The brand new rates of interest have been in impact from March 7.
Whereas the very best fee on a tenure of 15 months has been made at 8.50 per cent, the very best rate of interest on the identical tenure for senior residents is 9 per cent.
Fastened deposits (FD) have been cherished as probably the most safe procedures of financial savings in finance. It additionally presents assured returns over a specified interval of tenure. Lately, a number of Small Finance Banks (SFBs) have revised their rates of interest on FDs, catering to the wants of the final residents and senior residents equally.
Amongst a number of such SFBs, Ujjivan Small Finance Financial institution has additionally made a big revision of their rates of interest on fastened deposits (FD). Following the rates of interest revision, the Ujjivan Small Finance Financial institution now presents an rate of interest between 3.75 per cent to eight.50 per cent for common prospects.
Whereas the very best fee on a tenure of 15 months has been made at 8.50 per cent, the very best rate of interest on the identical tenure for senior residents is 9 per cent. As per the revised notification, the brand new rates of interest have been made efficient from March 7.
As per the revised charges, the financial institution will now be giving 8.50 per cent on time period deposits underneath Rs 2 crore that mature in 15 months, whereas the financial institution will even offer 8.25 per cent on those who mature in 15 months, 1 day to 560 days. Other than that, the rate of interest on deposits due in 991 days to 60 months will now be provided at 7.20 per cent whereas the rate of interest on deposits maturing in 60 months, 1 day to 120 months will now be 6.50 per cent.
Furthermore, people who’re aged 60 years or above might be getting extra advantages from the financial institution as properly. senior residents who use the financial institution’s on-line FD might be getting an extra 0.50 per cent rate of interest.
The Ujjivan Small Finance Financial institution additionally has a multiple-interest fee possibility. In response to the financial institution, deposits over Rs 1 crore and beneath Rs 2 crore will solely be eligible for the extra rate of interest of 0.20 per cent provided by Platina FD. The out there curiosity pay-out choices in Ujjivan Small Finance Financial institution are on a month-to-month, quarterly and maturity foundation.
In addition to, Ujjivan Small Finance Financial institution, two extra small finance banks, Shivalik Financial institution and Suryoday Financial institution have additionally revised their rates of interest on FD just lately.
