Ujjivan Bank hikes fixed deposit rates 2022; check return calculator, interest rate and more

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New Delhi: The interest rates for Ujjivan Small Finance Bank's (SFB) fixed deposit products have been changed. The new rates are in effect as of yesterday, November 5, 2022, according to the bank's official website. The Platina FD, Domestic & NRO Fixed Deposits, Sampoorna Nidhi, Recurring Deposits, Sampoorna Lakshya, and NRE- Fixed Deposits are all subject to the amended interest rates.

For non-senior citizens, the bank now offers Platina FDs at a maximum interest rate of 8.2 percent, while Domestic FDs, have a maximum interest rate of 8 percent and are above the current inflation rate. According to the website of Ujjivan Small Finance Bank, "Platina FD rates are applicable for deposits above Rs 15 lakh and below Rs 2 crores only. ()

On deposits with maturities ranging from 12 months to 60 months, the bank is now offering an interest rate that ranges from 6.7 percent to 7.4 percent. Platina FDs will now have a maximum interest rate of 8.20 percent maturing in 560 days. 

The bank will now give an interest rate of 3.75 percent on domestic and NRO fixed deposits and Sampoorna Nidhi deposits of less than 2 crores maturing in 7 days to 29 days, and an interest rate of 4.25 percent on those maturing in 30 days to 89 days.

On deposits maturing in 560 days, the bank will now offer a maximum interest rate of 8 percent, whereas Ujjivan SFB will now offer a 7.50 percent interest rate on deposits maturing in 561 Days to 989 Days. Deposits with a 990-day maturity period now earn 7.75 percent interest, while those with a 991-day to 60-month maturity period now earn 7.2 percent interest.

Ujjivan Small Finance Bank will charge interest at a rate of 6.5 percent on deposits that mature in any time frame between 60 months and a day and 120 months. The bank will offer a 0.75 percent higher interest rate for resident senior citizens across all tenors.

The current range of interest rates on recurring deposits for the general population is between 5.5 percent to 6.5 percent. RDs that mature in 15 to 24 months will have a maximum interest rate of 7.50 percent. For all tenors, the bank will provide senior residents in the area with an additional interest rate of 0.75 percent.