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Capital Small Finance Bank FD Interest Rate

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, Capit...Read More

Capital Small Finance Bank Fixed Deposit Interest Rates

Note: All interest rates are updated as of 30 Jan 2024
TenureFor General Citizen (p.a)For Senior Citizen (p.a)
15 days to 30 days3.5 %4.15 %
31 days to 45 days3.5 %4.15 %
46 days to 89 days4 %4.65 %
90 days to 179 days4.75 %5.4 %
180 days to less than 1 year5.5 %6.15 %
1 year to less than 5 years7.15 %7.8 %
5 years and up to 10 years7.1 %7.75 %
max_returns
12 Months
7.5 %8 %
*400 Days7.4 %7.9 %
*600 Days7.4 %7.9 %
*900 Days7.4 %7.9 %

Types of Capital Small Finance Bank Fixed Deposits

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.

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.

Quarterly Interest Deposit Scheme (QIDS)

It is a type of deposit scheme with a quarterly interest payout option in it.

  • 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.

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.

  • 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.

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.

  • 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 of this deposit in respect of which a nomination is in force, the nominee shall be entitled to premature encashment of the deposit.
  • You can book this FD with quarterly or maturity payout.
  • For senior citizens, 0.5% additional interest is applicable.
  • You cannot avail a loan under this scheme.
  • A nomination facility is available.

Pros of investing in Capital Small Finance Bank Fixed Deposit

  • 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. 

Cons of investing in Capital Small Finance Bank Fixed Deposit

  • Not dynamic: Interest rates on FD are not dynamic. So, it fails to overcome the risk of inflation. 
  • Fixed rate: Fixed deposits offer a fixed rate on the investment. Hence, you cannot benefit from higher returns in cases of increased market interest rates.

Capital Small Finance Bank FD 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 for Capital Small Finance Bank FD

The following are the documents required for opening a fixed deposit with Capital Small Finance Bank:

  • Proof of identity: Two passport-size photographs and any of these: Passport, Voter ID card, driving licence, Aadhaar card, and PAN card.
  • Proof of address: Passport, Aadhaar card, and Voter ID card.
  • DOB proof: Birth certificate, Voter ID card, PAN card, Aadhaar card.

How to Open an FD 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. 

Capital Small Finance Bank Fixed Deposit Premature Withdrawal

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. 

Tax implications on Capital Small Finance Bank FD

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:

  • Taxpayers can invest in FD either through public or private sector banks. 
  • Individuals and HUFs can avail tax deductions by investing in tax savings FDs. 
  • Bank's five-year tax saving FD offers exemptions under Section 80C. 
  • Investors cannot get loans against these FDs. 
  • In the case of joint holders, only the first holder can get tax benefits. 

How to claim tax benefits?

When filing the Income Tax Returns (ITR), the taxpayer can provide supporting documents to avail tax benefits on FDs. 

Tax Deducted at Source (TDS)

  • TDS will be deducted from the interest accrued on the FDs if the interest is more than ₹40,000 (₹50,000 for senior citizens) in a given financial year. 
  • For Resident customers, if you have submitted your PAN card details, the deduction will be 10% per year on the interest. The bank will deduct 20% of TDS annually without a PAN card.

FAQs

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

The minimum amount required for investment in a tax saver FD account is ₹100 and multiples of ₹100 after that.

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

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.

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

Yes. ₹5 lakhs DICGC (Deposit Insurance and Credit Guarantee Corporation) insurance cover applies to Capital Small Finance Bank FD.

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

FDs provide a guaranteed return on investment and are relatively low-risk compared to other investment instruments.

When is the right time to invest in an FD?

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.

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Capital Small Finance Bank

Calculate Capital Small Finance Bank FD Returns

₹1,00,000
12 Months
15 days to 30 days31 days to 45 days46 days to 89 days90 days to 179 days180 days to less than 1 year1 year to less than 5 years5 years and up to 10 years12 Months*400 Days*600 Days*900 Days
7.5 %
Yes
No
Maturity Amount₹1,07,500

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