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Capital Small Finance Bank Fixed Deposit

Updated 06 Dec 2023

Fixed deposits have long been a trusted choice for investors looking for assured returns. Capital Small Finance Bank, India's first Small Finance Bank, boasts an impressive array of FD options, making it an attractive proposition for both short-term and long-term investors. Let’s dive into the types, features, and benefits of Capital Small Finance Bank’s FD offerings.

Types of FDs in Capital Small Finance Bank

  • Cumulative Deposit
  • Short Term Deposit
  • Quarterly Interest Deposit Scheme (QIDS)
  • Monthly Interest Deposit Scheme (MIDS)
  • Tax Saver FD

Benefits of Investing in Capital Small Finance Bank Fixed Deposits

  • Period: The FD with Capital Small Finance Bank ranges from 15 days to 10 years.
  • DICGC insurance: The amount invested with the bank is covered by Deposit Insurance and Credit Guarantee Corporation (DICGC) for the total sum of ₹5 lakhs.
  • Minimum amount: Fixed deposits with Capital Small Finance Bank can be opened with an investment of as low as ₹100.
  • Preference to senior citizens: Additional 0.5% p.a. for senior citizens.
  • Nomination facility: Depositors can nominate beneficiaries for their Capital Small Finance Bank FDs investments.

Features of Capital Small Finance Bank FDs

Cumulative Deposit:

  • It is a term deposit offering the depositors a quarterly compounding interest.
  • Scheme tenure: 1 year to 10 years
  • For senior citizens, 0.5% additional interest is applicable.
  • You can avail a loan up to 92.5% of the deposit value.
  • A nomination facility is available.
  • Based on the tenor, the interest rate ranges from 3.5% to 7.5% for the general public and 4.15% to 8.00% for senior citizens.

Short Term Deposit:

  • Scheme tenure: 15 days to 364 days.
  • For senior citizens, 0.5% additional interest is applicable.
  • You can avail a loan up to 92.5% of the deposit value.
  • A nomination facility is available.
  • Based on the tenor, the interest rate ranges from 3.5% to 7.5% for the general public and 4.15% to 8.00% for senior citizens.

Quarterly Interest Deposit Scheme (QIDS):

  • Scheme tenure: 1 year to 10 years.
  • Premature withdrawal before maturity is available as per prevailing rules.
  • For senior citizens, 0.5% additional interest is applicable.
  • You can avail a loan up to 92.5% of the deposit value.
  • A nomination facility is available.
  • Based on the tenor, the interest rate ranges from 3.5% to 7.5% for the general public and 4.15% to 8.00% for senior citizens.

Monthly Interest Deposit Scheme (MIDS):

  • Scheme tenure: 1 year to 10 years
  • You can withdraw as much as 92.5% of the deposit amount.
  • For senior citizens, 0.5% additional interest is applicable.
  • You can avail a loan up to 92.5% of the deposit value.
  • A nomination facility is available.
  • Based on the tenor, the interest rate ranges from 3.5% to 7.5% for the general public and 4.15% to 8.00% for senior citizens.

Tax Saver FD:

  • Minimum investment: ₹100 and in multiples of ₹100.
  • Maximum investment: ₹1.5 lakhs per annum.
  • Scheme tenure: 5 years.
  • Lock-in period: 5 years.
  • Premature withdrawal is not available. However, in the event of the death of the primary holder, the nominee shall be entitled to premature encashment.
  • Based on the tenor, the interest rate ranges from 3.5% to 7.5% for the general public and 4.15% to 8.00% for senior citizens.

Eligibility Criteria

  • Any individual
  • Group of individuals
  • Firm
  • Corporate or club
  • Note: Only the resident individuals and Hindu Undivided Families (HUFs) can open a tax saver FD with Capital Small Finance Bank.

Documents Required

Identity Proofs:

  • Two passport-size photographs.
  • Passport
  • Voter ID card
  • Driving license
  • Aadhaar card
  • PAN card

Address Proofs:

  • Passport
  • Aadhaar card
  • Voter ID card
  • DOB Proof
  • Birth certificate
  • Voter ID card
  • PAN card
  • Aadhaar card

How to open an FD in Capital Small Finance Bank

  • Visit your nearest Capital Small Finance Bank branch.
  • Obtain an FD account opening form and fill up all the necessary details.
  • Fill up the deposit tenure based on your financial goal.
  • Attach a cheque worth the deposit amount.
  • Attach all the necessary documents and the FD account opening form.
  • Submit the documents to the bank executive.
  • Once the documents are verified, you will receive an acknowledgement slip.

Capital Small Finance Bank FD Premature Withdrawal

If you decide to withdraw from your Capital Small Finance Bank FD prematurely, a 1% penal rate is applied. Additionally, premature withdrawal facilities without penalty are only available for the Tax Saver FD in case of the depositor’s death.

FAQs

What minimum investment is required for a Tax saver FD account with Capital Small Finance Bank?

The minimum amount required is ₹100, and multiples of ₹100 thereafter.

What penalty charges apply to an NRE term deposit account on premature withdrawals?

The charge is 1% for any deposit. Moreover, the NRE deposit should be with the bank for at least one year to earn interest.

Is the ₹5 lakhs DICGC insurance cover applicable on Capital Small Finance Bank FD?

Yes, the ₹5 lakhs DICGC insurance cover applies

Why should I invest in fixed deposits when other investment instruments offer better returns?

FDs provide a guaranteed return and are relatively low-risk

When is the right time to invest in an FD?

This depends on the investor's goals, risk appetite, and prevailing interest rates. It's generally good to invest when rates are high and stable.

Disclaimer: Wint Wealth makes no guarantee or warranty on the accuracy of the data provided on this site, the information displayed is subject to change and are provided on an as-is basis. Nothing contained herein is intended to or shall be deemed to be investment advice, implied or otherwise. You are advised to make your own enquiries, consult a professional advisor and verify the information prior to taking any investment decisions. We accept no liability for any loss arising from the use of information contained on this website.

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