The bank also offers various fixed deposit products for NRIs, such as NRO and NRE fixed deposits. Fincare Small Finance Bank has been recognised as a scheduled bank by the RBI, which makes its depositors eligible for deposit insurance provided by the Depositor Insurance and Credit Guarantee Corporation (DICGC). The deposit insurance cover from DICGC, an RBI subsidiary, insures cumulative deposits up to Rs 5 lakh made by each depositor, including his fixed deposits, savings, current, and recurring deposits, in each scheduled bank in case of the failure or merger/amalgamation of a scheduled bank.
Fincare Small Finance Bank FD Interest Rates (p.a.) Highlights 2022 | |
| Highest slab rate | 7.00% (for 36 months 1 day to 42 months & 59 months 1 day to 66 months) |
| For 1 year | 6.25% |
| For 2 years | 6.50% |
| For 3 years | 6.50% |
| For 4 years | 6.75% |
| For 5 years | 7.00% |
| Tax-Saving FD | 7.00% |
The interest rates are updated as of 27 May 2022
Fincare Small Finance Bank FD Interest Rates 2022
Fincare FD Rates on Domestic deposits of less than Rs 2 crore w.e.f. 24 May 2022
| Tenure | Interest Rates (% p.a.) | |
| General Public | Senior Citizens | |
| 7 days to 45 days | 3.00 | 3.50 |
| 46 days to 90 days | 3.50 | 4.00 |
| 91 days to 180 days | 4.00 | 4.50 |
| 181 days to 364 days | 5.40 | 5.90 |
| 12 months to 15 months | 6.25 | 6.75 |
| 15 months 1 day to 18 months | 6.25 | 6.75 |
| 18 months 1 day to 21 months | 6.50 | 7.00 |
| 21 months 1 day to 24 months | 6.50 | 7.00 |
| 24 months 1 day to 30 months | 6.50 | 7.00 |
| 30 months 1 day to 36 months | 6.50 | 7.00 |
| 36 months 1 day to 42 months | 7.00 | 7.50 |
| 42 months 1 day to 48 months | 6.75 | 7.25 |
| 48 months 1 day to 59 months | 6.75 | 7.25 |
| 59 months 1 day to 66 months | 7.00 | 7.50 |
| 66 months 1 day to 84 months | 6.00 | 6.50 |
Fincare Small Finance Bank Tax Saver Deposit
| Tenure | Interest Rates (% p.a.) | |
| Regular Citizens | Senior Citizens | |
| 5 years | 7.00 | 7.50 |
NRO Fixed Deposit Interest Rates of deposits less than Rs 2 crores w.e.f. 24 May 2022
| Tenure | Interest Rates (% p.a.) |
| 7 days to 45 days | 3.00 |
| 46 days to 90 days | 3.50 |
| 91 days to 180 days | 4.00 |
| 181 days to 364 days | 5.40 |
| 12 months to 15 months | 6.25 |
| 15 months 1 day to 18 months | 6.25 |
| 18 months 1 day to 21 months | 6.50 |
| 21 months 1 day to 24 months | 6.50 |
| 24 months 1 day to 30 months | 6.50 |
| 30 months 1 day to 36 months | 6.50 |
| 36 months 1 day to 42 months | 7.00 |
| 42 months 1 day to 48 months | 6.75 |
| 48 months 1 day to 59 months | 6.75 |
| 59 months 1 day to 60 months | 7.00 |
NRE Fixed Deposit Interest Rates of deposits up to Rs 10 crores w.e.f. 27 May 2022
| Tenure | Interest Rates (% p.a.) |
| 12 months to 15 months | 6.25 |
| 15 months 1 day to 18 months | 6.50 |
| 18 months 1 day to 21 months | 6.50 |
| 21 months 1 day to 24 months | 6.50 |
| 24 months 1 day to 30 months | 6.50 |
| 30 months 1 day to 36 months | 6.50 |
| 36 months 1 day to 42 months | 7.00 |
| 42 months 1 day to 48 months | 6.75 |
| 48 months 1 day to 59 months | 6.75 |
| 59 months 1 day to 60 months | 7.00 |
Types of Fincare Small Finance Bank FD Schemes
Regular Fixed Deposits
- Additional 0.50% interest rates are offered to senior citizen FD depositors
- Depositors can opt for monthly, quarterly or cumulative payout (at the end of every quarter) options
- Depositors have to convey his/her payout option at the time of opening the account. No changes will be allowed after the due date
- Default option is cumulative interest where interest will be compounded quarterly
- Interest payouts to depositors will be net of TDS
Tax Saver Fixed Deposits
- Deposits under this scheme are eligible for tax deduction of up to Rs 1.5 lakh under Section 80C in each financial year
- Deposit amount: Minimum – Rs 5,000; Maximum – Rs 1.5 lakhs
- Lock-in period: 5 years
- Additional 0.50% interest rates are offered to senior citizen FD depositors
- Monthly, quarterly and cumulative payout options are available
- Premature/partial withdrawal and loan & overdraft facility is not available
Fincare Small Finance Bank FD Calculator
Before putting one’s money in any of the aforementioned fixed deposit schemes by the Fincare Small Finance Bank, it is advised to use the FD calculator which is freely available at Paisabazaar.com.
This calculator provides an estimated figure of how much one would gain on investing in fixed deposits. To use this online tool, the customer merely needs to pitch in FD amount, tenure for which this amount is to be invested, and the corresponding fixed deposit rate from the list of current Fincare FD rates.
This way, one can plan their finances better and make a well-informed decision.
Fincare FD Schemes – How to Apply?
To apply for any of the above-mentioned schemes, interested customers are required to contact the bank via any of the following options:
Call – 1800 313 313 (Toll-Free Number)
Email – customerservice@fincarebank.com
Frequently Asked Questions (FAQs)
Q. At what tenure can I get maximum returns on Fincare fixed deposits?
Currently, as per the prevailing Fincare FD rates, you will gain maximum returns @ 6.75% p.a. for the tenure of 36 months 1 day – 42 months.
Q. How can I save tax on Fincare FD schemes?
You can save up to Rs. 1.5 lakh/FY on investing in fixed deposits for a minimum of 5 years (as per the rules mentioned in Section 80C of the IT Act).
Q. How will my FD be invested taxed?
TDS on interest above Rs. 40,000 (Rs. 50,000 for senior citizens) in a financial year will be taxed at source by the bank @ 10% before crediting to the depositor’s account. If PAN or Form 60/61 is not submitted, TDS @ 20% will be charged.