Ujjivan Small Finance Bank Fd Rates

Latest Ujjivan Small Finance Bank FD Rates

Platina* Fixed Deposit - Domestic & NR Deposits

The updated interest rates, effective from September 13th, 2024, are listed below.

Domestic Fixed Deposits and Sampoorna Nidhi

The updated interest rates, effective from September 13th, 2024, are listed below.

NRO* Fixed Deposits

The updated interest rates, effective from September 13th, 2024, are listed below.

FD Interest Rates for NRE Fixed Deposits

The updated interest rates, effective from September 13th, 2024, are listed below.

Ujjivan Small Finance Bank Tax Saver Deposit Interest Rate

Ujjivan Bank Tax Saver Fixed Deposit lets you save on taxes by offering a tax exemption for a maximum deposit of Rs. 1.5 lakh per financial year. It also provides attractive interest rates and allows you to choose how you receive your interest payout - monthly, quarterly, or at maturity.

Ujjivan Small Finance Bank FD Features

• Open an FD easily: You can open a fixed deposit directly online, without needing a separate savings account at Ujjivan.
• Quick and secure: The online process is paperless and secure, making it convenient and hassle-free.
• Get your interest how you like: Choose to receive your interest payouts quarterly or in a lump sum at the end of your FD term.
• Stay informed: Ujjivan Bank will send relevant FD advice directly to your email, keeping you updated.
• Nationwide access: Even though you open your FD online, you can still visit any of Ujjivan's branches across 26 states and union territories if needed.

Ujjivan Small Finance Bank FD Benefits

• Enjoy the security and stability of a trusted bank: Ujjivan Small Finance Bank is a reliable place to keep your money.
• Open your FD quickly and conveniently online: No need to visit a branch - you can set up your FD from the comfort of your home in minutes.
• Earn competitive interest rates: Grow your money faster with Ujjivan's attractive FD interest rates.
• Senior citizens get an even better deal: Ujjivan offers additional interest on FDs for senior citizens.
• Need your money back early? No problem! Withdraw your FD after 6 months without any penalty charges.

What Affects Ujjivan Small Finance Bank's FD Rates?

Several factors influence the interest rates offered on Ujjivan Small Finance Bank's fixed deposits:

• Deposit term: Generally, you'll get a higher interest rate for locking your money in for a longer period (medium-term or long-term) compared to shorter deposits.
• Your age: Senior citizens (often above 60 years old) typically benefit from a higher interest rate on their FDs.
• Economic climate: Interest rates can change based on the current economic conditions in India and around the world.

Requirements to Open Ujjivan Small Finance Bank FD

Here's what you need to have ready to open a fixed deposit with Ujjivan Small Finance Bank:

• Aadhaar Card: This is a unique identification document issued by the Indian government.
• PAN Card (Physical copy required): Your Permanent Account Number card is used for tax purposes. Make sure you have the physical copy for verification.
• Mobile Number Linked to Aadhaar: The phone number registered with your Aadhaar card will be used for communication.

Process to Apply for Ujjivan Small Finance Bank FD

• Get Started: Enter your mobile number, PAN card details, and Aadhaar card information.
• Choose Your FD: Select your preferred deposit amount, interest payout option, and FD term. Then, complete the online payment.
• Tell Us About Yourself: Fill in your personal details to complete the application form.
• Verify Your Identity (Video KYC): Ujjivan uses a secure video call system to verify your identity. This step is usually available between 8:00 AM and 8:00 PM. Note: You'll need your physical PAN card for verification during the video call.
• Once everything is complete, you'll receive a confirmation receipt for your FD. Now you can sit back and watch your returns grow!

Ujjivan Small Finance Bank FD Options

Regular Fixed Deposits:

• Minimum deposit: Rs 1,000
• Term: 7 days to 10 years
• Flexibility: Get interest payouts quarterly or reinvest them until maturity. Monthly payouts are available at a slightly lower rate.
• Partial withdrawals: Make partial withdrawals or close your FD after 6 months without penalty.
• Open your FD conveniently: Open online, through mobile banking, internet banking, at branch locations, or even at centre meetings (up to Rs 15,000).
• Senior citizen benefit: Earn an extra 0.50% interest per year.

Tax Saver Fixed Deposits:

• Save on taxes: Get a tax deduction of up to Rs 1.5 lakh each year under Section 80C of the Income Tax Act.
• Eligibility: Open to Indian residents and members of Hindu Undivided Families (HUF).
• Deposit amount: Rs 1,000 minimum, Rs 1.5 lakh maximum
• Term: Locked in for 5 years
• Interest payouts: Choose quarterly or monthly (at a lower rate) payouts, or receive all interest at maturity.

Digital Fixed Deposit:

• No savings account needed: Open an FD directly, without needing a separate savings account at Ujjivan.
• Term: 6 months to 10 years
• Fast and paperless: Enjoy a hassle-free online application process with just your Aadhaar and PAN card.
• Funding options: Fund your FD through Net Banking, UPI, or Debit Card.
• Early access: Withdraw your money after 6 months with no penalty.
• FD advice: Receive personalised FD recommendations by email within 24 hours of opening your account.
• Interest payouts: Choose quarterly or receive all interest at maturity.
• Senior citizen benefit: Earn an extra 0.50% interest per year.

Sampoorna Nidhi Fixed Deposit:

• Earn interest monthly: Interest is calculated and credited to your linked savings or current account every month.
• Minimum deposit: Rs 25,000, with additional deposits in multiples of Rs 1,000
• Term: 1 to 5 years, in yearly increments
• Early access: Withdraw your money after 6 months with no penalty.
• Senior citizen benefit: Earn an extra 0.50% interest per year.
• Auto-renewal: Enjoy the convenience of automatic renewal at maturity.
• Sampoorna Nidhi advice: Receive personalised FD recommendations by email within 24 hours of opening your account.

NRE Fixed Deposits (For Non-Resident Indians):

• Minimum deposit: Rs 5,000, with additional deposits in multiples of Rs 1,000
• Term: 1 to 10 years
• Interest payouts: Choose quarterly, monthly, or half-yearly payouts, or receive all interest at maturity. Monthly payouts come at a slightly lower rate.
• Flexibility: Make partial withdrawals or close your FD early (after 6 months) without penalty.

NRO Fixed Deposits (For Non-Resident Indians):

• Minimum deposit: Rs 5,000, with additional deposits in multiples of Rs 1,000
• Term: 7 days to 10 years
• Interest payouts: Choose quarterly, monthly, or half-yearly payouts, or receive all interest at maturity. Monthly payouts come at a slightly lower rate.
• Flexibility: Make partial withdrawals or close your FD early (after 6 months) without penalty.

Tax on Ujjivan Small Finance Bank FD

Tax savings with Tax Saver FD: Ujjivan's Tax Saver FD lets you save up to Rs 1.5 lakh per year on your taxes under Section 80C of the Income Tax Act. This is the only Ujjivan FD that offers this tax benefit.

Taxes on Ujjivan Small Finance Bank FD Interest

• Interest is taxable: The interest you earn on all Ujjivan Small Finance Bank FDs is taxable according to your income tax bracket.
• TDS applies: A Tax Deducted at Source (TDS) of 10% may be applied to your FD interest income if it exceeds Rs 40,000 per year. This limit is Rs 50,000 per year for senior citizens.
• No PAN, higher TDS: If you don't provide your PAN card details to the bank, they will deduct a higher TDS rate of 20% on your FD interest income.

Withdrawal penalty

Term deposits for all periods less than 1 crore are subject to 1% penal interest for premature withdrawal of domestic term deposits.

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