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Ujjivan Small Finance Bank Fixed Deposit

Updated 06 Dec 2023

Ujjivan Small Finance Bank started its banking operations on February 1, 2017. It is a Bangalore-based bank and is among the leading small finance banks in the country. The Bank is present all over India in 284 districts, 24 states and Union Territories as on September 30, 2021. The Bank operates and conducts its services under Section 22 (1) of the Banking Regulation Act 1949. 
 

Types of Ujjivan Small Finance Bank Fixed Deposit

  • Regular Fixed Deposits 
  • Tax Saver Fixed Deposits  
  • Digital Fixed Deposits  
  • Platina Fixed Deposit
  • Sampoorna Nidhi Fixed Deposits  
  • Sampoorna Lakshya Fixed Deposits
  • NRE Fixed Deposit
  • NRO Fixed Deposit 
     

Benefits of investing in Ujjivan Small Finance Bank Fixed Deposit

Premature withdrawal:  The period of the FD with Ujjivan Small Finance Bank ranges from 7 days to 10 years. The tenure cannot be changed once the investment starts. However, an investor can opt for premature withdrawal. 

Convenient: A savings account in Ujjivan Small Finance Bank allows to open fixed deposits easily and can be liquidated whenever required.

DICGC insurance: The amount invested with the bank is covered by DICGC for the total sum of ₹5 lakhs. 

Minimum amount: Fixed deposits with Ujjivan Small Finance Bank can be opened with a minimum investment of ₹1,000. 

Preference to senior citizens: Ujjivan Small Finance Bank FD gives a preference to FDs invested by senior citizens. Senior citizens get 0.5% more interest in comparison to regular citizens.   

Liberal payouts: Ujjivan Small Finance Bank FD provides options for monthly or quarterly interest payouts. This is beneficial for people seeking regular income.  

Tax benefits: Ujjivan Small Finance Bank’s Tax Saving FD offers deduction of up to ₹1.5 lakhs under Section 80C of the Income Tax Act of 1961.  

Auto-renewal option: The bank offers an auto-renewal option for their FDs. It means at the time of maturity of the FD, it gets renewed automatically.

Loan against FD: Ujjivan Small Finance Bank allows investors to take loans against their FDs. This can be done without breaking their FDs. 

Nomination facility: Depositors can nominate beneficiaries for their investments made in Ujjivan Small Finance Bank FDs. 
 

Features of Ujjivan Small Finance Bank Fixed Deposit

Ujjivan Small Finance Bank provides various Fixed Deposit options with attractive interest rates ranging from 3.75-8.25% per annum for regular citizens and 4.25-8.75% for senior citizens. The period of the FD ranges from 7 days to 10 years.

Regular Fixed Deposits

Below are some of the features of this FD:

  • The minimum amount of investment is ₹1,000. 
  • Regular FD of Ujjivan Small Finance Bank can be opened by visiting its branch or through Internet banking. 
  • Senior citizens get an additional 0.5% of interest over regular citizens
  • Liberal payouts can opt for on a monthly, yearly or half-yearly basis. 
  • Premature closure or withdrawal is allowed. 
  • Investment tenure ranges from 7 days to 10 years. 
  • It can be opened both online and offline
  • In the case of reinvestment, the interest is paid on maturity.
  • Based on the tenor, the interest rate ranges from 3.75% to 8.25% for the general public and 4.25% to 8.75% for senior citizens.


Tax Saver Fixed Deposits  

The following are the features of these FDs:

  • Investing in this FD helps the investor to avail tax deduction of ₹1.5 lakhs under section 80C of the Income Tax Act of 1961. 
  • The minimum investment amount is ₹1,000, and the maximum is ₹1.5 lakhs. 
  • The FD has a 5-year lock-in period.  
  • Only Indian Residents and HUFs can invest in Tax Saver FDs of
  • Ujjivan Small Finance Bank.
  • Based on the tenor, the interest rate ranges from 3.75% to 8.25% for the general public and 4.25% to 8.75% for senior citizens.


Digital Fixed Deposits  

Digital Fixed Deposits can be opened in a few simple steps easily. It helps to avoid any kind of paperwork thus enhancing digitalisation. It allows 24/7 and 365 days online support to investors. The following are its features:  

  • Tenure ranges from 6 months to 10 years.
  • You can open this FD without opening a savings account. 
  • You only need a PAN and Aadhaar card to open this account. 
  • Digital FD allows premature withdrawal after 6 months of investment. 
  • No penalty will be charged for premature withdrawal.  
  • Investors get advice related to digital FD within 24 hours of opening the FD account on their registered e-mail ID. 
  • Based on the tenor, the interest rate ranges from 3.75% to 8.25% for the general public and 4.25% to 8.75% for senior citizens.


Platina Fixed Deposit

Ujjivan Small Finance Bank introduced Platina FD with a view to giving the investors a higher rate of interest than the regular FD. Here are some of its features:  

  • Platina FD does not allow partial withdrawal or a premature closure. 
  • It is a retail non-callable deposit product. 
  • Investors can demand for payout on a quarterly, annual or semi-annual basis. 
  • No auto-renewal facility available on this FD. 
  • Tenure ranges from 1 year to 5 years. 
  • The minimum investment amount in this type of FD is ₹20 lakhs and the maximum amount is ₹2 crores. 
  • Based on the tenor, the interest rate ranges from 3.75% to 8.25% for the general public and 4.25% to 8.75% for senior citizens.

Sampoorna Nidhi Fixed Deposits  

The goal of the Ujjivan Small Finance Bank Sampoorna Nidhi fixed deposit plan is to help current clients (who have a savings or current account with Ujjivan Small Finance Bank) build a corpus while getting a reliable monthly income flow. The benefits and characteristics of the plan are as follows:

  • The minimum investment amount in this type of FD is ₹25,000 and multiples of ₹1,000 thereafter. 
  • Tenure ranges from 1 year to 5 years. 
  • Senior citizens get an additional 0.5% of interest over regular citizens.  
  • Sampoorna Nidhi FD allows opting for premature withdrawal after 6 months of investment. 
  • Depositors can avail auto-renewal facilities. 
  • The investors get 24/7 services for this type of FD. 
  • Sampoorna Nidhi FD of Ujjivan Small Finance Bank can be opened at its nearest branch or through internet banking.
  • Based on the tenor, the interest rate ranges from 3.75% to 8.25% for the general public and 4.25% to 8.75% for senior citizens.


Sampoorna Lakshya Fixed Deposits

Everyone has some or kind of goal which they aim to achieve in some time. Sampoorna Lakshya FD was introduced with the purpose of enabling investors to reach their set goals. It helps to invest money in such a way which helps the investors to earn a regular income to achieve their goal. Let’s look at some of its features:  

  • The minimum investment amount is ₹3,000 and multiples of ₹1,000. 
  • Can be opened at the nearest branch or through Internet banking.  
  • Senior citizens get an additional 0.5% of interest over regular citizens.  
  • Interest rates are higher than a savings account. 
  • The investors gets 24/7 services for this type of FDs
  • Tenure is between 3 months to 10 years (in multiples of 1 month)
  • After 6 months of account opening, depositors can prematurely close the account without penalty.
  • Based on the tenor, the interest rate ranges from 3.75% to 8.25% for the general public and 4.25% to 8.75% for senior citizens.



NRE Fixed Deposit

  • The minimum investment amount is ₹5,000 and multiples of ₹1,000. 
  • Tenure is between 1 year to 10 years. 
  • Investors can demand monthly, quarterly or annual payouts. 
  • Premature withdrawal is allowed.
  • Based on the tenor, the interest rate ranges from 3.75% to 8.25% for the general public and 4.25% to 8.75% for senior citizens.


NRO Fixed Deposit

  • The minimum investment amount is ₹5,000 and multiples of ₹1,000. 
  • Period ranges from 7 days to 10 years. 
  • Premature closure and withdrawal facilities are available. 
  • Liberal payouts can be opted for. 
  • Based on the tenor, the interest rate ranges from 3.75% to 8.25% for the general public and 4.25% to 8.75% for senior citizens. 

Eligibility Criteria to Open a Fixed Deposit with Ujjivan Small Finance Bank

To invest in Ujjivan Small Finance Bank Bank Fixed Deposits, the following are eligible:

  • Resident individuals,
  • Limited corporations, and
  • Hindu Undivided Family (HUF)   

Documents Required to Open an Ujjivan Small Finance Bank Fixed Deposit

The following documents are required to invest in Ujjivan Small Finance Bank fixed deposits:  

Identity Proofs: 

  • PAN card
  • Aadhaar card
  • Passport size photographs

Address proof :

  • PAN form 60 in case of non-availability of PAN card.  
  • Utility Bills
  • Electricity Bills 
  • Bank Statement 
  • Cancelled cheque.
     

How To Open A FD Account with Ujjivan Small Finance Bank?

Fixed deposit accounts can be opened in both online and offline methods: 

Online Method:


Step 1: Visit the official website of Ujjivan Small Finance Bank. 
Step 2: Select ‘Explore products’. 
Step 3: Click ‘Deposits’ and select your preferred FD scheme. 
Step 4: Click on ‘Apply now’. 
Step 5: Fill out the required details and submit the form. 
Step 6: Enter the OTP received on the mentioned mobile number. 
Step 7: Click on ‘Confirm’. 
Step 8: The form is submitted, and a bank’s representative will contact you regarding further proceedings. 


Offline Method:


Step 1: Visit the bank branch.
Step 2: Take the FD application form. 
Step 3: Fill the required details and attach the necessary documents. 
Step 4: Submit the form to the branch. 
 

Ujjivan Small Finance Bank Fixed Deposit Premature Withdrawal

  • Ujjivan Small Finance Bank gives an option for the premature withdrawal of the FDs. 
  • You cannot prematurely withdraw tax saving FD. 
  • The bank levies a 1% penalty on the interest for all premature withdrawals.  
     

FAQs

  • Can an investor change the tenure of Ujjivan Small Finance Bank FD?
     

No, you cannot change the tenure of the Ujjivan Small Finance Bank FD. You can prematurely close the FD and start a fresh FD. However, a penalty is applicable for premature withdrawal of the FD. 
 

  • Is the ₹5 lakhs DICGC insurance cover applicable on Ujjivan Small Finance Bank FD?
     

Yes. ₹5 lakhs Deposit Insurance and Credit Guarantee Corporation (DICGC) insurance cover applies to Ujjivan Small Finance Bank FD.
 

  • What are the highest Ujjivan Small Finance Bank FD rates? 
     

Currently, the highest rate offered by Ujjivan Small Finance Bank FD is 8.25% for regular citizens and 8.75% for senior citizens with a tenure of 80 weeks (560 days). 
 

  • What is the tenure of interest payment?
     

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

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Ujjivan Small Finance Bank

Calculate Ujjivan Small Finance Bank FD Returns

₹1,00,000
6%
365
days
daysmonthsyears
Maturity Amount₹1,06,000

Understanding Fixed Deposit

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