MyLoanCare is a FREE of cost service for borrowers Apply Online

MyLoanCare - Baat Aapke Interest Ki

MyLoanCare Customer Ratings - 4.5/5.0 Apply Online

Menu

ESAF Bank FD Interest Rates 2021

ESAF Bank FD Interest Rates

Last Updated 22nd Jan 2021

When it comes to the FD interest rate, the highest rate offered on ESAF Small Finance Bank FD is 6.50%. Latest ESAF Small Finance Bank FD interest rate for senior citizens, on the other hand ranges between 5.00% to 7.00%.

Tenure FD interest rates Senior Citizen FD interest rates
7 days to 14 days 4.50% 5.00%
15 days to 59 days 5.00% 5.50%
60 days to 90 days 5.75% 6.25%
91 days to 181 days 6.00% 6.50%
182 days 5.50% 6.00%
Earn upto 6.95% on FD APPLY NOW

ESAF Bank Fixed Deposit Features

ESAF Small Finance Bank FDs are one the best investment options available for depositors who are looking to invest in a fixed income instrument and earn higher returns than the savings account. Key Features of ESAF Small Finance Bank Fixed Deposit are:

  • Deposit Amount : ESAF Small Finance Bank FD can be opened with an amount as a low ₹ 1,000 to up to No limit.
  • FD Tenure : Ranges between 7 days to 727 days.
  • Interest Rate Range : 4.50% p.a. to 6.50% p.a.
  • Senior Citizens FD Rate : 5.00% to 7.00% p.a.
  • Highest Interest Rate : As per today’s rate, ESAF Small Finance Bank’s highest interest rate on FD is 6.50% offered for a tenure of 727 days.
  • Safety of ESAF Small Finance Bank Deposits : ESAF Small Finance Bank deposits are covered under the Deposit Insurance Scheme of RBI in which up to ₹ 5 lakh of all deposits of a depositor are insured by DICGC.
  • Loan against FD : ESAF Small Finance Bank provides loan against FD to help its depositor meet their liquidity requirements without breaking the FD.
  • Auto- Renewal Facility : Available
  • Nomination Facility : Available
  • Popular FD Schemes : Regular Deposit

ESAF Small Finance Bank FD Interest Rates Today

Interest rates on ESAF Small Finance Bank deposits are updated regularly by the Government of India. The following are updated ESAF Small Finance Bank FD interest rates 2021:

Tenure Interest Rate
7 days to 14 days 4.50%
15 days to 59 days 5.00%
60 days to 90 days 5.75%
91 days to 181 days 6.00%
182 days 5.50%
183 days to 363 days 6.50%
364 days 5.75%
365 days to 545 days 6.50%
546 days 5.25%
547 days to 727 days 6.50%
728 days 5.50%
729 days to 909 days 6.25%
910 days 5.50%
911 days to 1091 days 6.25%
1092 days 5.50%
1093 days to 1273 days 6.00%
1274 days 5.50%
1275 days to 1455 days 6.00%
1456 days 5.50%
1457 days to 1637 days 6.00%
1638 days 5.50%
1639 days to 1819 days 6.00%
1820 days 5.50%
1821 days to 3653 days 5.50%

ESAF Small Finance Bank FD Rates for Senior Citizens

With an aim to attract senior citizens above the age of 60 years to invest in the fixed deposits, ESAF Small Finance Bank offers a higher interest rate to senior citizens than the general public. Listed below are the ESAF Small Finance Bank fixed deposits interest rates for senior citizens 2021:

Tenure Interest Rate for senior citizens
7 days to 14 days 5.00%
15 days to 59 days 5.50%
60 days to 90 days 6.25%
91 days to 181 days 6.50%
182 days 6.00%
183 days to 363 days 7.00%
364 days 6.25%
365 days to 545 days 7.00%
546 days 5.75%
547 days to 727 days 7.00%
728 days 6.00%
729 days to 909 days 6.50%
910 days 6.00%
911 days to 1091 days 6.75%
1092 days 6.00%
1093 days to 1273 days 6.50%
1274 days 6.00%
1275 days to 1455 days 6.50%
1456 days 6.00%
1457 days to 1637 days 6.50%
1638 days 6.00%
1639 days to 1819 days 6.50%
1820 days 6.00%
1821 days to 3653 days 6.00%

Best FD Plan as per ESAF Small Finance Bank FD Rates

To invest in ESAF Small Finance Bank fixed deposit, you must compare ESAF Small Finance Bank Fixed Deposit Rates for varying tenures. ESAF Small Finance Bank FD Interest Rates 2021 are best for the deposits with a tenure of 6 months 3 days to 1 year 11 months 2 days, wherein the current ESAF Small Finance Bank Fixed Deposit Interest Rates is 6.50 p.a.

If you are looking to invest in short term deposits with ESAF Small Finance Bank, the interest rate of ESAF Small Finance Bank for FD ranges from 4.50% p.a. to 6.50% p.a. These deposits are known as short term deposits and are offered with a tenure of 7 days to less than 365 days. Short term ESAF Small Finance Bank Fixed Deposit Rates for senior citizens range from 5.00% to 7.00% p.a.

If you want to invest in long term deposits, ESAF Small Finance Bank Fixed Deposit Rates with tenure ranging from 5 years to 3653 days are a good choice with interest rates on deposits at 5.50%.ESAF Small Finance Bank Senior citizens FD Rates are offered at special rates with the highest deposit rates of6.00% p.a. on long term FDs.

Below-mentioned is some of the benefits of opening an FD account in ESAF Small Finance Bank:

  • Interest on deposit is paid only at the time of the maturity
  • ESAF Small Finance Bank also offers a nomination facility on its fixed deposits.
  • Extra interest of 0.25% to 0.50% is payable to the senior citizens.
  • Availability of auto-renewal facility on the deposit.
  • Earn higher returns on the money deposited.

ESAF Small Finance Bank Fixed Deposit Rate Trends

ESAF Small Finance Bank has hiked interest rates on fixed deposits with effect from 01 Jan, 1970. The new ESAF Small Finance Bank highest FD rate is currently at 6.50%, which is an increase of 6.5% from the previous highest rate of %. Currently, ESAF Small Finance Bank FD rate for upto 1 year is 4.50% and 6.50% for 5 year FD.

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

  • Identity proof
  • Proof of Residence
  • Passport size photograph
  • Age proof (Birth certificate, matriculation certificate, etc,)
  • Passport size photographs
  • Bank A/c details

ESAF Small Finance Bank Fixed Deposit Rates – Premature Withdrawal

You can close your ESAF Small Finance Bank FD account prematurely, however ESAF Small Finance Bank charges a penalty of for premature withdrawal. Also, The penal provisions for premature closure on ESAF Small Finance Bank FD are subject to change from time to time and may also vary with deposit schemes.

Loan against Fixed Deposit ESAF Small Finance Bank

ESAF Small Finance Bank offers loans up to 0% against its own deposit. Note that ESAF Small Finance Bank will not give you loan against FD of any other bank. ESAF Small Finance Bank offers Loan against FD at the rate of 5.5% to 7.5%

FD Account Opening Process at ESAF Small Finance Bank

To open an ESAF Small Finance Bank Fixed Deposit, follow the steps as mentioned below:

  • Visit the official website of ESAF Small Finance Bank and log in to your FD account.
  • From the menu, choose the Fixed Deposit option, the Type of FD you want to open and click on proceed.
  • Enter the deposit amount and select the ‘Senior Citizen’ option if you are above 60.
  • Now, choose the deposit tenure and interest payout frequency.
  • Finally, click on Submit to open the SBI FD after reading the terms and conditions.

To open a Fixed Deposit account in ESAF Small Finance Bank, you can visit the official website and login to your account. Choose the Fixed Deposit option from the menu and select the Type of FD you want to open and proceed. After this, you have to fill the deposit amount and select ‘Senior Citizen’ option if you are above 60. You have to choose the tenure of deposit and interest payout frequency. Click on Submit to open the ESAF Small Finance Bank FD after reading the terms and conditions.

Nomination Facility on ESAF Small Finance Bank FD

ESAF Small Finance Bank also offers a nomination facility on Fixed Deposit to claim the amount in case of the depositor's death. You can file the details of only 1 nominee when opening an ESAF Small Finance Bank FD account. The nominee has to submit his/her identification proof at the time of claim.

ESAF Small Finance Bank Fixed Deposit Scheme

Regular Deposit

Description:

  • ESAF Finance Bank FD provides an opportunity to the users to park their surplus for a fixed tenure. It offers attractive returns and high safety, thus becomes a viable Bank to bank on.
  • The facility of reinvestment option available.
  • The nomination facility is available.
  • Joint account is available.
  • Loan against FD available.
  • The option of Auto-Renewal available.
  • Option of premature closure

Who is eligible?

  • Indian residents and HUFs

FAQs

What is the highest fixed deposit interest rate for ESAF Small Finance Bank?

You can earn a maximum interest of 6.50% on ESAF Small Finance Bank fixed deposit.

Are there any special rates for senior citizens FD of ESAF 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 4.50% to 6.50%. Compared to this, ESAF Small Finance Bank senior citizens FD are in the range of 5.00% to 7.00%.

What are the current ESAF Small Finance Bank FD interest rates 2021?

Current interest for FD in ESAF Small Finance Bank ranges between 4.50% - 6.50%.

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

The minimum deposit amount required to book an FD with ESAF Small Finance Bank is ₹ 1,000.

Did ESAF Small Finance Bank increase FD rates in 2021?

Yes, the highest rate on ESAF Small Finance Bank FD has been increased from % to 6.50%. The fixed deposit rates of ESAF Small Finance Bank are now in the range of 4.50% to 6.50% with effect from 01 Jan, 1970.

Is it possible to change the tenure of my existing fixed deposit account with ESAF 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 ESAF Small Finance Bank without their PAN card

  • Your 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

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

Yes, you can submit your application for opening an FD account on the website of ESAF Small Finance Bank. After submitting the application, you will be contacted by the bank’s representative for the further process, which includes filling an application process and submitting KYC documents.

In how many years FD will double in ESAF Small Finance Bank?

The interest rate on FD depends upon the tenure you choose. To know the time period in which your FD amount will get doubled, you need to divide 72 the 6.50%. For ESAF Small Finance Bank FD the number of years in which your FD will get doubled is; 72/6.50 = 11

What is the interest of 1 lakh in the ESAF Small Finance Bank?

The interest on ESAF Small Finance Bank fixed deposit depends on the tenure of the FD for which it is deposited. Below mentioned is the ESAF Small Finance Bank FD interest rate 2021 across different tenures.

TenureInterest Rate
7 days to 14 days 4.50%
15 days to 59 days 5.00%
60 days to 90 days 5.75%
91 days to 181 days 6.00%
182 days 5.50%
183 days to 363 days 6.50%
364 days 5.75%
365 days to 545 days 6.50%
546 days 5.25%
547 days to 727 days 6.50%
728 days 5.50%
729 days to 909 days 6.25%
910 days 5.50%
911 days to 1091 days 6.25%
1092 days 5.50%
1093 days to 1273 days 6.00%
1274 days 5.50%
1275 days to 1455 days 6.00%
1456 days 5.50%
1457 days to 1637 days 6.00%
1638 days 5.50%
1639 days to 1819 days 6.00%
1820 days 5.50%
1821 days to 3653 days 5.50%


*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
Loader
Please wait while your information is being processed...