Ujjivan Small Finance Bank increases interest rate on some fixed deposits; to offer up to 8% and 8.75% for senior citizens
· 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%. These are applicable for deposits above Rs.15 Lakhs and below Rs.2 Crores only.
Mr. Ittira Davis, Managing Director and Chief Executive Officer, Ujjivan SFB, commented, “The FD rate increase is a reinforcement of our commitment to offer our customers the best products. This also is in line with our retail strategy of building granular deposits and the evolving macro-economic situation.”
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% |
Customers can invest a minimum of above ₹15 lakhs to below ₹ 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