OPEN APP
Home / Money / Personal Finance /  Ujjivan Small Finance Bank revises interest rates on savings accounts
Listen to this article

Ujjivan Small Finance Bank has revised its interest rates on savings accounts. As per the bank's official website, the new rates are in force from 9th August. Savings account holders will now get a maximum interest rate of 7% as a result of the adjustment. On a quarterly basis, this interest is paid out based on the day-end balances that are kept in the savings account.

Ujjivan Small Finance Bank Savings Account Interest Rates

On savings account balances of up to 1 lakh, the bank is now offering an interest rate of 3.50% and on savings account balances of more than 1 lakh up to 5 lakh, the bank will now offer an interest rate of 6.00%. Ujjivan Small Finance Bank will now offer a maximum interest rate of 7% on savings account balances of more than 5 lakh to 5 crore and on savings bank deposits of more than 5 crore the bank will now offer an interest rate of 6.75%.

Ujjivan Small Finance Bank Savings Account Interest Rates
View Full Image
Ujjivan Small Finance Bank Savings Account Interest Rates (ujjivansfb.in)

The bank has mentioned on its website that “The higher interest rate will be applied and paid only basis the balances maintained as per slabs. Ex: If a customer maintains Rs.120,000/- in the savings account, 3.50% interest will be earned for Rs.100,000/- and 6.00% interest will be earned for the remaining Rs.20,000/-."

The interest rates on fixed deposits under 2 Cr have been increased at Ujjivan Small Finance Bank. The new interest rates on fixed deposits will take effect on August 9th, 2022. The bank is now giving an interest rate on the Platina Fixed Deposit Scheme that ranges from 7.20 percent to 7.40 percent on deposits maturing in 12 months to 60 months. The bank is now giving a maximum interest rate of 7.70 per cent on Platina Fixed Deposits of 75 weeks (525 Days). The bank is now providing an interest rate ranging from 3.75 percent to 6 percent on domestic and NRO fixed deposits as well as Sampoorna Nidhi deposits with maturities ranging from 7 days to 120 months. The bank provides a maximum interest rate of 7.50 percent for the general public and 8.25 percent for senior citizens on fixed deposits maturing in 75 weeks (525 Days), 990 Days, and 75 Months. On domestic fixed deposits, senior citizens will continue to receive an additional 0.75 percent interest rate across all tenors.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Recommended For You

Trending Stocks

×
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout