Fincare Small Finance Bank Fixed Deposit

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Updated: 27-08-2019 10:25:02 AM

Investment Amount

investment amount iconMinimum – ₹ 5,000

Maximum – No Limit

Tenure

tenure iconMinimum – 7 days

Maximum – 7 years

Interest Rate*

interest rate iconMinimum – 4.00%

Maximum – 9.00%

*for general public

Fincare Small Finance Bank, initially an NBFC called Disha Microfin Limited was incorporated in June 2017.It has its corporate office at Bengaluru and is licensed by RBI. It is promoted by  Fincare Business Services Ltd whose primary investors include Kotak Mahindra Bank, SIDBI, and Tata Opportunities Fund along with others. Fincare Small Finance Bank is aiming for a loan portfolio of Rs. 10,000 Crores in the next three years. Fincare Small Finance Bank provides interest rates as high as 9% for tenure up to 7 years. Below is a description of Fincare Small Finance Bank fixed deposit schemes.

What is a Small Finance Bank?
Fincare Small Finance Bank FD Rates 2019
Types of Fincare Small Finance Bank FD Schemes
Documents Required for Fincare Small Finance Bank Fixed Deposit
Fincare Small Finance Bank FD Calculator
How to Open Fincare Small Finance Bank FD Account

What is a Small Finance Bank?

Small Finance Banks are financial institutions that are licensed by RBI where 75% of Adjusted Net Bank Credit (ANBC) goes to priority sectors e.g. micro industries, education, farmers etc. Its main aim  is to promote banking in unbanked and rural areas. It can deal in other products like savings account, mutual funds, insurance, or transform into a full-fledged bank if approved by RBI.

Fincare Small Finance Bank FD Rates 2019

FD TenureFincare Small Finance Bank Fixed Deposit Interest Rate (Less than Rs.1 Crore)
Regular IndividualsSenior Citizens
7 days to 45 days4.00%4.50%
46 days to 90 days4.00%4.50%
91 days to 180 days6.00%6.50%
181 days to 364 days7.00%7.50%
12 months to 15 months8.00%8.50%
15 months 1 day to 18 months8.25%8.75%
18 months 1 day to 21 months8.50%9.00%
21 months 1 day to 24 months8.75%9.25%
24 months 1 day to 36 months9.00%9.50%
3 years 1 day to 5 years8.00%8.50%
5 years 1 day to 7 years7.00%7.50%

Types of Fincare Small Finance Bank FD Schemes

  1. Smart Fixed Deposit
  2. Priority Plus Fixed Deposit
  3. Fincare Bank Senior Citizen FD

1. SMART FIXED DEPOSIT

The smart fixed deposit account has attractive interest rates for deposits below Rs. 1 Crore. You can download the required forms from the website and initiate the process of opening a smart fixed deposit account at Fincare Small Finance Bank.

Features – Fincare Smart Fixed Deposit Account
  • Earn up to 9% interest rates on deposit below Rs, 1 Crore.
  • Flexible interest payout schemes- monthly, quarterly, or cumulative
  • An extra 0.5% interest for senior citizens
  • Doorstep facilities available

Eligibility Criteria

  • Resident Individuals above 18 years of age
  • Minors provided the account through  his/her legal guardian
  • Joint account option available as per KYC norms

2. PRIORITY PLUS FIXED DEPOSIT

This account serves for deposits above Rs. 1 Crore. It is well suited for corporate deposits. Here are some of its features.

Features- Fincare Smart Fixed Deposit Account
  • Superior returns on bulk deposits above Rs. 1 Crore
  • Flexible interest payout schemes- monthly, quarterly, or cumulative
  • Proactive assistance for customers
  • Hassle-free renewal and closure facilities

Eligibility Criteria

  • Resident Individuals above 18 years of age
  • Minors are eligible provided the account through his/her legal guardian
  • Joint account option available as per KYC norms

3. FINCARE BANK SENIOR CITIZEN FD

Senior Citizens get a 0.50% preferential interest rate than regular citizens. Also, the process is hassle-free and very convenient.

Features- Fincare Senior Citizen Fixed Deposit Account
  • Deposit is insured for a cover of up to Rs. 1,00,000
  • Doorstep facility available
  • Interest rate up to 9.50%

Eligibility Criteria

  • An Indian resident of age 60 years or above
  • Joint account provided at least one of the account holders is a senior citizen

Documents Required for Fincare Small Finance Bank Fixed Deposit

Documents Required for Fincare Small Finance  Bank Fixed Deposit
Passport size photograph
Supporting KYC

PAN card (mandatory)

Aadhaar card

Voter ID

Passport

Driving license

  Proof of Residence

Aadhaar card

Voter ID

Passport

Driving license

Fincare Small Finance Bank FD Calculator

Investors can use Fincare Small Finance Bank Fixed Deposit Calculator at Paisabazaar to know how much maturity amount will be returned. You need to fill in details of tenure, interest rate, and principal and you get the real-time returns about your interest and maturity amount .

Calculate Maturity Amount

How to Open Fincare Small Finance Bank FD Account

Download and fill the form and customer information form from the website and fill them. Submit the forms along with the required documents given below at your nearest Fincare Small Finance Bank branch. Forms are available both for individual and joint-accounts.

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