| Started On | 1996 |
| Head Quarters | Rajasthan |
| CRISIL Rating | NA |
| CEO | Sanjay Agarwal |
| Listed on exchange as | AU Small Finance Bank Ltd. |
| ICRA Rating | NA |
| Tenure | Regular customers | Senior citizens |
|---|
Regular fixed deposit schemes are an excellent investment choice for risk-averse investors due to their high AU Bank FD rates and flexibility. Residents of India, HUFs, single proprietorship businesses, trusts, and other entities can invest in this plan and receive attractive returns based on the current AU Finance FD rates. For further details on the mentioned plan, please see the table below:
Scheme Details
AU Small Finance Bank's regular fixed deposits can be opened by:
The 5-Year Tax Break Customers who participate in the Fixed Deposit Scheme benefit from tax breaks in addition to increased savings. This product can be purchased either individually or jointly (individuals or HUFs); however, in the event of a joint account, the tax advantage on the interest received is only available to the principal account holder. Investors can deduct up to Rs. 1.5 lakh from their profits under Section 80C.
Scheme Details
Tenures beginning from 7 days to a year or less than a year are known as short term fixed deposits, and their interest rates start from 3.5% to 5% depending on the number of days of the deposit for general customers, and from 4% to 5.5% for senior citizens.
Medium-term fixed deposit tenures, i.e, from 1 year to 5 years, withhold interest rates are 6% for general customers and 6.5% for senior citizens based on the period of lock-in.
Long-term FD goes from 5 years to 10 years, and the interest rate is 6.25% for general customers and 6.75% for senior citizens.
| Name | Tenure | Interest rate |
|---|
AU Small Finance Bank FD account can be opened through different modes like Mobile App, Internet Banking, and offline.
1) Internet Banking
Follow the below-mentioned steps for opening an AU Small Finance Bank FD account via internet banking-
2) Mobile App - AU Small Finance Bank App
Follow the steps mentioned ahead to open an FD account via AU Small Finance Bank App-
3) Opening AU Small Finance Bank FD Offline
For opening an AU Small Finance Bank FD account via offline mode, one has to visit the nearest AU Small Finance Bank branch. Fill out the AU Small Finance Bank FD application form and present all the necessary documents with the deposit amount. On successful processing of the application, an FD receipt will be provided by the AU Small Finance Bank.
Individuals or entities satisfying the following criteria can opt for a fixed deposit in AU Small Finance Bank–
The following documents have to be furnished for opening an AU Small Finance Bank FD-
An investment in AU Small Finance Bank Tax Saving FD entitles to tax saving up to Rs. 1,50,000 p.a. No other AU Small Finance Bank FD entitle to tax saving under Section 80C of the Income Tax Act.
Also, note that the interest income from the AU Small Finance Bank Fixed Deposit is taxable according to the slab rates of income tax. Also, the interest income is subject to a TDS of 10% if the income from AU Small Finance Bank FD exceeds Rs. 40,000 p.a.
For senior citizens, the limit is Rs. 50,000 p.a. Also, if the investor fails to provide PAN Card details to the bank, the TDS rate will be 20%.
AU Small Finance Bank provides loans against their Fixed Deposits. The rate of interest for the loan will be between 4.5-7.5%.
All AU Small Finance Bank Fixed Deposits can be withdrawn prematurely, excluding the tax-saving Fixed Deposits. AU Small Finance bank levies a 1% penalty on the interest for all premature withdrawals irrespective of investment tenure.
Is the FD account automatically renewed?
If you have not provided the bank any instructions on the following steps to be taken once the account has matured, the lender will renew your deposit for the previously specified tenure.
Can I extend the term of my existing FD account?
No, you cannot modify the term of your current FD account.
Is the nomination service accessible if I want to create a savings account with the bank?
Yes, if you want to create an FD account with the bank, you can use the nomination service.
Can I prematurely liquidate my FD using net banking or mobile banking?
No, you cannot cash out your Fixed Deposit using mobile or net banking. To finish the process, you must go to the local bank branch.
How often will I earn interest on my FD?
You can choose to receive interest on your FD on a monthly or quarterly basis.
What are the documents required for AU Small Finance Bank FD Application?
To create a fixed deposit account with AU Small Finance Bank, you must have the following papers on hand:
What is the Premature Withdrawal time for AU Small Finance FD Scheme?
AU Small Finance Bank now allows customers to withdraw cash from their ordinary fixed deposit account at any time. There might be a variety of reasons for doing so, such as a financial emergency, wedding ceremony expenditures, or an unforeseen trip adventure. However, if a person withdraws early, they must pay a penalty of 1% of the relevant interest rate.