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.NoTenure BucketExisting RatesRevised Rates
180 weeks (560 days)7.20%8.00%
2990 days7.50%7.75%
312 Months 1 day to 559 days7.20%7.50%
4561 days to 989 days7.00%7.50%
5991 days to 60 months7.00%7.20%
660 months 1 day to 120 months6.00%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

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