The Fincare Small Finance Bank is the result of the combination of two NBFC Micro Finance Institutions, namely, Financial Services Private Limited and Disha Microfin Private Limited. In May 2017, Disha Microfin Private Limited got the financial license to launch a Banking operation from the RBI under section 22 of the Banking Regulation Act 1949.
Therefore, on 21st July 2017, the Fincare Bank started to operate. Its vision is to enable the financial inclusion of unbanked and underbanked base of the pyramid, mass retail, micro and small enterprise segments with the active participation of the affluent.
During the first quarter of Fiscal Year 2020, the Fincare Bank was included in the Second Schedule of Reserve Bank of India Act 1934. As a result, it is now a Scheduled Commercial Bank that reflects the highest degree of trust in India.
Managing Director and Chief Executive Officer
Currently, Rajeev Yadav is the Managing Director and Chief Executive officer of Fincare Bank.
Fincare Small Finance Bank FD Rates
Fincare bank offers two types of Fixed deposits.
- Smart fixed deposit
- NRE Fixed deposit.
Fincare Small Finance FD Fixed Deposit Interest Rates
The interest rates for Smart Fixed Deposits below Rs.2 crore with premature withdrawal facility are as follows:
| Duration | The interest rate for the general public (p.a.) | The interest rate for senior citizens (p.a.) |
|---|---|---|
| 7 days to 45 days | 3.00% | 3.50% |
| 46 days to 90 days | 3.25% | 3.70% |
| 91 days to 180 days | 3.50% | 4.00% |
| 181 days to 364 days | 5.00% | 5.50% |
| 12 months to 15 months | 6.00% | 6.50% |
| 15 months 1 day to 18 months | 6.00% | 6.50% |
| 18 months 1 day to 21 months | 6.25% | 6.75% |
| 21 months 1 day to 24 months | 6.25% | 6.75% |
| 24 months 1 day to 30 months | 6.50% | 7.00% |
| 30 months 1 day to 36 months | 6.50% | 7.00% |
| 3 years 1 day to 42 months | 6.75% | 7.25% |
| 42 months 1 day to 4 years | 6.50% | 7.00% |
| 4 years 1 day to 59 months | 6.50% | 7.00% |
| 59 months 1 day to 66 months | 6.00% | 6.50% |
| 66 months 1 day to 7 years | 5.50% | 6.00% |
The interest rates for Smart Fixed Deposits below Rs.2 crore without premature withdrawal facility are as follows:
| Tenure | The interest rate for the general public (p.a.) |
|---|---|
| 181 days to 270 days | 5.10% |
| 271 days to 330 days | 5.10% |
| 331 days to 360 days | 6.20% |
| 361 days to 13 months | 6.20% |
| 13 months 1 day to 15 months | 6.50% |
| 15 months 1 day to 18 months | 6.50% |
| 18 months 1 day to 21 months | 6.35% |
| 21 months 1 day to 24 months | 6.35% |
| 24 months 1 day to 30 months | 6.35% |
| 30 months 1 day to 36 months | 6.35% |
Note: The interest rates are subject to revision and are effective from 1 April 2021.
Fincare Small Finance Bank NRO/NRE Fixed Deposit Rates
| Tenure | NRO (p.a.) | NRE (p.a.) |
|---|---|---|
| 7 days to 45 days | 3.00% | NA |
| 46 days to 90 days | 3.25% | NA |
| 91 days to 180 days | 3.50% | NA |
| 181 days to 364 days | 5.00% | NA |
| 12 months to 15 months | 6.00% | 6.00% |
| 15 months 1 day to 18 months | 6.00% | 6.00% |
| 18 months 1 day to 21 months | 6.25% | 6.25% |
| 21 months 1 day to 24 months | 6.25% | 6.25% |
| 24 months 1 day to 30 months | 6.50% | 6.50% |
| 30 months 1 day to 36 months | 6.50% | 6.50% |
| 3 years 1 day to 42 months | 6.75% | 6.75% |
| 42 months 1 day to 4 years | 6.50% | 6.50% |
| 4 years 1 day to 59 months | 6.50% | 6.50% |
| 59 months 1 day to 60 months | 6.00% | 6.00% |
How to apply for Fincare small finance bank Fixed Deposit
- Go to the Fincare Bank Login page.
- Enter your User Id and Password and click on Apply Now button under the Fixed Deposit Web page.
- Fill the Fixed Deposit enquiry form with the details as required.
- Once you are done, the bank will contact you via mail or phone.
Eligibility for FD in Fincare Bank
Existing customers, as well as new customers, can open FD account. It gives you the freedom to open an FD account as a single holder or joint holder.
KYC Documents For Fincare Bank
To open a Fixed Deposit account in Fincare Small Finance Bank, you need to complete your KYC. For KYC, you require identity proofs such as Aadhar or PAN Card.
Fincare Net Banking
The Fincare Small Finance Bank provides a secure online banking interface for its customers. Customers can avail various facilities through the Fincare official website and the Fincare Mobile app. This allows the customers to access Fincare Net Banking.
To register for Fincare Internet Banking, customers have to register themselves. Customers will get their User ID and Password through SMS or mail, from which they can access the Fincare Small Finance Net Banking.
Fincare net banking registration
Follow these simple steps to register for Fincare online banking.
- Go to the official Fincare Website and hover on Net Banking Option.
- Click on Personal/Corporate Option.
- Then click on the “First Time User? Register” option.
- Accept the terms and conditions by selecting “Yes” and then click on the “Submit” button.
- There will be six options, select any three options to verify your account.
- Enter the required details such as Customer ID, Date of Birth, PAN Card and Click the “Submit” button.
- Select your user ID for yourself for Fincare Net Banking and click on check availability to check if user Id is available.
- It gets green once the user Id is available. Enter your password twice and click on the “Submit Button”.
Fincare Net Banking Login
- Go to the official Fincare internet banking website.
- Hover on Net Banking and select Personal Banking.
- Enter your User ID
- Click on the Continue button.
- Enter your Fincare internet banking password.
- Click on the Login button.
Fincare Small Finance Bank Raise ₹1330 Crore Via IPO
The Bengaluru based Micro Finance Company, Fincare Small Finance Bank has filed a Draft Red Herring Prospect (DRHP) form to the capital market regulator Securities and Exchange Board of India (SEBI) to raise funds through initial public offerings.
Digital lender Fincare Small Finance Bank has got the capital market regulator SEBI to approve raising ₹1330 crore through IPOs.
This initial public offering (IPO) comprises of Fresh equity share worth ₹330 crores (this money is spent on the company’s development) and the rest ₹1000 crores offered for sale to the promotors of the company.
Yes, the Fincare Bank is approved by RBI. It has got the license from RBI in May 2017 under Banking Regulation Act, 1949.
Customers need to maintain an Average Monthly Balance of just ₹ 1,000/-
50 transactions per month are free (IMPS, NEFT, RTGS).
You can contact the Fincare bank on toll-free number 180030100111.
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