Fincare Small Finance Bank, Now AU Small Finance Bank, has announced revised interest rates for Savings Accounts Interest Rate and Fixed Deposit Interest Rates. The Interest Rates revised between 3% to 7% for the Savings Accounts and 3.75% to 8.77% for Fixed Deposits. Check the latest FD Rates for General and Senior Citizen Deposits in 2024.
Fincare Small Finance Bank, one of the small finance banks, has announced a revision in the interest rates on savings bank deposits and fixed deposits. As per the bank’s official website, these new interest rates will be effective from April 17, 2024. The bank offers the highest interest of 7.25% on savings accounts. The maximum interest rates for fixed deposits are 8% for general citizens and 8.50% for senior citizens.
Let’s look closer at the interest rates for savings account balances. If the balance is maintained within one lakh, the interest rate is 3%. For balances between one lakh and five lakhs, the interest rate is 4%. For balances between five lakhs and ten lakhs, the interest rate is 5%. For balances between ten lakhs and 25 lakhs, the interest rate is 7%. Even if the balance is over 25 lakhs, the interest rate remains 7%. For balances up to 5 crores, the interest rate is 7.25%, and for balances between 5 crores and 10 crores, the interest rate is 7%.
Moving on to fixed deposits, the interest rate for general citizens ranges from 3.75% to 8% for deposits of one week to 10 years. The interest rate ranges from 4.25% to 8.50% for senior citizens.
For an 18-month deposit, regular citizens can earn 8% interest, while senior citizens can earn 8.50% interest. For a deposit of 1 lakh, the interest earned for regular citizens is Rs. 11,625 at an 8% interest rate, and for senior citizens, it is Rs. 12,352 at an 8.50% interest rate.
Fincare Small Finance Bank Savings Account Interest Rates 2024
| Savings Account Incremental Amount slab | Rate of Interest applicable w.e.f 17th Apr’24 |
|---|---|
| Balances less than INR 1 Lac | 3.00% |
| Balances from INR 1 Lac to less than INR 5 Lacs | 4.00% |
| Balances from INR 5 Lac to less than INR 10 Lacs | 5.00% |
| Balances from INR 10 Lacs to less than INR 25 Lacs | 7.00% |
| Balances from INR 25 Lacs to less than INR 1 Crore | 7.00% |
| Balances from INR 1 Crore to less than INR 5 Crores | 7.25% |
| Balances from INR 5 Crore to less than INR 10 Crores | 7.00% |
Fincare Small Finance Bank FD Rates 2024
The Fixed Deposit Interest Rates are based on the tenure, deposited amount, and deposit categories. To get a complete structure, please visit the official web link here.
