AU Small Finance Bank FD Interest Rates 2020

AU Small Finance Fixed Deposit Rates

Tenure FD Rates Senior Citizen FD Rates
7 days to 1 month 15 days 5.25% 5.75%
1 month 16 days to 3 months 6.00% 6.50%
3 months 1 day to 6 months 6.50% 7.00%
6 months 1 day to 365 days 7.00% 7.50%
12 months 1 day to 15 months 7.63% 8.13%
15 months 1 day to 18 months 7.50% 8.00%
18 months 1 day to 24 months 7.50% 8.00%
24 months 1 day to 36 months 7.77% 8.27%
36 months 1 day to 45 months 7.50% 8.00%
45 months 1 day to 60 months 7.50% 8.00%
60 months 1 day to 120 months 7.25% 7.75%

The above rates are applicable for deposits of Below Rs. 2 crores. Check FD rates of all banks in India

Earn upto 8.35% on FD
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AU Small Finance Bank FD

AU Small Finance Bank offers multiple fixed deposit options to their customers to park their surplus savings for a fixed tenure. A customer is required to make a deposit once into their FD account at the time of opening the account with the bank. The customer is not allowed to deposit more money and withdraw any money in the account during the tenure of the deposit. Fixed Deposits of AU Small Finance Bank have a higher interest rate compared to their saving deposits. Benefits of opening a FD account in AU Small Finance Bank are:

  • 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.

AU Small Finance Bank Fixed Deposit Rates

FDs are attractive financial instruments for depositors looking for attractive returns and high safety. AU Small Finance Bank FD interest rates range from 5.25% p.a. to 7.00% p.a. for deposits with a tenure of 7 days to less than 365 days. These deposits are known as short term deposits as they have a tenure of less than 1 year. Short term AU Small Finance Bank FD rates for senior citizens range from 5.75% to 7.50% p.a.

Always, compare tenure wise FD rate of banks to choose the FD rate at which the bank offers the highest fixed deposit interest rate and if possible, opt for FD with highest interest rate. AU Small Finance Bank FD rates are the highest for the deposits with a tenure of 24 months 1 day to 36 months, wherein the FD rate of interest is 7.77% p.a

AU Small Finance Bank FD interest rates for long term deposits with tenure of 5 years to 120 months offer good returns. AU Small Finance Bank fixed deposit rates for deposits with a tenure of 120 months is 7.25%. Senior citizen are offered deposit rates of 7.75% p.a. for long termed FDs.

Important Factors of AU Small Finance Bank Fixed Deposit

AU Small Finance Bank offers best FD rate of 7.77% on term deposits for a tenure of 24 months 1 day to 36 months. The bank offers special interest rate on FD for senior citizens. Current AU Small Finance Bank FD rates for senior citizens range from 5.75% to 8.27%. Fixed Deposits rates of AU Small Finance Bank are a function of many factors such as monetary policies of RBI, economic growth rate, credit demand and liquidity position of the bank.

The factors affecting Fixed Deposit interest rates are as follows:

Policies Framed by RBI – As per RBI guidelines, the change in Cash Reserve Ratio (CRR) and repo rate affects the interest rate of all banking instruments including the fixed deposit.

Recession – Recession results in a decrease in the interest rate offered on fixed deposit. At the time of recession, RBI is forced to release the funds in the market which it achieves by lowering the rates on cash reserve of the banks and hence, providing them with additional liquidity. As a result of high liquidity and low credit demand, banks reduce the rates on FD.

Inflation – Inflation has a positive effect on a fixed deposit interest rate. Banks typically fix interest rates of FD in a manner that it is higher than the existing inflation rates. Hence, FD rates tend to be higher in a period of rising inflation.

Current State of Economy – Economic condition of the country is the major factor that affects the fixed deposit interest rate. In a booming economy, people need and are willing to take larger credit to meet their personal and business requirements. In periods of high credit demand, banks offer higher interest rate to garner more funds through fixed deposits.

AU Small Finance Bank Fixed Deposit Scheme

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.

Who is eligible?

  • 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.

Who is eligible?

  • 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

Who is eligible?

  • Resident Individuals, HUFs and Minors.

AU Small Finance Bank FD Calculator

AU Small Finance Bank fixed deposit calculator helps you to calculate maturity value of your deposited amount at the interest rate offered compounded at quarterly. The amount of fixed deposits, interest rates on FD, deposit tenure and compounding frequency of interest together determine the maturity amount of the FD at the end of the tenure.

  • Deposit amount – This is the initial amount deposited by a customer in AU Small Finance Bank. Bank may allows higher interest rate on larger deposits. AU Small Finance Bank offers deposit amount in the range of Rs. 1000 to No limit.
  • Rate of Interest - Interest rate is the rate charged by the bank on your fixed deposit. AU Small Finance Bank offers a higher rate of interest on fixed deposits of longer tenure and lower interest rate on deposits of less than a year. Highest interest rate offered by AU Small Finance Bank is 7.77% for deposit amount below Rs. 1 crore corresponding to a deposit tenure of years months days to years months days .
  • Interest Compounding Frequency - This determines the frequency at which interest is compounded. Compounding frequency can be monthly, quarterly, half yearly or annual frequency.

Illustration: : Mr. A opens a FD account of Rs. 1 lakh with a tenure of 7 Days at an interest rate of 5.25 %. In this case, the maturity amount at the end of 7 Days will be Rs. 100,000 which includes the principal of Rs. 1 lakh and interest of Rs. 0 is earned on the principal amount during the period. Similarly, you can calculate the interest and maturity amount for higher tenures by using FD calculators.

AU Small Finance Bank calculates interest on its fixed deposits.

FD in AU Small Finance Bank – Premature Withdrawal

Premature closure of Term Deposit with AU Small Finance Bank is along with the lower interest rate of 0 than the contracted rate. The penal provisions for premature closure on AU Small Finance Bank FD are subject to change from time to time and may also vary with deposit schemes.

Loan against Fixed Deposit AU Small Finance Bank

AU Small Finance Bank offers loan up to 0% against its own deposit. Note that AU Small Finance Bank will not give you loan against FD of any other bank. AU Small Finance Bank offers Loan against FD at the rate of 6.25% to 8.77%

Maximum loan tenure is restricted up to the maximum tenure of the FD.

Documents required to open Fixed Deposit Account in AU Small Finance Bank

  • PAN Card is mandatory if the amount exceeds 50,000.

FAQs on AU Small Finance Bank Fixed Deposit

What is the highest FD rate for AU Small Finance Bank?

You can earn a maximum interest of 7.77% on AU Small Finance Bank fixed deposit.

Are there any special rates for senior citizens FD of AU Small Finance Bank?

Yes, senior citizens get a higher rate on their deposits compared to FD rates. The rate of regular FD are in the range of 5.25% to 7.77%. Compared to this, the rate of senior citizens FD are in the range of 5.75% to 8.27%.

What is the tenure range for AU Small Finance Bank Fixed Deposit?

The tenure for AU Small Finance Bank Fixed Deposit ranges from 7 days to 10 years.

Is there any minimum amount that I have to give for opening a Fixed Deposit with AU Small Finance Bank?

The minimum deposit amount required to book an FD with AU Small Finance Bank is Rs. 1000.

Can I deposit additional amount in my 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 PAN Card is mandatory if the amount exceeds 50,000..

Is it possible to change the tenure of my existing fixed deposit account with AU Small Finance Bank ?

No, it is not possible to alter the tenure selected for the fixed deposit account once the account is opened. However, you may close your existing fixed deposit account and can open a new account with a desired tenure of your choice.

What are the implications of opening an FD bank account without having PAN?

Following are the implications for the customers opening an FD account with AU Small Finance Bank without their PAN card

  • TDS will be deducted at the rate of 20% as against 10% under section 206AA
  • NO TDS credit from the Income Tax department
  • NO TDS certificate will be issued
  • Form 15G/H and other exemption certificates will be invalid and penal TDS will apply
What is the current interest rate on FD in AU Small Finance Bank?

Current interest for FD in AU Small Finance Bank ranges between 5.25% - 7.77%. For senior citizens the interest rates ranges bweteen 5.75% - 8.27%.

Can a customer open a FD account online in AU Small Finance Bank?

Yes, you can submit your application for opening a FD account on the website of AU Small Finance Bank. After submitting the application, you will be contacted by the bank’s representative for further process.

What is cumulative FD and traditional FD?

In cumulative FD the interest amount calculated each month is added with the principal balance to calculate the interest for next month. This means that each month’s interest amount becomes the part of the invested sum next month. However, in the case of traditional FD, the interest for each month is calculated on the originally invested sum, and it paid monthly as well.

*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More