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 of 1949.
|Tenure||For General Citizens (p.a.)||For Senior Citizens (p.a)|
|7 Days to 29 Days||3.75%||4.25%|
|30 Days to 89 Days||4.25%||4.75%|
|90 Days to 179 Days||4.75%||5.25%|
|6 Months to 9 Months||5.5%||6%|
|9 Months 1 Day to <12 months||6.5%||7%|
|12 months 1day to 13 months||6.5%||7%|
|13 Months and 1 Day to 559 Days||8%||8.5%|
|80 Weeks (560 Days)||8.25%||8.75%|
|561 Days to 989 Days||7.5%||8%|
|Note: All interest rates are updated as of 1st Aug 2023|
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 time period of the FD ranges from 7 days to 10 years.
Regular Fixed Deposits
Below are some of the features of this FD:
Tax Saver Fixed Deposits
The following are the features of these FDs:
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:
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:
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:
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:
NRE Fixed Deposit
NRO Fixed Deposit
To invest in Ujjivan Small Finance Bank Bank Fixed Deposits, the following are eligible:
The following documents are required to invest in Ujjivan Small Finance Bank fixed deposits:
Fixed deposit account can be opened in both online and offline methods:
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 related to further proceedings.
Step 1: Visit the bank branch.
Step 2: Take the FD application form.
Step 3: Fill the required details and attach necessary documents.
Step 4: Submit the form to the branch.
As per the Income Tax Act of India of 1961, taxpayers can seek deductions under Section 80C if they invest in FDs.
In a given financial year, a taxpayer can avail tax deduction to a maximum of ₹1.5 lakhs from their gross taxable income, provided the following conditions are fulfilled:
At the time of filing the Income Tax Returns (ITR), the taxpayer can provide supporting documents to avail tax benefits on FDs.
Tax Deducted at Source (TDS)
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.
Yes. ₹5 lakhs Deposit Insurance and Credit Guarantee Corporation (DICGC) insurance cover is applicable on Ujjivan Small Finance Bank FD.
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).
Ujjivan Small Finance Bank offers monthly, quarterly, yearly, and at-maturity interest payout choices for its FD plans.
Disclaimer: The calculator and the results of the same are based on information inputted by you and extracted from third party sources. The information on this page is for illustrative purposes only and does not amount to any investment advice or recommendation. Wint Wealth has no commercial interest or gain in or from the actions resulting from the information displayed on this page. The information displayed on this page does not constitute an invitation to invest in any product nor is it a promise of performance. Interest rates are not updated in real time and you are advised to make your own enquiries, consult a professional advisor and verify the information prior to taking any investment decisions.