North East Small Finance Bank FD Rates
The interest rates on fixed deposits offered by North East Small Finance Bank range from 3.25% to 9.50% p.a. This is for tenures that range from one week up to 10 years. There is an additional 0.50% p.a. interest rate for senior citizens.
North East Small Finance Bank FD Interest Rates
The interest rates for callable domestic term deposits up to Rs.5 crore:
Tenure | Rate of Interest for General Public | Rate of Interest for Senior Citizens |
7 days to 14 days | 3.25% p.a. | 3.75% p.a. |
15 days to 29 days | 3.75% p.a. | 4.25% p.a. |
30 days to 45 days (1 month to 1 month 15 days) | 4.25% p.a. | 4.75% p.a. |
46 days to 90 days (1 month 16 days to 3 months) | 4.75% p.a. | 5.25% p.a. |
91 days to 180 days (3 months 1 day to 6 months) | 6.25% p.a. | 6.75% p.a. |
181 days to 365 days (6 months 1 day to 1 year) | 7.00% p.a. | 7.50% p.a. |
366 days to 545 days (1 year 1 day to 1 year 6 months) | 8.75% p.a. | 9.25% p.a. |
546 days to 1111 days (1 year 6 months 1day to 3 years 16 days) | 9.00% p.a. | 9.50% p.a. |
1112 days to 1825 days (3 years 17 days to 4 years 11 months 30 days) | 8.00% p.a. | 8.50% p.a. |
1826 days to 3650 days (5 years to 10 years) | 6.25% p.a. | 6.75% p.a. |
Note: The interest rates mentioned in the table are effective from 01 August 2023.
The Interest Rates for non-callable Domestic Term Deposits from Rs. 1 crore to Rs. 5 Crore:
Tenure | Rate of Interest for General Public | Rate of Interest for Senior Citizens |
7 days to 14 days | 3.50% p.a. | 4.00% p.a. |
15 days to 29 days | 4.00% p.a. | 4.50% p.a. |
30 days to 45 days (1 month to 1 month 15 days) | 4.50% p.a. | 5.00% p.a. |
46 days to 90 days (1 month 16 days to 3 months) | 5.00% p.a. | 5.50% p.a. |
91 days to 180 days (3 months 1 day to 6 months) | 6.50% p.a. | 7.00% p.a. |
181 days to 365 days (6 months 1 day to 1 year) | 7.25% p.a. | 7.75% p.a. |
366 days to 545 days (1 year 1 day to 1 year 6 months) | 9.00% p.a. | 9.50% p.a. |
546 days to 1111 days (1 year 6 months 1day to 3 years 16 days) | 9.25% p.a. | 9.75% p.a. |
1112 days to 1825 days (3 years 17 days to 4 years 11 months 30 days) | 8.25% p.a. | 8.75% p.a. |
1826 days to 3650 days (5 years to 10 years) | 6.50% p.a. | 7.00% p.a. |
Factors that Affect North East Small Finance Bank Fixed Deposit Rates
There are many factors that affect FD interest rates, some of which are given below:
- Deposit Tenure: Interest rates are typically lower for shorter tenures and higher for longer tenures.
- Deposit Amount: Usually, bulk deposits that exceed Rs.2 crore fetch higher interest rates than deposits lower than Rs.2 crore.
- Depositor type: Senior citizens are given 0.50% p.a. additional interest.
Calculating North East Small Finance Bank FD Interest Rates
Before you a fixed deposit or renew an existing one with North East Small Finance Bank, it is helpful to calculate the exact amount that you will get on maturity. This will help you decide the best tenure for your deposit. You can do this easily with the free online FD calculator where all you have to do is enter the data for the deposit amount you wish to invest, the interest rate effective currently, and the tenure you wish to calculate for. The result will be displayed instantly on the page.
Here's an example.
If you decide to invest Rs.1 lakh in your NESF Bank FD account for a tenure of 5 years, the applicable interest rate currently for this tenure is 6.50% p.a. for the general public. Upon maturity, with an annual compounding frequency, those below the age of 60 will earn Rs.40,000 as interest with the maturity amount being Rs.1.4 lakh.
FAQs on North East Small Finance Bank Interest Rates
- What is the frequency of interest payout for fixed deposits of North East Small Finance Bank fixed deposits?
North East Small Finance Bank fixed deposits have interest payout on either a monthly basis or a quarterly basis.
- Is there an option for premature closure for North East Small Finance Bank fixed deposits?
Yes, there is an option for premature withdrawal of fixed deposits from North East Small Finance Bank with a penalty of 1% on the interest.
- Is there an auto-renewal facility available for North East Small Finance Bank fixed deposits?
Yes, the auto-renewal facility is available for fixed deposits of North East Small Finance Bank.
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