AU Small Finance Bank FD Rates 2024

Investing in FD or Fixed Deposits is a great way to secure your money and save substantially. Fixed deposit schemes effectively fulfil your financial goals once they mature after a stipulated time.

The interest accrued through your FD is calculated on the principal amount at the end of the tenure. Besides, the interest remains unchanged irrespective of the market conditions throughout the tenor.

AU Small Finance Bank offers a variety of FD schemes with competitive rates at favourable terms that can help you with your long-term financial goals. Keep reading to know everything about the AU small finance bank FD rates and scheme.

AU Small Finance Bank FD Rates 2024

The following table showcases the AU Small Finance Bank FD rates for 2024:

The following table showcases the AU Small Finance Bank FD non-callable rates for 2024 and the amount range of Rs. 1 crore to Rs. 2 crore:

AU Small Finance Bank FD Rates for Senior Citizens

AU Bank offers its senior citizen customers with a certain benefit in interest rates. The following table showcases the AU Small Finance Bank FD rates for senior citizens:

AU Small Finance Bank FD Rates for NRI

The following table showcases the AU Small Finance Bank FD rates for Non-Resident Indians or NRI, for amounts less than Rs. 2 crore:

Types of AU Small Finance Fixed Deposit Schemes

Before you start your fixed deposit investment journey with AU Bank, it is important to be aware of the different types of FDs available for all. The types of Fixed Deposit schemes that AU Small Finance Bank offers are listed below.

• Regular Fixed Deposits

Investing in regular fixed deposits can be a good idea for investors with a low-risk appetite. It is because AU Bank has high-interest rates and convenient payout flexibility. It has a tenure range from 7 to 120 months with a minimum deposit of Rs. 1,000.

You can also opt for an automatic renewal option and choose to receive interest on a monthly or quarterly basis. Regular fixed deposits would be ideal for limited companies, resident Indians, trust accounts, partnership firms, sole proprietorship firms and HUFs or Hindu Undivided Families.

• 5 Year Tax Savings Fixed Deposits

Customers who would like to participate in a 5-year tax break can enjoy the benefits of tax savings, along with their increased savings. With higher AU small finance bank FD rates and a five-year lock-in period, you can get guaranteed returns after its maturity.

Even though it can be a joint, the tax benefit will be applied to the principal account holder. Under section 80C of the Income Tax Act, you can get up to Rs. 1.5 lakhs from your profits.

Opting for this type of AU Fixed Deposits can be the best option if you are a member of one of the Hindu Undivided Families.

• Sweep-In Facility

The sweep-in facility comes in handy at the time of financial emergencies. It is because it allows you to link your Fixed Deposit account with your savings or current account. Hence, without prematurely breaking your FD, you can sweep in funds whenever you need.

So, if you are a resident of India, you can go for this option, which has an interest rate ranging from 3.75% to 8.24%.

• COVID Shield Deposits

The COVID Shield deposit is an initiative by AU Bank that allows you to meet your financial emergencies during difficult circumstances like the COVID-19 pandemic.

Fixed Deposits created through the COVID shield product will be changed to the comparable normal FD during renewal. All Indian citizens, including senior citizens, can opt for the facility with an annualised interest rate of 7.69%.

• Planet First AU Green Fixed Deposits

Planet First is an innovative initiative by AU Bank, through which the funds you deposit are deployed towards a beneficial and positive impact on the environment. You can enjoy up to 8.50% p.a. interest in your FDs while you contribute to a greener legacy.

You can choose a tenure ranging from 1 year to 10 years, committing to a sustainable future throughout the stipulated period.

Lowest and Highest FD Interest Rate in AU Bank

The lowest and highest AU Small Bank FD rates are given as follows:

• Lowest FD rates: 3.75% p.a. for general citizens and 4.25% p.a. for senior citizens. 
• Highest FD rates: 8.50% p.a. for general citizens and 8.77% p.a. for senior citizens.

AU Small Finance Bank FD Premature Withdrawal

Premature withdrawals are the withdrawal of your invested funds before they reach maturity. Even though you can opt for it, no interest will be paid on premature withdrawals of your deposits.

The minimum period for each type of Fixed Deposit is generally fixed at the time of creating the FD account. Besides, you will be charged 1% of your withdrawal amount as a penalty for premature withdrawal.

Tax on AU Small Finance Bank FD Interest Income

The AU Bank will charge a TDS or Tax Deducted at Source on your earned interest when you redeem your Fixed Deposits after it matures. However, given below are some of the essential points you must remember regarding the taxation on AU Small Finance Bank FD interest income:

• AU Small Finance Bank will charge TDS from your FD interest income if it is more than Rs. 40,000 for general citizens and Rs.50,000 for senior citizens. Apart from these limits, there are no TDS deductions at AU Bank.
• All residents of India shall receive a 10% TDS deduction on their interest income when they have successfully submitted their PAN details while starting their FD account.
• Customers will be charged a 20% TDS deduction on their maturity amount in case they do not submit their PAN details to the bank before their amount matures.
• According to section 80C of the Income Tax Act, you are eligible for a tax deduction of up to Rs.1.5 lakhs on your interest income with Tax saver FD. 

Overall, this article provides you with almost everything you must know about AU small finance bank FD rates before investing in different fixed deposit schemes. Also, make sure to calculate the maturity amount for you beforehand to ensure it aligns well with your financial requirements. Hence, with a long-term goal, start investing on fixed deposits only, ensuring you have sufficient capital to satisfy your regular expenses.

Other Finance Bank FD Interest Rates:
1. Suryoday Small Finance Bank FD Rates
2. Ujjivan Small Finance Bank FD Rates
3. Jana Small Finance Bank FD Rates
4. Utkarsh Small Finance Bank FD Rates
5. Small Finance Bank FD Rates
6. Equitas Small Finance Bank FD Rates
Other Banks FD Interest Rates:
1. Kotak Mahindra Bank FD Interest Rates
2. Indian Bank FD Interest Rates
3. Canara Bank FD Interest Rates
4. HDFC Bank FD Interest Rates
5. ICICI Bank FD Interest Rates
6. Axis Bank FD Interest Rates
7. SBI FD Interest Rates