Fincare Small Finance Bank FD

Fincare Small Finance Bank emerged in 2017 due to a fruitful partnership between Future Financial Services and Disha Microfin. Fincare Small Finance Bank, headquartered in Bengaluru, has swiftly expanded its presence across India. With an extensive network of 919 offices and strategically placed 35 ATMs throughout the country. Fincare Small Finance Bank proudly holds a noteworthy A+ credit rating for its fixed deposits. A testament to its unwavering commitment to financial stability and reliability. The bank provides various fixed deposit options, including smart and NRE fixed deposits. Senior citizens who choose the smart fixed deposit can enjoy an additional 0.50% interest annually. FD interest rate in fincare small finance bank for the general public, ranges from 3.00% p.a. to 6.75% p.a., depending on the chosen tenure. To illustrate, for 3 years, 1 day to 42 months, the bank offers its highest rate of 6.75%, while senior citizens are eligible for an even higher rate of 7.25%.

Fincare Small Finance Bank FD Rates

The table provided below showcases the Fincare Small Finance Bank fixed deposit rates to both the general public and senior citizens.

Fincare Small Finance Bank Tax Saver Deposit

NRO Fixed Deposit Interest Rates of deposits less than Rs 2 crores w.e.f. 26 July 2023

NRE Fixed Deposit Interest Rates of deposits up to Rs 10 crores w.e.f. 26 July 2023

Different FD Schemes that Fincare Small Finance Bank Provides

The Fincare small finance bank offers various FD schemes that individuals can apply for. The table below provides details on fd rates of fincare small finance bank, deposit ranges, and additional facilities:

Eligibility Criteria

Fincare Small Finance Bank offers fixed deposit accounts to a wide range of applicants, including:

• Resident Individuals: This includes Indian citizens residing in the country.
• Hindu Undivided Family (HUFs): HUFs can also take advantage of Fincare Small Finance Bank’s fixed deposit offerings.
• Non-Resident Indians (NRIs): NRIs looking to invest in fixed deposits are also eligible.
• Corporates: Companies and business entities can open fixed deposit accounts with the bank.
• Partnership Firms: Partnership firms are eligible for fixed deposits with Fincare Small Finance Bank.
• Sole Proprietorship: Sole proprietorships can invest their funds in fixed deposits the bank offers.
• Associations, Trusts, and Societies: Organisations such as associations, trusts, and societies can also explore fixed deposit options.

Required Documents

To open a fixed deposit account with Fincare Small Finance Bank, you must provide the following essential documents:

• PAN Card: Your Permanent Account Number (PAN) card is required for identity and tax purposes.
• Aadhaar Card: Your Aadhaar card serves as proof of identity and residence.
• Passport-size Photographs: Recent passport-sized photographs of the account holder(s).
• Address Proof: Valid proof of your current address, such as a utility bill or rental agreement.
• PAN Form 60: If you do not possess a PAN card, you must fill out and submit PAN Form 60 as an alternative.

Process of Applying for FD at Fincare Small Finance Bank

Opening a fixed deposit account with Fincare Small Finance Bank is a straightforward process that can be done online or offline. Here are the two methods, with their respective steps.

Online Method

Step 1: Go to the official website of Fincare Small Finance Bank.

Step 2: Navigate to the ‘Explore our products’ section.

Step 3: Choose ‘Fixed Deposits’ from the available options.

Step 4: Proceed to the application by clicking the “Apply now” button.

Step 5: Complete and submit the application form by providing the required details.

Step 6: You will receive an OTP on the mobile number you mentioned in the form. Enter this OTP.

Step 7: Click on ‘Confirm’ to verify your submission.

Step 8: Your application has been successfully submitted. Rest assured, a bank representative will soon reach out to you with personalised guidance on the next steps.

Offline Method

Step 1: Visit a Fincare Small Finance Bank branch.

Step 2: Obtain the fixed deposit application form from the branch.

Step 3: To complete the application process, please provide all necessary details on the form and make sure you have gathered all the required documents.

Step 4: Submit the completed application form and the necessary documents to the bank branch.

Advantages of Investing in Fixed Deposits with Fincare Small Finance Bank

• Flexible Tenure: Fincare Small Finance Bank offers fixed deposit tenures spanning from 7 days to 7 years, allowing you to choose the duration that suits your financial goals. While you can’t alter the tenure once your investment begins, you can prematurely withdraw if necessary.
• Convenience: If you already have a Fincare Small Finance Bank savings account, opening Fixed Deposits is a breeze. Moreover, you have the flexi­bility to withdraw them whenever needed, giving you financial freedom.
• DICGC Insurance: Your investment with Fincare Small Finance Bank is protected by the Deposit Insurance and Credit Guarantee Corporation (DICGC) for up to ₹5 lakhs, offering peace of mind.
• Auto-Renewal Feature: The bank offers an auto-renewal facility for FDs. When your FD matures, it automatically gets renewed, ensuring your funds continue to grow.
• Tax Benefits: Fincare Small Finance Bank’s tax saver FD enables deductions of up to ₹1.5 lakhs under Section 80C, helping you save on taxes while growing your wealth.
• Loan Against FD: Investors can utilise their FDs as collateral to secure loans; however, this option does not apply to tax saver FDs.
• Low Entry Point: You can initiate fixed deposits with Fincare Small Finance Bank with a minimum investment of ₹5,000, making it accessible to many investors.
• Senior Citizen Benefits: Senior citizens are accorded special privileges, receiving an additional 0.5% interest rate compared to regular investors, enhancing their returns.
• Flexible Payout Options: Fincare Small Finance Bank FDs provide the flexibility of choosing between monthly or quarterly interest payouts, whether you prefer cumulative or non-cumulative options.
• Nomination Facility: Depositors can nominate beneficiaries for their Fincare Small Finance Bank FD investments, ensuring a smooth transfer of assets in the event of unforeseen circumstances.

Conclusion

In a world where our financial choices profoundly shape our future, Fincare Small Finance Bank emerges as a reliable partner. Investing in Fincare Small Finance Bank’s fixed deposits provides the convenience of flexible tenure, tax benefits, and using your FDs as collateral for loans. It guides individuals toward achieving financial success. Whether you aim to safeguard your savings or make them grow, Fincare Small Finance Bank can be your trustworthy ally. Offering competitive FD rates, it presents an opportunity to make smart decisions and embark on your journey toward financial prosperity with confidence and assurance.

Fincare Small Finance Bank FD FAQ’s :-