ESAF Small Finance Bank 2024- ESAF Small Money Bank offers FD loan fees of 4.00-8.10% p.a. to the overall population and 4.50-8.60% p.a. to senior residents on residencies going from 7 days to 10 years. The bank likewise offers different fixed store items for NRIs, for example, NRO and NRE fixed stores. ESAF Small Money Bank has been perceived as a booked bank by the RBI, which sets aside its investors qualified for installment protection given by the Contributor Protection and Credit Assurance Company (DICGC). The store protection cover from DICGC, a RBI auxiliary, safeguards combined stores up to Rs 5 lakh made by every contributor, including his proper stores, reserve funds, current, and repeating stores, in each booked bank in the event of the disappointment or consolidation/combination of a planned bank.
The Small Finance Bank (SFFB) is a non-profit financial institution that provides affordable loans to individuals and small businesses in developing countries. Established in 2015, the SFFB has worked with partners to provide financial services to low-income communities in countries including Senegal, Malawi, and Nigeria. The SFFB makes loans available through its branches and partner organizations and offers a range of products, including savings accounts, small business loans, and microfinance products.
ESAF Small Finance Bank 2024
When it comes to investing in fixed deposits, ESAF Small Finance Bank provides individuals with interest rates that are appealing. The bank offers annual interest rates up to 8.0%. to the general public, while senior citizens receive 8.50% per year in interest. For periods ranging from 365 days to 545 days, 547 days, and 727 days, the interest rate is highest. Customers can now make investing in their FDs an appealing option thanks to features like auto-renewal, reinvestment, and the ability to borrow against the FD. A term deposit is affordable because it can be opened with as little as Rs. 1,000.
Individuals can choose between investing in regular fixed deposits or tax saver fixed deposits at ESAF Small Finance Bank. The Small Finance Bank (SFFB) is a non-profit financial institution that provides affordable loans to individuals and small businesses in developing countries. Established in 2015, the SFFB has worked with partners to provide financial services to low-income communities in countries including Senegal, Malawi, and Nigeria. The SFFB makes loans available through its branches and partner organizations and offers a range of products, including savings accounts, small business loans, and microfinance products.
ESAF Small Finance Bank 2024 Interest Rate For FD Details
| Bank Name | ESAF Small Finance Bank |
| Article Name | ESAF Small Finance Bank Interest Rate For FD |
| Category | Trending |
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About ESAF Small Finance Bank FD
The Small Finance Bank (SFFB) is a non-profit financial institution that provides affordable loans to individuals and small businesses in developing countries. Established in 2015, the SFFB has worked with partners to provide financial services to low-income communities in countries including Senegal, Malawi, and Nigeria. The SFFB makes loans available through its branches and partner organizations and offers a range of products, including savings accounts, small business loans, and microfinance products.
The SFFB is organized as a non-profit organization, with the goal of providing quality financial services at affordable rates. It is supported by individual donors, foundations, and other charitable organizations. The SFFB works with partners around the world to provide financial services to low-income communities in these countries. This includes offering training programs for its staff members on topics such as money management and loan processing. In addition to its work abroad, the SFFB also holds a small amount of capital for emergency lending purposes within its home country of the United States. The SFFB operates primarily from its headquarters in Washington D.C., but it also has branch offices in several cities across the U.S., including New York City, Los Angeles, San Francisco, and Chicago.
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Types of ESAF Small Finance Bank FD Schemes
There are different types of ESAF Small Finance Bank FD schemes, such as Fixed Deposit, Advance Deposit and Savings Deposit. Each type of FD scheme has its own advantages and disadvantages. Fixed deposit schemes allow you to invest a fixed amount of money for a specified period of time. These types of schemes provide a guaranteed return on your investment. Advance deposit schemes allow you to make larger deposits and earn higher interest rates than fixed deposit schemes. Advance deposit schemes are often used by individuals who need quick access to funds for short-term financial needs, such as buying a car or paying off debt.
Regular Fixed Deposit (With Reinvestment of Interest Component)
- Minimum sum to put down: Tenure: Rs. 1,000
- The loan against deposits and overdraft facility are available for terms of seven days to ten years.
- There is also a facility for auto-renewal and nomination.
- Depositors can choose to pay interest quarterly or on a monthly basis.
- If they choose the monthly interest pay-out option, the interest will be paid on a monthly basis at a lower rate.
- Senior citizen FD depositors can get an additional 0.50% interest rate.
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Hrudaya Deposit
- Depositors in this scheme have the option to serve the unbanked and under-banked segments of society.
- Depositors also have the option to select the group of borrowers, geography, and the purpose for which they want their deposit to be used.
- This ESAF Small Finance Bank scheme is available to both resident and non-resident Indian individuals.
- The minimum deposit amount is: Tenure: 1 lakh rupees There is a facility for premature withdrawal up to one year old.
Premature Withdrawal of Fixed Deposits
- If deposits are withdrawn prematurely within seven days of the deposit’s date, no interest will be paid.
- Interest will be paid after deducting the penal rate from the applicable rate.
- One of the two conditions would result in the lower applicable rate:
- The interest rate that was in effect at the time for the deposit period for which the FD remained with the bank is the interest rate for the original or contracted tenor of the deposit.
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ESAF Small Finance Bank FD Interest Rates
| Period | Interest Rates (% p.a.) | |
| Regular Citizens | Senior Citizens | |
| 7 days to 14 days | 4.00 | 4.50 |
| 15 days to 59 days | 4.50 | 5.00 |
| 60 days to 90 days | 5.00 | 5.50 |
| 91 days to 182 days | 5.25 | 5.75 |
| 183 days to 1 year | 6.00 | 6.50 |
| 1 year 1 day to less than 2 years | 7.75 | 8.25 |
| 2 years to less than 3 years | 8.00 | 8.50 |
| 3 years to less than 5 years | 5.75 | 6.25 |
| 5 years to 10 years | 5.25 | 5.75 |
| 999 days (2 years 8 months & 26 days) | 8.10 | 8.60 |
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NRO Fixed Deposit Interest Rates of deposits less than Rs 2 crore w.e.f. 15 February 2024
| Period | Interest Rates (% p.a.) |
| 7 days to 14 days | 4.00 |
| 15 days to 59 days | 4.50 |
| 60 days to 90 days | 5.00 |
| 91 days to 182 days | 5.25 |
| 183 days to 1 year | 6.00 |
| 1 year 1 day to less than 2 years | 7.75 |
| 2 years to less than 3 years | 8.00 |
| 3 years to less than 5 years | 5.75 |
| 5 years to 10 years | 5.25 |
| 999 days (2 years 8 months & 26 days) | 8.10 |
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ESAF Small Finance Bank Fixed Deposit Interest Rate Calculator
The ESAF Small Finance Bank Fixed Deposit calculator is a user-friendly and hassle-free tool for quickly calculating the maturity amount and interest earned and due at policy termination. You can determine the appropriate FD amount by entering some fundamental information. An investor can use the FD Calculator to determine the rates for fixed deposits by following these steps.
Customers must use the online ESAF FD calculator to check the maturity amount before investing in a fixed deposit with ESAF Small Finance Bank. Provide straightforward information such as the principal amount (deposit amount), the term of the FD, and the applicable bank FD rates.
Conclusion
In this article, we will provide you with an overview of the interest rates and fees offered by various small finance banks (SFLBs). We will also discuss how these interest rates compare to other types of financial institutions and how they can impact your overall cost of borrowing.
Small Finance Bank Interest Rate For FD, RD, Forex Conclusion: A SFLB’s interest rate is an important factor to consider when choosing a financial institution. The interest rate is usually expressed as an annual percentage and is used to calculate the amount of money that can be borrowed over a given period of time. It is often used as a benchmark for comparison purposes.
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