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

 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.

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 Bucket	Existing ROI	Proposed ROI
1	12 months	6.50%	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.