This Small Finance Bank Makes Interest Rate Revision On FD (W.e.f. 18/04/2022)

The interest rate on fixed deposits of less than Rs 2 crore has been revised by ESAF Small Finance Bank, a DICGC-insured bank. The interest rate change has been implemented today, April 18th, 2022, and the new interest rates apply to new Resident term deposits as well as renewals of existing Resident term deposits and recurring deposits.

ESAF Small Finance Bank Resident Term Deposit Interest Rates

The interest rate on resident term deposits of less than Rs 2 Cr maturing in 7 to 14 days would now be 4 percent. Whereas the interest rate on deposits maturing in 15 to 59 days would now be 4.50 percent. The bank will now provide a 5.00 percent interest rate on deposits maturing in 60 to 90 days.

ESAF Small Finance Bank will now offer a 5.25 percent interest rate on resident term deposits maturing in 91 to 182 days. Fixed deposits maturing in 183 days to one year and one year and one day to less than two years will now return 5.50 percent and 6.00 percent interest, respectively. The bank will now promise interest rates of 6.75 percent and 5.75 percent on fixed deposits maturing in 2 years to less than 3 years and 3 years to less than 4 years, respectively.

Term deposits maturing in 4 years to less than 5 years and 5 years to 10 years will now generate 5.75 percent and 5.25 percent, respectively. Senior citizens will continue to get an additional rate of 0.50% over and above the regular rate across all tenors.

Period	Normal Rate (%)	Rate for Senior Citizens (%)
7 days to 14 days	4.00%	4.50%
15 days to 59 days	4.50%	5.00%
60 days to 90 days	5.00%	5.50%
91 days to 182 days	5.25%	5.75%
183 days to 1 year	5.50%	6.00%
1 year 1 day to less than 2 years	6.00%	6.50%
2 years to less than 3 years	6.75%	7.25%
3 years to less than 4 years	5.75%	6.25%
4 years to less than 5 years	5.75%	6.25%
5 years to 10 years	5.25%	5.75%
Source: esafbank.com

ESAF Small Finance Bank Non-Resident Ordinary (NRO) Term Deposit Rates

The following are the interest rates for Non-Resident Ordinary (NRO) Term Deposits (less than Rs.200 lakhs) as of 18/04/2022.

Period	Rate of Interest effective from 18/04/2022
7 days to 14 days	4.00%
15 days to 59 days	4.50%
60 days to 90 days	5.00%
91 days to 182 days	5.25%
183 days to 1 year	5.50%
1 year 1 day to less than 2 years	6.00%
2 years to less than 3 years	6.75%
3 years to less than 4 years	5.75%
4 years to less than 5 years	5.75%
5 years to 10 years	5.25%
Source: esafbank.com

ESAF Small Finance Bank Non-Resident External (NRE) Term Deposit Rates

As of 18/04/2022, the interest rates for Non-Resident External (NRE) Term Deposits of less than Rs.200 lakhs are as follows.

Period	Rate of Interest effective from 18/04/2022
1 year 1 day to less than 2 years	6.00%
2 years to less than 3 years	6.75%
3 years to less than 4 years	5.75%
4 years to less than 5 years	5.75%
5 years to 10 years	5.25%
Source: esafbank.com