Ujjivan Small Finance Bank Hikes Interest Rates By 25 Bps On Platina Fixed Deposits

Ujjivan Small Finance Bank has hiked interest rates on Platina fixed deposits. Interest rates on Platina fixed deposits have been raised by Ujjivan Small Finance Bank. The announcement was made today, May 1, 2022, and as a result of the modification, the bank has increased the interest rate on deposits maturing in 12 months from 6.65 per cent to 6.90 per cent, a 25-basis-point increase.

The bank increased the interest rate on Platina Fixed Deposits maturing in 12 months and 1 day to 19 months from 6.15 per cent to 6.40 per cent, a 25-basis-point rise. The interest rate on deposits maturing in 19 months and 1 day to 24 months was formerly 6.75 per cent, but it is now 7%, a 25-basis-point hike. The interest rate on deposits maturing in 24 months and 1 day to 989 days has been raised from 6.65 per cent to 6.90 per cent, and the interest rate on deposits maturing in 990 days has been raised from 6.90 per cent to 7.15 per cent, a 25-basis-point increase.

Whereas the interest rate on deposits maturing in 991 days to 36 months has been raised by 25 basis points from 6.65 per cent to 6.90 per cent, and the interest rate on deposits maturing in 3 years and 1 day to 5 years has been raised by 25 basis points from 6.40 per cent to 6.65 per cent. Platina Deposit is a non-callable deposit instrument for retail customers, which means that part closure and pre-closure are not allowed. This deposit can be made at Ujjivan Small Finance Bank for a deposit amount of more than Rs.15 lakhs but less than Rs.2 crores, for a term ranging from 12 months to 60 months. On Platina Fixed Deposits, senior citizens are eligible to get an additional rate of 0.75% over and above the regular rate.

Ujjivan Small Finance Bank Platina Fixed Deposit Interest Rates

TENURE	Interest Rate (p.a.) (Under Rs. 2 Crores)
12 Months	6.90%
12 Months and 1 Day to 19 Months	6.40%
19 Months and 1 Day to 24 Months	7.00%
24 Months and 1 Day to 989 Days	6.90%
990 Days	7.15%
991 Days to 36 Months	6.90%
3 Years and 1 Day to 5 Years	6.65%
Additional Interest Rate for Resident Senior Citizens	0.75%
Source: Bank Website