Fincare Small Finance Bank commenced their banking operations on July 21, 2017 offering a strong focus on technology and innovation. They offer a wide range of convenient and efficient FD’s and services.
Fincare small finance bank fd rates offer a wide range of options to its customers, with Fincare FD rates being on par with other small finance banks and major commercial banks.
Fincare Bank FD rates have tenures ranging from 7 days to 84 months, and interest rates are as high as 9.11% p.a. for senior citizens.
Current FD Rates of Fincare Small Finance Bank
Fincare FD rates vary for normal citizens and senior citizens. Lets’ go through the table given below with fincare small finance bank fd rates for different tenure period.
| Tenure | Regular (p.a.) | Senior Citizen(p.a.) |
| 7 days to 14 days | 3.00 | 3.60 |
| 15 days to 45 days | 3.50 | 4.10 |
| 46 days to 90 days | 3.75 | 4.35 |
| 91 days to 180 days | 4.00 | 4.60 |
| 181 days to 364 days | 4.50 | 5.10 |
| 365 days to 60 months | 6.25 | 6.75 |
| 60 months to 84 months | 7.50 | 8.10 |
| 84 months to 100 months | 8.00 | 8.60 |
Disclaimer: It is important to note that these interest rates are subject to change, so it is always best to check with the bank before investing.
Types of Fincare Small Finance Bank FD Schemes
In addition to the regular FD options, Fincare Small Finance Bank also offers a few special FD schemes, such as:
Tax Saving FD:
This scheme offers an interest rate of 8.00% p.a. for a tenure of 5 years. The interest earned on this scheme is exempt from income tax up to a certain limit.
| Feature | Details |
| Interest rate | 8.00% p.a. for the general public and 8.60% p.a. for senior citizens |
| Tenure | 5 years |
| Lock-in period | 5 years |
| Minimum deposit | ₹5,000 |
| Maximum deposit | ₹1.5 lakh |
| Interest pay-out options | Monthly, quarterly, or cumulative |
| Premature withdrawal | Not allowed |
| Tax benefits | Interest earned on this FD is exempt from income tax up to a certain limit |
Here are some additional details about the Tax Saving FD of Fincare Small Finance Bank:
- The interest earned on this FD is exempt from income tax up to a maximum of ₹1.5 lakh in a financial year.
- The interest is paid out monthly, quarterly, or cumulatively, depending on the option chosen by the depositor.
- There is no premature withdrawal allowed on this FD. If the FD is prematurely withdrawn, the interest earned will be taxable.
- The Tax Saving FD of Fincare Small Finance Bank is a good option for investors who are looking to save tax and earn a good return on their investment.
Doorstep FD:
This scheme offers an additional interest rate of 0.50% p.a. for FDs that are opened through the bank’s doorstep banking service.
| Feature | Details |
| Interest rate | 8.50% p.a. for the general public and 9.10% p.a. for senior citizens |
| Tenure | 7 days to 84 months |
| Lock-in period | Nil |
| Minimum deposit | ₹5,000 |
| Maximum deposit | ₹2 crores |
| Interest pay-out options | Monthly, quarterly, or cumulative |
| Premature withdrawal | Allowed after 7 days |
| Doorstep service | Yes, FD can be opened at your doorstep |
Here are some additional details about the Doorstep FD of Fincare Small Finance Bank:
- The Doorstep FD of Fincare Small Finance Bank offers an additional interest rate of 0.50% p.a. for FDs that are opened through the bank’s doorstep banking service.
- The interest is paid out monthly, quarterly, or cumulatively, depending on the option chosen by the depositor.
- The Doorstep FD can be prematurely withdrawn after 7 days. However, a penalty will be levied on the interest earned.
NRI FD:
This scheme offers interest rates that are slightly higher than the regular FD rates for non-resident Indians (NRIs).
| Feature | Details |
| Interest rate | 8.11% p.a. for the general public and 8.71% p.a. for senior citizens |
| Tenure | 7 days to 84 months |
| Lock-in period | Nil |
| Minimum deposit | ₹10,000 |
| Maximum deposit | No limit |
| Interest pay-out options | Monthly, quarterly, or cumulative |
| Premature withdrawal | Allowed after 7 days |
| Doorstep service | Yes, principal and interest are fully repatriable |
Here are some additional details about the NRI FD of Fincare Small Finance Bank:
- The NRI FD of Fincare Small Finance Bank offers slightly higher interest rates than the regular FD rates for non-resident Indians (NRIs).
- The NRI FD can be prematurely withdrawn after 7 days. However, a penalty will be levied on the interest earned.
- The principal and interest earned on the NRI FD are fully repatriable. This means that the NRI can transfer the principal and interest back to their home country.
- The NRI FD of Fincare Small Finance Bank is a good option for NRIs who are looking for a safe and secure investment option with good returns.
Feature and Benefit of Fincare Small Finance Bank FD
Fincare Small Finance Bank is backed by a strong group of investors, including True North, TA Associates, Tata Opportunities Fund etc.
Fincare FD rates offer features and additional benefits that are best in the market. Let’s look into it in detail:
- Competitive interest rates: Fincare Small Finance Bank offers competitive interest rates on its FDs, which are in parallel to other small finance banks and major commercial banks.
- Safety and security: Fincare Small Finance Bank is a well-regulated bank with a good track record. Your investment in the bank’s FDs is safe and secure.
- Variety of options: FD rates of Fincare Small Finance Bank comes with a variety of FD options to meet the needs of different investors. You can choose from FDs with different tenures and interest rates.
- Convenience: You can open an FD with Fincare Small Finance Bank online or through its branches.
- Tax benefits: Some of Fincare Small Finance Bank’s FDs offer tax benefits, such as the Tax Saving FD.
- Doorstep service: Fincare Small Finance Bank offers a doorstep banking service for its FDs. This means that you can open an FD at your home or office, without having to visit a branch.
- Repatriation of principal and interest: For NRI FDs, the principal and interest earned are fully repatriable. This means that the NRI can transfer the principal and interest back to their home country.
Fincare Small Finance Bank FD Rates vs Other Banks’ FD Rates
| Bank | Interest Rate (p.a.) |
| Fincare Small Finance Bank | 8.00% (General Public) |
| Equitas Small Finance Bank | 8.25% (General Public) |
| Ujjivan Small Finance Bank | 8.35% (General Public) |
| State Bank of India | 7.40% (General Public) |
| HDFC Bank | 7.10% (General Public) |
| ICICI Bank | 7.00% (General Public) |
| Kotak Mahindra Bank | 7.00% (General Public) |
| Axis Bank | 6.90% (General Public) |
| Punjab National Bank | 6.80% (General Public) |
Fincare Small Finance Bank offers a higher interest rate than several top 10 banks in India for 5-year FDs. However, it is important to compare the interest rates offered by different banks for different tenures and factor safety and security, before making monetary decisions .
So if you are looking for a safe, secure, and convenient investment option with good returns? Look no further than Fincare Small Finance Bank FDs!
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FAQs
A. Yes, Fincare Bank is safe for FD.Fincare Small Finance Bank is a well-regulated bank and is a member of the Deposit Insurance and Credit Guarantee Corporation (DICGC).
Q. Is Fincare Bank approved by RBI?
A. Yes, Fincare Bank (also known as Fincare Small Finance Bank) is approved by the Reserve Bank of India (RBI).
Q. What is the minimum balance in Fincare SFB?
A. For the Smart Saver Savings Account, the minimum balance requirement is Rs1,000. For the Fincare Prime Savings Account, the minimum balance requirement is Rs5,000.
Q. What is the rating of Fincare?
A. Fincare Small Finance Bank has a rating of CRISIL A1+. This is the highest rating that CRISIL assigns to small finance banks.
Q. Is Fincare private or government?
A. Fincare Small Finance Bank is a private bank. It is a wholly-owned subsidiary of Fincare Business Services Limited (FBSL).
Q. What is the old name of Fincare Bank?
A. Fincare Small Finance Bank was formerly known as Disha Microfin Limited.
Q. Which bank merged with Fincare Bank?
A. No bank has merged with Fincare Bank.
Q. Who is the owner of Fincare Bank?
A. The owner of Fincare Small Finance Bank is Fincare Business Services Limited (FBSL). Rajeev Yadav is the Managing Director and CEO of Fincare Small Finance Bank.
