AU Bank 2024 Interest Rate For FD- The FD interest rates at AU Small Finance Bank range from 3.75-7.75% per annum. to the general public and 4.25 to 5.25 percent per year to seniors with terms ranging from seven days to one hundred and sixty months. The AU Small Finance Bank Tax Saving FDs have an annual interest rate of 7.20 percent. for the general public and 7.70 percent annually. for five-year deposits made by senior citizens. Additionally, the bank provides NRIs with a selection of NRO and NRE fixed deposit products.
The interest rate for a bank deposit account with a fixed-dollar amount of money in it is the annual percentage rate (APR) charged by the bank for the loan of funds from the account. The APR is expressed as a percentage and varies based on the type of account, the term of the loan, and other factors. For example, if you open an account with a fixed-dollar amount and agree to make monthly payments, your bank may charge an interest rate that reflects how much they would receive if they lent the funds in your account. On the other hand, if you open an account with a variable-amount deposit, such as a mutual fund or stocks, your bank may charge an interest rate based on their assessment of what they could earn by lending out that money. This is known as an adjusted or blended rate.
AU Bank 2024 Interest Rate For FD
Because the Reserve Bank of India (RBI) has designated AU Small Finance Bank as a scheduled bank, its depositors are eligible for deposit insurance from the Depositor Insurance and Credit Guarantee Corporation (DICGC). In the event of a scheduled bank’s failure or merger or amalgamation, the deposit insurance cover provided by DICGC, a subsidiary of the RBI, safeguards each depositor’s fixed, savings, current, and recurring deposits up to Rs 5 lakh.
Customers at AU Small Finance Bank can choose between regular fixed deposits and tax-saving fixed deposits. It provides appealing interest rates for all investment tenures. Seniors who make investments in fixed deposits receive additional interest. The small finance bank has interest rates in the 3.75 percent per annum range. to 7.75% p.a. on various terms. AU Small Finance Banks has a long history of serving small and middle-class individuals, small and micro businesses, and individuals who do not have direct access to traditional banking systems. The AU Bank FD rates function similarly to those of other regular banks. It not only provides a plethora of plans and schemes, but also a plethora of Fixed Deposit (FD) options for individuals and seniors.
AU Bank 2024 Interest Rate For FD Details
| Bank Name | AU Bank |
| Article Name | AU Bank Interest Rate For FD |
| Category | Trending |
| Official Website | Click Here |
About AU Small Finance Bank FD
Indian scheduled commercial bank AU Small Finance Bank Limited was founded in 1996 as AU Financiers (India) Ltd as a car finance company and changed its name to a small finance bank on April 19, 2017. Serving low- and middle-income individuals as well as micro/small businesses that do not have access to traditional banking and finance channels, AU Small Finance Bank has a long history of being a retail-focused and customer-centric organization. The lending, deposit, and payment services that the bank offers are comprehensive.
AU Bank 2024 Interest Rate For FD Features
- With AU Bank’s Fixed Deposit program, you can save a portion of your income to reach life’s milestones and enjoy interest rates comparable to those of the bank’s FDs.
- Additionally, HDFC offers regular FD options and tax-saving deposits. A five-year tax-free fixed deposit plan can also help you make huge profits.
- In addition, you can defer paying tax on your Fixed Deposit earnings up to a maximum of INR 1.5 lacs per year in accordance with section 80C. You can easily open an online AU Fixed Deposit account by logging into your AU Small Finance internet banking account.
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Types of AU Small Finance Fixed Deposit Schemes
There are different types of AU Small Finance Fixed Deposit schemes. These include regular fixed deposit (FD) schemes, recurring deposit (RD) schemes, term deposit (TD) schemes, and maturity deposit (MD) schemes. Regular FD schemes are regularly-scheduled deposits offered by banks or financial institutions that are typically set to a fixed interest rate for a specific period of time. RD schemes allow depositors to make regular deposits over a specified period of time with the option to withdraw them at any point in time. Term TD schemes offer a fixed-term deposit that can be withdrawn at any point in-between the term of the deposit and its maturity date. MD schemes offer a long-term deposit that is set to an interest rate that is higher than a regular TD scheme but lower than a regular FD scheme.
Regular Fixed Deposits
5 – Year Tax Saving Fixed Deposit
The detailed description of these fixed deposit schemes is as follows:
Regular Fixed Deposit
Indian residents, HUFs, Trusts, Single Proprietorship Businesses, etc., are best suited for regular FDs. who are willing to take little risk in order to get decent returns. The following additional information pertains to the AU Small Finance Bank’s regular fixed deposit plan:
- Tenure – 7 days to 120 months.
- Minimum deposit amount – Rs. 1,000
- Premature withdrawal – available at a 1% penalty.
- Automatic renewal – available.
- Payment and Interest Compounding – payout & annual compounding
- Interest receivable – monthly or quarterly basis.
- The account can be operated by:
- Hindu Undivided Families
- Resident Indians
- Limited Companies
- Sole Proprietorship Firms
- Trust accounts
Five Year Tax Saving Fixed Deposit
Specifications under the 5-year tax saving fixed deposit scheme are as follows:
- Tenure – 5-year (Fixed)
- Senior citizen interest rate – 0.50% additional on regular citizen’s interest rate.
- Loan option – not available.
- Minimum deposit amount – Rs. 1,000.
- Nomination option – not available.
- Tax exemption – up to Rs. 1,50,000.
- Eligibility – Indian resident and any member of HUFs (Hindu Undivided Families)
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FD interest rates offered by AU Small Finance Bank
As a trusted and reliable financial institution, AU Small Finance Bank offers a diverse range of FD interest rates and financial products to meet the needs of its clients. We offer competitively-priced FD accounts that are tailored to suit different types of customers and their individual needs. Some of the current FD interest rates offered by AU Small Finance Bank include:-
FD Interest Rates Offered by AU Small Finance Bank for General Public (Less than Rs.2 crore)
| Tenure Bucket | Interest Rates |
| 7 Days to 1 Month 15 Days | 3.75% |
| 1 Month 16 Days to 3 Months | 4.25% |
| 3 Months 1 Day to 6 Months | 5.00% |
| 6 Months 1 Day to 12 Months | 6.10% |
| 12 Months 1 Day to 15 Months | 7.35% |
| 15 Months 1 Day to 18 Months | 7.20% |
| 18 Months 1 Day to 24 Months | 7.20% |
| 24 Months 1 Day to 36 Months | 7.75% |
| 36 Months 1 Day to 45 Months | 7.75% |
| 45 Months 1 Day to 60 Months | 7.20% |
| 60 Months 1 Day to 120 Months | 7.20% |
FD interest rates offered by AU Small Finance Bank for Senior Citizens (Less than Rs.2 crore)
| Tenure Bucket | Interest Rates |
| 7 Days to 1 Month 15 Days | 4.25% |
| 1 Month 16 Days to 3 Months | 4.75% |
| 3 Months 1 Day to 6 Months | 5.50% |
| 6 Months 1 Day to 12 Months | 6.60% |
| 12 Months 1 Day to 15 Months | 7.85% |
| 15 Months 1 Day to 18 Months | 7.70% |
| 18 Months 1 Day to 24 Months | 7.70% |
| 24 Months 1 Day to 36 Months | 8.25% |
| 36 Months 1 Day to 45 Months | 8.25% |
| 45 Months 1 Day to 60 Months | 7.70% |
| 60 Months 1 Day to 120 Months | 7.70% |
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FD interest rates offered by AU Small Finance Bank for NRE (Less than Rs.2 crore)
| Tenure Bucket | Interest Rates |
| 7 Days – 1 Month 15 Days | NA |
| 1 Month 16 Days – 3 Months | NA |
| 3 Months 1 Day to 6 Months | 4.98% |
| 6 Months 1 Day to 12 Months | 6.07% |
| 12 Months 1 Day to 15 Months | 7.31% |
| 15 Months 1 Day to 18 Months | 7.16% |
| 18 Months 1 Day to 24 Months | 7.16% |
| 24 Months 1 Day to 36 Months | 7.70% |
| 36 Months 1 Day to 45 Months | 7.70% |
| 45 Months 1 Day to 60 Months | 7.16% |
| 60 Months 1 Day to 120 Months | 7.16% |
Benefits of AU Bank Fixed Deposit
Some of the best benefits of AU Bank Fixed Deposit are its high interest rates, security, and convenience. The bank offers fixed deposit products with a variety of term lengths, from one day to five years. This allows you to choose the amount and frequency of deposits you want to make. Additionally, the bank provides secure storage for your funds by using a combination of government-backed bonds and cash reserves.
In case of an emergency, your deposit can be quickly accessed without having to go through lengthy paperwork processes. As for convenience, AU Bank Fixed Deposit is available in a wide range of denominations, making it easy to manage your finances. Lastly, the bank’s fixed deposit products are available across many different locations, giving you the freedom to choose where and how you manage your money. These are just some of the many benefits that come with choosing an AU Bank Fixed Deposit account. AU Bank FDs come with several features and benefits. Listed here are some of the key ones for you to consider.
Attractive AU Bank FD rates
It goes without saying that the interest rates offered by AU Small Finance Bank are among the most appealing on the market. You can earn returns of up to 7.50 percent as a non-senior citizen, while seniors can earn returns of up to 8% annually. You can get a better understanding of the actual returns for various interest rates using the AU Bank FD Calculator.
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Guaranteed and Safe Returns
The AU Bank FD can guarantee returns regardless of market conditions because it is not a market-linked instrument. The amount you invest, the term you choose, and the AU Bank FD rate that is currently in effect all play a role in the returns you receive. Additionally, the Deposit Insurance and Credit Guarantee Corporation (DICGC) guarantees each and every AU Bank FD plan.
Flexible Options for Investment Amount and Tenor
AU Bank allows FDs to be opened with a wide range of investment terms ranging from 7 days to 10 years. You can start an FD with as low as ₹1,000.
Tax Saving
The 5-Year Tax Saving Fixed Deposit is yet another useful service provided by the bank. Under Section 80C of the Income Tax Act of India, you can save up to 1.5 lakh per year by doing this. In addition, you build wealth using the AU Small Finance Bank FD rate of 6.95 percent. Senior citizens will receive an additional 0.5%, resulting in a rate of 7.45 percent.
Other Features and Benefits AU Bank Interest Rate For FD
In addition, AU Bank offers the following services:
Overdraft on your Fixed Deposit that acts as a loan that can be repaid later, the ability to make a premature withdrawal in case of emergency by paying marginal charges, and the ability to choose your payout frequency such as monthly, quarterly, or annually are all options. In the event of your death, you can nominate someone to claim your principal and interest.
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How to Open FD in AU Bank
While you can constantly decide to book an AU Bank fixed store by truly visiting the closest AU Bank office and finishing up the fundamental structures, you likewise have the choice of booking, making due, and recharging your FD on the web. This is incredibly advantageous and should be possible through the bank’s site or portable application, anyplace and whenever.
Online
AU Bank’s Video Banking or NetBanking/AU 0101 App make opening a Fixed Deposit account (FD) simple for existing Savings bank account holders. You can open an account online through the bank’s website if you are not already one. To open an AU FD online, follow the steps listed below.
- The AU 0101 application can be downloaded from the Google PlayStore.
- Install the application on your smartphone.
- Enter personal information such as your name, account number, and mobile number.
- Use the provided OTP to verify your bank’s registered mobile number.
- You can access the “Deposits” section once the app has been verified.
- Select “Term Deposits.”
- Choose the FD amount and tenor.
- In a few minutes, the money will be transferred from the Savings account to the new FD account after you click “OK.”
Offline
Notwithstanding, on the off chance that you like to book an AU Bank fixed store by genuinely visiting your closest AU Bank office, you can follow these means:
- Visit an AU bank office nearest to you.
- Demand for a structure to open a FD.
- Peruse and fill the structure cautiously and join your unmistakable in the applicable regions.
- Present the structure alongside every one of the significant supporting archives to the bank authorities.
- Make the installment.
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How is the AU Bank FD Maturity Amount Calculated?
The AU Bank maturity amount is calculated using the formula: P (1 + r/n)
- P is the amount invested,
- r is the rate of interest,
- n is the frequency of compounding, and
- t is the investment tenor.
While you can utilize this equation to physically work out the FD sum, it very well may be inclined to human mistakes and be very tedious, particularly in the event that you are looking at changed sorts of FDs and loan fees. The more helpful and secure approach to doing this is by utilizing the AU Bank FD adding machine. Utilizing this free internet based instrument, you can quickly decide the profits you are probably going to get across the different FD types, sums, and tenors.
The AU Bank FD Calculator Can Be Used
- For access to the AU Bank FD calculator, go to the online link.
- For opening the FD, enter the principal investment amount. AU Bank will accept a minimum of 1,000.
- The investment tenor is here. An AU Bank FD can be reserved for seven days to ten years.
- Choose how frequently the returns will be paid out. Returns can be deposited into your account on a monthly, quarterly, or annual basis with AU Bank. In most cases, rather than dipping into their savings, individuals select this option to meet recurring household expenses. You also have the option of receiving the entire amount upon maturity.
- Enter the appropriate AU Bank FD rates for the selected tenor. Keep in mind that you will receive an additional 0.50 percent in interest if you are a senior citizen. The final variable to enter into the AU Bank FD calculator is this one.
- Simply click the calculate button, and the tool will immediately display your maturity amount and investment returns.
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