This Small Finance Bank Offers Highest Interest Rate To Senior Citizens On Bank FD

Ujjivan Small Finance Bank has revised its interest rate on a fixed deposit for a specific term of 560 days (12 months and 80 weeks). The new rates are made effective from June 1, 2023.

This small lender has increased the rate of interest for regular customers, NRO and NRE to 8.25% from 6.25% earlier. Senior citizens have an extra benefit as they get much higher interest rates from the bank.

The small finance lender is offering a rate of 8.75% to senior citizens for 560 days. Besides this revision, the bank is offering an additional interest rate of 0.2% on Platina FD.

Platina FD is a term deposit with tenure ranging from 1 year to a maximum of 5 years. The Platina FD is non-callable and the facility of partial & premature withdrawal is not available in this scheme.

The additional rate is offered only for deposit amounts above Rs.15 Lakhs and below Rs.2 Crores.

Ujjivan Small Finance Bank allows monthly, quarterly, and at-maturity interest pay-out options as well. It also offers a Tax Saver Fixed Deposit that has a mandatory five years lock-in period.

In this latest round of rate increases on FDs, Ujjivan Small Finance Bank is among the banks offering the highest interest rates on term deposits.

About Ujjivan Small Finance Bank Limited

Ujjivan Small Finance Bank Limited is one of the leading small finance banks. Ujjivan Small Finance Bank began operations in February 2017 and currently serves 76+ lakh customers through its 639 branches and 17,000+ employees. It has a market capitalisation of Rs 7,076.20 crores.

Scrip Price Movement

The stock of Ujjivan Small Finance Bank closed 0.64% marginally higher at Rs 36.28 per share in Friday's trading session. In the last one year, the bank stock has surged by 120.55% but over three years it has just rallied by 28.88%.