ESAF Small Finance Bank fixed deposit interest rates were last updated on 18 June 2025. These FD rates are still the same in February 2026, with no changes made by the bank. The rates apply to resident customers, senior citizens, and NRI depositors. Final interest depends on your FD type and how much money you deposit.
As of 2026, ESAF Small Finance Bank is offering up to 7.60% interest per year for general citizens. Senior citizens can get a higher rate of 8.10% per year. These rates are available on a 444-day special FD scheme.
ESAF Small Finance Bank FD can be opened for as short as 7 days and up to 10 years. These FD rates are valid only if your deposit amount is below ₹3 crore.
Quick Look: ESAF FD Rates in 2026
- General citizens: 2.75% to 7.60% (For All – Resident, NRO, NRE)
- Senior citizens: 3.25% to 8.10%
- Highest FD rate: 444 days
- Hrudaya Deposit: Senior citizens get 8.88% p.a. interest for an 888-day FD.
In simple words, mid-term FDs give better value. And senior citizens clearly earn more interest compared to normal customers.
Senior Citizen Benefit – Extra 0.50% Across All Tenures
ESAF Small Finance Bank gives an extra 0.50% interest to senior citizens aged 60 years and above on fixed deposits.
This benefit:
- Is automatic
- Requires only valid age proof
- Applies across short-term and long-term FDs
For many retired customers in Tier-2 and Tier-3 cities, this extra 0.50% becomes a meaningful monthly income difference.
Tax Relief for Senior Citizens
- Senior citizens can get the Section 80C benefit through a 5-year Tax Saver FD.
- Interest income deduction is allowed up to ₹50,000 under the income tax rules.
- Eligible seniors can submit Form 15H to avoid TDS deduction.
Real Talk (Ground Reality)
In many Tier-3 towns, senior citizens don’t file income tax returns every year. If Form 15H is submitted on time, unnecessary TDS cuts can be avoided. This also saves extra bank visits and follow-ups later.
Types of FD ESAF Bank provide in 2026 (Latest Schemes)
In 2026, ESAF Small Finance Bank offers different types of FD schemes. These FDs are available for resident Indians, NRIs, and people looking for tax-saving options. There are also FD schemes for those who want their money to create a social impact.
At present, ESAF offers almost 6 different FD options, depending on customer needs.
As per the CNBCTV18 press release, the Q3 FY26 provisional data says, ESAF’s total deposits grew by 7.10% year-on-year and reached ₹24,006 crore as of 31 December 2025.
1. Regular Fixed Deposit – Resident Term Deposits (Below ₹3 Crore)
This is the FD that most local people actually use. Teachers, shop owners, retired PSU staff, small business families, and salaried people in district towns mostly go for this option.
At ESAF branches, this is the most commonly opened FD across districts and semi-urban towns.
Key Features
- You can choose the reinvestment option if you want the full amount at maturity
- Option to take a monthly or quarterly interest payout
- Nomination facility available for family safety
- FD can be opened in joint names also
- You can take a loan or overdraft against your FD if needed
- Auto-renewal option is there, so FD continues automatically
- You are allowed to open multiple FDs at the same time
- Premature closure is allowed (some penalty may apply)
- FD statement is given whenever you ask for it
- TDS certificate is provided for tax purpose
Minimum Requirements
- Minimum deposit: ₹1,000
- Multiples: ₹1,000
- Tenure: 7 days to 10 years
ESAF Regular FD Interest Rates 2026 (Resident Deposits)
This chart is effective from 18 June 2025.
| Period | General Rate | Senior Citizen Rate |
|---|---|---|
| 7 – 14 days | 2.75% | 3.25% |
| 15 – 59 days | 3.25% | 3.75% |
| 60 – 90 days | 3.75% | 4.25% |
| 91 – 182 days | 4.00% | 4.50% |
| 183 days – 1 year | 4.75% | 5.25% |
| 1 year 1 day – 443 days | 7.25% | 7.75% |
| 444 days | 7.60% (The highest) | 8.10% (The highest for seniors) |
| 445 days – < 2 years | 7.25% | 7.75% |
| 2 – < 3 years | 7.25% | 7.75% |
| 3 – < 5 years | 6.00% | 6.50% |
| 5 – 10 years | 5.75% | 6.25% |
Easemoney Insight – Unlike big banks, where you get the highest interest only if you lock money for 3–5 years, ESAF does things differently. Here, the 444-day FD gives one of the best rates, which is perfect for people who don’t want to block money for too long.
Premature Withdrawal Rules (Resident FD)
- No interest if FD is closed before 7 days
- After completion of the minimum period, 1% penalty on the applicable interest rate
Real Tip: Instead of one large FD, book 2–3 smaller FDs. ESAF allows this easily, and it gives flexibility during emergencies.
Interest Payout Options
- Cumulative FD: Interest keeps adding every year, and you get the full amount at maturity. This is mostly used for grandchildren’s education, marriage, or long-term plans.
- Non-Cumulative FD: Interest is paid monthly or quarterly. Many senior citizens use this to support their pension or monthly expenses.
2. Hrudaya Deposit – FD With a Social Purpose
Hrudaya Deposit is ESAF’s special FD scheme for people who want their money to do some good, along with earning interest. The idea is here: your deposit helps ESAF provide banking and loan services to people who are unbanked or under-banked.
What’s the Purpose: The main purpose of Hrudaya Deposit is to support financial inclusion. This means helping people who don’t have easy access to banks, savings, or credit.
Interest Rate Details (As Per ESAF’s Insta Post)
- As shared by ESAF Small Finance Bank on its Instagram, Hrudaya Deposit also offers higher interest rates, especially for senior citizens.
- As of February 2025, senior citizens were offered a special 8.88% p.a. interest on an 888-day tenure under this scheme.
- For general customers, interest rates usually range between 4% to 8%, while senior citizens can earn up to 9% under select tenures.
Highlights
- You can choose the borrower group and the area where your money will be used
- Option to select the purpose of lending
- ESAF shares performance and impact reports, so you know where money is going
- Relationship banking support is available for guidance
Basic Structure
- Minimum deposit: ₹1 lakh
- Tenure: 1 year or more
- Premature withdrawal: Allowed
- Who can invest: Resident Indians and NRIs
- Investment mode: Can be opened online
This FD is slowly becoming popular among socially conscious families and retired professionals who want both returns and purpose.
3. Tax Saver Fixed Deposit – 5 Year Lock-in
ESAF’s Tax Saver FD allows investors to claim tax benefits under Section 80C. This option is mainly for people who want to reduce their income tax liability while keeping money safe.
Key Points
- 5-year lock-in is compulsory
- Eligible for Section 80C tax deduction
- Interest rate is fixed, no ups and downs (check the regular chart for interest above)
- Premature withdrawal not allowed
Tax Reality
- Your investment qualifies for tax savings
- Interest earned is taxable; keep this in mind
- TDS will be applied as per the income tax rules
Who Is This FD For? – This FD is best for conservative investors who want guaranteed returns and don’t want to take market risk.
4. FCNR (B) Deposit – USD Fixed Deposit for NRIs
ESAF also offers FCNR (B) fixed deposits in USD for NRI customers. This FD lets NRIs keep money in foreign currency, so they don’t have to worry about rupee fluctuation.
Key Features (Straight Points)
- The deposit is kept in USD, not in rupees
- Both principal and interest are fully repatriable
- No tax in India on the interest earned
- FD tenure ranges from 1 year to 5 years
- Auto-renewal option available if you want to continue
FCNR (B) Interest Rates Chart – USD
| Period | Interest Rate |
|---|---|
| 365 days | 5.00% |
| 366 days | 5.90% |
| 367 – 729 days | 5.00% |
| 730 – 1094 days | 4.50% |
| 1095 – 1460 days | 4.00% |
| 1461 – 1826 days | 4.00% |
Extra 0.10% interest for deposits above USD 500,000. Effective from 18 November 2025
5. NRE Term Deposit – Tax-Free FD for NRIs
Designed for NRIs investing foreign earnings in India.
Highlights
- Interest is tax-free in India
- Minimum tenure: 1 year
- Same rates as resident FDs
- Fully repatriable
Interest Rates (Below ₹300 lakh)
| FD Period | Interest Rate (% p.a.) |
|---|---|
| 183 days to 1 year | 4.75% |
| 1 year 1 day to 443 days | 7.25% |
| 444 days | 7.60% |
| 445 days to below 2 years | 7.25% |
| 2 years to below 3 years | 7.25% |
| 3 years to below 5 years | 6.00% |
| 5 years to 10 years | 5.75% |
Highest return: 7.60% on 444-day tenure
6. NRO Term Deposit
NRO Term Deposit offered by ESAF is meant for income earned in India. It is ideal for money like rent, dividends, or pension income.
Key Points
- Tenure starts from 7 days
- Interest taxable in India
- Senior citizen rates same as the general population
- TDS applicable
NRO FD rates mirror resident FD rates (up to 7.60%).
Short-Term NRO FDs (Up to 6 months)
| FD Duration | Interest Rate |
|---|---|
| 7 to 14 days | 2.75% |
| 15 to 59 days | 3.25% |
| 60 to 90 days | 3.75% |
| 91 to 182 days | 4.00% |
Medium-Term NRO FDs (6 months to 2 years)
| FD Duration | Interest Rate |
|---|---|
| 183 days to 1 year | 4.75% |
| 1 year 1 day to 443 days | 7.25% |
| 444 days | 7.60% |
| 445 days to below 2 years | 7.25% |
Long-Term NRO FDs (Above 2 years)
| FD Duration | Interest Rate |
|---|---|
| 2 years to below 3 years | 7.25% |
| 3 years to below 5 years | 6.00% |
| 5 years to 10 years | 5.75% |
Documents Required for Senior Citizen FD
You need any one valid age proof:
- PAN Card
- Passport
- Voter ID
- Birth Certificate
- Pension Payment Order (PPO)
- 10th Class Certificate
- LIC Policy
- Govt / PSU / Defence ID
- Senior Citizen ID (Railways / Airlines)
TDS Rules – Simple Explanation
- TDS is deducted whenever interest is paid or reinvested
- It is also deducted on accrued interest at year-end
- Form 16A is issued every quarter
- Form 15H / 15G must be submitted every financial year
- If total FD interest crosses ₹10,000, TDS will apply
Tip: Submitting Form 15H on time avoids unnecessary TDS cuts.
How to Apply for ESAF Fixed Deposit (Online & Branch)
Online FD Application
👉 https://www.esaf.bank.in/fixed-deposit-apply-online/
Steps:
- Firstly, visit ESAF website
- Go to Menu → Products
- Select Deposits
- Choose Fixed Deposit
- Select FD type
- Click Apply Now
- Enter mobile number, email, and name
- Choose city, district, and branch
- Basic KYC required.
- You can do it via PAN, Aadhaar and Basic details.
For Existing ESAF Customers
- Log in to Internet Banking or Mobile App
- Go to the FD section
- Book FD instantly, no KYC required.
Why ESAF Small Finance Bank Gives Higher FD Interest
ESAF needs deposits more than big banks, so it pays higher interest.
Quick FD Rate Comparison (Jan 2026)
| Bank Type | Bank Name | Highest FD Rate | Best Tenure |
|---|---|---|---|
| Small Finance Bank | ESAF Small Finance Bank | 7.60% | 444 days |
| PSU Bank | State Bank of India (SBI) | 6.40% | Varies |
| Private Bank | HDFC Bank | ~7.00% | Varies |
Clear takeaway: ESAF pays more interest for shorter lock-in.
Why ESAF Pays More (Simple Points)
- Needs deposits: ESAF is smaller than PSU and big private banks, so higher rates help attract customers.
- Lends to local people: ESAF gives loans to small businesses, farmers, and micro-entrepreneurs. These loans earn higher interest, so ESAF can share more with FD holders.
- Competition factor: Big banks already have trust and large customer bases. Small banks compete by offering better FD rates.
ESAF offers higher FD rates not because it’s risky, but because its business model depends on retail deposits. Still, if you invest above ₹5 lakh, always check basics like NPA levels and capital strength.
Frequently Asked Questions
What is the FD interest rate in ESAF Bank in 2026?
As of January 2026, ESAF Bank offers FD interest from 2.75% to 7.60% for general citizens and up to 8.10% for senior citizens on a 444-day tenure.
What is the 444-day FD scheme in ESAF Bank?
The 444-day FD is ESAF’s highest-return tenure, offering 7.60% for general citizens and 8.10% for seniors, balancing strong returns with a relatively short lock-in.
What are the main benefits of ESAF Fixed Deposits?
ESAF FDs offer high mid-term returns, senior citizen bonus rates, flexible payout options, loan against FD, auto-renewal, and easy access through branches and online banking.
Is ESAF Small Finance Bank FD safe for investment?
Yes, ESAF FDs are covered under DICGC insurance up to ₹5 lakh per depositor per bank and follow RBI regulations, making them a relatively safe fixed-income option.
Do senior citizens get extra benefits on ESAF FDs?
Senior citizens receive an additional 0.50% interest across FD tenures, flexible payout options, tax benefits, and dedicated in-branch services designed for retirement income needs.
Can I withdraw ESAF FD before maturity?
Premature withdrawal is allowed after the minimum period, but a 1% penalty applies on the applicable interest rate; no interest is paid if closed within 7 days.
How is TDS deducted on ESAF Fixed Deposits?
TDS is deducted whenever interest is paid or reinvested and also on accrued interest at financial year-end; Form 16A is issued quarterly for tax filing.
Which ESAF FD tenure is best in 2026?
In 2026, the 444-day FD offers the best risk-return balance, especially for senior citizens, delivering higher returns without locking funds for long multi-year periods.
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