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Home » Banking & Financials » Ujjivan Small Finance Bank raises Term Deposit interest rates, offers up to 7.35% for senior citizens
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Ujjivan Small Finance Bank raises Term Deposit interest rates, offers up to 7.35% for senior citizens

For 19 months, 1 day to 24 months tenure, the interest rate is as high as 7.35%, while for 12 months tenure, the bank is now offering 7.25%.

December 10, 2021 5:07 IST | India Infoline News Service
Ujjivan Small Finance Bank has raised the interest rates on their term deposits. For the general citizen, 19 months, one day to 24 months tenure, the bank will now offer an interest rate of 6.6%, and for 12 months tenure, the interest rates rise to 6.5%.

Ujjivan SFB has announced an additional 75 basis points for senior citizens across all tenures. For 19 months, 1 day to 24 months tenure, the interest rate is as high as 7.35%, while for 12 months tenure, the bank is now offering 7.25%, the bank said in the press note.

The move is aimed at mobilising deposits among existing and new customers.

Comparison of old and revised interest rates; for Fixed Deposits below Rs2cr across various tenures.

Highlights:
  • New interest rates are applicable on fixed deposits of up to ₹2 crores across various tenures
  • An additional 75 basis points for senior citizens
  • Apart from premature closure and partial withdrawal facility, Ujjivan SFB allows quarterly, half-yearly, annually, and at maturity interest pay-out options

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