Capital Small Finance Bank started its operations as India's first Small Finance Bank on April 24, 2016, after conversion from Capital Local Area Bank. Before converting to a Small Finance Bank, Capital Local Area Bank has been India's most prominent local area bank since January 14, 2000. The bank has more than 232 branches, making it one of India's fastest-growing small finance banks. Capital Small Finance Bank is in Delhi, Haryana, Rajasthan, Himachal Pradesh and Union Territory of Chandigarh.
|Tenure||For General Citizens (p.a.)||For Senior Citizens (p.a)|
|15 days to 30 days||3.5%||4.15%|
|31 days to 45 days||3.5%||4.15%|
|46 days to 89 days||4%||4.65%|
|90 days to 179 days||4.75%||5.4%|
|180 days to less than 1 year||5.5%||6.15%|
|1 year to less than 5 years||7.15%||7.8%|
|5 years and up to 10 years||7.1%||7.75%|
|Note: All interest rates are updated as of 18th May 2023|
It is a term deposit offering the depositors a quarterly compounding interest.
Short Term Deposit
Quarterly Interest Deposit Scheme (QIDS)
It is a type of deposit scheme with a quarterly interest payout option in it.
Monthly Interest Deposit Scheme (MIDS)
It is a scheme designed by the bank with a monthly interest payout option, providing regular monthly payouts to depositors.
Tax Saver FD
If you invest in this FD, you are eligible for a tax deduction of up to ₹1.5 lakhs under Section 80C of the Income Tax Act of 1961.
Note: Only the resident individuals and Hindu Undivided Families (HUFs) can open a tax saver FD with Capital Small Finance Bank
The following are the documents required for opening a fixed deposit with Capital Small Finance Bank:
Listed below are the steps to open a fixed deposit account with Capital Small Finance Bank:
Step 1: Visit your nearest Capital Small Finance Bank branch.
Step 2: Obtain an FD account opening form and fill up all the necessary details like name, contact number, address of residence, PAN, email ID, nominee name, etc.
Step 3: Fill up the deposit tenure based on your financial goal.
Step 4: Attach a cheque worth the deposit amount. However, you can also transfer the amount through internet banking.
Step 5: Attach all the necessary documents and the FD account opening form.
Step 6: Submit the documents to the bank executive.
Step 7: Once the documents are verified, the banker will provide you with an acknowledgement slip.
If you prematurely withdraw from your Capital Small Finance Bank FD, a 1% penal rate is applicable. Furthermore, premature withdrawal facilities without penalty are only available for the Tax Saver FD in case of the depositor’s death.
According to the Income Tax Act of India of 1961, taxpayers can seek deductions under Section 80C if they invest in FDs.
In a given financial year, a taxpayer can avail tax deduction to a maximum of ₹1.5 lakhs from their gross taxable income, provided the following conditions are fulfilled:
When filing the Income Tax Returns (ITR), the taxpayer can provide supporting documents to avail tax benefits on FDs.
Tax Deducted at Source (TDS)
The minimum amount required for investment in a tax saver FD account is ₹100 and multiples of ₹100 after that.
The applicable penalty charge on premature withdrawal in the NRE term deposit account is 1% for any deposit. Moreover, the NRE deposit should be with the bank for at least one year to earn interest on the principal.
Yes. ₹5 lakhs DICGC (Deposit Insurance and Credit Guarantee Corporation) insurance cover applies to Capital Small Finance Bank FD.
FDs provide a guaranteed return on investment and are relatively low-risk compared to other investment instruments.
The right time to invest in a fixed deposit depends on the investor's financial goals, risk appetite, and prevailing interest rates. Generally, it is advisable to invest in fixed deposits when the interest rates are high and are expected to remain stable for the investment period.
Disclaimer: The calculator and the results of the same are based on information inputted by you and extracted from third party sources. The information on this page is for illustrative purposes only and does not amount to any investment advice or recommendation. Wint Wealth has no commercial interest or gain in or from the actions resulting from the information displayed on this page. The information displayed on this page does not constitute an invitation to invest in any product nor is it a promise of performance. Interest rates are not updated in real time and you are advised to make your own enquiries, consult a professional advisor and verify the information prior to taking any investment decisions.