APN News

  • Wednesday, May, 2024| Today's Market | Current Time: 03:28:57
  • Ujjivan Small Finance Bank revises fixed deposits interest rates, offers 8.25% for regular customers for 12 months, 8.75% for senior citizens.

    Published on June 2, 2023

    HIGHLIGHTS: 

    • Highest interest rate for regular customers, NRO would be 8.25% for 12 months and 80 weeks (560 days)
    • Highest interest rate for Senior citizens would be 8.75% for 12 months and 80 weeks (560 days)
    • Platina FD would get an additional interest rate of 0.20% and are applicable for deposits above Rs.15 Lakhs and below Rs.2 Crores only.

    Chennai: Mr. Ittira Davis, Managing Director and Chief Executive Officer Ujjivan SFB commented, “We are pleased to announce the increase in our fixed deposit interest rates for the 12-month tenure and the extension of the higher rate will benefits our clients with short-term deposit needs. This complements our overall strategy of building our granular deposit base, as a retail mass market bank.”

    New rates are effective from June 1, 2023 for Regular Customers, NRO and NRE

    Sr. No.Tenure BucketExisting ROIProposed ROI
    112 months6.50%8.25%

    Platina FD would get an additional interest rate of 0.20%, and are applicable for deposits above Rs.15 Lakhs and below Rs.2 Crores only. 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 Term Deposits.

    SEE COMMENTS

    Leave a Reply