Finance Bank allows investors to take a loan against the FD investment. This will help investors to meet their short term liquidity requirements. Moreover, they do not have to go through the hassle of applying for a fresh loan. The loan against Fincare Small Finance Bank FDs is given as per the rules of the bank. These rules are subject to change from time to time as per the bank’s discretion.
PAN Card isn’t mandatory to invest in Fincare Small Finance Bank FDs. However, not submitting the PAN Card has its drawbacks. The Fincare Bank will deduct TDS at 20% instead of 10%. Moreover, it will not issue any TDS certificate. Also, all exemption certificates (Form 15G and 15H) will be invalid.
Individuals need not have a Fincare Small Finance Bank account to open a fixed deposit account.
The Smart Fixed Deposit scheme offers significant interest rates to its depositors. The scheme is flexible in terms of interest payout and tenure.
The scheme enables corporates to make more than INR 2 crore deposits and safeguard their savings while earning interest. The scheme offers two options, i.e. with premature withdrawal and without premature withdrawal facility. Also, the FD rates for both the options vary.
The scheme helps its depositors to save tax. As per the Section 80C of the Income Tax Act, deposits up to INR 1,50,000 are eligible for a tax deduction.
Yes, Fincare Small Finance Bank offers recurring deposit schemes.
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|Axis FD Calculator||Axis FD Rates|
|ICICI FD Calculator||ICICI FD Rates|
|Canara Bank FD Calculator||Canara Bank FD Rates|
|PNB FD Calculator||PNB FD Rates|
|Post Office FD Calculator||BoB FD Rates|
|Yes Bank FD Calculator||Yes Bank FD Rates|
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