In This Article, We Know AU Bank FD Rates 2023, Benefits Of AU Bank FD, AU Bank FD Eligibility, How To Apply AU Bank FD.
AU Bank FD Rates 2023: AU Small Finance Bank’s Regular Fixed Deposit ensures the steady and effortless growth of your earnings. With attractive interest rates, multiple interest payout options, and zero penalties on premature closure, it stands as the ideal investment for your hard-earned money. Benefit from AU Bank’s high-interest rates on Fixed Deposits, and senior citizens enjoy an additional 0.5% interest. Invest for as little as Rs 1,000/- and choose between quarterly and monthly interest payout options.
AU Bank offers a diverse range of Fixed Deposits (FDs) providing a good rate of return and various additional benefits. Key features include a nomination facility, flexible tenure options, an auto-renewal facility, different interest payout options, and a loan/overdraft facility. Opening an AU Bank FD online is seamless and can be done with just a click, ensuring a paper-free process.
Benefits Of AU Bank FD
Benefits Of AU Bank FD: A Fixed Deposit (FD) stands as one of the favoured financial instruments for the general saving public in India, offering a higher interest rate compared to a regular savings account. It is considered a safe investment that yields substantial returns over a specified period.
At AU Bank, we provide attractive rates, flexibility, and security for your fixed deposits, with the additional benefit of higher interest rates for our senior citizens. Please take advantage of our convenient facilities, allowing you to book your deposit through Netbanking, along with the automatic renewal option. The minimum investment amount can be as low as INR 1000/-
AU Bank FD Rates 2023
The Fixed Deposit Interest Rates for the specified tenures are outlined below. These rates come into effect starting from June 5, 2023.
For Retail Fixed Deposits in Domestic and NRE/NRO* categories (for amounts below INR 2 Crore)
The relevant Fixed Deposit Interest Rates as of June 5, 2023.
| 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 | 6.75% |
| 12 Months 1 Day to 15 Months | 7.50% |
| 15 Months 1 Day to 18 Months | 7.50% |
| 18 Months 1 Day to 24 Months | 7.25% |
| 24 Months 1 Day to 36 Months | 7.75% |
| 36 Months 1 Day to 45 Months | 7.50% |
| 45 Months 1 Day to less than 60 Months | 7.00% |
| 60 Months to 120 Months | 7.00% |
For Monthly Payout Retail Fixed Deposits in Domestic and NRO categories (for amounts below INR 2 Crore)
Effective Interest Rates on Fixed Deposits starting from June 5, 2023.
| 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 | 7.25% |
| 12 Months 1 Day to 15 Months | 8.00% |
| 15 Months 1 Day to 18 Months | 8.00% |
| 18 Months 1 Day to 24 Months | 7.75% |
| 24 Months 1 Day to 36 Months | 8.25% |
| 36 Months 1 Day to 45 Months | 8.00% |
| 45 Months 1 Day to less than 60 Months | 7.50% |
| 60 Months to 120 Months | 7.50% |
For Senior Citizens (for amounts below INR 2 Crore)
Annual Percentage Yield for Monthly Payouts (%)
Effective Fixed Deposit Interest Rates as of June 5, 2023
| Tenure Bucket | Resident / NRE / NRO Interest Rates | Senior Citizen Interest Rates |
|---|---|---|
| 7 Days to 1 Month 15 Days | – | – |
| 1 Month 16 Days to 3 Months | – | – |
| 3 Month 1 Day to 6 Months | 4.98% | 5.47% |
| 6 Months 1 Day to 12 Months | 6.71% | 7.21% |
| 12 Months 1 Day to 15 Months | 7.45% | 7.95% |
| 15 Months 1 Day to 18 Months | 7.45% | 7.95% |
| 18 Months 1 Day to 24 Months | 7.21% | 7.70% |
| 24 Months 1 Day to 36 Months | 7.70% | 8.19% |
| 36 Months 1 Day to 45 Months | 7.45% | 7.95% |
| 45 Months 1 Day to less than 60 Months | 6.96% | 7.45% |
| 60 Months to 120 Months | 6.96% | 7.45% |
AU Bank FD Eligibility Criteria
- New and existing AU Small Finance Bank customers are eligible to open a Fixed Deposit.
- The following types of customers can open fixed deposit accounts:
- Individuals
- Minors
- Proprietorship
- HUF (Hindu Undivided Family)
- Registered and Unregistered Body
- Cooperative Society
- Trusts
- Partnerships
- NGO
- Private Limited
How To Apply AU Bank FD
- Visit the closest AU Small Finance Bank branch, where our Relationship Manager will assist you through the application process.
- Alternatively, you can reach out to us, and our Customer Care Executive will schedule a service appointment with our Relationship Manager to facilitate the application process.
Read Also: BOB RD Interest Rates 2023: Bank Of Baroda RD Apply Online full Process.
Eligibility For Apply AU Bank FD
- Resident Indians
- Hindu Undivided Families
- Sole proprietorship firms
- Partnership firms
- Limited companies
- Trust accounts
Additional Information For AU Bank FD
- A minimum initial deposit of INR 1,000/- is necessary to initiate a Fixed Deposit.
- PAN is compulsory for Fixed Deposits; however, it becomes mandatory only if the total Fixed Deposit holding per customer per branch exceeds INR 50,000/-
- In the case of premature withdrawals, including sweep-ins and partial withdrawals, the Bank will impose a penalty of 1% on the applicable rate.
FAQ?: AU Bank FD 2023
To enhance your fixed deposit earnings, compare the interest rates offered for different tenures within the same bank and across different banks. Ensure the chosen tenure is neither too short nor too long.
When choosing a fixed deposit, take into account the following aspects:
Compare the FD interest rates offered by various banks.
Evaluate the lender’s credibility by checking the fixed deposit’s safety rating from ICRA or CRISIL.
Decide between a cumulative and non-cumulative fixed deposit.
Opt for a bank that offers excellent customer service and a straightforward process for initiating an FD.
In 2023, IDFC First Bank Fixed Deposits provide the highest interest rates.
