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Ujjivan Small Finance Bank FD Interest Rates

Ujjivan Small Finance Bank FD Rates 2021

Last Updated 10th Nov 2020

Ujjivan Small Finance Bank is one of most reliable FD providers amongst a number of FD providers in the market. Ujjivan Small Finance Bank FD offers a number of benefits to investors such as higher returns, flexible tenure, lower minimum deposit limit, and loan against FD facility, among others. When it comes to the FD interest rate, the highest rate offered on Ujjivan Small Finance Bank FD is 6.50%. Latest Ujjivan Small Finance Bank FD interest rate for senior citizens, on the other hand ranges between 3.55% to 7.00%.

Tenure FD interest rates Senior Citizen FD interest rates
7 days to 29 days 3.05% 3.55%
30 days to 89 days 4.05% 4.55%
90 days to 179 days 4.80% 5.30%
180 days to 364 days 5.20% 5.70%
1 year to 2 years 6.50% 7.00%
Earn upto 6.95% on FD APPLY NOW

Ujjivan Bank Fixed Deposit Features

Ujjivan Small Finance Bank FDs are one the best investment option available for depositors who are looking to invest in a fixed income instrument and earn higher returns than savings account. Key Features of Ujjivan Small Finance Bank Fixed Deposit are:

  • Deposit Amount: Ujjivan Small Finance Bank FD can be opened with an amount as a low ₹ 1,000 to up to No limit.
  • FD Tenure: Ranges between 7 days to 2 years.
  • Interest Rate Range: 3.05% p.a. to 6.50% p.a.
  • Senior Citizens FD Rate: 3.55% to 7.00% p.a.
  • Highest Interest Rate: As per today’s rate, Ujjivan Small Finance Bank’s highest interest rate on FD is 6.50% offered for a tenure of 2 years.
  • Safety of Ujjivan Small Finance Bank Deposits: Ujjivan Small Finance Bank deposits are covered under the Deposit Insurance Scheme of RBI in which up to ₹ 5 lakh of all deposits of a depositor are insured by DICGC.
  • Loan against FD: Ujjivan Small Finance Bank provides loan against FD to help its depositor meet their liquidity requirements without breaking the FD.
  • Auto Renewal Facility: Available
  • Nomination Facility: Available
  • Popular FD Schemes: Regular Fixed Deposits , Ujjivan Small Finance Bank Tax Saver Fixed Deposits

Ujjivan Small Finance Bank Best FD Plan

We need to compare tenure wise latest FD rate of Ujjivan Small Finance Bank to choose the tenure at which it provides the highest interest rate. Ujjivan Small Finance Bank FD rates are best for the deposits with a tenure of 1 year to 2 years, wherein the current FD rate of interest is 6.50% p.a

If one is looking to invest in short term deposits with Ujjivan Small Finance Bank, FD interest rates range from 3.05% p.a. to 5.20% p.a for deposits with a tenure of 7 days to less than 365 days. These deposits are known as short term deposits as they have a tenure of less than 1 year. Short term Ujjivan Small Finance Bank FD rates for senior citizens range from 3.55% to 5.70% p.a.

If one is looking to invest in long term deposits, Ujjivan Small Finance Bank FD interest rates with tenure of 5 years to 10 years are a good choice with interest rates on deposits with a tenure of 10 years at 5.55%. Senior citizens are offered special rates from bank with highest deposit rates of 6.05% p.a. on long term FDs.

Fixed Deposits of Ujjivan Small Finance Bank have a higher interest rate compared to their saving deposits. Benefits of opening a FD account in Ujjivan Small Finance Bank are:

  • Interest on deposit is paid only at the time of the maturity
  • Nomination facility available
  • Extra interest of 0.25% to 0.50% payable to the senior citizens
  • Availability of auto renewal facility on the deposit
  • Earn higher returns on the money deposited

Documents required to open Fixed Deposit Account in Ujjivan Small Finance Bank

  • Signed account opening form.
  • KYC documents-PAN and Aadhar.

Ujjivan Small Finance Bank Fixed Deposit Rates – Premature Withdrawal

Premature closure of Term Deposit with Ujjivan Small Finance Bank is along with the lower interest rate of than the contracted rate. The penal provisions for premature closure on Ujjivan Small Finance Bank FD are subject to change from time to time and may also vary with deposit schemes.

Loan against Fixed Deposit Ujjivan Small Finance Bank

Ujjivan Small Finance Bank offers loan up to 0% against its own deposit. Note that Ujjivan Small Finance Bank will not give you loan against FD of any other bank. Ujjivan Small Finance Bank offers Loan against FD at the rate of 4.05% to 7.5%

FD Account Opening Process at Ujjivan Small Finance Bank

To open a Fixed Deposit account in Ujjivan Small Finance Bank, you can visit the official website and login to your account. Choose Fixed Deposit option from the menu and select the Type of FD you want to open and proceed. After this, you have to fill the deposit amount and select ‘Senior Citizen’ option if you are above 60. You have to choose the tenure of deposit and interest payout frequency. Click on Submit to open the Ujjivan Small Finance Bank FD after reading the terms and conditions.

Nomination Facility on Ujjivan Small Finance Bank FD

Ujjivan Small Finance Bank offers nomination facility on Fixed Deposit to claim the amount in case of the death of the depositor. An individual, single or joint account holders can appoint a nominee. Only one person can be appointed as nominee. You can fill nominee details while opening a Ujjivan Small Finance Bank fixed deposit. Nominee has to submit his/her identification proof at the time of claim.

Ujjivan Small Finance Bank Fixed Deposit Scheme

Regular Fixed Deposits

Description:

  • Ujjivan Small Finance Bank FD provides tax benefits, safety, moderate rate of returns, liquidity and flexibility of investing and becomes a great instrument for growing the money.
  • Interest is calculated quarterly and paid at Maturity only.
  • Premature closure is allowed.
  • Mobile Banking facility is available.
  • The minimum initial amount should be Rs. 1,000.
  • The high-interest rate for senior citizens.

Who is eligible?

  • An Individual, Minor, HUF, proprietary/ partnership firm, LLP, company, AOP, body of individuals (BOI), local authority, trust and NRI.
Ujjivan Small Finance Bank Tax Saver Fixed Deposits

Description:

  • Tax saver fixed deposit (FD) is a type of fixed deposit, by investing in which, one can get tax deduction under section 80C of the Indian Income Tax Act, 1961. An individual can claim a deduction of a maximum of Rs.1. 5 lakh by investing in tax saver fixed deposits.
  • The Minimum amount is Rs. 1000
  • Lock in period is 5 years.
  • Interest payment options available at quarterly, monthly and at Maturity.

Who is eligible?

  • An individual and HUF.

FAQs

What is the highest FD rate for Ujjivan Small Finance Bank?

You can earn a maximum interest of 6.50% on Ujjivan Small Finance Bank fixed deposit.

Are there any special rates for senior citizens FD of Ujjivan Small Finance Bank?

Yes, senior citizens get a higher rate on their deposits compared to FD rates. The rate of regular FD are in the range of 3.05% to 6.50%. Compared to this, the rate of senior citizens FD are in the range of 3.55% to 7.00%.

What are the current Ujjivan Small Finance Bank FD interest rates 2021?

Current interest for FD in Ujjivan Small Finance Bank ranges between 3.05% - 6.50%.

Is there any minimum amount that I have to give for opening a Fixed Deposit with Ujjivan Small Finance Bank?

The minimum deposit amount required to book an FD with Ujjivan Small Finance Bank is ₹ 1,000.

Can I deposit additional amount in my FD account?

No, you cannot deposit any additional amount in your existing FD account as you are allowed to deposit only once at the time of opening the account. If you want to invest any additional amount in FD, you are required to open a new FD account.

Who is eligible for opening an FD account in Ujjivan Small Finance Bank?

All resident individuals, HUFs, NRIs, Firms including minors are eligible to open a fixed deposit account.

What documents are required to open an FD account in Ujjivan Small Finance Bank?

The documents required to open an FD account in Ujjivan Small Finance Bank includes Signed account opening form., KYC documents-PAN and Aadhar..

Is it possible to change the tenure of my existing fixed deposit account with Ujjivan Small Finance Bank?

No, it is not possible to alter the tenure selected for the fixed deposit account once the account is opened. However, you may close your existing fixed deposit account and can open a new account with a desired tenure of your choice.

What are the implications of opening an FD bank account without having PAN?

Following are the implications for the customers opening an FD account with Ujjivan Small Finance Bank without their PAN card

  • TDS will be deducted at the rate of 20% as against 10% under section 206AA
  • NO TDS credit from the Income Tax department
  • NO TDS certificate will be issued
  • Form 15G/H and other exemption certificates will be invalid and penal TDS will apply

Can a customer open a FD account online in Ujjivan Small Finance Bank?

Yes, you can submit your application for opening a FD account on the website of Ujjivan Small Finance Bank. After submitting the application, you will be contacted by the bank’s representative for further process which includes filling an application process and submitting KYC documents.

In how many years FD will double in Ujjivan Small Finance Bank?

The interest rate on FD depends upon the tenure you choose. To know the time period in which your FD amount will get doubled, you need to divide 72 with the 6.50%. For Ujjivan Small Finance Bank FD the number of years in which your FD will get doubled is; 72/6.50 = 11


Ujjivan Bank News - Jan 2021
  • 2020-11-10 : Ujjivan Small Finance Bank reported a marginal rise in Q2 net profit
    Ujjivan Small Finance Bank posted a marginal rise in net profit at Rs 96 crore for September. Total income during July-September 2020-21 increased to Rs 818.01 crore on the back of retail loans like home, personal, gold, two-wheeler and car loan along with business and mudra loans. Further, The bank opened 5.1 lakh deposit accounts between April and September while retail deposits have now grown to 49% of total deposits as against 42% a year back. Deposits which includes fixed and recurring deposits stood at Rs 10,743 crore.
  • 2020-05-06 : Ujjivan Bank revised its FD rates
    With effect from 2 May 2020, Ujjivan Bank changed its FD rates. The FD rates for 7 to 29 days is 4.50%, it is 5.35% for 30 to 89 days and stands at 6.10% for 90 to 179 days. Further, the fixed deposits rate for 180 days to 364 days is 6.50%, for one year to 799 days it is 7.50% and stands at 7.25% for 800 days to 3 years. The FD rate for three years one day to 5 years is 6.75%, and it stands at 6.25% for 5 Years and 1 Day to 10 Years.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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