Ujjivan Small Finance Bank announced an interest rate change on fixed deposits, resulting in a standard rate of 2.90 percent to 6.00 percent, with senior citizens earning a 3.4 percent to 6.5 percent interest rate on deposits maturing in 7 days to 10 years.
Interest rates on fixed deposits of less than 2 crore rupees have been revised by Ujjivan Small Finance Bank (SFB).
The bank announced this on May 19, 2022, and as a result of the change, the bank now offers a standard rate of 2.90 percent to 6 percent, with senior citizens receiving a rate of 3.4 percent to 6.5 percent on deposits maturing in seven days to ten years.
On term deposits due in 990 days, the DICGC-insured small finance bank will now offer a maximum interest rate of 7.10 percent to the general public and 7.60 percent to senior citizens.
Starting May 19, 2022, jjivan Small Finance Bank will pay 2.90 percent interest on deposits maturing in 7 to 29 days. Deposits maturing in 30 days to 89 days will now earn 3.50 percent interest, while deposits maturing in 90 days to 179 days will earn 4.25 percent interest.
Standard customers will now receive a 5.00 percent interest rate on 6-month deposits and a regular rate of 4.75 percent on 6-month to 9-month deposits.
Deposits maturing in 9 months will now earn a 5.05 percent interest rate, while deposits maturing in 9 months to 12 months will earn a 6.50 percent interest rate.
Fixed deposits maturing in 12 months and 1 day to 15 months will now earn a rate of 6.00 percent, while deposits maturing in 15 months and 1 day to 18 months will earn a rate of 6.75 percent. Deposits maturing in 18 months and 1 day to 24 months will now earn a 6.60 percent interest rate, while deposits maturing in 24 months will earn a 6.90 percent interest rate.
The bank offers a standard rate of 6.50 percent on deposits maturing in 24 months and 1 day to 989 days, with a maximum rate of 7.10 percent on deposits maturing in 990 days for loyal customers.
Deposits maturing in 991 days to 36 months will now earn 6.50 percent, 6.25 percent in 3 years and 1 day to 5 years, and 6.00 percent in 5 years and 1 day to 10 years, according to Ujjivan Small Finance Bank.
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