Ujjivan Small Finance Bank raises FD rates up to 8.75%, check latest rates here
The interest rates have been hiked by the Ujjivan Small Finance Bank on some a range of tenures. The bank is now giving up to 8 percent interest to general individuals and 8.75 percent to senior citizens
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Many banks have been continuously raising their interest rates on fixed deposits (FDs) since May this year after the Reserve Bank of India (RBI) started increasing the repo rate. The latest hike in interest rates on term deposits by the Ujjivan Small Finance Bank places it among the lenders that are giving the highest interest rates on fixed deposits. The interest rates have been hiked by the Ujjivan Small Finance Bank on some a range of tenures. The bank is now giving up to 8 percent interest to general individuals and 8.75 percent to senior citizens. The new rates came into effect from 5 November.
Check the rates
Regular individuals are going to get a maximum of 8 percent interest on FDs with a maturity period of 560 days. Senior citizens can earn a maximum of 8.75 percent interest on deposits maturing in 560 days. The Ujjivan Small Finance Bank Platina FD offers an additional rate of 0.2 percent. These rates are applicable to FDs above Rs 15 lakh and less than Rs 2 crore.
The Platina FD is a non-callable scheme, which means that the plan doesn’t have premature withdrawal facility. Ujjivan SFB has options of monthly, quarterly and at maturity interest pay-out. The Tax Saver Fixed Deposits has a five-year lock-in period.
Other banks offering a high interest rate on FDs
Utkarsh Small Finance Bank
The bank is giving senior citizens a maximum interest rate of 8.75 percent on deposits with a maturity period of 700 days. Regular citizens can earn a return of 8 percent for the same period.
Jana Small Finance Bank
It is offering senior individuals a maximum of 8.5 percent interest on deposits maturing in two to three years, and providing a rate of 7.55 percent to general individuals for the same period.
Fincare Small Finance Bank
This bank now gives a maximum interest rate of 8.5 percent to senior citizens on deposits maturing in 1000 days, while providing 8 percent rate to the regular citizens on FDs with the same maturity period.
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