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This Small Finance Bank Revises Interest Rates On FD: Now Get Up To 7.25%
Fincare Small Finance Bank provides a variety of fixed deposit options with interest rates as high as 6.75 percent. This small finance bank offers a variety of fixed deposit benefits, including flexible preclosure terms, flexible interest payout options of monthly, quarterly, or cumulative FDs, flexible maturity terms ranging from 7 days to 10 years, additional interest rates for senior citizens, along with other factors. Fincare Small Finance Bank allows 4 types of deposit schemes from its customers which are Smart Fixed Deposit, Priority Plus Fixed Deposit, Tax Saver Fixed Deposit, and Recurring Deposits. The bank has adjusted its interest rates on fixed and recurring deposits, and in addition to the higher rates, the bank also offers deposit insurance of up to Rs 5 lakhs through the Deposit Insurance and Credit Guarantee Corporation (DICGC). For a deposit amount of less than Rs 2 Cr, Fincare Small Finance Bank is now offering the following interest rates on term deposits.
Fincare Small Finance Bank Resident Term Deposit Rates (Less than Rs 2 Cr)
Fincare Small Finance Bank is currently delivering the following interest rates to both regular and elderly people with an alternative of premature withdrawal for deposits of less than Rs 2 Cr. Regular customers and senior citizens will now receive the maximum interest rate of 6.75 percent and 7.25% on deposits maturing in 59 months 1 day to 66 months, as the bank today has amended its interest rates on fixed deposits, which are in effect from October 25, 2021.
| Tenure | Interest rates for regular customers | Interest rates for senior citizens |
|---|---|---|
| 7 days to 45 days | 3.00% | 3.50% |
| 46 days to 90 days | 3.25% | 3.75% |
| 91 days to 180 days | 3.50% | 4.00% |
| 181 days to 364 days | 5.00% | 5.50% |
| 12 months to 15 months | 6.00% | 6.50% |
| 15 months 1 day to 18 months | 6.00% | 6.50% |
| 18 months 1 day to 21 months | 6.00% | 6.50% |
| 21 months 1 day to 24 months | 6.00% | 6.50% |
| 24 months 1 day to 30 months | 6.50% | 7.00% |
| 30 months 1 day to 36 months | 6.25% | 6.75% |
| 36 months 1 day to 42 months | 6.50% | 7.00% |
| 42 months 1 day to 48 months | 6.25% | 6.75% |
| 48 months 1 day to 59 months | 6.25% | 6.75% |
| 59 months 1 day to 66 months | 6.75% | 7.25% |
| 66 months 1 day to 84 months | 5.50% | 6.00% |
| Source: Bank Website, w.e.f. 25th October 2021 |
Fincare Small Finance Bank Resident Term Deposit Rates (For amount Rs 1 Cr to less than Rs 2 Cr)
Fincare Small Finance Bank is currently delivering the following interest rates on fixed deposits of Rs 1 Cr to Rs 2 Cr without the option of premature withdrawal, effective from October 25, 2021.
| Tenure | Interest rates in % |
|---|---|
| 181 days to 270 days | 5.10% |
| 271 days to 330 days | 5.10% |
| 331 days to 364 days | 5.80% |
| 12 months to 15 months | 6.15% |
| 15 months 1 day to 18 months | 6.15% |
| 18 months 1 day to 21 months | 6.15% |
| 21 months 1 day to 24 months | 6.15% |
| 24 months 1 day to 30 months | 6.15% |
| 30 months 1 day to 36 months | 6.15% |
| Source: Bank Website, w.e.f. 25th October 2021 |
Fincare Small Finance Bank Recurring Deposit Rates
Fincare Small Finance Bank offers recurring deposits with terms ranging from 7 days to 84 months, and customers will now receive a maximum rate of 6.75 percent on recurring deposits maturing in 59 months 1 day to 66 months, according to the bank's interest rate adjustment. Fincare Small Finance Bank's current interest rates on recurring deposits, effective from October 25, 2021, are listed below.
| Tenure | Interest rates in % |
|---|---|
| 7 days to 45 days | 3.00% |
| 46 days to 90 days | 3.25% |
| 91 days to 180 days | 3.50% |
| 181 days to 364 days | 5.00% |
| 12 months to 15 months | 6.00% |
| 15 months 1 day to 18 months | 6.00% |
| 18 months 1 day to 21 months | 6.00% |
| 21 months 1 day to 24 months | 6.00% |
| 24 months 1 day to 30 months | 6.50% |
| 30 months 1 day to 36 months | 6.25% |
| 36 months 1 day to 42 months | 6.50% |
| 42 months 1 day to 48 months | 6.25% |
| 48 months 1 day to 59 months | 6.25% |
| 59 months 1 day to 66 months | 6.75% |
| 66 months 1 day to 84 months | 5.50% |
| Source: Bank Website, w.e.f. 25th October 2021 |
