Flexi Fixed Deposit (FD): Interest Rate, Benefits & Features

Get up to 9.40% p.a. interest, inclusive of additional benefit of 0.50% p.a. for senior citizens and 0.10% p.a. for women Open an FD

Understanding Flexi Fixed Deposits

Flexi FDs allow you to link your savings account to a fixed deposit, automatically transferring surplus funds to the FD to earn higher interest. However, if the savings account falls below the minimum balance required, funds are transferred back from the FD without breaking the investment. This allows you to access funds easily while still earning a higher interest rate than a regular savings account.

Such FDs may be preferred by individuals who want to benefit from the higher rates offered on FDs but don't want to compromise on liquidity.

Banks Offering Flexi Fixed Deposit Plans

Here are some flexi FD plans offered by some of the top banks:

Bank	Scheme Name	Features
RBL Bank	Flexi Sure Fixed Deposit	It links your savings or current account to multiple fixed deposits In case of any shortfall in your bank account, funds are transferred back from the FD
Bank of Baroda	Suvidha Flexible Fixed Deposit Scheme	You can open this account with a minimum investment of ₹5,000 Senior citizens can benefit from higher FD rates of 0.50% p.a.
DBS Bank	DBS Bank Flexi Deposit	You can start investing with a minimum deposit of ₹10,000 Liquidate a part of your deposits and continue to earn interest on the remaining amount
Axis Bank	Auto Fixed Deposit	Once the savings account balance crosses ₹25,000, it transfers funds in multiples of ₹5,000 to the linked FD
Union Bank of India	Savings Flexi Deposit Scheme	Minimum sweep-out to the FD stands at ₹10,000 and in multiples of the same amount Minimum sweep-in amount to the linked savings account is ₹5,000 and in multiples of it
State Bank of India	e-SBI Flexi Deposit	FD interest is compounded quarterly, based on the balance maintained at the end of each month

Note that these aforementioned parameters can change at the discretion of the bank. Check the latest rates on the bank’s website before booking an FD.

Flexi Fixed Deposit Interest Rates

These FDs often provide higher returns compared to savings accounts. Check out the flexi FD account interest rate you can get from certain banks:

Scheme Name	Interest Rates	Tenor	Minimum Investment Amount
RBL Bank Flexi Sure Fixed Deposit	Up to 8.85% p.a.	7 days to 10 years	₹5,000
BOB Suvidha Flexible Fixed Deposit Scheme	Up to 7.65% p.a.	12 months to 60 months	₹5,000
DBS Bank Flexi Deposit	Up to 7.50% p.a.	374 days	₹10,000
Axis Bank Auto Fixed Deposit	Up to 7.75% p.a.	6 months to 5 years	₹5,000
Union Bank of India Savings Flexi Deposit Scheme	Up to 8.15% p.a.	46 days to 1 year	₹10,000
e-SBI Flexi Deposit	Up to 7.50% p.a.	5 years to 7 years	₹5,000

Note: The interest rates provided above may change depending on the bank’s policies.

Features and Benefits of a Flexi FD

Flexi deposits allow you to strike a balance between growth and accessibility. Check out how they blend the stability of fixed deposits with the liquidity of savings accounts seamlessly.

Premature Withdrawal

You can prematurely withdraw funds before the maturity date whenever required, subject to a small penalty fee if applicable

Flexible Tenors

These FDs provide the flexibility to choose a tenor that suits your financial goals, which can range up to 10 years

Competitive Interest Rates

You can enjoy attractive flexi fixed deposit interest rates, with some issuers offering additional rates to senior citizens

Automatic Transfers

Surplus funds in your savings account are automatically transferred to the FD, ensuring you earn higher interest without manual intervention

Customisable Limits

Some savings accounts allow you to set a limit on the minimum balance required, after which excess funds are moved

Difference Between Flexi Fixed Deposits and Regular Fixed Deposits

While both of these investment avenues offer attractive returns, they differ significantly in flexibility and accessibility.

Parameters	Flexi Fixed Deposits	Regular Fixed Deposits
Liquidity	These FDs allow you to partially withdraw funds and add more money	Certain types of FDs have a strict lock-in period before which funds cannot be prematurely withdrawn
Tenor	Generally shorter tenors are offered, varying across banks	Offered at with a range of tenors, from short-term to long-term
Management	Auto-sweep and linked to a bank account for cash flow management	Requires active management for withdrawals; some financial institutions allow auto-renewals

Other FD Related Pages
Fixed Deposit	FD Interest Rates	FD Calculator
Bajaj Finance FD Rates	PNB Housing Finance FD Rates	Mahindra Finance FD Rates
Bajaj Finance FD Calculator	PNB Housing Finance FD Calculator	Mahindra Finance FD Calculator
Corporate FD	FD Receipt	NRI FD
Senior Citizen Fixed Deposit	TDS on FD Interest	Premature Withdrawal of FD
OD against FD	Loan against FD	Short Term FD
Benefits of FD	Nbfc FD Rates	Long Term FD
Types of Fixed Deposit	TDS on FD for Senior Citizens	Floating Rates FD

Disclaimer

The information provided by BFDL is related to the rates provided by Banks and Deposit taking NBFCs as available from public domain and under no circumstances is intended to be source of advice or recommendation of any financial investment advice or endorsement of any sort. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers and use of such information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. Display of any intellectual property along with the related product information does not imply BFDL’s partnership with the owner of the intellectual property of such products and is solely for the purpose of information, unless otherwise provided by BFDL.

How can I withdraw money from my Flexi FD account?

Depending on the bank’s policies, you could transfer funds back to your operative account. Others may require you to inform in advance.

What is the minimum deposit for Flexi FD?

While the minimum deposit to start a flexi FD varies across banks, some allow you to begin investing with ₹5,000.

Is TDS applicable on Flexi FDs?

Yes, you will have to pay Tax Deducted at Source (TDS) if your total annual interest income is over ₹40,000. Senior citizens need to pay TDS only when their interest income exceeds ₹50,000 in a financial year.

What is the difference between Flexi FD and sweep in FD?

While flexi FD and sweep-in FD are similar, they operate differently. A sweep-in FD automatically transfers excess funds from a linked savings or current account to a fixed deposit, providing flexibility in managing surplus funds. Flexi FDs are independent offerings from banks, where you manually deposit funds and have the flexibility to withdraw money anytime.