Ujjivan Small Finance Bank
Ujjivan Bank
6th August 2020 – RBI keeps Repo Rate unchanged at 4%
| Product | Interest Rate |
|---|---|
| Fixed Deposit | 3.50% to 7.45% |
| Recurring Deposit | 6.25% to 8.00% |
| Savings Account | 0.00% to 6.50% |
| MCLR | 15.90% to 16.50% |
Ujjivan Bank
Ujjivan Small Finance Bank was set as a small finance bank as per the regulations made in the Union Budget of 2014-2015. In adherence to how a Small Finance Bank should function, Ujjivan Small Finance Bank is regulated by the Reserve Bank of India under the Banking regulations Act of 1949. The Bank was set to fulfil the needs of the population that has been unbanked and untouched by the commercial banking sector. The functionalities of the Small Finance Banks have been exclusively designed to fulfil the financial needs of the underprivileged masses, by providing basic activities like deposits and lending. Ujjivan Small Finance Bank provides various banking services to its customers like deposits, locker facilities, Insurance facilities, loans, and Internet Banking, among others.
About Ujjivan Small Finance Bank
The current CEO of Ujjivan Small Finance Bank is Mr. Nitin Chugh. Further, the registered address of the Ujjivan Bank is Grape Garden, No. 27, 3rd ‘A’ Cross, 18th Main, 6th Block, Koramangala, Bengaluru - 560 095, Karnataka.. In case of grievances, customers can contact the Bank’s compliance officer, Mr. Chanchal Kumar by mailing him at customercare@ujjivan.com or by calling on 080-40712121. In addition to that, to raise any further queries, the compliance officer can be reached out at Grape Garden, No. 27, 3rd ‘A’ Cross, 18th Main, 6th Block, Koramangala, Bengaluru - 560 095, Karnataka.
Ujjivan Small Finance Bank Product Details
Savings and Current Accounts
- Ujjivan Small Finance Bank provides deposit facilities to its customers through savings and current account facilities.
- The Bank provides various zero balance savings accounts and instant account opening facilities through its online portal.
- The interest rate on Ujjivan Bank savings account begins from 0.00%
- Ujjivan Bank also provides specialized current accounts to carry on business transactions for various sections like startups, retailers, wholesalers, transporters, and travel agents, among others.
Ujjivan Bank Debit Cards
- Ujjivan Small Finance Bank offers a variety of debit cards to its customers that range from Rupay to Visa Debit cards.
- These cards are designed to offer privileges to customers on transactions involving shopping, entertainment, and travel, and allows cash withdrawal at all banks ATMs.
Ujjivan Bank Deposits
Ujjivan Small Finance Bank Fixed Deposit
- Ujjivan Small Finance Bank offers high fixed deposit rates upto 7.45%.
- The bank provides higher interests on FDs than commercial banks.
- Depositors can open a fixed deposit account with Ujjivan Small Finance Bank with a minimum deposit of Rs. 1000 for a tenure of 7 days to 10 years.
Ujjivan Small Finance Bank Recurring Deposit
- Ujjivan Small Finance Bank provides recurring deposits facility, wherein you can regularly invest your money and can earn interests. You can earn high returns upto 8.00% on Ujjivan Bank RD account. Check detailed Ujjivan Bank RD interest rates here.
- Ujjivan Bank RD can be opened with a minimum amount of Rs. 100 for a period ranging from 6 months to 120 months.
Ujjivan Small Finance Bank Loan
Ujjivan Bank offers both secured and unsecured loans to its customers, like Home loans, personal loans, car loans, and business loans at affordable interest rates. Ujjivan Small Finance Bank is accustomed to lend more than 75% of its Adjusted Net Credit for the priority sector. This includes lending funds to poor people for housing, lending to farmers for agriculture and allied activities, lending to micro and small industries, and lending to weaker sections of the society.
| Loan products | Feature |
|---|---|
| Personal Loan | Unsecured loan offered on the basis of credit score to meet one’s personal expense. |
| Car Loan | Secured loan offered for the purchase of a car, where the car acts as collateral. |
| Home Loan | Secured loan offered for the purchase, renovation or construction of a house. |
| Gold Loan | A secured loan where the borrower can mortgage their gold to borrow funds against it. |
| Business loan | Loans offered to business units for undertaking business activities like purchase of plant and machinery, purchase of equipment, to undertake construction or to meet day to day expenses. |
Compare Rates of Small Finance Banks
Ujjivan Bank Netbanking Registration and log in
To add more to the convenience of the customers, Ujjivan Small Finance Bank offers net banking facility to the customers. The bank’s digital banking platform is hassle-free and easy to use. All customers with savings or current accounts can have access to Ujjivan Small Finance Bank net banking or mobile banking platform. One can register for Ujjivan Small Finance Bank net banking by following the below-mentioned steps:
- Go to the homepage of Ujjivan Small Finance Bank net banking or visit the web portal of Ujjivan Small Finance Bank.
- On the home page, look out for the option ‘New user registration’ or a similar option.
- Proceed further, and enter details like bank account number, branch details, registered mobile number, and click on ‘Submit.’
- As you click on ‘submit’ a one time password is sent to the registered mobile number. Enter the OTP and click on ‘confirm.’
- Clicking on ‘confirm’ will create your temporary login details with a temporary username. Users can create their password.
- After creating the password login and creating your permanent username, and accept all terms and conditions.
Why Ujjivan Small Finance Bank?
The Ujjivan Small Finance Bank is a go-to-option when it comes to choosing the right bank for your banking needs because of the following reasons:
- Ujjivan Small Finance Bank is a retail-focused and customer-centric bank.
- Ujjivan Small Finance Bank offers a variety of loan products to fulfil the credit needs of different loan borrowers. These are a personal loan, car loan, home loan, gold loan, or business loan. The loans with Ujjivan Bank are offered with easier terms and conditions along with affordable interest rates.
- Ujjivan Small Finance Bank offers different type of investment options that are tailor-made for different types of investors. The Bank offers various Fixed deposits products such as Regular Fixed Deposits, Ujjivan Small Finance Bank Tax Saver Fixed Deposits. Apart from fixed deposits, the Bank also offers a recurring deposit facility.
- In addition, Ujjivan Small Finance Bank is a reliable and secure place to deal with when it comes to funding, as the bank is regulated directly by the RBI.
- Lastly, Ujjivan Bank offers easy and quick banking services, through its online banking portal; thus, customers can check their account balance, apply for a loan, can make a deposit, and can perform other banking functions, from the comfort of their home.
FAQs
✅Is Ujjivan Small Finance Bank safe?
Similar to commercial banks, Ujjivan Small Finance Bank is safe and secure as it is regularized by RBI.
✅Can Ujjivan Small Finance Bank accept deposits?
Ujjivan Small Finance Bank is a small finance bank that was set to provide banking activities to the underprivileged people. This bank conduct basic banking activities like deposits and lending.
✅Is Ujjivan Small Finance Bank approved by RBI?
Ujjivan Small Finance Bank is approved by RBI under the Banking regulations Act of 1949.
✅Is Ujjivan Small Finance Bank FD a safe option to invest?
Ujjivan Small Finance Bank provides fixed deposits investment facility to its customers. The Bank provides highest interest of 7.45% to its customers. The interest rate provided by Ujjivan Small Finance Bank is comparatively higher than any commercial bank. Also, the FDs are equally safe in this bank.
✅Can I take a loan from Ujjivan Small Finance Bank?
Yes, you can opt for a loan from Ujjivan Small Finance Bank. Ujjivan Bank provides loan products loans like home loan, personal loans and business loans, among others.
- 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. - 2020-04-20 : New MCLR for Ujjivan Small Finance Bank
Ujjivan Small Finance Bank revised its MCLR. The overnight, one-month and three months MCLR is 15.10%, 14.20% and 14.80%, respectively. The six-months MCLR rate stands at 15.10%. Lending rate for long tenors of one year, two years and three years is 15.20%, 15.40% and 16%, respectively. The revised rates are effective from 20 April 2020. - 2020-02-20 : Ujjivan Small Finance Bank revised its MCLR
Ujjivan Small Finance Bank changed its lending rates. The overnight and one-month MCLR is 15.80% and 15.70%. The lending rate for short tenors of three months and six months is 15.80% and 15.90%. Further, the MCLR for one-year, two years and three years is 16%, 16.20% and 16.50%, respectively. The revised rates are in effect from 20 February 2020. - 2020-01-20 : New MCLR for Ujjivan Bank
Ujjivan Bank cut its MCLR. The overnight, one-month, 3 months MCLR is 15.10%, 14.90% and 15%, respectively. The six-month MCLR rate stands at 15.10%. Lending rate for long tenors of one year, two years and three years is 15.60%, 16%, 16.20%, respectively. The revised rates are in effect from 20 January 2020 and will impact home loans and loans against property. - 2019-12-23 : Ujjivan Banks cuts MCLR rates
Ujjivan Bank has cut its Marginal Cost of Funds Based Lending Rate (MCLR) by up to 50 bps for December month. For 1 year, the MCLR stands at 15.50% as compared to 15.60% earlier. For overnight, the rate has been cut to 15.10% from 15.60% earlier. The revised standards have been in effect from December 20, 2019. The cut in MCLR will impact the interest rate of MCLR linked home loans.
