Earn interest up to 8.10% p.a. by investing in a Bajaj Finance Fixed Deposit | Rated CRISIL AAA/ STABLE and [ICRA]AAA(stable)

** Disclaimer:  AU Small Finance Bank has not partnered with Bajaj Markets. The information is intended for educational purposes only. You are advised to contact the Banks/NBFCs for additional details.

 

If you are looking to get guaranteed returns on your investment, irrespective of market upheavals and downswings, then a Fixed Deposit, or an FD, is the right financial instrument for you. AU Small Finance Bank offers various types of fixed deposit accounts at attractive interest rates and flexible tenors. Along with the regular AU Bank fixed deposit, the bank also offers a 5-Year tax saving FD

 

The AU Bank FD rates vary from 3.7% per annum to 7.50% per annum, depending on the investment tenor chosen that ranges from 7 days to 10 years. Furthermore, the AU Small Finance Bank FD rates for senior citizens are 0.50% higher than those for non-senior citizens. 

 

Check out the AU Bank FD rates provided in the table below for a better understanding of how the interest rates vary as per the investment tenor. Using the AU Bank FD calculator you can easily visualise the absolute returns on your principal amount, based on these interest rates. 

Investment Tenor

AU Bank FD rates for Non-Senior Citizens

AU Bank FD rates for Senior Citizens

7 Days to 1 Month 15 Days 

3.75%

4.25%

1 Month 16 Days to 3 Months 

4.25%

4.75%

3 Months 1 Day to 6 Months 

5.00%

5.50%

6 Months 1 Day to 12 Months 

5.85%

6.35%

12 Months 1 Day to 15 Months 

7.10%

7.60%

15 Months 1 Day to 18 Months 

6.95%

7.45%

18 Months 1 Day to 24 Months 

6.95%

7.45%

24 Months 1 Day to 36 Months 

7.50%

8.00%

36 Months 1 Day to 45 Months 

7.50%

8.00%

45 Months 1 Day to less than 60 Months 

6.95%

7.45%

60 Months to 120 Months 

6.95%

7.45%

Note: The above interest rates are as of 10 October, 2022 and are applicable for retail domestic fixed deposits under ₹2 Crores. They are subject to change from time to time depending on the bank’s policies. Applicable interest rates will be given as on the date/time of receipt of the funds by the bank.

AU Small Finance Bank Fixed Deposit Calculator

As you can see from the table above, different investment terms will lead to varying AU Bank fixed deposit rates, thereby resulting in a different final maturity amount. In order to properly manage your finances, you should know exactly what that amount will be including the principal and the interest. The AU Bank FD Calculator will help you in this regard. Moreover, it will also help you compare between various FDs from various other banks and NBFCs so that you invest in the one with the best terms, features, and interest rates.

Features and Benefits of AU Bank Fixed Deposit

AU Bank FDs come with several features and benefits. Listed here are some of the key ones for you to consider.

  • Attractive AU Bank FD rates

It is evident that AU Small Finance Bank interest rates are some of the most attractive ones in the market. As a non-senior citizen you can get returns at up to 7.50%, while senior citizens can get a maximum of 8% per annum on their investment. The AU Bank FD Calculator can help you understand the actual returns for different interest rates.

  • Guaranteed and Safe Returns

Since the AU Bank FD is not a market-linked instrument, it is able to provide guaranteed returns regardless of the market conditions. The returns you get are dependent on the amount invested, tenor chosen and the AU Bank FD rate applicable on it. Furthermore, all AU Bank FD plans are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC).

  • Flexible Options for Investment Amount and Tenor 

AU Bank allows FDs to be opened with a wide range of investment terms ranging from 7 days to 10 years. You can start an FD with as low as ₹1,000. 

  • Tax Saving

Another useful feature offered by the bank is the 5-Year Tax Saving Fixed Deposit. Through this you can save up to ₹1.5 Lakhs per annum under the Section 80C of the Income Tax Act of India. Moreover, you also build your wealth at the AU Small Finance Bank FD rate of 6.95%. Senior citizens will get 0.5% extra making the applicable rate 7.45%.

  • Other Features and Benefits

Apart from the above, AU Bank also provides:

 

  • nomination facility for claiming your principal and interest in case of your demise, 

  • sweep-in facility to link your Fixed Deposit to your AU Bank Savings or Current Account and use funds whenever needed,

  • overdraft facility on your FD that acts as a loan that can be repaid later,

  • ability to make a premature withdrawal, in case of emergency, by paying marginal charges, and

  • choose your payout frequency like monthly, quarterly, or annually.

AU Bank FD Interest Rates for Senior Citizens and Others for up to 5 Years

The FD rates in AU Bank vary based on the selected tenor of investment. The table provided below shows the different amounts earned as interest and corresponding maturity value based on the varying tenors and applicable interest rates. As mentioned earlier, the bank offers an additional 0.5% for senior citizens for the same tenor. The investment amount for this calculation is taken as ₹1 Lakh and the compounding frequency is annual.

Tenor

Non-Senior Citizen

Senior Citizen

Interest Rate

Interest Earned

Maturity Amount

Interest Rate

Interest Earned

Maturity Amount

1 year

7.10%

₹ 7,100 

₹ 1,07,100

7.60%

₹ 7,600

₹ 1,07,600

2 years

6.95%

₹ 14,383

₹ 1,14,383

7.45%

₹ 15,455

₹ 1,15,455

3 years

7.50%

₹ 24,230 

₹ 1,24,230

8.00%

₹ 25,971

₹ 1,25,971

4 years

6.95%

₹ 30,835

₹ 1,30,835

7.45%

₹ 33,299

₹ 1,33,299

5 years

6.95%

₹ 39,928

₹ 1,39,928

7.45%

₹ 43,229

₹ 1,43,229

Note: The above calculations are made using interest rates as of 10 October, 2022 and are applicable for retail domestic fixed deposits under ₹ 2 Crores. They are subject to change from time to time depending on the bank’s policies. Applicable interest rates will be given as on the date/time of receipt of the funds by the bank.

Eligibility Criteria and Document Required for Opening an FD with AU Bank

Clearly, there are several advantages of investing in an AU Bank fixed deposit. To be able to do so, you need to meet the eligibility criteria for opening an FD in the bank and submit the requisite documents for the specific FD type that you wish to invest in. Here is more information on both these aspects.

Eligibility Criteria

Owning a PAN card is a mandatory requirement of the bank. The following people/entities are eligible to apply for an AU Bank FD:

 

  • Indian Resident

  • Non-Indian Resident

  • Hindu Undivided Family

  • Partnership firms

  • Trust accounts

  • Sole proprietorship firms

  • Limited companies

Documents Required

To be able to successfully complete the KYC process, the bank requires the following documents:

 

  • PAN card

  • Photo ID proof such as an Aadhaar card, passport, etc.

  • Address proof such as ration card, utility bills, passport, etc.

  • Age proof such as birth certificate, matriculation certificate, etc.

  • Passport-size photograph

For firms, trusts and limited companies, additional documents may be required which include (but not limited to) partnership deed, certificate of incorporation, tax filing, copy of resolution, etc.

How to Open FD in AU Bank

While you can always choose to book an AU Bank fixed deposit by physically visiting the nearest AU Bank branch and filling out the necessary forms, you also have the option of booking, managing, and renewing your FD online. This is extremely convenient and can be done through the bank’s website or mobile app, anywhere and anytime. 

 1. Online

If you are an existing Savings bank account holder of AU Bank, you can easily open a Fixed Deposit account (FD) using Video Banking or NetBanking/AU 0101 App. If you are not, then you can open an account online through the bank’s website. Follow the steps given below to open an AU FD online.

 

  • Step 1: Visit the Google PlayStore and download the AU 0101 app.

  • Step 2: Install the App in your mobile phone.

  • Step 3: Enter your personal details like mobile number, name, account number, etc.

  • Step 4: Verify your bank registered mobile number using the OTP provided.

  • Step 5: Once the app is verified, you can go to the ‘Deposits’ section.

  • Step 6: Choose ‘Term Deposits’.

  • Step 7: Select the tenor and FD amount.

  • Step 8: Click on ‘OK’ and transfer the amount from the Savings account to the new FD account in a few minutes.

2. Offline

However, if you prefer to book an AU Bank fixed deposit by physically visiting your nearest AU Bank branch, you can follow these steps:

 

  • Step 1: Visit an AU bank branch closest to you. 

  • Step 2: Request for a form to open an FD. 

  • Step 3: Read and fill the form carefully and affix your signature in the relevant areas. 

  • Step 4: Submit the form along with all the relevant supporting documents to the bank officials. 

  • Step 5: Make the payment. 

How is the AU Bank FD Maturity Amount Calculated?

The AU Bank maturity amount is calculated using the formula: P (1 + r/n)nt

where,

 

  • P is the amount invested, 

  • r is the rate of interest, 

  • n is the frequency of compounding, and 

  • t is the investment tenor.

While you can use this formula to manually calculate the FD amount, it can be prone to human errors and be quite time consuming, especially if you are comparing different types of FDs and interest rates. The more convenient and fool-proof way of doing this is by using the AU Bank FD calculator. Using this free online tool, you can immediately determine the returns you are likely to receive across the different FD types, amounts, and tenors. 

 

The AU Bank FD calculator can be used by following this simple steps:

 

  • Step 1: Visit the online link for the AU Bank FD calculator.

  • Step 2: Enter the principal investment amount for opening the FD. The minimum amount permitted by AU Bank is ₹1,000.

  • Step 3: Enter the investment tenor. An AU Bank FD can be booked for a tenor ranging from 7 days to 10 years.

  • Step 4: Choose the frequency of payout of the returns. AU Bank allows returns to be deposited to your account in a monthly, quarterly, or annually frequency. People usually choose this option to meet the periodic household expenses instead of dipping into their savings. You can also choose to get the entire amount upon maturity.

  • Step 5: Enter the applicable AU Bank FD rates as per the tenor chosen. Remember, if you are a senior citizen then you will receive an additional 0.50% interest. This is the final variable that needs to be entered in the AU Bank FD calculator.

  • Step 6: Just click on the calculate button and the tool will instantly show you your maturity amount with the returns on your investment.

By now you must be well aware of the AU Bank FD rates, features and benefits of AU Bank FD plans, and how to use the AU Bank FD calculator to help you visualise your return on investment. Using the information provided here, you can make an informed decision about the amount to invest and the tenor to invest it for, in order to meet your needs in the best way. 

FAQ's

  • ✔️Can we extend the AU Bank FD?

    It is easy to extend the investment tenor of AU Bank FD. Automatic renewal facility for equal period is available for AU Bank FDs. Else, you can extend your FD online as well as by submitting a physical application that specifies the duration. 

  • ✔️Can I get a loan against my AU Bank FD?

    AU Bank offers a loan against FD via an overdraft facility. Using this you can use a percentage of your FD amount to meet your immediate requirements and repay the amount over the course of a predetermined period in EMIs. The percentage of overdraft and repayment tenor are finalised on a case to case basis after discussion with the bank’s representative.

  • ✔️What are the common types of forms for an AU Bank FD Account?

    When you open an AU Bank FD, you simply need to submit your details in the account opening form and submit the relevant documents. If you would like to avoid getting TDS deducted then you need to submit form 15G (for non-senior citizens) and 15H (for senior citizens).

  • ✔️What is the AU Bank Tax Saving Fixed Deposit?

    The 5-year Tax Saving Fixed Deposit offered by AU Bank offers tax benefits of ₹ 1.5 Lakhs under the section 80C of the Income Tax Act. It is important to note that this FD comes with a 5 years lock-in without the option of a premature withdrawal.

  • ✔️Is TDS deducted on AU Bank FD?

    The interest earned on an FD is considered as income from another source and is deemed taxable. The bank is mandated to deduct 10% TDS on it. However, if your income does not fall in the taxable bracket, then you can avoid TDS deduction by submitting form 15 G to the bank. In case of senior citizens, form 15 H will need to be submitted. You can use the AU Bank FD calculator to understand your annual returns and calculate the tax liability accordingly.

  • ✔️Is there any nomination facility under the AU Bank FD account?

    Yes, you can add a nominee to your AU Bank FD. This can be done online or by submitting a physical form to the branch office.

  • ✔️Is there any credit card facility under the AU Bank FD plan?

    Since having an FD makes you an existing customer, you can request for an AU Bank credit card by simply furnishing your identity proof. You will be required to visit a branch for this

  • ✔️What is the highest interest rate on fixed deposits offered by AU Bank?

    AU Bank FD rates are quite attractive as compared to competitors. Non-senior citizens can get a maximum rate of 7.5% while senior citizens can get a maximum of 8%. The rate is applicable for FD tenors from 24 months and 1 day to 45 months. Use the AU Bank FD calculator to understand the absolute returns for your invested amount.

  • ✔️What is the minimum amount to start a fixed deposit with AU Bank?

    You can start an AU Bank fixed deposit with a minimum principal amount of ₹ 1000.

  • ✔️Is AU Bank FD safe?

    AU Small Finance Bank is a reputed scheduled commercial bank. Not only are the bank’s FD plans free from market volatility, they are also insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC), for added safety.

  • ✔️Can a customer open an FD account online with AU Bank?

    Opening an online FD with AU Bank is very convenient and quite easy to do. This can either be done through your netbanking account (for existing customers), through the bank’s mobile app AU 0101 App, or even via video banking facility offered by the bank. The steps for opening an online FD are provided in an earlier section of this article.