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AU Small Finance FD - Scheme, Eligibility, Documents

AU Small Finance Bank Fixed Deposit Highlights

Last Updated 28th Jun 2021

AU Small Finance Bank fixed deposit is a reliable, secure and beneficial investment option that offers various benefits such as guaranteed returns, Government insurance, loan borrowing facility and flexible fixed deposit tenure.

Interest Rate 3.50% to 6.25%
Minimum Tenure 7 days
Maximum Tenure 10 years
Deposit Amount Rs. 1000
Maximum Deposit No limit
    Earn upto 6.95% on FD APPLY NOW

    AU Small Finance Bank FD

    AU Small Finance Bank is one of the leading fixed deposit providers in the country. The Bank offers FD with flexible tenures ranging between 7 days to 10 years . Apart from that, AU Small Finance Bank FD offers regular returns on fixed deposits ranging between 3.50% to 6.25%. For senior citizens, the interest rates on fixed deposits range between 4.25% to 7.00%. In addition to that, AU Small Finance Bank fixed deposit plans offer tailor-made fixed deposit products for different kinds of fixed deposit investors.

    Types of AU Small Finance Bank Fixed Deposit Schemes

    Different type of AU Small Finance Bank term deposit products offered to the investors are listed as follows:

    Sweep In Facility

    Description:

    • Under Sweep in facility, one can choose to link one or more Fixed Deposits to his Current or Savings Account. Any shortfall in his Current or Savings Account can be paid through the linked Fixed Deposit(s). Deposits are broken down in units of Rs.100, thereby reducing interest loss.
    • Flexibility in altering the deposit tenure, maturity and payment instruction, principal amount and roll over period.
    • More than one FDs can be linked to your Current or Savings Account.
    • In case of multiple linked FDs, sweep-in of funds from Fixed Deposit(s) to Current or Savings Account will happen on Lowest Rate First Out basis. It means that the FD with the lowest interest rate will be broken first, thereby reducing interest loss.

    Eligibility:

    • Resident Individuals, HUFs and Minors.
    Regular Fixed Deposit

    Description:

    • Fixed deposits of AU Small Finance Bank offers lucrative interest rates coupled with safety and flexible payout options. It is a low-risk investment with moderate returns. Further, moderate returns ensure that it beats inflation. The lumpsum amount after the stipulated time makes it a viable Bank to bank on.
    • A minimum initial amount of Rs. 1000 is required to open a Fixed Deposit.
    • Quarterly and monthly payout options available.
    • A high rate of interest for senior citizen.
    • TDS will be applicable if the total interest payable or reinvested in FD is greater than Rs. 50,000 for senior citizen and Rs. 40,000 for others in a financial year.

    Eligibility:

    • Resident Indians, Hindu Undivided Families, Sole proprietorship firms, Partnership firms, Limited companies and Trust accounts.
    AU Small Finance Bank 5 Years Tax Saving Fixed Deposit

    Description:

    • The FD has been formulated to help the resident individuals, HUFs and minors save their money on tax and derive effective yields and returns on their fixed deposits.
    • TDS will be applicable if the total interest payable or reinvested in FD is greater than Rs. 50,000 for senior citizen and Rs. 40,000 for others in a financial year.
    • A minimum initial amount of Rs. 1000 is required to open a Fixed Deposit.
    • A locked in fixed period of 5 Years.
    • In case of joint deposits, the tax benefit will be available only to the first holder of the deposit

    Eligibility:

    • Resident Individuals, HUFs and Minors.

    Benefits of AU Small Finance Bank FD

    AU Small Finance Bank fixed deposit is a popular investment option due to a number of benefits it provides to the FD investors. Some of these are mentioned below:

    • Guaranteed returns: The best thing about AU Small Finance Bank FD is that it offers guaranteed and assured returns to the investors. The return offered on a fixed deposits is regulated by the Bank on a monthly, or quarterly basis, as per the Bank’s choice. Currently, AU Small Finance Bank offers FD rates up to 6.25%. The interest rates offered on AU Small Finance Bank FD is not only assured but also way higher than a savings account.
    • Insured by the Government: The Deposit Insurance and Credit Guarantee Corporation offers deposit insurance of ₹ 5 Lakh to fixed deposits across all banks. Investing in a fixed deposits with the highest rating of AAA, rated by ICRA and CRISIL, is a reliable investment option.Thus, AU Small Finance Bank term deposit is safe and secure, as the funds are backed by the government no matter what the current situation of the Bank is.
    • Loan against FD: The investment made in an FD scheme is not only a reliable investment option but can also act as an asset. This is because AU Small Finance Bank fixed deposit allows one to borrow a secured loan against AU Small Finance Bank FD. Benefits of Loan Against FD of AU Small Finance Bank are as follow:
      • Loan against FD of AU Small Finance Bank offers the loan amount upto 90%-95% of the FD amount.
      • The interest charged on the loan against FDs are generally low and are 2% to 3% higher than the FD interest rate.
      • Loan against FD of the AU Small Finance Banks flexible repayment options.
      • The processing fee of Loan Against FD in the AU Small Finance Bank is nil.
      • It is a hassle-free loan and does not require the depositor to break the FD.
    • Flexible tenures: AU Small Finance Bank FD offers the investors the flexibility to choose the investment tenure as per their convenience. AU Small Finance Bank offers fixed deposit for a minimum tenure of 7 days up to a maximum tenure of 10 years . AU Small Finance Bank offers different interest rates across FD tenures.
    • Flexible investment: Apart from the flexibility of tenure, AU Small Finance Bank fixed deposit offers the flexibility of funds to FD investors as funds can be invested with a minimum amount of Rs. 1000. Apart from that, one can invest in the AU Small Finance Bank FD up to a maximum of No limit.

    Premature Withdrawal Terms and Conditions

    Though a fixed deposit with AU Small Finance Bank means depositing funds for a fixed period of time in expectation of a regular return. However, keeping in view the instability in the markets, the Bank allows premature withdrawals of funds from a fixed deposit. This means that investors can withdraw their funds before the date of maturity to fulfil their urgent financial conditions.

    Withdrawing funds prematurely from AU Small Finance Bank will attract an interest rate lowered by Allowed below the effective rate on the date of booking the FD. The penalty charged on fixed deposits is valid only on fixed deposits with a tenure greater than seven days. In case of premature withdrawal of AU Small Finance Bank fixed deposits with tenure less than seven days, the bank does not pay any interest.

    Eligibility Criteria for AU Small Finance Bank FD

    AU Small Finance Bank FD facility can be availed by the following type of investors:

    • Indian Citizens
    • Members of HUFs or the Hindu Undivided Family
    • Business firms
    • Local governing bodies
    • Government departments
    • Employees of private limited companies
    • Trust accounts

    Documents for AU Small Finance Bank FD

    AU Small Finance Bank fixed deposit requires one to submit the following documents:

    • Passport size photographs
    • Identity proofs such as Aadhar card, passport, PAN card, and driving license.
    • Address proofs such as passport, ration card, utility bills such as water, gas or electricity bill.
    • Age proof such as birth certificate, matriculation passing certificate, and Voter ID card.
    • Bank account details such as passbook and account number.

    Credit Card Against AU Small Finance Bank FD

    Credit Cards againstAU Small Finance Bank FD are secured credit cards. They are availed against the amount deposited in the term deposits. They are an ideal option for individuals with low CIBIL score and salary. Below mentioned are the important features of Credit Cards against AU Small Finance Bank FD:

    • The limit offered on the credit card depends upon the amount deposited in the fixed deposits. Generally, banks offer around 80% of the deposit amount as the total credit limit on the card.
    • Credit Cards against the fixed deposits require minimum documentation.
    • The minimum tenure of the term deposits should be 6 months to avail credit card against it.
    • Secured Credit cards also offer discounts, cashback and rewards.
    • The cardholder continues to earn the same applicable interest rate on FD.

    FAQs

    What is the loan against FD repayment tenure in AU Small Finance Bank?

    Loan against FD is the  facility which allows the investor to avail the loan against the amount deposited in the term deposit. AU Small Finance Bank offers the loan against FD facility to the FD investors with a repayment tenure of up to 10 years .

    What is the minimum investment for FDs under AU Small Finance Bank?

    AU Small Finance Bank Fixed Deposit is one of the safest investment avenues and it can be availed with a minimum deposit of Rs. 1000.

    What is the minimum amount for a fixed deposit in AU Small Finance Bank?

    The minimum amount required for a fixed deposit investment in AU Small Finance Bank fixed deposit is Rs. 1000.

    What is the current interest rate on FD in AU Small Finance Bank?

    Currently, AU Small Finance Bank offers an interest rate ranging between 3.50% to 6.25% on its fixed deposits.

    What is the penalty for early withdrawal in AU Small Finance Bank?

    Bank charges penalty on premature withdrawal of fixed deposits. The penalty for early withdrawal ranges between 0.5% to 1% in most cases, based on the loan amount and tenure.

    What is the minimum FD tenure for which a fixed Deposit account can be opened in AU Small Finance Bank?

    AU Small Finance Bank fixed deposit can be opened with a minimum tenure of 7 days . The tenure of the AU Small Finance Bank fixed deposits ranges from 7 days to 10 years .

    Can I deposit additional amount in my AU Small Finance Bank FD account?

    No, you cannot deposit any additional amount in your existing FD account as you are allowed to deposit only once at the time of opening the account. If you want to invest any additional amount in FD, you are required to open a new FD account.

    Who is eligible for opening an FD account in AU Small Finance Bank?

    All resident individuals, HUFs, NRIs, Firms including minors are eligible to open a fixed deposit account.

    What documents are required to open an FD account in AU Small Finance Bank?

    The documents required to open an FD account in AU Small Finance Bank includes KYC documents and Passport size photos.

    In how many years FD doubled in the AU Small Finance Bank?

    The time AU Small Finance Bank fixed deposits will take to double the initial amount will depend upon the rate of interest offered on the FD. You can calculate the maturity amount of the AU Small Finance Bank FD at MyLoanCare by entering the amount you want to deposit and the interest offered on FD.

    Can an NRI open a AU Small Finance Bank fixed deposit account?

    No, Non-Resident Individuals are not allowed to invest in AU Small Finance Bank schemes. It means that they are not eligible to invest in fixed deposits.

    Is the AU Small Finance Bank safe for FD?

    Yes, the AU Small Finance Bank is one of the safest avenues for any investments. AU Small Finance Bank is backed by the Government of India and the returns on any investment including fixed deposits are guaranteed.

    Is it wise to take a loan against FD from the AU Small Finance Bank?

    Yes, opting for a Loan Against FD is an excellent decision. The reasons to take loan from AU Small Finance Bank are:

    • It offers the loan upto 90%-95% of the FD amount.
    • The interest levied on the loan against FDs are generally low and are 2% to 3% higher than the FD interest rate.
    • Loan against FD offers flexible repayment options.
    • The processing fee of Loan Against FD is Nil.
    • It is a hassle-free loan and requires minimum documentation.
    • Loan against FD helps the depositors to avoid the option of premature withdrawal.

    However, there might be a chance that the alternative credit option is offering lower rates with better facilities. In that case, individuals must compare and decide on the credit option.


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    AU Small Finance News - Jul 2021
    • 2021-06-28 : FD rates revised for AU Small Finance Bank
      With effect from June 23, 2021, AU small Finance Bank revised its FD rates, the FD rates for 7 days to 1 month 15 days is 3.50%, for 1 month 16 days to 3 months is 4% and it stands at 4.50% for 3 months 1 day to 6 months. Further, the FD rates for 6 months 1 day to 12 months is 5%, for 12 months 1 Day to 15 months and it is 6.10% and stands at 6% for 15 months 1 Day to 24 months. The FD rates for long tenors of 24 months 1 day to 36 months is 6.25%, for 36 months 1 day to 60 months and 6% and for 60 months 1 day to 120 months, it is 6.25%.
    • 2021-04-30 : AU Small Finance Bank Q4 net profit up 38 per cent at Rs 169 cr
      AU Small Finance Bank reported a 38% hike in its net profit at Rs 168.98 crore for the last quarter of the fiscal ended March 2021. The profit was boosted by retail loans like home, personal, LAP, two-wheeler, car, education and doctor loan along with deposits which include fixed and recurring deposits. Total income during Q4 FY21 rose to Rs 1,569 crore as against Rs 1,366.60 crore. Interest income moved up to Rs 1,292.37 crore during the reported quarter from Rs 1,183.45 crore in the year-ago period.
    • 2021-03-02 : AU Small Finance Bank revised its FD rates
      With effect from 3 March 2020, AU small Finance Bank revised its FD rates, the FD rates for 7 days to 1 month 15 days is3.50%, for 1 month 16 days to 3 months 4% and it stands at 4.75% for 3 months 1 day to 6 months. Further, the FD rates for 6 months 1 day to 12 months is 5.25%, for 12 months 1 Day to 15 months and it is 6.35% and stands at 6.25% for 15 months 1 Day to 24 months. The FD rates for long tenors of 24 months 1 day to 36 months is 6.50%, for 36 months 1 day to 60 months and 6.25% and for 60 months 1 day to 120 months it is 6.50%.
    • 2020-04-15 : AU Small Finance Bank revised its FD rates
      With effect from 15 April 2020, AU small Finance Bank revised its FD rates, the FD rates for 7 days to 1 month 15 days is 5.25%, for 1 month 16 days to 3 months 6% and it stands at 6.50% for 3 months 1 day to 6 months. Further, the FD rates for 6 months 1 day to 12 months is 7%, for 12 months 1 Day to 15 months and it is 7.63% and stands at 7.50% for 15 months 1 Day to 24 months. The FD rates for long tenors of 24 months 1 day to 36 months is 7.77%, it is 7.50% for 36 months 1 day to 60 months and 7.25% and for 60 months 1 day to 120 months it is 7.25%.
    *Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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