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Ujjivan Bank Savings Account Interest Rates

Ujjivan Bank Savings Account Interest 2021

Last Updated 29th Nov 2021

Saving Account Interest Rate
Ujjivan Bank Digital Savings Account 4.00% - 7.00%
Ujjivan Bank Regular Savings Account 4.00% - 7.00%
Ujjivan Bank Privilege Savings Account 4.00% - 7.00%
Ujjivan Bank Senior Citizen Savings Account 4.00% - 7.00%
Ujjivan Bank Minor Savings Account 4.00% - 7.00%
Ujjivan Bank Basic Savings Bank Deposit Account 4.00% - 7.00%
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Ujjivan Bank Bank Savings Accounts Interest Rate

Ujjivan Small Finance Bank offers an interest rate ranging upto 7.00% on the minimum average balance maintained in the savings account. It calculates the interest rate on savings bank accounts on a daily basis. However, the interest is paid to the account holders every quarter. With Ujjivan Small Finance Bank Savings Account youth and minors can get additional benefits on their Savings Account. Ujjivan Small Finance Bank also offers attractive benefits like mobile and internet banking services, free Debit Card and customised savings account depending on different customer profiles.

Features and Benefits

Ujjivan Small Finance Bank Savings Account helps you to save money by providing interest on your idle money deposited in the savings accounts. The rate of interest on Ujjivan Small Finance Bank Savings Account varies as per the Savings Account product. Some of the key features and benefits of Ujjivan Small Finance Bank savings account are:

  • It offers interest rates upto 7.00% p.a. You can easily access Ujjivan Small Finance Bank Savings Account anywhere through a large network of branches and ATMs .
  • If you want to transfer funds from Ujjivan Small Finance Bank Savings account to any other bank account, you can do it through modes such as RTGS , IMPS, NEFT and UPI facilities.
  • Ujjivan Small Finance Bank personalized account number and cheque book enhances security and ensures your money is safe.
  • You can get SMS Alerts and e-statement facilities with Ujjivan Small Finance Bank Savings Account.
  • With the Auto Sweep Facility of Ujjivan Small Finance Bank, your account can be linked to a Multi Option Deposit MOD account.

Ujjivan Bank Savings Account Rates

Saving Account Interest Rate Minimum Balance
Ujjivan Bank Digital Savings Account 4.00% - 7.00% N.A
Ujjivan Bank Regular Savings Account 4.00% - 7.00% N.A
Ujjivan Bank Privilege Savings Account 4.00% - 7.00% N.A
Ujjivan Bank Senior Citizen Savings Account 4.00% - 7.00% N.A
Ujjivan Bank Minor Savings Account 4.00% - 7.00% N.A
Ujjivan Bank Basic Savings Bank Deposit Account 4.00% - 7.00% N.A

Eligibility & Documentation Required for Opening Savings Account in Ujjivan Small Finance Bank

To open a savings account in Ujjivan Small Finance Bank, you need to fulfill the following eligibility criteria:

  • You need to have valid KYC Documents.
  • You can open a savings account singly or jointly.

Documents Required

You can open a savings account with prescribed application form and minimum KYC documents, which are mentioned below:

  • Application Form with attested photographs
  • Proof of identity- Passport, Voter ID card, PAN Card, Govt./Defence ID card, Driving Licence etc.
  • Proof of current address- Credit Card Statement, Salary slip, Electricity Bill/Telephone Bill, ration card etc.

How is Ujjivan Small Finance Bank Savings Account Interest Rate Calculated?

As per the RBI mandate, Ujjivan Small Finance Bank calculates saving account rate on average balances in the account on a daily basis. The interest can however be paid monthly, annually or quarterly. The following formula is used by Ujjivan Small Finance Bank to calculate interest on Savings Bank Account on the basis of daily balance in the account

Interest = Amount (Daily balance)*(No of days)* Interest/Days in the year.

Compare Savings Account Interest Rates of All Banks

Ujjivan Bank Savings Account Products

  • Ujjivan Bank Digital Savings Account : Ujjivan Small Finance Bank offers interest rates ranging between 4.00% to 7.00% on Ujjivan Bank Digital Savings Account.You can open a Ujjivan Bank Digital Savings Account in Ujjivan Small Finance Bank by depositing amount as minimum balance.
  • Ujjivan Bank Regular Savings Account : If you have deposited your excess funds in a Ujjivan Bank Regular Savings Account, you can get interest at 4.00% to 7.00% on your account. This account can be opened by anyone with a minimum age of 18 Years.
  • Ujjivan Bank Privilege Savings Account : Ujjivan Small Finance Bank provides interest rates ranging between 4.00% to 7.00% on Ujjivan Bank Privilege Savings Account . The minimum balance requirement to open this account is .
  • Ujjivan Bank Senior Citizen Savings Account : You can get interest at 4.00% and 7.00% respectively on Ujjivan Bank Senior Citizen Savings Account in Ujjivan Small Finance Bank. The account can be opened in Ujjivan Small Finance Bank by depositing amount.The debit card available for this account are Rupay Classic).
  • Ujjivan Bank Minor Savings Account : If you have deposited your excess funds in a Ujjivan Bank Minor Savings Account, you can get interest at 4.00% to 7.00% on your account.
  • Ujjivan Bank Basic Savings Bank Deposit Account : You can get interest at 4.00% to 7.00% in Ujjivan Bank Basic Savings Bank Deposit Account . This account can be opened in Ujjivan Small Finance Bank by depositing a minimum amount of after an age of 18 Years.

FAQs

How much interest is charged by Ujjivan Small Finance Bank on Savings Account?

As per the current rates, Ujjivan Small Finance Bank offers maximum interest rate of 7.00% on Savings Account. Ujjivan Small Finance Bank provides this interest on the minimum balance maintenance of . The interest rate may however vary across the Ujjivan Small Finance Bank savings account product.

What is the minimum amount required for opening Savings Account in Ujjivan Small Finance Bank?

The minimum amount required for opening a Savings Account in Ujjivan Small Finance Bank is .

What are the balance non - maintenance Charges on Ujjivan Small Finance Bank Savings Account?

The Balance Non Maintenance Charges on Savings Account by Ujjivan Small Finance Bank are NIL.The minimum balance requirement in Ujjivan Small Finance Bank savings account is .

What are the Ujjivan Small Finance Bank ATM Transaction charges on Savings Account?

Ujjivan Small Finance Bankcharges ATM Transaction on Savings Account are 6 free transactions and after that Rs. 20 for per financial transaction and Rs. 10 for per non-financial transaction .This charge may further depend upon the savings account product of Ujjivan Small Finance Bank and the debit card types offered with the bank.

How does Ujjivan Small Finance Bank calculate interest charged on Savings Account?

Interest on Savings Account is calculated on Quarterly basis. The following formula is used by Ujjivan Small Finance Bank to calculate interest on Savings Account.

Monthly interest=Amount (Daily balance)*(No of days)* Interest/Days in the year

Does Ujjivan Small Finance Bank offer Debit Card to the account holder?

Yes, Ujjivan Small Finance Bank offer Debit Cards to the account holders differing according to the product. Some of the popular savings account products of Ujjivan Small Finance Bank with the type of Debit Card offered are listed in the table below.

Ujjivan Bank Digital Savings AccountRupay Classic
Ujjivan Bank Regular Savings AccountRupay Classic
Ujjivan Bank Privilege Savings Account Rupay Classic
Ujjivan Bank Senior Citizen Savings AccountRupay Classic
Ujjivan Bank Minor Savings AccountRupay Classic
Ujjivan Bank Basic Savings Bank Deposit Account NA

What is the withdrawal limit of the account?

You can withdraw money from your savings account for a maximum Rs. 25,000 times in a month. Withdrawals over and above this limit may impose charges and may lead to deductions from your savings account.The withdrawal limit offered in Ujjivan Small Finance Bank is Rs. 25,000

What is the eligibility criteria to open a savings account in Ujjivan Small Finance Bank?

To open a savings account in Ujjivan Small Finance Bank you need to fulfill the following eligibility criteria:

  • Indian resident of 18 years of age and above
  • You must have your basic KYC done

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Ujjivan Bank News - Dec 2021
  • 2021-06-16 : Ujjivan Small Finance Bank collaborates with MoEngage
    Ujjivan Small Finance Bank has collaborated with customer engagement platform MoEngage to provide digital banking services in remote areas of the country. The aim is to build a wide presence of the bank with customers in the unserved regions through digital services.
  • 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.
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