Fixed Deposit (FD)

What is a Fixed Deposit?

A fixed deposit (FD) is a secure investment option where you deposit a specific amount of money with a financial institution for a fixed period. It offers guaranteed returns at a fixed interest rate, providing stability and security for your investment. With flexible tenure options, fixed deposits cater to different financial goals. They are a reliable choice, ensuring peace of mind and steady returns.

Standard Fixed Deposit Interest Rates in India

How is the FD Interest Rate calculated?

• Manual Calculation: The Fixed Deposit interest calculation formula is as follows:

A = P (1+r/n) ^ (n * t)

• Online FD Interest Calculator: You can also use an online FD interest calculator to get accurate results. It is best to use the algorithm-based tool as it can be used multiple times rather than calculating manually.

Explore our Fixed Deposit Calculator for more details

Apply for FD using Video KYC at AU Small Finance Bank

You can also apply for an FD via the AU Video Banking facility, where you can video call our representative and initiate the account opening process. To get on a Video Banking call, here are some of the pre-requisites you need to follow:

• Age requirement: 18 years and above
• Device requirement: Smartphone, tablet, or laptop with active internet connection
• Well-lit room for the video call
• Keep original PAN card, blank paper, and blue/black pen handy

Features of Fixed Deposit

• Attractive interest rates on Fixed Deposits
• Tax savings up to INR 1,50,000 per year (for Tax Saver FDs)
• Assured returns for longer tenure of up to 10 years
• Additional interest for senior citizens up to 0.50% p.a.
• Loan facility through FD overdraft
• Nomination facility for claiming interest and earnings

Benefits of Fixed Deposit

Whether you open a regular or tax-saving Fixed Deposit with AU Small Finance Bank, you can avail a host of benefits on the term deposit:

• Risk-free and long-term financial investment
• High rate of interest on term deposits
• Flexible tenure options from 7 days to 10 years (Tax-saving FD: Fixed Tenure - 5 years)
• Assured returns independent of market fluctuations
• Choice of monthly or quarterly interest payouts
• Option for partial or premature withdrawal, subject to additional charges
• Easy online or offline FD booking with a minimum investment of INR 1,000
• FD schemes insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC) as a scheduled commercial bank

Eligibility to Apply for Fixed Deposit

Before you apply for an AU Fixed Deposit, you are required to meet the below-mentioned eligibility conditions:

• Eligible for booking FD: Resident Indians, persons of Indian origin, overseas citizens, HUFs, and non-resident Indians (NRIs)
• Business entities eligible: Partnership firms, sole proprietorship firms, limited companies, HUFs, and trust accounts.

How to Apply for a Fixed Deposit Online / Offline?

AU Small Finance Bank provides various options to apply for a Fixed Deposit online & offline. You can easily book an FD using AU 0101 App & AU 0101 NetBanking or website.

Via an AU 0101 App & NetBanking:

Non-AU Small Finance Bank Customers with no Current or Savings Account relationship can open a Fixed Deposit on AU 0101 App with the help of the following steps.

• Select FD option on the AU 0101 App.
• Enter PAN & Aadhaar details to verify & proceed for E-KYC.
• Confirm your personal and income details & submit FATCA declaration.
• Choose your Fixed Deposit Type, Enter Amount, Tenure, Bank Account Details & Branch.
• Confirm and proceed to fund your account.
• Select either ‘Complete your KYC over Video Call now’ or ‘Schedule a Video Call’ for a later date.
• Confirm your details with our Video Banking Officer, display your PAN Card on the camera, sign on a blank piece of paper & display your signature on the camera.
  • Tap on FD/RD, and select Open FD/RD.

AU Small Finance Bank Customers can open a Fixed Deposit on AU 0101 App with the help of the following steps.

• Login to AU 0101 App
• Select Product, enter Deposit Amount, select Interest Pay-out Frequency, Deposit Period and Debit Account.
• Click on Next.
• Set Maturity Instructions and you may choose to select a Nominee.
• Proceed to book your FD/RD.

FAQs