Ujjivan Small Finance Bank (SFB) today increased the deposit interest rates to 6.75-7.50 per cent across tenures on fixed deposits of up to ₹2 crore, the private said in a statement today.
As per the revised rates, senior citizens will get the interest rate of up to 7.5 per cent. The new rates will come into effect from December 31, 2021. They carry a five-year lock-in period and will be offered on tax saver fixed deposits.
As per the bank statement, deposits for 990 days tenure will attract 6.75 per cent interest from 6.60 per cent earlier. For the 19 months 1 day tenure, customers will get 6.60 per cent interest rate. For senior citizens, the interest rate for 990 days has been increased to 7.50 per cent from 7.35 per cent earlier, while they'll get 7.35 per cent interest for the 19 months 1 day tenure .
"A senior citizen investing ₹1 lakh for 990 days at 7.5 per cent can earn returns up to ₹1,22,314 at maturity. For general citizens investing ₹1 lakh for 990 days at 6.75 per cent can earn up to ₹1,19,895. This makes Ujjivan SFB interest rates on term deposits among the most attractive and competitive in the sector," Ujjivan Small Finance Bank said.
With PTI inputs
Also read: Ittira Davis to be appointed MD & CEO of Ujjivan Small Finance Bank
