The North East Small Finance Bank (NESFB) establishes itself as a financial anchor by providing opportunities for growth and stability. Its fixed deposit plan is more than just an investment. It promises a pathway to multiply your money. The NESFB FD Schemes not only guarantee security but also a means of increasing wealth. This comprehensive guide will explore North East Small Finance Bank FD rates, unique features and its types.
North East FD Rate Table
In finance, the North East Bank FD rates are a reflection of its dedication to meeting various financial demands. It offers a variety of possibilities, whether you’re looking to protect your money for a brief period or are making long-term plans.
Here, you can find out about the North East Bank FD interest rates, which will help you choose the right scheme and tenure. Additionally, domestic deposits that are less than Rs. 2 crore only can qualify for these FD rates.
| Tenure | Regular Citizens (% p.a.) | Senior Citizens (% p.a.) |
| 7 – 14 Days | 3.25 | 4.00 |
| 15 – 29 Days | 3.75 | 4.50 |
| 30 – 45 Days | 4.25 | 5.00 |
| 46 – 90 Days | 4.75 | 5.50 |
| 91 – 180 Days | 6.25 | 7.00 |
| 181 – 365 Days | 7.00 | 7.75 |
| 366 – 1095 Days | 7.75 | 8.50 |
| 400 days- Special Scheme | 8.40 | 9.15 |
| 555 days- Special Scheme | 8.50 | 9.25 |
| 1111 Days- Special Scheme | 8.50 | 9.25 |
| 1096 – 1825 Days | 8.00 | 8.75 |
| 1826 – 3650 Days | 6.25 | 7.00 |
Note: The interest rates of NESFB FD are subject to change based on the market conditions.
After the fixed deposit (FD) deposit period ends, you will receive the maturity amount and interest earnings, which are important factors to consider alongside the interest rate.
Make your FD maturity calculation easier by using FD calculator. Online fixed deposit calculators enable you to calculate your maturity amount by modifying the FD deposit period based on the bank’s interest rate.
NESFB Fixed Deposit Scheme
The North East Small Finance Bank FD plans are created to satisfy particular financial objectives. However, it offers a Regular Fixed Deposits scheme that comes with an interest rate between 3% to 8% p.a. for the general public and 4% to 9% p.a. for senior citizens. Here is a glimpse of the North East Bank FD type.
Regular Fixed Deposits
- Minimum amount of investment: Rs. 1,000.
- Repayment tenure: From 7 days to 10 years.
- Auto-renewal and partial withdrawal facility is available.
- Overdraft and loan against FD facilities are also available.
- Liberal payouts can be issued every month or on a quarterly basis.
- Options for reinvestment are available.
- Investors have the option of early withdrawal or premature closure.
- Early withdrawal or closure is subject to a 1% penalty.
Features and Benefits of North East Bank FD’s
The NESFB Fixed Deposits are beneficial in several ways. From short-term goals to long-term dreams, their FD type aligns perfectly with your vision. Below is a list of the advantages and characteristics of the North East FD schemes.
- Attractive interest rate: NESFB offers a higher interest rate than what the market is now offering. As a result, your return on investment will be higher.
- Safety & Security: Your money remains safe and secured in case the bank fails.
- Convenience: You can quickly open fixed deposits if you have a savings account with North East Small Finance Bank, and you can easily liquidate them as needed.
- Flexible payout: Options for interest distribution from North East Small Finance Bank FD include monthly or quarterly payments.
- Loan against FD: Investors can obtain loans using their FDs as collateral with North East Small Finance Bank.
- Nomination facility: Investors in North East Small Finance Bank FDs can choose beneficiaries.
- Tax benefits: You can save taxes up to ₹1.5 lakhs under Section 80C of IT Act, 1961.
- Premature Withdrawal: Premature withdrawal is available but with a 1% penalty.
North East Small Finance Bank Vs Other Banks’ FD Rates
While the FD rates offered by North East Small Finance Bank are attractive, it is wise to research rates provided by other financial institutions to get a well-rounded perspective. Here is a list of major banks, their tenure, and the interest rates provided by them for both the general public and senior citizens.
| Bank | Tenure | General Public (% p.a.) | Senior Citizens (% p.a.) |
| Northeast Small Finance Bank | 365 – 699 days | 8.25 | 8.85 |
| IndusInd Bank | 365 – 699 days | 7.90 | 8.50 |
| ICICI Bank | 365 – 699 days | 7.80 | 8.40 |
| SBI | 365 – 699 days | 6.70 | 7.30 |
| Axis Bank | 365 – 699 days | 7.60 | 8.20 |
| HDFC Bank | 365 – 699 days | 7.50 | 8.10 |
| Kotak Mahindra Bank | 365 – 699 days | 7.80 | 8.40 |
| AU Small Finance Bank | 365 – 699 days | 8.00 | 8.60 |
| Jana Small Finance Bank | 365 – 699 days | 7.75 | 8.35 |
| Ujjivan Small Finance Bank | 365 – 699 days | 7.90 | 8.50 |
| Equitas Small Finance Bank | 365 – 699 days | 7.90 | 8.50 |
| Suryoday Small Finance Bank | 365 – 699 days | 8.60 | 9.20 |
Note: The interest rates and the tenure of the banks are subject to change.
To Conclude
With any financial venture, making thoughtful decisions is essential. Be clear about your objectives, get proper guidance, and allow the North East Small Finance Bank FD rates to serve as a boost for your journey to financial achievement. Secure your hard-earned money, consider your risk appetite, and multiply your money.
Frequently Asked Questions
Q. What is the fixed deposit rate of North East Small Finance Bank?
A. The fixed deposit rate of North East Small Finance Bank ranges from 3.50% to 9.25%, depending on the tenure and the type of depositor (general public or senior citizen).
Q. Is North East Small Finance Bank a government bank?
A. No, North East Small Finance Bank is not a government bank.
Q. Is North East Small Finance Bank under RBI?
A. Yes, North East Small Finance Bank is under the RBI.
Q. What is the minimum balance in Nesfb?
A. The minimum balance requirement for NESFB fixed deposits is ₹1,000.
Q. Is North East Small Finance Bank safe?
A. Yes, North East Small Finance Bank is a safe bank.
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