How to Get the Best FD Rates from Capital Small Finance Bank

Fixed deposits (FDs) are one of the most popular and safe investment options in India. They offer guaranteed returns, tax benefits, and liquidity. However, not all FDs are created equal. Different banks offer different interest rates, tenures, and features for their FDs. Therefore, it is important to compare and choose the best FD for your financial goals.

One of the banks that offers attractive FD rates is Capital Small Finance Bank. Capital Small Finance Bank is the first small finance bank in India, which started its operations in 2016. It offers a range of fixed deposit schemes with flexible deposit tenures that range from 15 days up to 10 years. There are also special FD rates for senior citizens.

In this article, we will tell you how to get the best FD rates from Capital Small Finance Bank. We will also answer some frequently asked questions about Capital Small Finance Bank FDs.

Capital Small Finance Bank FD Interest Rates 2023

Capital Small Finance Bank offers FD interest rates of 3.50-7.50% p.a. to the general public and 4.15-8.00% p.a. to senior citizens on tenures ranging from 15 days to 10 years. The interest rate on Capital Small Finance Bank Tax Saving FDs is 7.10% p.a. for the general public and 7.75% p.a. for senior citizen depositors for tenures of 5 years.

The table below shows the latest FD interest rates offered by Capital Small Finance Bank as of October 2023.

Table

TenureGeneral PublicSenior Citizens
15 Days to 30 Days3.50%4.00%
31 Days to 45 Days3.50%4.00%
46 Days to 89 Days4.00%4.50%
90 Days to 179 Days4.75%5.25%
180 Days to less than 1 Year5.50%6.00%
1 Year to less than 5 Years7.15%7.65%
5 Years and upto 10 Years7.10%7.60%
Special Category: 12 Months7.50%8.00%
Special Category: 400 Days7.40%7.90%
Special Category: 600 Days7.40%7.90%
Special Category: 900 Days7.40%7.90%

As you can see, the highest FD rate offered by Capital Small Finance Bank is 7.50% p.a. for a tenure of 12 months for the general public and 8.00% p.a. for senior citizens. The lowest FD rate is 3.50% p.a. for tenures of 15 days to 45 days for both the general public and senior citizens.

How to Get the Best FD Rates from Capital Small Finance Bank

To get the best FD rates from Capital Small Finance Bank, you need to consider the following factors:

  • Tenure: The longer the tenure, the higher the interest rate. However, you also need to consider your liquidity needs and tax implications. If you need money in the short term, you may opt for a shorter tenure. If you want to save tax, you may opt for a longer tenure of 5 years or more.
  • Amount: The higher the amount, the higher the interest rate. However, you also need to consider the safety and diversification of your portfolio. If you invest a large amount in one FD, you may expose yourself to the risk of losing your principal in case of bank failure. Therefore, it is advisable to spread your investments across different banks and FD schemes.
  • Frequency: The frequency of interest payout affects the effective interest rate. If you opt for a cumulative FD, you will get the interest compounded quarterly and paid at maturity. This will give you a higher effective interest rate than a non-cumulative FD, where you will get the interest paid monthly, quarterly, half-yearly, or annually. However, if you need regular income from your FD, you may opt for a non-cumulative FD.
  • Senior Citizen Status: If you are a senior citizen, you will get an additional interest rate of 0.50% p.a. on all FD tenures. However, you need to provide proof of your age and identity to avail this benefit.
  • Special Category: Capital Small Finance Bank offers special FD rates for certain tenures, such as 12 months, 400 days, 600 days, and 900 days. These rates are higher than the regular FD rates for the same tenures. However, you need to check the availability and terms and conditions of these schemes before investing.

Frequently Asked Questions

Here are some of the common questions that people ask about Capital Small Finance Bank FDs:

Q1. How can I open a Capital Small Finance Bank FD?

You can open a Capital Small Finance Bank FD online or offline. To open an FD online, you need to visit the official website of the bank and fill in the online application form. You will need to provide your personal details, PAN, Aadhaar, and bank account details. You will also need to choose the FD scheme, tenure, amount, and interest payout option. You will then need to verify your identity using an OTP and make the payment using net banking, debit card, or UPI. You will receive a confirmation message and an e-receipt for your FD.

To open an FD offline, you need to visit the nearest branch of Capital Small Finance Bank and fill in the physical application form. You will need to provide your personal details, PAN, Aadhaar, and bank account details. You will also need to choose the FD scheme, tenure, amount, and interest payout option. You will then need to submit the form along with a cheque or cash for the FD amount. You will receive a confirmation message and a physical receipt for your FD.

Q2. How can I close a Capital Small Finance Bank FD?

You can close a Capital Small Finance Bank FD online or offline. To close an FD online, you need to login to your net banking account and select the FD that you want to close. You will need to enter the OTP and confirm the closure. The FD amount along with the interest will be credited to your linked bank account.

To close an FD offline, you need to visit the nearest branch of Capital Small Finance Bank and submit the original FD receipt along with a closure request form. You will need to provide your bank account details and sign the form. The FD amount along with the interest will be credited to your bank account or paid by cheque or cash.

Q3. How can I renew a Capital Small Finance Bank FD?

You can renew a Capital Small Finance Bank FD online or offline. To renew an FD online, you need to login to your net banking account and select the FD that you want to renew. You will need to choose the new tenure, amount, and interest payout option. You will then need to enter the OTP and confirm the renewal. The renewed FD will start from the date of maturity of the old FD.

To renew an FD offline, you need to visit the nearest branch of Capital Small Finance Bank and submit the original FD receipt along with a renewal request form. You will need to choose the new tenure, amount, and interest payout option. You will then need to sign the form and submit it. The renewed FD will start from the date of maturity of the old FD.

Q4. Is Capital Small Finance Bank FD safe?

Capital Small Finance Bank FD is safe as it is regulated by the Reserve Bank of India (RBI) and follows the prudential norms and guidelines issued by the RBI. Capital Small Finance Bank FD is also covered by the Deposit Insurance and Credit Guarantee Corporation (DICGC), which provides insurance cover of up to Rs. 5 lakh per depositor per bank in case of bank failure.

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