Capital Small Finance Bank Fixed Deposit Rates 2024

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Established in 2000, Capital Small Finance Bank became operational as India’s 1st small finance bank in the year 2016. The bank was started with a mission to inculcate advanced technologies and modern banking facilities in the rural and underserved parts of the country. The bank offers attractive fixed deposit rates and various FD schemes, catering to varying customer requirements. Let us find out more about the Capital Small Finance Bank FD rates, FD types, eligibility and more.

Minimum Deposit	₹100
Maximum Deposit	No upper limit
Minimum Tenure	15 days
Maximum Tenure	10 years
Lock-in Period	5 years for Tax Saver FD Scheme
Interest Rates for General Citizens	3.50% to 7.50% (including special category interest rates)
Interest rates for Senior Citizens	4% to 8% per annum (including special category interest rates)

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Capital Small Finance Bank FD Rates – February 2024

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Tenure	General Citizen	Senior Citizen

Features and Benefits of Capital Small Finance Bank FD

Capital Small Finance Bank FD interest rates are lucrative, with an additional 0.50% interest for senior citizens. Besides the high-yielding interest rates, let us find out some other salient features and benefits of the fixed deposits offered by the bank.

You can avail of overdraft facilities of up to 92.5% of the FD principal along with the accrued interest as of the date of filing the loan application.
You can add nominee details for your deposit, either during the FD application or any time before maturity.
It offers convenient net banking facilities enabling you to book fixed deposits along with almost all essential banking services from the comfort of your home or any part of the country.

How to Book Capital Small Finance Bank FD?

Depositors can book their fixed deposit traditionally by visiting a Capital Small Finance Bank branch. Follow the given below steps in order to do so.

Step 1: Visit your nearest Capital Small Finance Bank branch along with all the necessary documents.
Step 2: Approach the help desk and obtain an FD account opening form.
Step 3: Fill in the application form carefully.
Step 4: Attach the application form along with the necessary documents and submit it.

You will receive an acknowledgement receipt once your FD application request is verified.

Documents Required to Book Capital Small Finance Bank FD

Certain essential documents are required while booking a term deposit account with the bank. Here is the list of documents required to book a fixed deposit with Capital Small Finance Bank:

FD account opening application form
Passport size photographs
Identity Proof (Voter ID Card, Passport, Driving License)
Address Proof (Aadhaar card, Utility Bills)
PAN Card or Form 60/61
Proof of age (Birth Certificate)

Eligibility to Open Capital Small Finance Bank FD

The eligibility criteria for opening a fixed deposit account with Capital Small Finance Bank are listed below:

Applicant type: Eligible applicant includes any Individuals, clubs, joint stock companies, or partnership firms.
Age (in case of individual applicants): The age of the applicant must be at least 18 years. Minors are also allowed to maintain a term deposit only under the guidance and supervision of their parents.

Types of Capital Small Finance Bank FD Schemes

Here are various types of fixed deposit schemes offered by the bank, enabling its customers to earn lucrative Capital Small Finance Bank fixed deposit rates.

1. Short Term Fixed Deposit

A short-term FD scheme is designed to make short-term investments with less than a year tenure. The minimum tenure of an FD investment starts from 15 days, which can be easily booked from the convenience of your home using the Capital Mobile+ app.

Minimum Deposit: No limit specified
Maximum Deposit: No limit specified
Tenure: 15 days to 364 days
Interest Rate: 3.50% to 6% per annum (including the senior citizen rates)
Eligibility: Indian residents, Firms, Clubs, Corporates

2. Cumulative Deposit

It is a regular type of term deposit scheme offered by the bank, allowing account holders to enjoy high Capital Small Finance Bank interest rates bearing the lowest possible risk. Under this scheme, the bank offers stable and higher returns, which are compounded quarterly.

Minimum Deposit: No limit specified
Maximum Deposit: No limit specified
Tenure: 1 year to 10 years
Interest Rate: 3.50% to 8.00% per annum (including the senior citizen and special category rates)
Eligibility: Indian Residents, Firms, Companies, Clubs

3. Tax Saver Fixed Deposit

Upon investing in this bank’s Tax Saver Fixed Deposit scheme, depositors can claim a tax deduction of ₹1.5 lakh in a financial year under Section 80C of the IT Act. However, no premature withdrawals are allowed within the 5-year lock-in period of this scheme.

Minimum Deposit: ₹100
Maximum Deposit: ₹1,50,000
Tenure: 5 years
Interest Rate: 7.10% to 7.60% per annum (including the senior citizen rates)
Eligibility: Indian Residents, HUFs

4. NRO Term Deposit

A Non-Resident Ordinary or NRO term deposit allows non-residents to earn a higher rate of interest on their income generated in Indian currency or within India. The source of income can be dividends from stock, rental income, etc.

Minimum Deposit: No limit specified
Maximum Deposit: No limit specified
Tenure: 15 days to 10 years
Interest Rate: 3.50% to 7.50% per annum (including special category rates)
Eligibility: NRIs

5. NRE Rupee Fixed Deposit

A Non-Resident (External) Account or NRE term deposit allows non-residents to invest their foreign earnings and earn high FD rates. It allows them to earn the prevailing high FD rates and convert the foreign denomination into Indian currency.

Minimum Deposit: No limit specified
Maximum Deposit: No limit specified
Tenure: 1 year to 10 years
Interest Rate: 7.10% to 7.50% per annum (including the special category)
Eligibility: NRIs

Conclusion

Capital Small Finance Bank FD rates are quite secure and high-yielding, with the maximum interest rate for a general citizen being 7.50%. While for a senior citizen, the rate of interest can go as high as 8% per annum. The bank offers various types of fixed deposit schemes to cater to various consumer requirements. Consider going through the terms and conditions of the FD scheme before making any significant investments.

FAQs

Is my Capital Small Finance Bank FD amount insured with DICGC?

Yes, all FD investments below ₹5 lakhs made with the Capital Small Finance Bank are covered under the insurance provided by Deposit Insurance and Credit Guarantee Corporation (DICGC).

Is the Capital Small Finance FD interest income taxable?

The interest income generated from a Capital Small Finance fixed deposit is subject to 10% TDS if it exceeds ₹ 40,000. The limit is ₹50,000 for senior citizens, and also, if the account holder fails to disclose his or her PAN details to the bank, the applicable TDS will be 20%.

Is there any cutoff date after which no maturity instructions can be altered?

No, there is no such cut-off date. You can modify maturity standing instructions at any time during the tenure of the fixed deposit.

If I choose the auto-renewal option now, will I get the same rate for the next term?

No, by opting for an auto-renewal option, the deposit amount will get reinvested at the prevailing rate on the due date. That means you, as a customer, cannot mitigate the interest rate risk by opting for an auto-renewal option.

Can I open a Capital Small Finance FD account without a PAN card?

You can book a Capital Small Finance FD without a PAN card but at a higher TDS. The applicable TDS for people without a PAN card will be 20%, while normally, the TDS is 10% for the individual with a PAN card.

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Disclaimer

This article is solely for educational purposes. Stable Money doesn't take any responsibility for the information or claims made in the blog.