Utkarsh Small Finance Bank is considered to be one of the most reliable banks in India, especially for recognition by the RBI. As of current status, the Utkarsh Small Finance Bank FD interest rates provide exciting FD rates of 4.00% to 8.25% per annum to general citizens. For senior citizens, the rates are 4.60% to 8.85% on tenures that range for a period of five years.
Utkarsh Small Finance Bank being a recognised bank under the provision of the RBI makes its investors eligible for deposit insurance facilities that the DICGC provides. The deposit insurance covers assured growing deposits up to Rs. 5 lakhs made by each investor, including their savings, deposits, and current plus recurring deposits.
Utkarsh Small Finance Bank Interest Rates on Domestic Fixed Deposits less than Rs.2 crores
|Term||General Citizen (p.a.)||Senior Citizen (p.a.)|
|7 Days to 45 Days||4.00%||4.60%|
|46 Days to 90 Days||4.75%||5.35%|
|91 Days to 180 Days||5.50%||6.10%|
|181 Days to 364 Days||6.50%||7.10%|
|365 Days to 699 Days||7.75%||8.35%|
|700 Days to 999 Days||8.00%||8.60%|
|1000 Days to 1500 Days||8.25%||8.85%|
|1501 Days to up to 5 Years||7.50%||8.10%|
|Above 5 Years to 10 Years||7.00%||7.60%|
Utkarsh Small Finance Bank has certain eligibility criteria that customers must make note of before deciding to appeal for the Utkarsh FD rates for their FD account. Those that fall under the following categories are eligible to open an account:
· Citizens of India
· Any Individual
· Body of Individuals
· Hindu Undivided Family
· Companies, Societies or Trusts
Some mandatory documents are required for all applicants to provide during the opening of their FD account in Utkarsh Small Finance Bank. These documents are:
· PAN and KYC documents
· Passport size photograph
Apart from these, the documents required for the mentioned applicants to access Utkarsh SFB FD rates are listed in the table below:
|HUF||Declaration of HUF|
|Trust||Copies of the Trust Deed Copies of the Registration Certificate Copies of the Resolution of the Trustees|
|Partnership Firm||Partnership Deed Letter from Partners’ Agreement|
|Clubs and Associations||By-Laws of the Association Board Resolution|
|Company||Certificate of Incorporation Memorandum Articles of Association Board Resolution ID Proofs|
The Utkarsh Bank FD interest rates are very convenient for all those who wish to make a good investment decision. The Fixed Deposit interest rates are listed below:
|Term||General Citizen (p.a.)|
|7 Days to 45 Days||4.00%|
|46 Days to 90 Days||4.75%|
|91 Days to 180 Days||5.50%|
|181 Days to 364 Days||6.50%|
|365 Days to 699 Days||7.75%|
|700 Days to 999 Days||8.00%|
|1000 Days to 1500 Days||8.25%|
|1501 Days to up to 5 Years||7.50%|
|Above 5 Years to 10 Years||7.00%|
· Early withdrawal of Fixed Deposit is permitted only in the event of the account holder’s death or under an order of a supervisory or legislative body.
· After subtracting the punitive rate (1%) from the relevant rate, interest will be paid. The relevant rate would be the rate of interest effective during the period of investment for which the FD stayed with the bank, whichever is lower.
· The penalty for early withdrawal does not apply if the transaction is completed within a period of 7 days.
The nomination options open to Utkarsh Small Finance Bank FD investors are shown by the following points:
· Safe deposit of items and locker accounts are examples of deposit accounts at the bank.
· All individual(s) and single proprietor accounts require a nomination.
· The depositor may choose to have the nominee’s name printed on the passbook and term deposit receipt; this option is free of charge for individual and single proprietor accounts.
· A witness must testify to the account holder’s thumbprint on the nomination form.
· On renewal of a term deposit, the nominee continues to serve as a trustee for the legal heirs in the case of the depositor’s death and gets the remaining sum in the account.
· Only persons are eligible for nomination.
· In joint deposit accounts, the nominee’s rights do not become effective until all depositors have passed away.
· Changing the title of the account due to additions or deletions automatically cancels the existing nomination, requiring a new nomination to take advantage of the facility.
· The depositor may change the nomination as many times as necessary before the deposit matures for term deposits and during the account’s lifetime for others.
Utkarsh Small Finance Bank Fixed Deposit Rates FAQ’s :-
The amount invested, term, Utkarsh Bank FD rates for senior citizens, frequency of interest calculation, and taxation are just a few of the variables that affect the money you may earn on your deposit. Using the Utkarsh Bank FD calculator, you can determine the returns on your investment and make your banking experience fruitful.
Different banks provide various fixed deposit account interest rates. As for Utkarsh Bank FD rates, you must know them beforehand so you do not invest in something you cannot back out of later. The first step for you would be to choose a local bank location. After you collect the form, use black ink to complete the form for opening an account in all capitals. If you overwrite anything on the account opening form, please countersign. You have to use the nomination option next. Take your original paperwork for KYC with you so that they may be verified. If they differ, submit address verification documentation for your mailing address and permanent residence.
You have two options to check your fixed deposit balance in Utkarsh Small Finance Bank: online and offline. Log in to the Utkarsh Small Finance Bank Internet banking portal for online mode. Alternatively, visit the nearest Utkarsh Small Finance Bank branch to update your passbook for FD balance enquiry.