Fixed Deposit Archives - ESAF Small Finance Bank

Fixed Deposit

To earn the best interest rates, invest your money in the regular FD account of ESAF Small Finance Bank. You can invest your money with effortless ease, thanks to the well-established processes set for the same. From Regular FD and Tax savers FD account, you can choose the best one that fits your needs. With amazing interest rates and add on features, ESAF is the bank you can bank on. Come and experience the joy of banking and let your FD balance grow like never before.


While opening the account, the customer needs to provide proof of age establishing that he/she is a Senior Citizen. To accomplish this, either of the following can be submitted:

  • Secondary School Leaving Certificate (10th Class)
  • LIC Policy
  • Voters Identity Card
  • Pension Payment Order
  • Birth Certificate issued by the competent authority
  • Passport
  • Defence ID Card / PSU Issued ID Cards / Govt ID Card (Provided they have the cardholder's photo, signature and date of birth)
  • Senior Citizen Cards issued by Indian Airlines / Indian Railways
  • PAN Card

TDS is deducted every time the Bank pays/re-invests interest during the Financial year.In addition TDS is also deducted on interest accrued(but not yet paid) at the end of financial year.

The TDS Certificate, Form 16A, for TDS deducted during a calendar quarter, will be issued in the next month of the respective quarter.

If your total interest income for the year does not fall within the overall taxable limits, you should let us know. You can do this by submitting a form as per the provisions of the Income Tax Act.
A few things to note:

  • You can get the 15AA form from the Assessing Officer of the Income Tax department.
  • Even with the 15H/15AA form, the tax that has already been deducted by way of TDS during the year prior will not be refunded. However, you will get a certificate, which can be used while filing your tax return.
  • 15H/15AA Forms are valid only for the financial year in which they are issued.
  • A fresh 15G/H form needs to be completed for each deposit that is placed with the Bank, and it should be completed within the first week of the financial year.

Yes. If the change or enhancement in your deposit portfolio earns a cumulative interest along with that of the earlier portfolio greater than INR 10,000/- you will be liable for TDS on your current portfolio.

Yes. No interest shall be paid,if the deposit is closed within the minimum period prescribed for the product (7 days for Domestic Deposits and 1 year for NRE Deposits) .After which , interest will be paid @ Retail FD rate prevailing at the date of contract for the period run minus applicable penalty.