APN News

Ujjivan Small Finance Bank revises fixed deposits interest rates, offers 8.25% for regular customers for 12 months, 8.75% for senior citizens.

HIGHLIGHTS: 

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.

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