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Home / Money / Personal Finance /  Ujjivan Small Finance Bank hikes fixed deposit rates: Now get up to 8.25%
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On fixed deposits below 2 crore, Ujjivan Small Finance Bank has increased interest rates. The new interest rates are effective as of today, August 9, 2022, according to the bank's official website. After the adjustment, the bank is now offering fixed deposits with maturities ranging from 7 days to 120 months at interest rates ranging from 3.75 per cent to 6 per cent for the general public and 4.50 per cent to 6.75 per cent for senior citizens. In order to provide investors with returns that outpace inflation, the bank is now offering fixed deposits with a maximum interest rate of 7.50 per cent for the general public and 8.25 per cent for senior citizens.

Ujjivan Small Finance Bank FD Rates

In place of the 2.90 per cent interest rate that was previously offered on fixed deposits maturing in 7 days to 29 days, the bank is now offering an interest rate of 3.75 per cent. For fixed deposits maturing in 30 days to 89 days, the bank is now offering an interest rate of 4.25 per cent, which was previously offered at 3.50 per cent. Term deposits maturing in 6 months will now provide an interest rate of 5.25 per cent, up from 5 per cent, while fixed deposits maturing in 90 to 179 days will now offer an interest rate of 4.75 per cent, up from 4.25 per cent. On fixed deposits maturing in 6 months to less than 9 months, Ujjivan Small Finance Bank will now provide an interest rate of 5.50 per cent, up from 4.75 per cent previously. On fixed deposits maturing in 9 months, the bank will now pay an interest rate of 5.75 per cent, up from 5.05 per cent previously.

The bank will continue to give an interest rate of 6.50 per cent on fixed deposits maturing in more than 9 months but less than 12 months, and will now offer an interest rate of 7.00 per cent instead of 6.70 per cent on fixed deposits maturing in 12 months. Fixed deposits maturing in 75 weeks (525 Days) will now provide a maximum interest rate of 7.50 per cent while term deposits maturing in 12 Months and 1 Day to 524 Days will now give an interest rate of 7.20 per cent. Ujjivan Small Finance Bank will now give an interest rate of 7.20 per cent on fixed deposits maturing in 526 days to 18 months, while the bank will also offer an interest rate of 7.00 per cent, up from 6.60 per cent, on term deposits maturing in 18 months and 1 day to less than 24 months.

Deposits with a maturity period of 24 months will continue to pay a 7.10 per cent interest rate, while term deposits with a maturity period of 24 months, 1 day to 989 days will continue to pay a 6.50 per cent interest rate. On deposits maturing in 990 days, Ujjivan Small Finance Bank will now give an interest rate of 7.50 per cent, up from 7.20 per cent previously. Fixed deposits maturing in 36 Months 1 Day to 42 Months will continue to provide an interest rate of 6.25 per cent, while deposits maturing in 991 days to 36 Months will continue to give a 6.50 per cent interest rate. The bank currently offers an interest rate of 6.00 per cent on term deposits maturing in 60 months 1 day to less than 75 months, while it will continue to provide an interest rate of 7.20 per cent on fixed deposits maturing in 42 months, 1 day to 60 months. The bank currently offers a 7.50 per cent interest rate on fixed deposits maturing in 75 months, and a 6.00 per cent interest rate will be in effect on fixed deposits maturing in 75 months, 1 day to 120 months.

Ujjivan Small Finance Bank FD Rates
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Ujjivan Small Finance Bank FD Rates (ujjivansfb.in)

Ujjivan Small Finance Bank Platina FD Rates

Platina Fixed Deposit Scheme is another unique deposit option provided by Ujjivan Small Finance Bank. Platina FD rates are only applicable for deposits over Rs. 15 lakh and under Rs. 2 crores. Additionally, Platina FD rates are non-callable deposit instruments, hence depositors cannot make partial or premature withdrawals from this term deposit plan. Ujjivan Small Finance Bank has mentioned on its website that “Platina FDs are available for individuals of age <60 years only. Hence, Sr. citizen cannot open Platina FDs. Platina FD is now offered to individuals (<60 yrs) and TASC customers only (excluding FIG)." The bank now provides an interest rate on this deposit plan that ranges from 7.20 percent to 7.40 percent on deposits that mature in 12 months to 60 months. Customers can earn a maximum interest rate of 7.70 percent on Platina Fixed Deposits for terms of 75 weeks (525 Days) and 990 Days.

Ujjivan Small Finance Bank Platina FD Rates
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Ujjivan Small Finance Bank Platina FD Rates (ujjivansfb.in)
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