North East Small Finance Bank FD Rates
Through Stable Money, you can secure fixed deposit rates of up to 9.00% p.a. for regular citizens and up to 9.50% p.a. for senior citizens by investing in North East SF Bank FDs. The interest rates vary across different tenures as shown in the table below:
You can reinvest the maturity amount after the fixed deposit term ends. Additionally, North East SF Bank allows customers to avail a loan/OD against an FD during the investment tenure.
For those concerned about safety, Stable Money ensures secure and convenient FD investments. Our partner banks and NBFCs are RBI-registered, and up to ₹5 lakh of your investment is insured under DICGC (Deposit Insurance and Credit Guarantee Corporation), a fully-owned subsidiary of RBI.
So, what are you waiting for? Install the Stable Money mobile app and invest now!
Features of North East Small Finance Bank FD
North East SF Bank offers highly competitive interest rates to its fixed deposit account holders. Below, you can take a look at some of the key features of their FD scheme:
- One can open an FD with a minimum investment of ₹1,000 through Stable Money
- Maximum tenure can be up to 4 years 11 months
- FD seekers get the option of an auto-renewal facility while opening an account
- Investors can opt for loan against FD
Besides these key features, it is important to remember that the bank charges a penalty of 1% on the applicable interest rate if someone decides to withdraw their investments before maturity.
Eligibility Criteria for North East SF Bank FD Booking
The following parties or entities are eligible to open a fixed deposit with North East Small Finance Bank:
- Any individual applicant who is an Indian
- Minors
- Hindu Undivided Families (HUFs)
- LLPs
- Proprietorships
- Companies
- Non-Resident Indians (NRIs)
- Associations, societies, clubs and trusts
Documents Required to Open North East Small Finance Bank FD
In the following table, you can find the documents needed to contribute to a North East SF Bank fixed deposit:
Eligible Entities | Documents Needed |
Company | |
KYC verification document, i.e., Aadhaar card | |
Memorandum of Association | |
ID proof issued by authorised signatories | |
Certificate of incorporation | |
Passport-size photos of all the Directors | |
Individual applicants, HUFs, and Proprietorships | KYC documents like the Aadhaar card |
PAN card | |
Declaration deed | |
Passport-size photographs of the account holders | |
Trusts | KYC documents |
PAN card | |
Trust deed copy | |
Passport-size photos of each member of the trust | |
Authorising documents of the members who will be responsible for operating the account | |
Copy of Certificate of Registration | |
Partnership Firms | PAN card |
KYC documents | |
Letter from partners who will manage the account | |
Passport-size photos of every partner | |
Associations and Clubs | KYC documents |
PAN card | |
Passport size photographs | |
Board resolution acknowledging the initiative of opening an FD |
Types of North East Small Finance Bank FDs
Interested customers can expect to earn competitive North East Small Finance Bank FD Rates from a regular fixed deposit. You can start investing with a minimum amount of ₹1,000 and opt for a quarterly interest payout.
From the time of account opening with Stable Money, through to withdrawing your funds upon maturity or renewing the FD, everything can be managed in a hassle-free manner.
Moreover, you may partly withdraw your funds in case there is an emergency. However, it can attract a premature closure penalty of up to 1% at the discretion of the bank.
Premature Withdrawal of North East SF Bank FD
Stable Money allows customers to withdraw fixed deposit funds prematurely. However, premature withdrawals can attract up to 1% penalty on the applicable rate of interest as per the current fixed deposit policies.
Tax on North East SF Bank FD
According to the Income Tax Act, of 1961, TDS applies to the interest earned from fixed deposit accounts maintained with North East Small Finance Bank. This means a 10% TDS will be cut from your yearly FD return when the interest earnings exceed ₹40,000 in a financial year. To avoid this deduction legally, you can submit a 15G Form or 15H Form (for senior citizens) if your annual income comes under the taxable limit.
Note: It is highly advised that you provide PAN card details when opening an FD. Otherwise, the bank will deduct 20% of TDS from your earned interest amount.
Why Choose Stable Money to Book North East SF Bank FD?
Opening a North East Small Finance Bank FD through Stable Money can be completed in just a few minutes. Moreover, the app asks for minimum personal details and therefore you can invest through your smartphone anywhere and anytime.
Stable Money gives you:
- Quarterly interest compounding
- Interest rates as high as 9.50% per annum
- Varied range of tenures starting from just 6 months 1 day to 4 years 11 months for North East SF Bank
- 24/7 customer support for prompt dispute resolutions
Thus, you can rely on our website for safe and secure investments.