Ujjivan Small Finance Bank has recently announced a revision in its Fixed Deposit (FDs) interest rates, offering attractive rates to both regular customers and senior citizens. With the aim of strengthening its deposit base and providing competitive returns to investors, the bank has set new benchmarks in the banking sector with its revised rates.
For regular customers, Ujjivan Small Finance Bank is now offering an interest rate of 8.50% for a 15-month FD, while senior citizens can avail themselves of an even higher rate of 9%. These rates are among the highest in the banking industry, reflecting the bank’s commitment to providing value and competitive returns to its customers.
In addition to the standard FD rates, Ujjivan Small Finance Bank also offers a special rate for Platina FDs, providing an additional interest rate of 0.20%. These rates apply to deposits ranging from Rs. 1 crore to below Rs. 2 crores, catering to high-net-worth individuals seeking to maximize their returns on larger deposits.
One of the notable aspects of this rate revision is the convenience it offers to customers. Ujjivan Small Finance Bank now allows customers to open fixed deposits directly through its official website, streamlining the process and making it more accessible to a wider range of investors.
Mr. Ittira Davis, Managing Director and Chief Executive Officer of Ujjivan SFB, expressed his satisfaction with the rate revision, stating, “We are pleased to announce the revision in fixed deposit interest rates for our customers seeking a higher interest rate for the short-term tenure. Our primary objective is to create a stronger deposit base that aligns with our overall strategy, reinforcing our position as the leading retail mass market bank.”
The rate adjustments came into effect from March 7, 2024, impacting Regular Customers, NRO, and NRE accounts. The Platina FDs, with their additional interest rate benefit, are designed to attract larger deposits and offer enhanced returns to discerning investors.
Furthermore, Ujjivan Small Finance Bank provides flexibility in interest payout options, allowing customers to choose between monthly, quarterly, and at-maturity payouts. For investors looking to save on taxes, the Tax Saver Fixed Deposits come with a five-year lock-in period, providing both security and tax benefits.
With these latest rate increases on FDs, Ujjivan Small Finance Bank solidifies its position among banks offering the highest Interest Rates on Term Deposits. This move not only benefits investors seeking competitive returns but also reflects the bank’s proactive approach to meeting the evolving needs of its customers in an increasingly competitive financial landscape.
For more information or queries regarding these revised FD rates, interested individuals can reach out to Saumya Gairola, whose contact details are provided below. Ujjivan Small Finance Bank remains committed to providing innovative financial solutions and delivering value to its customers through transparent and customer-centric offerings.
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