The Ujjivan Small Finance Bank is one of the most notable scheduled banks recognized by the RBI. The interest rates are 3.75%-8.25% per annum for the general public, and the Ujjivan bank FD rate for senior citizens is 4.25-8.75% per annum. Also, the tenures of these interest rates range from 7 days to 10 years. The Ujjivan bank interest rate on tax-saving FDs is 7.20% p.a for the general public, and it is 7.80% p.a for the senior citizen’s category for a tenure of 5 years. The bank also provides fixed deposits for NRI citizens, known as NRE.
The table below shows the various Ujjivan bank FD rates, and these Ujjivan FD rates vary from time to time depending on the tenure:
Highest slab rate | 8.25% (for 1 year & 80 weeks) |
For 1 year | 8.25% |
2 years | 7.50% |
3 years | 7.20% |
4 years | 7.20% |
5 years | 7.20% |
Tax saving FD | 7.20% |
What is the eligible criteria to create a USF bank’s FD account?
Certain eligibility criteria need to be followed by the people who are willing to create USF bank’s FD account. Some of the eligibility criteria are as follows:
- The bank holders must be residents of Indian origin.
- They can be non-residential Indians or NRIs.
- They must also belong to Hindu undivided families or HUFs.
- They must be part of farms, clubs, and partnership firms.
- They must run sole-proprietorship businesses.
- They must own public or private companies.
Moreover, there is no age limit to open this type of FD account. Even a minor can open an account but there must be a legally appointed guardian against their name.
How to create a fixed deposit account with USF Bank?
To create a fixed deposit account for USF Bank, one must follow the step-by-step guide as mentioned below:
- Personally visit the branch: To open an account in USF Bank, one must first visit the branch.
- Fill up the account opening form: As a part of the second step, fill up all the necessary details in the fixed deposit account opening form.
- Fill up the fixed deposit tenure: Different banks offer different kinds of tenure. They may range from 7 days to 10 years. So according to the financial goals and needs of the customers, they can choose the required fixed deposit tenure.
- Attach a cheque for deposit: Attach a cheque worth the amount you want to invest.
- Attach required documents: Required and necessary KYC documents like PAN, proof of address, and proof of identity must also be attached.
- Verification of form: The fixed deposit account opening form and other important documents will be verified by the banker. After that, the banker will provide the customer with an acknowledgement slip of the FD account opening form. This is the last step, after which the fixed deposit account will successfully be opened.
What are Ujjivan Small Finance Bank FD interest rates for deposits < 2 crores?
The Ujjivan Small Finance Bank FD interest rates for Platina Deposits- Domestic and NR Deposits less than 2 crores are as follows:
Tenure | Interest rates per annum (for > 2 crores) |
12 months | 8.45% |
12 months 1 day to 13 months | 6.70% |
13 months 1 day to 599 days | 8.20% |
80 weeks | 8.45% |
561 days to 989 days | 7.70% |
990 days | 7.95% |
991 days to 60 months | 7.40% |
Ujjivan Small Finance Bank Interest Rates for Domestic, NRO, and Sampoorna Nidhi Fixed Deposits
The interest rates for domestic or NRO fixed deposits are as follows:
Tenure | Regular citizens | Senior citizens |
7 days to 29 days | 3.75% | 4.25% |
30 days to 89 days | 4.25% | 4.75% |
90 days to 179 days | 4.75% | 5.25% |
6 months to 9 months | 5.50% | 6.00% |
9 months 1 day to 12 months | 6.50% | 7.00% |
12 months | 8.25% | 8.75% |
12 months 1 day to 13 months | 6.50% | 7.00% |
Ujjivan Small Finance Bank Interest Rates for NRE Term Deposits
Tenure | Interest rates per annum |
12 months | 8.25 |
12 months 1 day to 13 months | 6.50 |
13 months 1 day to 599 days | 8.00 |
80 weeks | 8.25 |
561 days to 989 days | 7.50 |
990 days | 7.75 |
991 days to 60 months | 7.20 |
60 months 1 day to 120 months | 6.50 |
What happens on premature withdrawal of funds?
Fixed deposit accounts come with an option of premature withdrawal of funds. This option allows the account holders to close the account and receive the money even before the maturity period. However, if someone closes the account before the maturity period, then they will have to pay some kind of penalty. This penalty is made to be paid by the account holders so that there is no frequent withdrawal of cash and also to promote savings.
The penalty charges are of various ranges. It can start from 0.5% and go up to 1%. But these penalty charges are not charged by all banks. Certain banks let the account holders withdraw the money before the penalty period without paying any penalty charges.
What do you need to know about the payment of interest?
There are certain things that the account holders must need to know about the payment of interest.
- Interests are paid on a monthly/quarterly/half yearly or annual basis.
- The interest might be paid as a lump sum at the time of maturity or during every half year or every year.
- There might be special Ujjivan FD interest rates for senior citizens or staff and employees of the bank.
- Change of interest will not reflect in any way in the existing deposits.
Ujjivan Small Finance Bank FD Rates FAQ’s :-
Yes, the Ujjivan SFB FD rates are different for the general public and also for senior citizens.
The Ujjivan small finance bank calculator helps to know the outcome of a particular investment beforehand. Thus the use of the Ujjivan FD calculator is highly recommended.
The highest rate of interest offered by Ujjivan bank FD is 8.25%, and it is offered for a tenure of 1 year and 80 weeks.
Yes, online application for regular fixed deposit and tax saver fixed deposit is available.
A minimum amount of Rs. 1000 is required to open an FD in USF Bank.