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AU Bank Fixed Deposits


Top Features of Regular Fixed Deposits

About Regular Fixed Deposits

    A Fixed Deposit is a capital-protected fixed interest-bearing financial instrument that bears interest on deposits regardless of market conditions. We, at AU Bank, offer you lucrative Fixed Deposit options with high-interest rates, so you need not worry about your wealth. We provide flexible payout options and auto-renewal facilities so you can plan for a better future.

    Furthermore, the various types of deposits like Fixed Deposits, Recurring Deposits, etc., that you book with us are covered under the insurance scheme provided by Deposit Insurance and Credit Guarantee Corporation (DICGC). Hence, you can book funds in multiple names like spouse, parents, etc., to increase your deposits’ insurance coverage and security. For more details, click here.

Features of a Regular Fixed Deposit:

  • Lucrative returns on investment: Earn up to 7.61%* annualized interest on Fixed Deposits depending on your principal amount and tenure. Click here for Fixed Deposit Interest Rates
  • Different payout options: Choose between monthly, quarterly, and cumulative (at maturity) payout options to manage your cash flows.
  • Ease of application: You can complete the entire Fixed Deposit application process online through AU 0101, or through our Video Banking facility, or visit a branch to apply in person.
  • Banking at your convenience: No need to visit a branch; now get all your Fixed Deposit-related service requests executed from the comfort of your home with the help of our Video Banking facility.
  • Flexible account tenure: Decide on a duration ranging from seven days to 10 years, as per your requirement.
 

Benefits of a Regular Fixed Deposit

Here are some of the benefits of Fixed Deposits:
  • Higher interest rate for senior citizens: Avail of special interest rates that are up to 0.50% higher than regular rates if you are a senior citizen. Click here for Fixed Deposit Interest Rates
  • Nomination facility: Nominate a beneficiary to claim the interest and earnings from your regular Fixed Deposit in case of an unfortunate event.
  • Overdraft facility: Avail of Overdraft facilities against your Fixed Deposit as and when required.
  • Partial/premature withdrawal: Flexibility to withdraw funds from your Fixed Deposit in case of an emergency.
  • Low investment: Start your investment journey with us with as little as INR 1,000.
  • DICGC Insurance: We are a scheduled commercial bank, and your deposit is insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC).
  • Options: Choose between callable and non-callable (No premature withdrawal allowed) Fixed Deposits.
 

Eligibility criteria

  • Resident & Non-resident Indians
  • Hindu Undivided Families
  • Sole proprietorship firms
  • Partnership firms
  • Limited companies
  • Trust accounts
 

How to apply for a Regular Fixed Deposit?

  • Video Banking: You can now start a Fixed Deposit through our Video Banking services by clicking here. All you need are your PAN Card and Aadhaar Card.
  • AU 0101 App / NetBanking: As an existing customer, you can apply for a Regular Fixed Deposit through AU 0101 App / NetBanking.
  • Visit your nearest branch: You can also visit your nearest branch to book a Fixed Deposit.
 

How to calculate Fixed Deposit interest

There are two ways by which you can calculate FD interest.
  • Manually: Use the formula A= P(1+r/n)^n*t where A = maturity amount, P = principal amount, r = rate of interest, t = duration of FD, and n = compounded interest frequency
  • Digitally: Alternatively, use an online FD interest calculator. All you need to do is input the principal sum, rate of interest per annum, and tenure of the Fixed Deposit, and you will get the maturity amount.
For more information on general terms & conditions of Fixed Deposits, kindly click here.
 

FAQs

 

Q1. What are the benefits of a Fixed Deposit?

A Fixed Deposit has several advantages over other investment instruments that make it one of the safest investment options. When you avail of a Fixed Deposit, you actually get benefits such as:
  • An assured return yielding product.
  • Depending on the tenure of your Fixed Deposit, you can avail of an Overdraft facility.
  • Flexible tenure options suiting your needs.
  • Hassle-free online application to get you started with your Fixed Deposit account in no time.
  • High Liquidity by opting for premature breaking of your Fixed Deposit with an applicable penalty and subject to terms and conditions.

Q2. Can I get monthly interest on my Fixed Deposit?

Yes, you can opt for your interest to be paid out every month. If you opt for compounding interest, the entire sum will be paid at the end of the FD tenure, when your Fixed Deposit matures.

Q3. What is the maximum amount that can be invested in a Fixed Deposit?

You can invest a minimum of INR 1,000. There is no maximum investment amount for a Fixed Deposit.

Q4. Can I declare my Fixed Deposit investment to avail of tax exemption?

If you hold a Tax Saving Fixed Deposit, you will be eligible for tax exemption up to INR 1,50,000 per year under Section 80C of the Income Tax Act, 1961.
*For Resident Indian Senior Citizens on Fixed Deposits tenure of 24 Months 1 Day to 45 Months / 60 Months to 120 Months, basis 7.40% interest rate per annum. Terms and Conditions apply. Rates are subject to change at the sole discretion of AU Small Finance Bank.

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