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Ujjivan Small Finance Bank FD Interest Rates

3.05% - 5.80%
Interest rates
3 months - 10 years
Time Period
1000 - no limit
Min. - Max amount
QUARTERLY
Compounding

About Ujjivan Small Finance Bank FD

Ujjivan Small Finance Bank Limited is a Bangalore-based Indian small finance bank that began operations on February 1, 2017. Ujjivan Financial Services owns 80 percent of the bank. Ujjivan Small Finance Bank is authorized to do small finance bank operations under Section 22 (1) of the Banking Regulation Act, 1949, and acquired Scheduled Bank status from the Reserve Bank of India in August 2017.

Ujjivan Small Finance Bank provides a variety of fixed deposit programs with competitive interest rates ranging from 3.05 percent per annum to 6.75 percent per annum for terms ranging from one week to ten years. Senior people are eligible for an extra 0.50 percent interest rate from the bank.

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Started On2017
Head QuartersBengaluru
CRISIL RatingNA
CEONitin Chugh
Listed on exchange asUjjivan Small Finance Bank Limited
ICRA RatingNA

Ujjivan Small Finance Bank FD Rates 2022

TenureRegular customersSenior citizens

Features Benefits of Ujjivan Small Finance FD

  • Ujjivan Small Finance Bank Deposit Amount FDs can be opened with as little as Rs. 1,000 and as much as No limit.
  • FD Tenure: Can range from 7 days to 10 years.
  • Interest Rates: 3.05 percent per annum to 6.75 percent per annum
  • Senior citizens, those who are over the age of 50 can get  3.55 percent p.a. to 7.30 percent p.a. 

Types of Ujjivan Small Finance Bank FD Schemes

Tax Saver FD

USFB is expanding its tax-saving fixed deposit plan to assist customers to save significant income tax. Customers can save up to Rs. 1.5 lakh each fiscal year (u/s 80C) under this plan. The following are more details regarding the scheme:

Scheme Details

  • 5 years tenure (lock-in).
  • The deposit ranges from Rs. 1,000 to Rs. 1.5 lakh.
  • Interest is calculated on a quarterly basis.
  • Discounted interest rates for monthly payments.
  • Senior citizens pay an additional 0.5.
  • Premature Withdrawal: Not permitted (unless in the event of the initial deposit holder's death or a mandatory legal notification).
  • A maximum of Rs. 1.5 lakh in FD investment can be claimed for tax exemption under Section 80C.
  • Individuals and HUFs who are residents exclusively.
  • Interest is paid on a monthly/quarterly basis or at maturity.

Regular FD

Ujjivan Bank is a bank in Ujjivan, India. Regular Fixed Deposit is a bank's regular program that is meant to meet clients' typical investing demands. The following are the specifics:

Scheme Details

  • Tenure ranges from 7 days to 10 years.
  • The minimum deposit is Rs. 1,000.
  • Interest Treatment: Annual interest is computed.
  • The following formula was used: Interest = Principal * Interest Rate * (tenure/365)
  • Discounted interest rates for the monthly interest payout option (standard rate minus 0.05 percent ).
  • Senior Citizen Rates: 0.5 percent more than normal Ujjivan Bank FD rates.
  • Can be opened in increments of Rs. 100. (e.g. Rs. 1100, Rs. 1500, Rs. 10,000).
  • Interest can be paid on a monthly, quarterly, semi-annual, or yearly basis.
  • In the reinvestment option, interest is paid on maturity (cumulative).
  • Can be accessed both online and offline.

Ujjivan Bank Sampoorna Nidhi

The Ujjivan Bank Sampoorna Nidhi fixed deposit program is intended to assist existing customers (who hold a savings or current account with USFB) to develop a corpus while receiving a consistent monthly cash inflow. The following are the scheme's features and benefits:

Scheme Details

  • Half a year, three years, four years, and five years.
  • The minimum deposit amount is Rs. 25,000. (in multiples of Rs. 1,000 thereafter; e.g. Rs. 26,000, Rs. 50,000).
  • Interest is calculated on a monthly basis using discount rates (Less than 0.05 percent ).
  • Senior citizens pay an additional 0.5 percent.
  • Premature Withdrawal: Available 6 months after account creation.
  • There is an option for auto-renewal.
  • FD that is connected to a Ujjivan Bank Savings or Current Account.
  • Interest is credited to the connected bank account on a monthly basis.
  • Can only be accessed when not connected to the internet.

Term wise Ujjivan Small Finance Bank FD Rates

Short-Term Deposits

Periods that begin from 7 days to 1 year or less than a year are known as short term fixed deposits, and their interest rates start from 3.05% to 5.20% depending on the number of days of the deposit for general customers, and from 3.55% to 5.70% for senior citizens.

Medium-Term Deposits

Medium-term fixed deposit tenures, that is, from 1 year to 5 years, withhold interest rates are 6.50%to 6.75% for general customers are 7.00% to 7.25% for senior citizens according to the period of lock-in.

Long-Term Deposits

 Long-term FD goes from 5 years to 10 years, and the interest rate is 5.80% for general customers and 6.30% for senior citizens.

Ujjivan Small Finance vs Other Banks' FD Rates

NameTenureInterest rate
1
2
3
4
5

How to invest in Ujjivan Small Finance Bank FD?

An Ujjivan Small Finance Bank FD account can be opened through online and offline modes-

1) Online Method

  • Visit the official website of Ujjivan Small Finance Bank.
  • Click on Explore Products, then on Deposits, and next on Fixed Deposits/ Tax Saver Fixed Deposits/ Sampoorna Nidhi.
  • On the redirected page, click on ‘Apply Now'.
  • Fill up the displayed inquiry form.
  • Submit the form by clicking on ‘Apply Now'.
  • An OTP will be received on the mobile number mentioned in the form. Enter the OTP and click on ‘Confirm’.
  • A pop-up will get displayed indicating the submission of the application request. Further, a bank’s representative will contact for the next proceedings.

2) Offline Method

For opening a Ujjivan Small Finance Bank FD, one can visit the nearest branch of Ujjivan Small Finance Bank. A bank representative will guide you on the FD application process.

Eligibility for Ujjivan Small Finance FD Account

Individuals or entities satisfying the following criteria can opt for a fixed deposit in Ujjivan Small Finance Bank –

  • Resident individual
  • Limited companies
  • HUF

Documents to Open Ujjivan Small Finance FD

The following documents have to be furnished for opening an Ujjivan Small Finance Bank FD

  • Aadhar Card
  • Passport size photographs
  • Form 60 (if PAN isn’t available)
  • PAN Card
  • Address proof (Passport, Utility bills, Driving License)

FAQs

What interest payment choices are available in Ujjivan Small Finance Bank's fixed deposit accounts?

Ujjivan Small Finance Bank offers monthly, quarterly, half-annual, yearly, and at maturity interest payout choices for its FD plans.

Does Ujjivan Small Finance Bank give elderly people a higher interest rate for all tenures?

Yes, Ujjivan Small Finance Bank provides an extra interest rate of 0.50 percent per annum to senior citizens across all deposit tenures.

What is the minimum deposit amount for a Ujjivan Small Finance Bank FD?

Ujjivan Finance Bank requires a minimum deposit of Rs.1,000 to start an FD account.

 Can I apply for Ujjivan Bank fixed deposits online?

Yes. Online, regular fixed deposits and Tax Saver fixed deposits can be opened.

 What happens if the bank fails? Is it risky to put money into Ujjivan Bank's fixed deposits?

Ujjivan Small Finance Bank is one of the Reserve Bank of India's Scheduled Banks, and it has a stable credit rating from different credit rating agencies. Deposits placed with the bank are also insured for Rs. 5 lakh by the Deposit Insurance Credit Guarantee Corporation. Customers will receive Rs. 5 lakh in compensation if the bank fails.

 Is there Premature withdrawal available on the FD?

Ujjivan Small Finance Bank (USFB) allows FD investors to withdraw their funds before the FD matures. The following points are notable:

  • Regular deposits are eligible for partial withdrawal and premature closure.
  • Premature withdrawal from a tax saver FD is not permitted (partial or full).
  • Premature withdrawal is permitted under the Sampoorna Nidhi FD Scheme after 6 months from the date of booking.
  • Withdrawals made within 7 days of the booking date will incur no interest.
  • Premature withdrawal is available for all deposits up to Rs. 15 lakh.
  • The bank may not allow deposits worth more than Rs. 15 lakh to be withdrawn prematurely (however, this information shall be imparted to the depositor at the time of booking).
  • Premature closure or partial withdrawals made before the completion of 6 months from the date of booking are subject to a 1% penalty.
Calculate Ujjivan Small Finance Bank FD Interest
Investment Amount
₹25,000.00
Time Period
9 Months
1 Year
2 Years
3 Years
Maturity Amount
Ujjivan Small Finance Bank
@6.5% p.a
Get higher interest rates
online upto 0%
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