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How to Open Ujjivan Small Finance Bank Fixed Deposit Account

Updated 05 Sep 2023

Ujjivan Small Finance Bank, a key player in the banking sector since 2017, has increasingly become a popular choice for depositors looking for attractive and flexible fixed deposit options. With the bank offering a spectrum of FD schemes, understanding how to capitalise on these opportunities becomes essential. This blog aims to guide potential investors on seamlessly opening a Fixed Deposit account with Ujjivan Small Finance Bank, the eligibility criteria, and necessary documentation, and addresses frequently asked questions.

How to Open an FD Account in Ujjivan Small Finance Bank

Fixed deposit accounts can be availed through both online and offline mediums:

 

Online Method

  • Visit the official website of Ujjivan Small Finance Bank.
  • Select ‘Explore products’.
  • Click ‘Deposits’ and choose your desired FD scheme.
  • Click on ‘Apply now’.
  • Fill in the requisite details and submit the form.
  • Input the OTP received on the provided mobile number.
  • Click on ‘Confirm’.
  • Once submitted, a representative from the bank will get in touch regarding further procedures.

 

Offline Method

  • Make a trip to your nearest Ujjivan Small Finance Bank branch.
  • Obtain the FD application form.
  • Complete the necessary details and attach the required documents.
  • Hand over the filled form to the respective bank executive.

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

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

Documents Required to Open an Ujjivan Small Finance Bank Fixed Deposit

  • PAN card
  • Aadhaar card
  • Passport size photographs
  • Address proof
  • Without a PAN card, PAN form 60 will be needed.

FAQs

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

No, it isn't possible to alter the tenure of the Ujjivan Small Finance Bank FD post-commencement. While one can opt for premature closure of the FD and then initiate a new FD, it's crucial to remember that premature withdrawals are subject to penalties.

Is the ₹5 lakhs DICGC insurance cover valid for Ujjivan Small Finance Bank FD?

Absolutely, the ₹5 lakhs Deposit Insurance and Credit Guarantee Corporation (DICGC) insurance cover applies to FDs with Ujjivan Small Finance Bank.

What are the peak FD rates offered by Ujjivan Small Finance Bank?

At present, Ujjivan Small Finance Bank boasts of an FD rate of 8.25% for general customers and 8.75% for senior citizens, given a tenure of 80 weeks (560 days).

How often is the interest on the FD paid out?

Ujjivan Small Finance Bank provides a range of options for interest disbursement, including monthly, quarterly, yearly, and at the point of maturity.

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