Fincare Small Finance Bank FD

Fincare Small Finance Bank FD

Fincare Small Finance Bank FD

Fincare Small Finance Bank, a result of the successful collaboration between Future Financial Services and Disha Microfin, has rapidly expanded its presence across India since its establishment in 2017. With a network of 919 offices and 35 strategically placed ATMs throughout the country, the bank has made its mark. Fincare Small Finance Bank is proud to hold an impressive A+ credit rating for its fixed deposits, a testament to its unwavering commitment to financial stability and reliability. The bank offers various fixed deposit options, including smart and NRE fixed deposits. Senior citizens who opt for the smart fixed deposit can enjoy an additional 0.50% annual interest. The interest rate for fixed deposits in Fincare Small Finance Bank for the general public ranges from 3.00% p.a. to 6.75% p.a., depending on the chosen tenure. For example, for a tenure of 3 years, 1 day to 42 months, the bank offers the highest rate of 6.75%, while senior citizens are eligible for an even higher rate of 7.25%.

Fincare Small Finance Bank FD Rates

The table below displays the fixed deposit rates offered by Fincare Small Finance Bank for both the general public and senior citizens.

Tenure Interest Rates (% p.a.)

General Public Senior Citizens

  • 7 days to 14 days 3.00 3.60

  • 15 days to 30 days 4.50 5.10

  • 31 days to 45 days 4.75 5.35

  • 46 days to 90 days 5.25 5.75

  • 91 days to 180 days 5.75 6.25

  • 181 days to 364 days 6.50 7.10

  • 12 months to 15 months 7.50 8.10

  • 15 months 1 day to 499 days 7.75 8.35

  • 500 days 8.11 8.71

  • 501 days to 18 months 7.75 8.35

  • 18 months 1 day to 21 months 8.01 8.61

  • 21 months 1 day to 24 months 8.01 8.61

  • 24 months 1 day to 749 days 8.05 8.65

  • 750 days 8.51 9.11

  • 751 days to 30 months 8.05 8.65

  • 30 months 1 day to 999 days 8.00 8.60

  • 1000 days 8.31 8.91

  • 1001 days to 36 months 8.00 8.60

  • 36 months 1 day to 42 months 8.25 8.85

  • 42 months 1 day to 48 months 7.50 8.10

  • 48 months 1 day to 59 months 7.50 8.10

  • 59 months 1 day to 66 months 8.00 8.60

  • 66 months 1 day to 84 months 7.00 7.60

  • Fincare Small Finance Bank Tax Saver Deposit

  • Tenure Interest Rates (% p.a.)

  • Regular Citizens Senior Citizens

  • 5 years 8.00 8.60

NRO Fixed Deposit Interest Rates of deposits less than Rs 2 crores w.e.f. 26 July 2023

Tenure Interest Rates (% p.a.)

  • 7 days to 45 days 3.00

  • 15 days to 30 days 4.50

  • 31 days to 45 days 4.75

  • 46 days to 90 days 5.25

  • 91 days to 180 days 5.75

  • 181 days to 365 days 6.50

  • 12 months to 15 months 7.50

  • 15 months 1 day to 499 days 7.75

  • 500 days 8.11

  • 501 days to 18 months 7.75

  • 18 months 1 day to 21 months 8.01

  • 21 months 1 day to 24 months 8.01

  • 24 months 1 day to 749 days 8.05

  • 750 days 8.51

  • 751 days to 30 months 8.05

  • 30 months 1 day to 999 days 8.00

  • 1000 days 8.31

  • 1001 days to 36 months 8.00

  • 36 months 1 day to 42 months 8.25

  • 42 months 1 day to 48 months 7.50

  • 48 months 1 day to 59 months 7.50

  • 59 months 1 day to 60 months 8.00

NRE Fixed Deposit Interest Rates of deposits up to Rs 10 crores w.e.f. 26 July 2023

Tenure Interest Rates (% p.a.)

  • 12 months to 15 months 7.50

  • 15 months 1 day to 499 days 7.75

  • 500 days 8.11

  • 501 days to 18 months 7.75

  • 18 months 1 day to 21 months 8.01

  • 21 months 1 day to 24 months 8.01

  • 24 months 1 day to 749 days 8.05

  • 750 days 8.51

  • 751 days to 30 months 8.05

  • 30 months 1 day to 999 days 8.00

  • 1000 days 8.31

  • 1001 days to 36 months 8.00

  • 36 months 1 day to 42 months 8.25

  • 42 months 1 day to 48 months 7.50

  • 48 months 1 day to 59 months 7.50

  • 59 months 1 day to 60 months 8.00

Different FD Schemes Provided by Fincare Small Finance Bank

Fincare Small Finance Bank offers various FD schemes that individuals can apply for. The table below provides details on the FD rates, deposit ranges, and additional facilities:

Type of FD Provided by Fincare Small Finance Bank Features and Benefits

  • Smart Fixed Deposit Minimum Investment: ₹50,000

  • Maximum Investment: ₹6 lakhs

  • Additional 0.5% interest for senior citizens

  • Monthly and quarterly payouts available

  • Premature closure/withdrawal option

  • Tenure: 7 days to 7 years

  • Can be opened offline and online

  • Automatic renewal at maturity

Tax Saver Fixed Deposits Deduction of ₹1.5 lakhs available under Section 80C for tax purposes

  • Minimum Deposit: ₹5,000

  • Maximum Deposit: ₹1.5 lakhs

  • Lock-in period: 5 years

  • Additional 0.5% interest for senior citizens

  • No premature withdrawal option

  • Automatic renewal available

  • No loan against FD facility

  • Tax benefits for joint holders apply only to the first holder

  • Monthly and quarterly payout options

Priority Plus Fixed Deposits

  • Tenure: 7 days to 3 years

  • Minimum Deposit: ₹2 Crores

  • Maximum Deposit: ₹30 Crores

  • No preference for senior citizens

  • Monthly and quarterly payouts (cumulative and non-cumulative)

  • Premature closure with minimal penalty

  • 0.5% penalty for premature withdrawal

  • Nomination facility available

Eligibility Criteria

Fincare Small Finance Bank offers fixed deposit accounts to a wide range of applicants, including:

- Resident Individuals: Indian citizens residing in the country.

- Hindu Undivided Family (HUFs): HUFs can also take advantage of Fincare Small Finance Bank’s fixed deposit offerings.

- Non-Resident Indians (NRIs): NRIs looking to invest in fixed deposits are also eligible.

- Corporates: Companies and business entities can open fixed deposit accounts with the bank.

- Partnership Firms: Partnership firms are eligible for fixed deposits with Fincare Small Finance Bank.

- Sole Proprietorship: Sole proprietorships can invest their funds in fixed deposits offered by the bank.

- Associations, Trusts, and Societies: Organisations such as associations, trusts, and societies can also explore fixed deposit options.

Required Documents

To open a fixed deposit account with Fincare Small Finance Bank, you must provide the following essential documents:

- PAN Card: Your Permanent Account Number (PAN) card is required for identity and tax purposes.

- Aadhaar Card: Your Aadhaar card serves as proof of identity and residence.

- Passport-size Photographs: Recent passport-sized photographs of the account holder(s).

- Address Proof: Valid proof of your current address, such as a utility bill or rental agreement.

- PAN Form 60: If you do not possess a PAN card, you must fill out and submit PAN Form 60 as an alternative.

Process of Applying for FD at Fincare Small Finance Bank

Opening a fixed deposit account with Fincare Small Finance Bank is a straightforward process that can be done online or offline. Here are the two methods, with their respective steps.

Online Method

Step 1: Visit the official website of Fincare Small Finance Bank.

Step 2: Navigate to the ‘Explore our products’ section.

Step 3: Choose ‘Fixed Deposits’ from the available options.

Step 4: Click the “Apply now” button to proceed with the application.

Step 5: Fill out and submit the application form with the required details.

Step 6: You will receive an OTP on the mobile number provided in the form. Enter this OTP.

Step 7: Click on ‘Confirm’ to verify your submission.

Step 8: Your application has been successfully submitted. A bank representative will reach out to you soon with personalized guidance on the next steps.

Offline Method

Step 1: Visit a Fincare Small Finance Bank branch.

Step 2: Collect the fixed deposit application form from the branch.

Step 3: Fill out the application form with all necessary details and gather the required documents.

Step 4: Submit the completed application form and necessary documents to the bank branch.

Fincare Small Finance Bank FD Benefits

Advantages of Investing in Fixed Deposits with Fincare Small Finance Bank:

- Flexible Tenure: Fincare Small Finance Bank offers fixed deposit tenures ranging from 7 days to 7 years, allowing you to choose the duration that suits your financial goals. While you cannot alter the tenure once your investment begins, you have the option of premature withdrawal if necessary.

- Convenience: If you already have a Fincare Small Finance Bank savings account, opening fixed deposits is convenient. Moreover, you have the flexibility to withdraw them whenever needed, giving you financial freedom.

- DICGC Insurance: Your investments with Fincare Small Finance Bank are protected by the Deposit Insurance and Credit Guarantee Corporation (DICGC) for up to ₹5 lakhs, offering peace of mind.

- Auto-Renewal Feature: The bank offers an auto-renewal facility for FDs. When your FD matures, it automatically gets renewed, ensuring your funds continue to grow.

- Tax Benefits: Fincare Small Finance Bank’s tax saver FD enables deductions of up to ₹1.5 lakhs under Section 80C, helping you save on taxes while growing your wealth.

- Loan Against FD: Investors can use their FDs as collateral to secure loans; however, this option does not apply to tax saver FDs.

- Low Entry Point: Fincare Small Finance Bank allows fixed deposits with a minimum investment of ₹5,000, making it accessible to many investors.

- Senior Citizen Benefits: Senior citizens receive an additional 0.5% interest rate compared to regular investors, enhancing their returns.

- Flexible Payout Options: Fincare Small Finance Bank FDs provide the flexibility of choosing between monthly or quarterly interest payouts, whether you prefer cumulative or non-cumulative options.

- Nomination Facility: Depositors can nominate beneficiaries for their Fincare Small Finance Bank FD investments, ensuring a smooth transfer of assets in the event of unforeseen circumstances.

Conclusion

In a world where our financial choices profoundly shape our future, Fincare Small Finance Bank emerges as a reliable partner. Investing in Fincare Small Finance Bank’s fixed deposits provides the convenience of flexible tenure, tax benefits, and the option to use your FDs as collateral for loans. It guides individuals towards achieving financial success. Whether you aim to safeguard your savings or make them grow, Fincare Small Finance Bank can be your trustworthy ally. Offering competitive FD rates, it presents an opportunity to make smart decisions and embark on your journey towards financial prosperity with confidence and assurance.

Fincare Small Finance Bank FD

Fincare Small Finance Bank, a result of the successful collaboration between Future Financial Services and Disha Microfin, has rapidly expanded its presence across India since its establishment in 2017. With a network of 919 offices and 35 strategically placed ATMs throughout the country, the bank has made its mark. Fincare Small Finance Bank is proud to hold an impressive A+ credit rating for its fixed deposits, a testament to its unwavering commitment to financial stability and reliability. The bank offers various fixed deposit options, including smart and NRE fixed deposits. Senior citizens who opt for the smart fixed deposit can enjoy an additional 0.50% annual interest. The interest rate for fixed deposits in Fincare Small Finance Bank for the general public ranges from 3.00% p.a. to 6.75% p.a., depending on the chosen tenure. For example, for a tenure of 3 years, 1 day to 42 months, the bank offers the highest rate of 6.75%, while senior citizens are eligible for an even higher rate of 7.25%.

Fincare Small Finance Bank FD Rates

The table below displays the fixed deposit rates offered by Fincare Small Finance Bank for both the general public and senior citizens.

Tenure Interest Rates (% p.a.)

General Public Senior Citizens

  • 7 days to 14 days 3.00 3.60

  • 15 days to 30 days 4.50 5.10

  • 31 days to 45 days 4.75 5.35

  • 46 days to 90 days 5.25 5.75

  • 91 days to 180 days 5.75 6.25

  • 181 days to 364 days 6.50 7.10

  • 12 months to 15 months 7.50 8.10

  • 15 months 1 day to 499 days 7.75 8.35

  • 500 days 8.11 8.71

  • 501 days to 18 months 7.75 8.35

  • 18 months 1 day to 21 months 8.01 8.61

  • 21 months 1 day to 24 months 8.01 8.61

  • 24 months 1 day to 749 days 8.05 8.65

  • 750 days 8.51 9.11

  • 751 days to 30 months 8.05 8.65

  • 30 months 1 day to 999 days 8.00 8.60

  • 1000 days 8.31 8.91

  • 1001 days to 36 months 8.00 8.60

  • 36 months 1 day to 42 months 8.25 8.85

  • 42 months 1 day to 48 months 7.50 8.10

  • 48 months 1 day to 59 months 7.50 8.10

  • 59 months 1 day to 66 months 8.00 8.60

  • 66 months 1 day to 84 months 7.00 7.60

  • Fincare Small Finance Bank Tax Saver Deposit

  • Tenure Interest Rates (% p.a.)

  • Regular Citizens Senior Citizens

  • 5 years 8.00 8.60

NRO Fixed Deposit Interest Rates of deposits less than Rs 2 crores w.e.f. 26 July 2023

Tenure Interest Rates (% p.a.)

  • 7 days to 45 days 3.00

  • 15 days to 30 days 4.50

  • 31 days to 45 days 4.75

  • 46 days to 90 days 5.25

  • 91 days to 180 days 5.75

  • 181 days to 365 days 6.50

  • 12 months to 15 months 7.50

  • 15 months 1 day to 499 days 7.75

  • 500 days 8.11

  • 501 days to 18 months 7.75

  • 18 months 1 day to 21 months 8.01

  • 21 months 1 day to 24 months 8.01

  • 24 months 1 day to 749 days 8.05

  • 750 days 8.51

  • 751 days to 30 months 8.05

  • 30 months 1 day to 999 days 8.00

  • 1000 days 8.31

  • 1001 days to 36 months 8.00

  • 36 months 1 day to 42 months 8.25

  • 42 months 1 day to 48 months 7.50

  • 48 months 1 day to 59 months 7.50

  • 59 months 1 day to 60 months 8.00

NRE Fixed Deposit Interest Rates of deposits up to Rs 10 crores w.e.f. 26 July 2023

Tenure Interest Rates (% p.a.)

  • 12 months to 15 months 7.50

  • 15 months 1 day to 499 days 7.75

  • 500 days 8.11

  • 501 days to 18 months 7.75

  • 18 months 1 day to 21 months 8.01

  • 21 months 1 day to 24 months 8.01

  • 24 months 1 day to 749 days 8.05

  • 750 days 8.51

  • 751 days to 30 months 8.05

  • 30 months 1 day to 999 days 8.00

  • 1000 days 8.31

  • 1001 days to 36 months 8.00

  • 36 months 1 day to 42 months 8.25

  • 42 months 1 day to 48 months 7.50

  • 48 months 1 day to 59 months 7.50

  • 59 months 1 day to 60 months 8.00

Different FD Schemes Provided by Fincare Small Finance Bank

Fincare Small Finance Bank offers various FD schemes that individuals can apply for. The table below provides details on the FD rates, deposit ranges, and additional facilities:

Type of FD Provided by Fincare Small Finance Bank Features and Benefits

  • Smart Fixed Deposit Minimum Investment: ₹50,000

  • Maximum Investment: ₹6 lakhs

  • Additional 0.5% interest for senior citizens

  • Monthly and quarterly payouts available

  • Premature closure/withdrawal option

  • Tenure: 7 days to 7 years

  • Can be opened offline and online

  • Automatic renewal at maturity

Tax Saver Fixed Deposits Deduction of ₹1.5 lakhs available under Section 80C for tax purposes

  • Minimum Deposit: ₹5,000

  • Maximum Deposit: ₹1.5 lakhs

  • Lock-in period: 5 years

  • Additional 0.5% interest for senior citizens

  • No premature withdrawal option

  • Automatic renewal available

  • No loan against FD facility

  • Tax benefits for joint holders apply only to the first holder

  • Monthly and quarterly payout options

Priority Plus Fixed Deposits

  • Tenure: 7 days to 3 years

  • Minimum Deposit: ₹2 Crores

  • Maximum Deposit: ₹30 Crores

  • No preference for senior citizens

  • Monthly and quarterly payouts (cumulative and non-cumulative)

  • Premature closure with minimal penalty

  • 0.5% penalty for premature withdrawal

  • Nomination facility available

Eligibility Criteria

Fincare Small Finance Bank offers fixed deposit accounts to a wide range of applicants, including:

- Resident Individuals: Indian citizens residing in the country.

- Hindu Undivided Family (HUFs): HUFs can also take advantage of Fincare Small Finance Bank’s fixed deposit offerings.

- Non-Resident Indians (NRIs): NRIs looking to invest in fixed deposits are also eligible.

- Corporates: Companies and business entities can open fixed deposit accounts with the bank.

- Partnership Firms: Partnership firms are eligible for fixed deposits with Fincare Small Finance Bank.

- Sole Proprietorship: Sole proprietorships can invest their funds in fixed deposits offered by the bank.

- Associations, Trusts, and Societies: Organisations such as associations, trusts, and societies can also explore fixed deposit options.

Required Documents

To open a fixed deposit account with Fincare Small Finance Bank, you must provide the following essential documents:

- PAN Card: Your Permanent Account Number (PAN) card is required for identity and tax purposes.

- Aadhaar Card: Your Aadhaar card serves as proof of identity and residence.

- Passport-size Photographs: Recent passport-sized photographs of the account holder(s).

- Address Proof: Valid proof of your current address, such as a utility bill or rental agreement.

- PAN Form 60: If you do not possess a PAN card, you must fill out and submit PAN Form 60 as an alternative.

Process of Applying for FD at Fincare Small Finance Bank

Opening a fixed deposit account with Fincare Small Finance Bank is a straightforward process that can be done online or offline. Here are the two methods, with their respective steps.

Online Method

Step 1: Visit the official website of Fincare Small Finance Bank.

Step 2: Navigate to the ‘Explore our products’ section.

Step 3: Choose ‘Fixed Deposits’ from the available options.

Step 4: Click the “Apply now” button to proceed with the application.

Step 5: Fill out and submit the application form with the required details.

Step 6: You will receive an OTP on the mobile number provided in the form. Enter this OTP.

Step 7: Click on ‘Confirm’ to verify your submission.

Step 8: Your application has been successfully submitted. A bank representative will reach out to you soon with personalized guidance on the next steps.

Offline Method

Step 1: Visit a Fincare Small Finance Bank branch.

Step 2: Collect the fixed deposit application form from the branch.

Step 3: Fill out the application form with all necessary details and gather the required documents.

Step 4: Submit the completed application form and necessary documents to the bank branch.

Fincare Small Finance Bank FD Benefits

Advantages of Investing in Fixed Deposits with Fincare Small Finance Bank:

- Flexible Tenure: Fincare Small Finance Bank offers fixed deposit tenures ranging from 7 days to 7 years, allowing you to choose the duration that suits your financial goals. While you cannot alter the tenure once your investment begins, you have the option of premature withdrawal if necessary.

- Convenience: If you already have a Fincare Small Finance Bank savings account, opening fixed deposits is convenient. Moreover, you have the flexibility to withdraw them whenever needed, giving you financial freedom.

- DICGC Insurance: Your investments with Fincare Small Finance Bank are protected by the Deposit Insurance and Credit Guarantee Corporation (DICGC) for up to ₹5 lakhs, offering peace of mind.

- Auto-Renewal Feature: The bank offers an auto-renewal facility for FDs. When your FD matures, it automatically gets renewed, ensuring your funds continue to grow.

- Tax Benefits: Fincare Small Finance Bank’s tax saver FD enables deductions of up to ₹1.5 lakhs under Section 80C, helping you save on taxes while growing your wealth.

- Loan Against FD: Investors can use their FDs as collateral to secure loans; however, this option does not apply to tax saver FDs.

- Low Entry Point: Fincare Small Finance Bank allows fixed deposits with a minimum investment of ₹5,000, making it accessible to many investors.

- Senior Citizen Benefits: Senior citizens receive an additional 0.5% interest rate compared to regular investors, enhancing their returns.

- Flexible Payout Options: Fincare Small Finance Bank FDs provide the flexibility of choosing between monthly or quarterly interest payouts, whether you prefer cumulative or non-cumulative options.

- Nomination Facility: Depositors can nominate beneficiaries for their Fincare Small Finance Bank FD investments, ensuring a smooth transfer of assets in the event of unforeseen circumstances.

Conclusion

In a world where our financial choices profoundly shape our future, Fincare Small Finance Bank emerges as a reliable partner. Investing in Fincare Small Finance Bank’s fixed deposits provides the convenience of flexible tenure, tax benefits, and the option to use your FDs as collateral for loans. It guides individuals towards achieving financial success. Whether you aim to safeguard your savings or make them grow, Fincare Small Finance Bank can be your trustworthy ally. Offering competitive FD rates, it presents an opportunity to make smart decisions and embark on your journey towards financial prosperity with confidence and assurance.

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