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Ujjivan Small Finance Bank Boosts Fixed Deposit Rates, Offering Up to 9% Interest


Ujjivan Small Finance Bank Boosts Fixed Deposit Rates, Offering Up to 9% Interest

Photo by Sajjad Hussain M from Burst

Ujjivan Small Finance Bank has announced a revision in its fixed deposit interest rates, introducing attractive offers for both regular customers and senior citizens. Effective March 7, 2024, the bank is set to provide substantial returns on fixed deposits, catering to the diverse needs of its clientele.

Regular customers can now enjoy an enticing interest rate of 8.50% for a tenure of 15 months, while senior citizens are entitled to a higher rate of 9.00% for the same duration. This move positions Ujjivan SFB as a frontrunner in offering competitive interest rates, aiming to bolster its deposit base and solidify its standing as a prominent retail mass market bank.

Additionally, the bank introduces the Platina FD scheme, offering an extra interest rate of 0.20% for deposits ranging from Rs. 1 crore to below Rs. 2 crores. These exclusive rates cater to discerning customers looking to maximize returns on their investments.

One of the noteworthy features of Ujjivan SFB’s fixed deposit offering is its flexibility in interest payout options, including monthly, quarterly, and at maturity. Moreover, the Tax Saver Fixed Deposits come with a five-year lock-in period, providing customers with tax-saving benefits while securing their investments.

Mr. Ittira Davis, Managing Director and Chief Executive Officer of Ujjivan Small Finance Bank, expressed delight in the rate revisions, emphasizing the bank’s commitment to providing superior value to its customers. He highlighted the strategic importance of nurturing a robust deposit base, aligning with the bank’s overarching objectives.

With these latest enhancements, Ujjivan Small Finance Bank emerges as a leading contender in the banking landscape, offering some of the most competitive interest rates on term deposits. Customers can now capitalize on these lucrative opportunities to maximize their savings and achieve their financial goals.


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