ESAF Small Finance Bank offers a variety of fixed deposit (FD) schemes for both residents and non-residents. The interest rates on ESAF FD schemes are generally higher than those offered by larger banks.
ESAF FD Rates for Regular Citizens
Table of Contents
- ESAF FD Rates for Senior Citizens
- ESAF NRO FD Rates
- ESAF NRE FD Rates
- Features of ESAF FD Schemes
- Additional Information on ESAF Small Finance Bank FD Rates
- Comparison of ESAF FD Rates with Other Banks
- Things to Consider Before Investing in ESAF FDs
- ESAF Small Finance Bank IPO Oversubscribed 8.32 Times
- Analysts’ Views on the ESAF Small Finance Bank IPO
- ESAF Small Finance Bank IPO FAQs
| Tenure | Interest Rate |
|---|---|
| 7 days to 1 year | 4.50% – 6.50% |
| 1 year to 2 years | 6.50% – 7.50% |
| 2 years to 3 years | 7.50% – 8.50% |
| 3 years to 5 years | 7.75% – 8.75% |
| 5 years to 10 years | 8.00% – 9.00% |
ESAF FD Rates for Senior Citizens
Senior citizens are eligible for a preferential interest rate of 0.50% on all ESAF FD schemes.
ESAF NRO FD Rates
| Tenure | Interest Rate |
|---|---|
| 7 days to 1 year | 4.00% – 6.00% |
| 1 year to 2 years | 6.00% – 7.00% |
| 2 years to 3 years | 7.00% – 8.00% |
| 3 years to 5 years | 7.25% – 8.25% |
| 5 years to 10 years | 7.50% – 8.50% |
ESAF NRE FD Rates
| Tenure | Interest Rate |
|---|---|
| 7 days to 1 year | 4.50% – 6.50% |
| 1 year to 2 years | 6.50% – 7.50% |
| 2 years to 3 years | 7.50% – 8.50% |
| 3 years to 5 years | 7.75% – 8.75% |
| 5 years to 10 years | 8.00% – 9.00% |
Features of ESAF FD Schemes
- ESAF FD schemes offer a flexible range of tenures, from 7 days to 10 years.
- Depositors can earn higher interest rates by choosing a longer tenure.
- ESAF FD schemes are available for both residents and non-residents.
- Senior citizens are eligible for a preferential interest rate of 0.50%.
- ESAF FD schemes are covered by deposit insurance from the Deposit Insurance and Credit Guarantee Corporation (DICGC).
How to Open an ESAF FD Account
ESAF FD accounts can be opened online or at any ESAF bank branch. To open an ESAF FD account online, you will need to have a valid PAN card and Aadhaar number.
Benefits of Investing in ESAF FDs
- ESAF FD schemes offer higher interest rates than those offered by larger banks.
- ESAF FD schemes are flexible and offer a range of tenures to choose from.
- ESAF FD schemes are covered by deposit insurance from the DICGC.
Additional Information on ESAF Small Finance Bank FD Rates
- ESAF FD interest rates are compounded quarterly, which means that you will earn interest on your interest.
- ESAF offers a variety of FD schemes, including regular FDs, tax saver FDs, and NRE/NRO FDs.
- ESAF also offers a variety of add-on features on its FD schemes, such as overdraft facility, loan against FD, and premature withdrawal facility.
- ESAF FD schemes are a good option for both short-term and long-term investors.
Comparison of ESAF FD Rates with Other Banks
The following table compares ESAF FD rates with other banks:
| Bank | 1 Year FD Rate | 3 Year FD Rate | 5 Year FD Rate |
|---|---|---|---|
| ESAF Small Finance Bank | 6.50% – 7.50% | 7.75% – 8.75% | 8.00% – 9.00% |
| HDFC Bank | 4.75% – 5.75% | 6.00% – 7.00% | 6.25% – 7.25% |
| SBI | 4.50% – 5.50% | 5.75% – 6.75% | 6.00% – 7.00% |
As you can see, ESAF FD rates are generally higher than those offered by other banks.
Things to Consider Before Investing in ESAF FDs
- ESAF Small Finance Bank is a relatively new bank, so it is important to do your research before investing in its FD schemes.
- ESAF FD schemes are not listed on any stock exchange, so it may be difficult to sell your FD prematurely.
- ESAF FD schemes are covered by deposit insurance from the DICGC, but the insurance coverage is limited to ₹5 lakh per depositor per bank.
Overall, ESAF Small Finance Bank FD schemes are a good option for investors looking for higher interest rates and flexibility. However, it is important to do your research and understand the risks involved before investing in any FD scheme.
ESAF Small Finance Bank IPO Oversubscribed 8.32 Times
ESAF Small Finance Bank’s initial public offering (IPO) was oversubscribed 8.32 times on the last day of subscription, November 7, 2023. The IPO received bids for 6,30,59,400 shares against an offer of 75,67,000 shares.
The retail portion of the IPO was subscribed 11.95 times, while the non-institutional investor portion was subscribed 6.67 times. The institutional investor portion was subscribed 0.92 times.
The company plans to raise Rs 463 crore through the IPO, which comprises a fresh equity issue of Rs 391 crore and an Offer For Sale (OFS) of Rs 72 crore. The proceeds from the IPO will be used to augment the bank’s tier-I capital base and support its growth plans.
The price band for the IPO was fixed at Rs 57 to Rs 60 per share. The allotment date for the IPO is expected to be November 10, 2023, and the shares are expected to list on BSE and NSE on November 16, 2023.
Analysts’ Views on the ESAF Small Finance Bank IPO
Most analysts have assigned a ‘subscribe’ rating to the ESAF Small Finance Bank IPO. They believe that the company is well-positioned to benefit from the growth of the small finance bank sector in India.
Some of the key factors that analysts are considering include:
- The company’s strong focus on retail banking and its reach to underserved and unserved customers.
- The company’s healthy asset quality and profitability.
- The company’s experienced management team.
Conclusion
The ESAF Small Finance Bank IPO is a good investment opportunity for investors who are looking to invest in the growing small finance bank sector in India. The company has a strong track record and is well-positioned to benefit from the sector’s growth in the coming years.
ESAF Small Finance Bank IPO FAQs
Q: What is the ESAF Small Finance Bank IPO price band?
A: The ESAF Small Finance Bank IPO price band is set at Rs 57 to Rs 60 per share.
Q: What is the ESAF Small Finance Bank IPO issue size?
A: The ESAF Small Finance Bank IPO issue size is Rs 463 crore. The IPO comprises a fresh equity issue of Rs 391 crore and an Offer For Sale (OFS) of Rs 72 crore.
Q: What is the ESAF Small Finance Bank IPO allotment date?
A: The ESAF Small Finance Bank IPO allotment date is expected to be November 10, 2023.
Q: What is the ESAF Small Finance Bank IPO listing date?
A: The ESAF Small Finance Bank IPO shares are expected to list on BSE and NSE on November 16, 2023.
Q: How to apply for the ESAF Small Finance Bank IPO?
A: You can apply for the ESAF Small Finance Bank IPO through your broker. To do so, you will need to open a Demat account and have a UPI ID.
Q: What is the ESAF Small Finance Bank IPO retail quota?
A: The ESAF Small Finance Bank IPO retail quota is 35%.
Q: What is the ESAF Small Finance Bank IPO QIB quota?
A: The ESAF Small Finance Bank IPO QIB quota is 50%.
Q: What is the ESAF Small Finance Bank IPO HNI quota?
A: The ESAF Small Finance Bank IPO HNI quota is 15%.
Q: What are the risks associated with investing in the ESAF Small Finance Bank IPO?
A: Some of the risks associated with investing in the ESAF Small Finance Bank IPO include:
- The company is a relatively new bank and has a limited track record.
- The company operates in a highly competitive sector.
- The company is exposed to the risk of asset quality deterioration.
- The company is exposed to interest rate risk.
Q: Is the ESAF Small Finance Bank IPO a good investment?
A: Whether or not the ESAF Small Finance Bank IPO is a good investment depends on your individual investment goals and risk appetite. If you are looking to invest in the growing small finance bank sector in India and have a high risk appetite, then the ESAF Small Finance Bank IPO may be a good investment for you.