New Delhi: Ujjivan Small Finance Bank has announced that it has increased the interest rate on certain fixed deposits. The bank will offer 8 per cent interest for regular customers and 8.75 per cent for senior citizens.
Here are the new FD rates for Ujjivan Small Finance Bank customers
The highest interest rate for regular customers will be 8% for 80 weeks (560 days)
The highest interest rate for senior citizens will be 8.75% for 80 weeks (560 days).
An additional interest rate of 0.20% will be available on Platina FD.
The new rates are effective from November 5, 2022
| S.No | tenure bucket | current rates | revised rates |
|---|---|---|---|
| 1 | 80 weeks (560 days) | 7.20% | 8.00% |
| 2 | 990 days | 7.50% | 7.75% |
| 3 | 12 months 1 day to 559 days | 7.20% | 7.50% |
| 4 | 561 days to 989 days | 7.00% | 7.50% |
| 5 | 991 days to 60 months | 7.00% | 7.20% |
| 6 | 60 Months 1 Day to 120 Months | 6.00% | 6.50% |
These are applicable only for deposits above Rs 15 lakh and below Rs 2 crore.
Customers can invest a minimum of more than Rs 15 lakh and less than Rs 2 crore under the scheme. Platina FD is non-callable, that is, the scheme does not have the facility of partial and premature withdrawal.
Ujjivan SFB allows interest payment options monthly, quarterly and at maturity. Tax Saver Fixed Deposit comes with a lock-in period of five years.
The latest hike in rates on FDs has put Ujjivan SFB among the banks offering the highest interest rates on term deposits.
Ujjivan Small Finance Bank commenced operations in February 2017 and currently serves 70+ lakh customers through its 590 branches and 16,600+ employees.