1. 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.
2. 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.
3. 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).
4. What is the minimum and maximum deposit amount? ▼
The minimum deposit amount is ₹1,000 and the maximum deposit amount is ₹3 Crore.
5. What is the minimum and maximum tenure? ▼
The minimum tenure is 7 days and the maximum tenure is 10 years.
6. Are there special benefits for women investors? ▼
No, there are no special interest rate benefits for women investors at Suryoday Bank.
7. How many nominees are allowed? ▼
Currently, up to 1 nominee per FD is allowed.
8. Are monthly interest payments available? ▼
Yes. Suryoday Bank offers monthly, quarterly, or on maturity interest payout options.
9. 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.
10. 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.
11. 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.
12. 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.
13. 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.
14. How long must I wait before making a premature withdrawal? ▼
A minimum waiting period of 7 days is required before making a premature withdrawal.
15. How can I get the FD statement for tax filing? ▼
Suryoday Bank helps you get your TDS/P&L statement directly from the platform.
16. 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.
17. Does Suryoday Bank offer extra benefits for Senior Citizens? ▼
Yes. Senior citizens receive an additional interest rate benefit of 0.40% p.a.
18. How to claim for TDS? ▼
TDS can be claimed by navigating to the portfolio section.
19. Is there API based submission for SSFB? ▼
Yes, users can submit 121/TDS exemptions directly via API.
20. 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”.