Understanding AU Small Finance Bank FD Interest Rates
AU Small Finance Bank offers a range of FD schemes with attractive interest rates, catering to diverse investor needs. These rates are subject to change based on the deposit tenure and prevailing market conditions.
AU Small Finance Bank FD Interest Rates 2024:
The interest rates offered by AU Small Finance Bank vary across different deposit tenures. Typically, longer tenures tend to fetch higher interest rates. However, it’s essential to analyze the rates across various durations to align with your investment goals and risk appetite.
- AU Small Finance Bank FD Interest Rates For Domestic & NRE/NRO Retail Fixed Deposits (for amounts less than INR 2 Crore), the applicable interest rates on Fixed Deposits as of April 17, 2024, are as follows:
Tenure Bucket Interest Rates Interest Rates (Annualized)
7Days to 1 Month 15Days 3.75% –
1Month 16 Days to 3Months 4.25% –
3Months 1 Day to 6Months 4.75% 4.84%
6Months 1 Day to 12Months 6.50% 6.66%
12Months 1 Day to 15Months 7.75% 7.98%
15Months 1 Day << 18Months 7.50% 7.71%
18Months 8.00% 8.24%
18Months 1 Day to 24Months 7.75% 7.98%
24Months 1 Day to 36Months 7.50% 7.71%
36Months 1 Day to 45Months 7.50% 7.71%
45Months 1 Day to less than 60Months 7.25% 7.45%
60Months to 120Months 7.25% 7.45%
(Note: NRE/NRO refers to Non-Resident External/Ordinary accounts.)
- AU Small Finance Bank FD Interest Rates For Non-callable rates for Retail Fixed Deposits of INR >=1 Crore to < 2 Crore, the applicable interest rates on Fixed Deposits as of January 24, 2024, are as follows:
Tenure Bucket ROI Annualised Rate
12Months 1 Day -15Months 7.85% 8.08%
15Months 1 Day – less than 18Months 7.60% 7.82%
18Months 8.10% 8.35%
18Months 1 Day – 24Months 7.85% 8.08%
24Months 1 Day – 36Months 7.60% 7.82%
(Note: These rates are not applicable to Non-Resident Indians (NRI))
- AU small finance bank fd interest rates for senior citizens (for amounts less than INR 2 Crore), the applicable interest rates on Fixed Deposits as of April 17, 2024, are as follows:
Tenure Bucket Interest Rates Interest Rates (Annualised)
7Days to 1 Month 15Days 4.25% –
1Month 16 Days to 3Months 4.75% –
3Months 1 Day to 6Months 5.25% 5.35%
6Months 1 Day to 12Months 7.00% 7.19%
12Months 1 Day to 15Months 8.25% 8.51%
15Months 1 Day < 18Months 8.00% 8.24%
18Months 8.50% 8.77%
18Months 1 Day to 24Months 8.25% 8.51%
24Months 1 Day to 36Months 8.00% 8.24%
36 Months 1 Day to 45Months 8.00% 8.24%
45Months 1 Day < 60Months 7.75% 7.98%
60Months to 120Months 7.75% 7.98%
(Note:Only resident Indian Senior Citizen customers, having a banking relationship with AU Small Finance Bank are eligible for the above.)
- For Domestic & NRE/NRO Retail Monthly Payout Fixed Deposits (for amounts less than INR 2 Crore), the applicable interest rates on Fixed Deposits as of April 17, 2024, are as follows:
Tenure Bucket Resident / NRE / NRO Interest Rates Senior Citizen Interest for Monthly payout p.a.(%) for Monthly payout p.a.(%)
7Days to 1 Month 15Days – –
1Month 16 Days to 3Months – –
3Month 1 Day to 6Months 4.73% 5.23%
6Months 1 Day to 12Months 6.47% 6.96%
12Months 1 Day to 15Months 7.70% 8.19%
15Months 1 Day to less than 18Months 7.45% 7.95%
18Months 7.95% 8.44%
18Months 1 Day to 24Months 7.70% 8.19%
24Months 1 Day to 36Months 7.45% 7.95%
36Months 1 Day to 45Months 7.45% 7.95%
45Months 1 Day to less than 60Months 7.21% 7.70%
60Months to 120Months 7.21% 7.70%
Factors Influencing AU Small Finance Bank FD Interest Rates:
Several factors influence FD interest rates, including market dynamics, economic conditions, and RBI policies. By staying informed about these factors, investors can anticipate potential rate changes and capitalize on favourable investment opportunities.
Types Of AU Small Bank FD Schemes :
Here are the different types of FD schemes offered by AU Small Finance Bank, explained in a simple way:
1. Regular Fixed Deposits:
– Minimum deposit amount: Rs 1,000
– Tenure: 7days to 10years
– Additional 0.50% p.a. interest rate for senior citizens
– Monthly or quarterly payout options available
– Option for interest payout at maturity
– Partial/premature withdrawal allowed
– Nomination and overdraft facility available
– Accounts can be opened through Video Banking, AU 0101 App / NetBanking, or by visiting the nearest branch
2. AU Green Fixed Deposit – Planet First :
– Funds are invested in green initiatives like Solar Projects, Waste Management, etc.
– Tenure: 2 years to 5 years
– Options for receiving interest payments monthly or quarterly
– Option for cumulative interest payout at maturity for compounding
– Overdraft facility available against Green FD
3. AU 5-Year Tax Saving Fixed Deposit:
– Eligible for tax deduction up to Rs 1.5 lakhs under Section 80C
– Interest earned is taxable
– Deposit amount: Min- Rs 1,000; Max- Rs 1.5 lakhs per financial year
– Lock-in period: 5 years
– Additional 0.50% p.a. interest rate for senior citizens
– Premature withdrawal not allowed
– Accounts can be opened through Video Banking, AU 0101 App / NetBanking, or by visiting the nearest branch
Sure, here’s a simplified explanation of two important features related to Fixed Deposits:
4. Fixed Deposit Sweep-In Facility:
– Allows savings and current account holders to earn higher interest rates while keeping their funds liquid.
– Links savings/current accounts to multiple FDs.
– When there’s insufficient balance in the account for a transaction, the deficit amount is covered from the linked FD(s), without breaking them completely.
– The deficit amount is then credited to the account.
5. Premature Withdrawal of Fixed Deposits:
– In case of premature withdrawal of your FD:
– Interest is paid after deducting a penal rate from the applicable rate.
– The applicable rate is either the base rate at the time of opening the FD or the contracted rate, whichever is lower.
– Penal rate for premature closure is usually 1%.
– No interest is paid if the FD is withdrawn within 7 days of opening.
– For NRE deposits, no interest is credited if the withdrawal is made before completing 1 year from the date of opening the account.
Benefits of AU Small Finance Bank FD Interest Rates:
Investing in AU Small Finance Bank FDs offers numerous benefits, including guaranteed returns, capital preservation, and tax-saving opportunities. Moreover, the bank’s strong credibility and customer-centric approach instill confidence among investors seeking reliable investment avenues.
Conclusion:
AU Small Finance Bank FDs present an attractive investment opportunity for risk-averse investors seeking stable returns. By understanding the nuances of FD interest rates and leveraging market insights, investors can make informed decisions to optimize their investment portfolios.
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