ESAF Small Finance Bank RD Interest Rates

What is the ESAF Small Finance Bank Recurring Deposit?

ESAF Small Finance Bank RD is a scheme where the account holder earns interest from fixed monthly instalments over a chosen tenure. The minimum amount of monthly instalments is ₹100, and subsequent deposits can be made in multiples of ₹100. The maximum instalment amount is capped at ₹14,99,900.

In a recurring deposit, each instalment starts earning interest from the date of payment till maturity. If every deposit is made on time, interest is calculated on the total balance and compounded periodically as per the bank’s rule. While late payments are subject to a penalty. If you have any confusion about your deposit return, you can use the RD calculator to estimate accurate returns.

ESAF Small Finance Bank RD Interest Rates

The following table provides the updated ESAF Small Finance Bank RD rates for deposits below ₹3 crores, applicable across various tenures.

*ESAF Small Finance Bank RD Interest Rates w.e.f. March 1, 2026

Note: For ESAF Small Finance Bank recurring deposits of ₹300 lakhs and above, customers can contact bank branches for interest rate details.

Key Features of ESAF Small Finance Bank RD

ESAF Small Finance Bank Recurring Deposit has several features that will help in saving regularly every month. Key features include:

• Standing Instruction Facility: ESAF Small Finance Bank’s standing instruction facility allows you to pay the monthly payment automatically out of the linked account, which helps to pay on time.
• Additional Interest for Senior Citizens: Senior citizens get an additional 0.50% interest rate compared to general citizens.
• Premature Withdrawal Facility: ESAF Small Finance Bank RD premature withdrawal facility will enable the customers to access their recurring deposit before it reaches maturity. In such instances, a penal interest of 1% is charged. For any deposit withdrawn before 7 days, no interest is paid.
• Nomination Facility: Account holders can appoint a nominee who can claim the interest and earnings of the deposit.
• Tax Deducted at Source (TDS) Certificate: If a TDS certificate is requested, it will be given for any record-keeping or tax purposes.

How to Open an ESAF Small Finance Bank RD

The process of opening an RD with ESAF Small Finance Bank is very easy and can be completed online or offline.

Online Method

You can access an RD at any convenient time through internet banking, following these steps:

• Log In: Log in to the ESAF Small Finance Bank RD application page.
• Select RD Option: Choose recurring deposits and submit.
• Contact: A bank representative will connect with you shortly after.
• Submit Documents: Provide required KYC documents.
• Enter Details: Fill in the instalment amount and tenure.
• Link Account: Choose your ESAF Small Finance Bank savings account or current account to be auto-debited.
• Review & Submit: Verify details and confirm the request.
• Confirmation: Receive RD account creation confirmation.

Offline Method

You can easily open an RD account offline by following these steps:

• Branch Visits: Visit the closest branch.
• Fill Form: Fill in the RD application form.
• Submit Documents: Provide required KYC documents.
• Choose Details: Select the instalment amount and tenure.
• Deposit the initial instalment: Pay the first monthly instalment.
• Set Instructions: Provide payment instructions.
• Account Activation: The bank opens the RD account and issues confirmation details.

Eligibility Criteria for ESAF Small Finance Bank RD

To open an RD account with ESAF Small Finance Bank, the given criteria have to be followed:

• Applicants: Any adult individual can open an RD account singly or jointly with other eligible candidates.
• Age Limit: Minors above the age of 10 can open an RD account, while there is no upper age limit.
• Documentation Requirement: Account holders are mandated to provide valid KYC documents such as identity proof, address proof, and photographs, among others, as required by the bank.
• Bank Account Requirement: A savings or current account with ESAF Small Finance Bank to make monthly instalments is mandatory.

Key Takeaways

ESAF Small Finance Bank offers a recurring deposit scheme suitable for both small savings and larger ones. ESAF Small Finance Bank RD interest rates currently vary from 4% to 8% p.a for the general public, and 4.50% to 8.50% p.a for senior citizens. The rates you get depend on the period of saving, which spans from 6 months to 10 years. You can also check ESAF Small Finance Bank FD interest rates for guaranteed returns like recurring deposits.