Ujjivan Small Finance Bank FD Interest Rates

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.

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.

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.

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