Ujjivan Small Finance Bank Increases Interest Rate on Some Fixed Deposits; to Offer up to 8 percent and 8.75 percent for Senior Citizens

Highlights: 

• Highest interest rate for regular customers would be 8% for 80 weeks (560 days)

• Highest interest rate for Senior citizens would be 8.75% for 80 weeks (560 days)

• Platina FD would get an additional interest rate of 0.20%. These are applicable for deposits above Rs. 15 Lakhs and below Rs. 2 Crores only.

Mr. Ittira Davis, Managing Director and Chief Executive Officer, Ujjivan SFB, commented, "The FD rate increase is a reinforcement of our commitment to offer our customers the best products. This also is in line with our retail strategy of building granular deposits and the evolving macro-economic situation.”

New rates are effective from November 5, 2022

Customers can invest a minimum of above Rs. 15 lakhs to below Rs. 2 Crores under the plan. The Platina FD is non-callable, i.e. partial and premature withdrawal facility is not available in this scheme.

Ujjivan SFB allows monthly, quarterly and at maturity interest pay-out options. The Tax Saver Fixed Deposits comes with five years lock-in period.

The latest round of rate increases on FDs place Ujjivan SFB among the banks offering the highest Interest Rates on the Term Deposits.

About Ujjivan Small Finance Bank Limited 

Ujjivan Small Finance Bank Limited is one of the leading small finance banks.

Ujjivan Small Finance Bank began operations in February 2017 and currently serves 70+ lakh customers through its 590 branches and 16,600+ employees. The bank remains committed to serving unserved and underserved segments through financial and digital inclusion as a mass-market bank. Ujjivan is a one-stop destination for financial services, offering a personalised customer experience. The strengthened digital interfaces across regions and languages have empowered Ujjivan customers to seek timely and easy access to finance at all times.