- News>
- Personal Finance
FD rate hike alert! Ujjivan Small Finance Bank hikes fixed deposit interest rate upto 8.75%
Customers can invest a minimum of above Rs 15 lakhs to below Rs 2 Crores under the plan. The Platina FD is non-callable, i.e. partial and premature withdrawal facility is not available in this scheme.
New Delhi: Ujjivan Small Finance Bank has announced that it has increased the interest rate on some fixed deposits. The bank will offer up to 8 percent for regular customers and 8.75 percent interest for senior citizens.
Here are the new FD rates for Ujjivan Small Finance Bank customers
Highest interest rate for regular customers would be 8% for 80 weeks (560 days)
Highest interest rate for Senior citizens would be 8.75% for 80 weeks (560 days)
Platina FD would get an additional interest rate of 0.20%.
New rates are effective from November 5, 2022
| S.No | Tenure Bucket | Existing 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 for deposits above Rs 15 Lakhs and below Rs 2 Crores only.
Customers can invest a minimum of above Rs 15 lakhs to below Rs 2 Crores under the plan. The Platina FD is non-callable, i.e. partial and premature withdrawal facility is not available in this scheme.
Ujjivan SFB allows monthly, quarterly and at maturity interest pay-out options. The Tax Saver Fixed Deposits comes with five years lock-in period.
The latest round of rate increases on FDs place Ujjivan SFB among the banks offering the highest Interest Rates on the Term Deposits.
Ujjivan Small Finance Bank began operations in February 2017 and currently serves 70+ lakh customers through its 590 branches and 16,600+ employees.