Suryoday Small Finance Bank FD Rates

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Suryoday Small Finance Bank is one of the top 10 companies and the only one from Maharashtra who obtained principle approval from the Reserve Bank of India to set up a Small Finance Bank in 2017. As of March 2017, Suryoday Bank’s net worth is Rs.505 crore (provisional) with an Asset book size of Rs. 964 crore. Suryoday Bank started its operations on January 23, 2017.

Suryoday Bank provide its customers with services like savings account, salary accounts and three types of deposits to serve the diverse customer’s requirements. Let us have a look at different Suryoday Small Finance Bank Fixed Deposits in detail.

Suryoday Small Finance Bank FD Rates 2019
Types of Suryoday Small Finance Bank Fixed Deposits
Suryoday Small Finance Bank Documents Required
Suryoday Small Finance Bank FD Calculator
How to apply Suryoday Bank Fixed Deposit?

Suryoday Small Finance Bank FD Rates 2019

TenureSuryoday Bank FD Rates (p.a.)
Regular CitizensSenior Citizens
7 days to 14 days4.00%4.50%
15 days to 45 days4.00%4.50%
46 days to 90 days5.00%5.50%
91 days to 6 months5.50%6.00%
Above 6 months to 9 months7.50%8.00%
Above 9 months to less than 1 year7.75%8.25%
1 year to 1 year 6 months8.25%8.75%
Above 1 year 6 months to 2 years8.25%8.75%
Above 2 years to 3 years8.50%9.00%
Above 3 years to less than 5 years8.00%8.50%
5 years9.00%9.25%
Above 5 years to 10 years7.25%7.75%

*Effective: From December 01st, 2018

Suryoday Small Finance Bank Tax Saver Fixed Deposits

Deposit TenureTax Saver FD Rates
PeriodRegular Citizens
(Per Annum)		Senior Citizens
(Per Annum)
Tax Saving Fixed Deposit (5 years)8.25%8.75%

*Effective: From September 29, 2018

Types of Suryoday Small Finance Bank Fixed Deposits

  1. Regular Fixed Deposit
  2. Senior Citizen Fixed Deposit
  3. Tax Saver Fixed Deposit

1. Regular Fixed Deposit

Suryoday Small Finance Bank provides Regular Fixed Deposit to its customers with a minimum deposit amount of Rs.1000. It is ideal for investors who want to earn high interest on their deposits. The benefits and features of Suryoday Bank Regular Fixed Deposit are as follows:

Features of Suryoday Small Finance Bank Regular Fixed Deposit
  • Minimum Amount: Rs. 1000
  • Minimum Period: 7 days
  • Maximum Period: 10 years
  • Suryoday Bank FD Rates range from 4.00% to 9.00% depending upon the tenure.
  • Premature withdrawal allowed
  • Interest rate on premature withdrawal would be 1% less than the rate applicable from the lower of the two mentioned below:
  1. Rate for original /contracted tenure for which the deposit has been booked (as on the date of booking the deposit)
  2. Rate for the actual tenure for which the deposit was in force with the Bank (as on the date of booking the deposit)
Suryoday Bank Regular Fixed Deposit Eligibility Criteria
Suryoday Bank Fixed Deposit account can be opened by Resident individuals, Hindu Undivided Family, Sole proprietorship firms, Partnership firms, Limited companies, Trusts.

2. Senior Citizen Fixed Deposit

Suryoday 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 Suryoday Small Finance Bank Senior Citizen Fixed Deposit
  • Minimum Amount: Rs. 1000
  • Minimum Period: 7 days
  • Maximum Period: 10 years
  • Suryoday Bank FD Rate ranges from 4.50% to 9.50% depending upon the tenure. For detailed Senior Citizen FD interest rates
  • Premature withdrawal allowed
  • Interest rate on premature withdrawal would be 1% less than the rate applicable from the lower of the two mentioned below:
  1. Rate for original /contracted tenure for which the deposit has been booked (as on the date of booking the deposit)
  2. Rate for the actual tenure for which the deposit was in force with the Bank (as on the date of booking the deposit)
Suryoday Bank Senior Citizen Fixed Deposit Eligibility Criteria
Suryoday Bank Fixed Deposit account can be opened by Resident individuals of age 60 & above.

3. Tax Saver Fixed Deposit

Suryoday Bank 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 Suryoday Small Finance Bank Tax Saver Fixed Deposit
  • Minimum Amount: Rs. 1000
  • Minimum Period: 5 years
  • Maximum Period: 10 years
  • Suryoday Bank Tax Saver FD Rate is fixed at 8.25% for regular individuals and 8.75% for senior citizens. For detailed Tax Saving FD interest rates, click here.
  • Premature withdrawal facility not available
  • Loan against Fixed Deposit facility not available
Suryoday Bank Tax Saver Fixed Deposit Eligibility Criteria
Suryoday Bank Tax Saver Fixed Deposit account can be opened by Resident individuals and Hindu Undivided Family. Resident Individuals above the age of 60 years

Suryoday Small Finance Bank Documents Required

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

Documents Required for Suryoday 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

Suryoday Small Finance Bank FD Calculator

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

How to apply Suryoday Bank Fixed Deposit?

If you want to apply for Suryoday Bank Fixed deposit offline, please visit your nearest Suryoday Bank branch for opening the fixed deposit.

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