1. How can I invest in Suryoday Small Finance Bank Fixed Deposits on FYERS? ▼
- Log in to the FYERS App or Web.
You can search for Fixed Deposits from the Home page or:
- Scroll down to the Investment Products section on the Home page.
- Tap/Click More or ☰ Menu and select Fixed Deposits from the Invest section.
- Select the Suryoday Small Finance Bank FD plan.
- Choose the FD plan from the Overview or Explore section.
- Review the FD details including interest rate, tenure and other FD details
- Click Invest.
- Enter the FD investment amount.
- Choose the interest payout frequency including Monthly, Quarterly, Half-Yearly, Yearly, or On Maturity options based on the selected FD plan.
- Select the maturity instructions including Renew Principal, Renew Principal + Interest, or Do not renew based on your preference.
- Click Review to check the total investment amount, estimated returns and other details.
- Verify the KYC details displayed on the screen including PAN details, Aadhaar details, and nominee details before completing the payment process.
- Complete the payment and VKYC process by clicking on Start video KYC
- Or if you choose it to do later go to the Orders section and open the Suryoday Small Finance Bank FD order.
- Click/Tap Complete V-KYC.
- Suryoday Small Finance Bank V-KYC is available from 8:00 AM to 11:00 PM, daily except Sundays, 2nd and 4th Saturdays, and public holidays.
- During the V-KYC process, provide your Name, Address, Date of Birth (DOB), PIN code, Profession, and Annual income.
- Read and follow the instructions displayed on the issuer’s V-KYC page.
Keep the following ready for verification:
- Physical PAN card (Front and Back)
- Signature
- Complete the live video verification process.
2. How can I withdraw Suryoday Small Finance Bank Fixed Deposits on FYERS? ▼
- Log in to the FYERS Web.
- Go to Portfolio → Holdings.
- Open the Fixed Deposits section.
- Select the Suryoday Small Finance Bank FD you want to withdraw.
Check the FD details:
- From the Overview tab, you can check the invested amount, tenure, and all the investment details.
- From the Payout Timeline tab, you can check the invested amount (Principal), maturity payout amount, and payout dates for the Fixed Deposit.
- Check FD Details. Click on Request Withdrawal.
- A confirmation message will display the estimated interest earnings you may miss out on if the FD is withdrawn before maturity. Click Yes, Continue if you wish to proceed.
- Select the reason for withdrawal and click Submit Feedback.
- Confirm the bank account details where the withdrawal amount should be credited and click Continue.
- Review the Withdraw FD details showing withdrawal Amount, investment tenure and other details. click Withdraw FD.
- Enter the OTP sent to your registered contact number and click Verify OTP to confirm.
- After successful verification, the FD will be liquidated and the payout amount will be credited to the linked bank account.
3. Are deposits of Suryoday Bank insured by RBI? ▼
Yes. Suryoday Small Finance Bank (SFB) depositors are eligible for deposit insurance from DICGC (Deposit Insurance and Credit Guarantee Corporation), as the RBI recognises Suryoday SFB as a scheduled bank. Deposits are insured up to ₹5 lakh by DICGC. Suryoday has 700+ branches, ₹9,600 Cr+ in AUM, and serves 33 lakh+ customers.
4. Do I need to have an account with Suryoday Bank to book an FD? ▼
No, you do not need to have an account with Suryoday Bank to book an FD.
5. Are there Tax Saving FDs with Suryoday Bank? ▼
Yes, Suryoday SFB offers tax-saving FDs with a minimum deposit of ₹1,000 and a maximum of ₹1.5 lakhs per financial year. These carry a 5 year lock in period and qualify for deductions under Section 80C of the Income Tax Act (up to ₹1.5L per FY under the old tax regime).
6. What is the minimum and maximum deposit amount? ▼
The minimum deposit amount is ₹1,000 and the maximum deposit amount is ₹3 Crore.
7. What is the minimum and maximum tenure? ▼
The minimum tenure is 7 days and the maximum tenure is 10 years.
8. Are there special benefits for women investors? ▼
No, there are no special interest rate benefits for women investors at Suryoday Bank.
9. How many nominees are allowed? ▼
Currently, up to 1 nominee per FD is allowed.
10. Are monthly interest payments available? ▼
Yes. Suryoday Bank offers monthly, quarterly, or on maturity interest payout options.
11. Is auto-renewal allowed? ▼
Yes. Customers can choose auto renewal when setting up their FD or at any time during the term. On maturity, the FD automatically renews for the same tenure at the prevailing interest rate.
12. What are the available payment modes? ▼
UPI is available for transactions up to ₹1 lakh per transaction and Net Banking is available for transactions above ₹1 lakh. All major UPI apps such as Paytm, Google Pay, and PhonePe, along with major banks, are supported.
13. How will I receive my Fixed Deposit Receipt (FDR)? ▼
An E FDR will be sent to your registered email address after completing the transaction. If you do not receive it or lose access to it, contact Suryoday Small Finance Bank customer service or visit your nearest branch. You will need to provide your FD details and submit a written request as per the bank’s process.
14. Can I make payment from any bank account? ▼
Yes, payment can be made as long as you are the primary holder of the bank account. Resident individual savings bank accounts and joint savings accounts where the FD applicant is the primary holder are accepted. Current, NRO, NRE, and FCNR accounts cannot be used.
15. What should I do if I lose my FD receipt? ▼
Contact Suryoday SFB's customer service or visit your nearest branch to report the loss. You will need to provide FD details and submit a written request as per the bank's process.
16. How long must I wait before making a premature withdrawal? ▼
A minimum waiting period of 7 days is required before making a premature withdrawal.
17. How can I get the FD statement for tax filing? ▼
Suryoday Bank helps you get your TDS/P&L statement directly from the platform.
18. Can a loan be taken against the FD? ▼
No. Suryoday Small Finance Bank currently does not allow loans against fixed deposits, including tax saver or non callable deposits.
19. Does Suryoday Bank offer extra benefits for Senior Citizens? ▼
Yes. Senior citizens receive an additional interest rate benefit of 0.40% p.a.
20. How to claim for TDS? ▼
TDS can be claimed by navigating to the portfolio section.
21. Is there API based submission for SSFB? ▼
Yes, users can submit 121/TDS exemptions directly via API.
22. What is the portal for submission for SSFB? ▼
Customers can log in to the customer portal or app, navigate to the Active FD tab, select their active FD, click on “Check TDS exemption,” and then click on “Update Status”.
23. What is the penalty for premature withdrawal? ▼
Suryoday Small Finance Bank charges a 1% penalty on premature withdrawals of fixed deposits (FDs). The bank also pays interest based on the rate applicable at the time of opening the account, for the period the FD remained with the bank.
24. What is the compounding frequency for a Suryoday Bank FD? ▼
The compounding frequency for a Suryoday Bank FD is done on quarterly basis
25. When and Where will I receive my money in case of a withdrawal? ▼
Your money will come within 7 working days after placing withdrawal instructions successfully to the account details added during the FD booking process
26. Is Video KYC required to book an FD ▼
Yes, you need a Video KYC for booking a Suryoday Bank.
27. Do I need to visit branch or submit the Fixed Deposit receipt to receive the proceeds on maturity? ▼
No need to visit the branch or discharge the FDR receipt; FD proceeds will be directly credited to depositors account registered at the time of maturity in case of auto repayment option.
28. When is TDS deducted in case of Suryoday Bank Fixed Deposit? ▼
Suryoday Small Finance Bank will deduct TDS on fixed deposit (FD) interest according to the Income Tax Act. TDS is applicable if the interest income during a financial year exceeds ₹40,000 for individuals and ₹50,000 for senior citizens. The TDS rate is 10% if you provide PAN details, and 20% if you don't.
29. Does Suryoday Bank Fixed Deposit investment provide tax exemption? ▼
Yes, Suryoday Small Finance Bank's Tax Saver Fixed Deposit scheme offers a tax deduction of up to ₹1.5 lakh under Section 80C of the Income Tax Act. To avail the tax benefits, you need to provide your PAN details when opening the account.
30. What is the difference between a Non-cumulative Fixed deposit and a Cumulative deposit? ▼
For Non-Cumulative Fixed Deposits, the interest is payable on Monthly, Quarterly, basis. For Cumulative Deposits, the interest is payable at the time of maturity together with the principal amount.
31. Can I withdraw the interest earned prematurely without breaking the Fixed Deposit? ▼
Yes, Suryoday Bank, allow you to withdraw the interest earned on a Fixed Deposit (FD) without breaking the FD. This is typically done through an Interest Payout option.