ESAF Small Finance Bank FD Interest Rates
ESAF Small Finance Bank offers competitive Fixed Deposit (FD) interest rates, catering to diverse savings goals and risk appetites. The interest rates range from 4.00%-8.50% for regular citizens and 4.50%-9.00% for senior citizens. Whether you're a young professional seeking high returns, a senior citizen prioritising security, or someone aiming for stability, ESAF has an FD option for you.
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ESAF Small Finance Bank Fixed Deposit Rates 2024
Fixed Deposit Interest Rates for Domestic Deposits Less Than ₹2 Cr. w.e.f. 1 January 2024
| Period | Regular Citizens | Senior Citizens |
| 7 days to 14 days | 4.00 | 4.50 |
| 15 days to 59 days | 4.50 | 5.00 |
| 60 days to 90 days | 5.00 | 5.50 |
| 91 days to 182 days | 5.25 | 5.75 |
| 183 days to 1 year | 6.00 | 6.50 |
| 1 year 1 day to less than 2 years | 8.00 | 8.50 |
| 2 years to less than 3 years | 8.50 | 9.00 |
| 3 years to less than 5 years | 6.75 | 7.25 |
| 5 years to 10 years | 6.25 | 6.75 |
NRE Fixed Deposit Interest Rates for Deposits Less Than ₹2Cr. w.e.f. 1 January 2024
| Period | Interest Rates (% p.a.) |
| 1 year | 6.00 |
| 1 year 1 day to less than 2 years | 8.00 |
| 2 years to less than 3 years | 8.50 |
| 3 years to less than 5 years | 6.75 |
| 5 years to 10 years | 6.25 |
NRO Fixed Deposit Interest Rates for Deposits Less Than ₹2Cr. w.e.f. 1 January 2024
| Period | Interest Rates (% p.a.) |
| 7 days to 14 days | 4.00 |
| 15 days to 59 days | 4.50 |
| 60 days to 90 days | 5.00 |
| 91 days to 182 days | 5.25 |
| 183 days to 1 year | 6.00 |
| 1 year 1 day to less than 2 years | 8.00 |
| 2 years to less than 3 years | 8.50 |
| 3 years to less than 5 years | 6.75 |
| 5 years to 10 years | 6.25 |
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What are the Features of ESAF Small Finance Bank Fixed Deposit Rates?
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Interest Rates:
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Applicable for new and renewed deposits.
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Same FD interest rates for Senior Citizens.
TDS on interest as per Income Tax rules.
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Tenor and Closure:
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Minimum tenor: 7 days.
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No interest before 7 days.
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Penalty for premature closure.
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Interest Rate Calculation:
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Original tenor rate.
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Rate at deposit opening, subject to penalty.
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NRO Recurring Deposits:
Similar rates apply.
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Revisions:
Rates are subject to periodic changes.
People Also Read: Which Bank has highest interest rates in FD
What are the Different Types of FD Schemes Available in ESAF Small Finance Bank?
ESAF Small Finance Bank offers a variety of Fixed Deposit (FD) schemes to cater to the diverse needs of depositors. Here are the different types of FD schemes available:
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Regular Fixed Deposit:
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Minimum Deposit Amount: Rs 1,000
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Tenure: 7 days to 10 years
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Loan against deposits/overdraft facility available
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Auto-renewal and nomination facilities are provided
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Quarterly or monthly payout options
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Monthly interest pay-out option available at a discounted rate
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Additional 0.50% interest for senior citizen FD depositors
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Hrudaya Deposit:
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Minimum Deposit Amount: Rs.1 lakh
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Tenure: 1 year and above
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Opportunity to engage with the lowest strata of society
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Option to serve the unbanked and under-banked segments
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Depositors can choose the group of borrowers, geography, and purpose
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Available for both resident and non-resident Indian individuals
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Premature withdrawal facility is available
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Premature Withdrawal of Fixed Deposits:
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No interest for withdrawals before 7 days from the deposit date
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Interest paid after deducting the penal rate from the applicable rate
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The applicable rate is the lower of the original tenor rate or the rate at the time of withdrawal
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Compare FD Interest Rates of Top Financial Institutions
| BANKS | GENERAL CITIZENS | SENIOR CITIZEN |
| SBI FD Rates | 3.50% - 7.10% | 4.00% - 7.60% |
| HDFC Bank FD Rates | 3.00% - 7.20% | 3.50% - 7.75% |
| ICICI Bank FD Rates | 3.00% - 7.10% | 3.50% - 7.65% |
| Axis Bank FD Rates | 3.00% - 7.10% | 3.50% - 7.75% |
| PNB FD Rates | 3.50% - 7.25% | 4.00% - 7.75% |
| Yes Bank FD Rates | 3.25% - 7.75% | 3.75% - 8.25% |
| Kotak Mahindra FD Rates | 2.75% - 7.25% | 3.25% - 7.75% |
| Bandhan Bank FD Rates | 3.00% - 5.00% | 3.75% - 5.75% |
| Union Bank of India FD Rates | 3.00% - 7.00% | 3.50% - 7.50% |
| Indusind Bank FD Rates | 3.50% - 7.85% | 4.25% - 8.25% |
| Canara Bank FD Rates | 4.00% - 7.25% | 4.00% - 7.75% |
| Bank of Baroda FD Rates | 3.00% - 7.25% | 3.50% - 7.75% |
| IDFC Bank FD Rates | 3.00% - 7.50% | 3.50% - 8.00% |
| Indian Bank FD Rates | 2.80% - 6.70% | 2.80% - 7.20% |
| DBS Bank FD Rates | 2.50% - 5.50% | 2.50% - 5.50% |
| UCO Bank FD Rates | 2.55% - 5.05% | 3.80% - 6.30% |
| Bank of India FD Rates | 3.00% - 7.25% | 3.00% - 7.75% |
| IDBI Bank FD Rates | 2.90% - 5.30% | 3.40% - 5.90% |
| Central Bank of India FD Rates | 2.75% - 5.15% | 3.25% - 5.65% |
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What is the Eligibility Criteria to Open an Account in ESAF Small Finance Bank Fixed Deposit?
Any individual, whether a new or existing customer of ESAF Small Finance Bank, can open a fixed deposit account. This inclusive approach ensures that both new and loyal customers can benefit from their FD offerings.
What are the Documents Required to Open an Account in ESAF Small Finance Bank Fixed Deposit?
To initiate the process, you need to submit one of the following documents:
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PAN card
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Passport
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Birth certificate
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Voters ID
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School leaving certificate
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LIC policy
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Pension payment order
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ID card issued by Government authority/PSU/Defence
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Senior citizens card issued by Indian Railways or Indian Airlines
How To Apply for ESAF Small Finance Bank Fixed Deposit?
Whether you prefer the convenience of online applications or a personal visit, ESAF Small Finance Bank makes it easy. You can apply for an FD account by either submitting your application online or by visiting the nearest branch of the bank.
ESAF Small Finance Bank Fixed Deposit Interest Rate Calculator
ESAF Small Finance Bank Fixed Deposit calculator is an easy-to-use, hassle-free tool that helps in the quick calculation of the maturity amount and the interest earned receivable at the end of the policy tenure. By entering some basic details, you can calculate the correct FD amount.
You can use the ESAF Small Finance Bank FD Calculator available on Policybazaar.com to check the returns on your FD investment.
FAQ's
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What tenure options are available for FD schemes?
Tenure options range from 7 days to 10 years. -
Is it possible to avail of a loan against an FD with ESAF Small Finance Bank?
Yes, once you have an FD account with ESAF Small Finance Bank, you can avail of a loan against your fixed deposit. -
What is the minimum deposit required to open an FD account with ESAF Small Finance Bank?
The minimum deposit amount is Rs.1,000, and you can deposit in multiples of Rs.1,000, with no specified maximum limit. -
Can I reinvest my matured FD amount?
Yes, you have the option to reinvest your maturity amount. Choose a tenure of your preference for reinvestment or opt to have the sum disbursed to your bank account.
*All savings are provided by the insurer as per the IRDAI approved
insurance plan. Standard T&C Apply
+ Trad plans with a premium above 5 lakhs would be taxed as per applicable
tax slabs post 31st march 2023
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
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