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Ujjivan Small Finance Bank Fixed Deposit

Fixed deposit is a financial instrument offered by banks and non-banking financial companies, where an individual can deposit his or her money for a higher rate of interest than savings deposits. Funds can be invested in a lump sum for a specific duration, which differs from one institution to another. Fixed deposits by Ujjivan Small Finance Bank are a popular choice among conservative investors, seeking stability and safety of principal amount.

About Ujjivan Small Finance Bank: Ujjivan Small Finance Bank Limited is focused on meeting the needs of the financially unserved segments in India, and is committed to building financial inclusion. As of September 30, 2019, the bank has a diversified portfolio with branches in 24 states and union and a customer base of 4.9 million. Ujjivan Small Finance Bank's deposit portfolio includes Fixed Deposit, Tax Saver Fixed Deposits, Recurring Deposit (RD) and Digital Fixed Deposit.

(Note - All the information contained in this page has been sourced from the official website of Ujjivan Small Finance Bank.)

Ujjivan Small Finance Bank Rates of Interest on Fixed Deposit

Interest Rates for Domestic and NRO Deposits

The interest rates with effect from 5th Sep, 2019, are as under:

TenureInterest Rate (p.a.) (Below Rs. 2 crores)
7 Days to 29 Days5.50%
30 Days to 89 Days6.25%
90 Days to 179 Days6.75%
180 Days to 364 Days7.00%
1 Year to 2 Years8.10%
2 Years and 1 Day to 734 Days7.50%
735 Days8.15%
736 Days to 798 Days7.50%
799 Days8.30%
800 Days to 3 Years7.50%
3 Years and 1 Day to 5 Years7.00%
5 Years and 1 Day to 10 Years6.50%
Additional Interest Rate for Senior Citizens0.50%

Source: Official website of Ujjivan Small Finance Bank

Interest Rates for Resident Recurring Deposits

TenureInterest Rate (p.a.) (Below Rs. 2 crores)
6 months to 9 months7.00%
12months to 24 months8.10%
27 months to 36 months7.50%
39 months to 60 months7.00%
63 months to 120 months6.50%
Additional Interest Rate for Senior Citizens0.50%

Source: Official website of Ujjivan Small Finance Bank

Interest Rates for NRE Deposits

The interest rates with effect from 5th Sept, 2019, are as under

TenureInterest Rate (p.a.) (Below Rs. 2 crores)
1 Year to 2 Years8.10%
2 Years and 1 Day to 734 Days7.50%
735 Days8.15%
736 Days to 798 Days7.50%
799 Days8.30%
800 Days to 3 Years7.50%
3 Years and 1 Day to 5 Years7.00%
5 Years and 1 Day to 10 Years6.50%
799 Days8.30%
800 Days to 3 Years7.50%
3 Years and 1 Day to 5 Years7.00%
5 Years and 1 Day to 10 Years6.50%

Source: Official website of Ujjivan Small Finance Bank

Types of Ujjivan Small Finance Bank Fixed Deposit Schemes

Ujjivan Bank Regular Fixed Deposits

  • Minimum deposit amount - Rs. 1,000
  • Tenure - 7 days to 10 years
  • Interest payment options - monthly, quarterly, half yearly, annually and at maturity (Discounted interest rate for monthly interest pay out option)
  • Premature closure and partial withdrawal facility allowed
  • 0.5% additional rate for senior citizens

Ujjivan Bank Tax Saver Fixed Deposits

  • Tax exemption under Section 80C of the Income Tax Act, 1961, can be claimed
  • Minimum deposit amount - Rs. 1,000, Maximum deposit amount - Rs. 1,50,000 for a 5-year lock-in-period
  • Eligibility: Residents and HUF
  • Interest payment options - quarterly, monthly (discounted) and at maturity

Ujjivan Bank Regular Recurring Deposits

  • Minimum deposit amount - Rs. 1,000
  • Tenure - 6 months to 10 years
  • Premature closure facility allowed
  • Interest calculated quarterly but payable at maturity only
  • 0.5% additional rate for senior citizens

Source: Official website of Ujjivan Small Finance Bank

Documents Required

For opening a Fixed Deposit Account with Ujjivan Small Finance Bank, the applicant would need to provide the following documents:

  • Copy of PAN Card/ Form 60
  • Passport Size Photographs
  • KYC Documents: Proof of Identity and Proof of Address Users are advised to visit the website of the bank for complete information on the documents required to open a fixed deposit account.

How to Apply for Ujjivan Small Finance Bank Fixed Deposit Schemes

Entities can apply for Ujjivan Small Finance Bank Fixed Deposit either by heading to the company’s nearest branch office or through its official website. Users can locate the nearest branch on the website of the bank, by simply entering details like state, city and area. Applicants who wish to go through the online route would need to click on the ‘Apply Now’ option and then select ‘Fixed Deposits’. They will be directed to the enquiry form page, where personal details, like name, email address and mobile number, need to be entered. Once this is complete, the applicants need to press on the 'Apply Now' button.

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