ESAF Small Finance Bank Fixed Deposit

Home Fixed Deposit ESAF Small Finance Bank Fixed Deposit
Updated: 20-02-2020 09:29:07 AM

Investment Amount

investment amount iconMinimum – ₹ 1,000

Maximum – No Limit

Tenure

tenure iconMinimum – 7 days

Maximum – 10 years

Interest Rate*

interest rate iconMinimum – 5.75%

Maximum – 8.75%

Originally started as an NBFC and micro finance institution named ESAF (Evangelical Social Action Forum) Microfinance and Investments Pvt. Ltd. in 2008, ESAF was granted in-principle license by the Reserve Bank of India (RBI) to launch a Small Finance Bank. Headquartered in Thrissur, Kerala; ESAF Small Finance Bank got its final license in November, 2016.

ESAF Small Finance Bank had expanded to 4000 employees and 400 branches across the nation (as per March 2018) in a relatively short span. Besides services like savings account and loans, ESAF also provides various types of deposits to cater diverse requirements of its customers. Let us have a look at different ESAF Small Finance Bank Fixed Deposits in detail.

ESAF Bank Fixed Deposit Interest Rates 2020
Types of ESAF Small Finance Bank Fixed Deposit
ESAF Small Finance Bank Documents Required
ESAF Small Finance Bank FD Calculator
How to apply ESAF Bank Fixed Deposit?

ESAF Bank Fixed Deposit Interest Rates 2020

Domestic Term Deposit Interest Rates

Domestic Retail Term Deposit TenureRate of Interest (Less than ₹ 2 Cr)
Regular CitizensSenior Citizens
7 days – 14 days5.50%6.00%
15 days – 59 days5.50%6.00%
60 days – 90 days6.25%6.75%
91 days to 181 days6.75%7.25%
182 days6.00%6.50%
183 days to 363 days7.50%8.00%
364 days6.25%6.75%
365 days to 545 days8.00%8.50%
546 days6.25%6.75%
547 days to 727 days8.00%8.50%
728 days6.50%7.00%
729 days to 909 days7.75%8.25%
910 days6.50%7.00%
911 days to 1091 days7.75%8.25%
1092 days7.00%7.50%
1093 days to 1273 days7.30%7.80%
1274 days7.00%7.50%
1275 days -1455 days7.30%7.80%
1456 days7.00%7.50%
1457 days-1637 days7.30%7.80%
1638 days7.00%7.50%

Note: Rates applicable from 1st December 2019. 

ESAF NRE Deposit Interest Rates

TenureESAF NRE FD Rate of Interest
365 days to 545 days8.00%
546 days6.25%
547 days to 727 days8.00%
728 days6.50%
729 days to 909 days7.75%
910 days6.50%
911 days to 1091 days7.75%
1092 days7.00%
1093 days to 1273 days7.30%
1274 days7.00%
1275 days -1455 days7.30%
1456 days7.00%
1457 days-1637 days7.30%
1638 days7.00%
1639 days-1819 days7.30%
1820 days7.00%
1821 days to 3653 days7.30%

Note: The aforementioned FD rates for ESAF NRE FD are applicable w.e.f. 1st December 2019 and are subject to change further with no prior notice. Rates for senior citizens are the same. 

ESAF NRO Deposit Interest Rates

Tenure Rate of Interest
7 days to 14 days5.50%
15 days to 59 days5.50%
60 days to 90 days6.25%
91 days to 181 days6.75%
182 days6.00%
183 days to 363 days7.50%
364 days6.25%
365 days to 545 days8.00%
546 days6.25%
547 days to 727 days8.00%
728 days6.50%
729 days to 909 days7.75%
910 days6.50%
911 days to 1091 days7.75%
1092 days7.00%
1093 days to 1273 days7.30%
1274 days7.00%
1275 days -1455 days7.30%
1456 days7.00%
1457 days-1637 days7.30%
1638 days7.00%
1639 days-1819 days7.30%
1820 days7.00%
1821 days to 3653 days7.30%

Note: The aforementioned ESAF FD rates are applicable to w.e.f. 1st December 2019. Rates for senior citizens are the same. 

Types of ESAF Small Finance Bank Fixed Deposit

  1. Regular Fixed Deposit
  2. Senior Citizen Fixed Deposit
  3. Tax Saver Fixed Deposit
  4. Hrudaya Deposit
  5. NRE Deposit
  6. NRO Deposit

1. Regular Fixed Deposit

ESAF Small Finance Bank Regular Fixed Deposit helps its customers to earn high interest rates on their regular fixed deposits. ESAF Fixed Deposit is crafted for customers who want to earn more on the investments made. The features & benefits of this deposit scheme are mentioned below:

Features of ESAF Small Finance Bank Regular Fixed Deposit
  • Minimum Amount: Rs. 1000
  • Maximum Amount: No Limit
  • Minimum Period: 7 days
  • Maximum Period: 10 years
  • ESAF Bank FD Rate ranges from 5.75% to 8.75% depending upon the tenure. For detailed interest rates, click here.
  • Reinvestment facility available
  • Overdraft / Loan against Fixed Deposit facility available
  • Nomination facility available
  • Premature withdrawal available
  • Joint account available
ESAF Regular Fixed Deposit Eligibility Criteria
ESAF Fixed Deposit account can be opened by Resident Individuals.

2. Senior Citizen Fixed Deposit

ESAF Small Finance Bank Senior Citizen Fixed Deposit provides preferential rates to senior citizens over regular individuals. The features & benefits of this deposit scheme are mentioned below:

Features of ESAF Small Finance Bank Senior Citizen Fixed Deposit
  • Minimum Amount: Rs. 1000
  • Maximum Amount: No Limit
  • Minimum Period: 7 days
  • Maximum Period: 10 years
  • ESAF Bank Senior Citizen FD Rate ranges from 6.25% to 9.25% depending upon the tenure. For detailed interest rates, click here.
  • Reinvestment facility available
  • Overdraft / Loan against Fixed Deposit facility available
  • Nomination facility available
  • Premature withdrawal available
  • Joint account available
ESAF Senior Citizen Fixed Deposit Eligibility Criteria
ESAF Senior Citizen Fixed Deposit account can be opened by Resident Individuals in the age of 60 years or above.

3. Tax Saver Fixed Deposit

ESAF Tax Saver FD is an ideal choice for investors who want to avail a deduction up to Rs.1.5 lakh under Section 80C of the Income Tax Act, 1961. It comes with a lock in period of 5 years. The features & benefits of the account are as follows:

Features of ESAF Small Finance Bank Tax Saver Fixed Deposit
  • Minimum Amount: Rs. 1000
  • Maximum Amount: Rs.1.5 lakh
  • Minimum Period: 5 Years
  • Maximum Period: 10 years
  • ESAF Bank FD Rates is fixed at 7% for regular individuals and 7.50% for senior citizens. For detailed interest rates, click here.
  • Nomination facility available
  • Overdraft / Loan against Fixed Deposit facility not available
  • Premature withdrawal facility not available
  • Joint account available
ESAF Tax Saver Deposit Eligibility Criteria
ESAF Tax Saver Fixed Deposit account can be opened by Resident Individuals.

Useful Article: Interest Rates of Tax Saving FD

4. ESAF Hrudaya Deposit

With Hrudaya Deposit, ESAF Small Finance Bank provides an innovative solution to provide affordable financial services to the customers. ESAF provides an opportunity to the depositors to serve the unbanked and banked segments of the society. You as a depositor will be provided the freedom of choosing the group of borrowers, geography and purpose for which you desire to map your deposit. Features & benefits of ESAF Hrudaya Deposit are as follows:

Features of ESAF Small Finance Bank Hrudaya Deposit
  • Minimum Deposit Amount: Rs.15 lakh
  • Tenure: Up to 2 years (No premature facility available)
  • Performance report of the fund will be provided to you at regular intervals
  • Relationship banking facility available
  • Provides the facility of investing online
ESAF Hrudaya Deposit Eligibility Criteria
ESAF Hrudaya Deposit account can be opened by Resident & Non-Resident Indian Individuals.

ESAF Small Finance Bank Documents Required

With the application form, any customer looking to invest in an ESAF Bank fixed deposit will be required to provide following documents.

Documents Required for ESAF Small Finance Bank Fixed Deposit
Proof of Identity
PAN card

Aadhaar card

Voter ID

Passport

Driving license, etc.

Proof of Residence
Utility Bills (Telephone Bills, Electricity Bills)

Voters’ ID card

Driving license

Passport

Aadhaar card

Any other document approved by the bank

ESAF Small Finance Bank FD Calculator

To decide which bank is best for fixed deposit in India, you should check your maturity amount using an ESAF Fixed Deposit Calculator. If you plan to invest in a fixed deposit with ESAF Small Finance Bank, then you can check the maturity amount using the ESAF FD calculator online at Paisabazaar. You only need to furnish details like principal amount, ESAF FD Rates and tenure to choose the deposit scheme that serve your needs completely.

Calculate Maturity Amount

How to apply ESAF Bank Fixed Deposit?

You can apply for ESAF Fixed Deposit easily by either online or offline mode. If you wish to apply online, you should select the “Deposits” button from the menu and click on “Apply Online” to fill the application form online. If you want to apply for ESAF Fixed deposit offline, please visit your nearest ESAF Bank branch for opening the deposit.

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