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Utkarsh Small Finance Bank Revises Interest Rates On Fixed & Recurring Deposits

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Utkarsh Small Finance Bank (SFB) has revised its interest rates on fixed and recurring deposits of less than Rs. 2 Cr. According to the bank's official website, the new rates are effective as of today 20th January 2022. Following the revision, the bank is now offering an interest rate of 3.00% to 6.00% to the general public and 3.50% to 6.50% to senior citizens on their domestic fixed deposits maturing in 7 days to 10 years. Whereas on recurring deposits, the bank is now promising an interest rate of 6.50% to 6.75% to the general public and 7.00% to 7.25% to senior citizens on their recurring deposits maturing in 6 months to 10 years.

 

Utkarsh Small Finance Bank Fixed Deposit Interest Rates For Regular Customers

Utkarsh Small Finance Bank Fixed Deposit Interest Rates For Regular Customers

Utkarsh Small Finance Bank is now offering a 3.00 percent interest rate on deposits maturing in 7 to 45 days to the general public. On domestic fixed deposits maturing in 46 days to 90 days, the general public will now get a 3.25 percent interest rate. Deposits maturing in 91 days to 180 days and 181 days to 364 days will now return 4.00 percent and 5.75 percent interest, respectively.

Non-senior citizens will now get 6.50 percent and 6.75 percent interest on term deposits maturing in 365 to 699 days and 700 to 999 days, respectively. On deposits of less than Rs. 2 Cr maturing in 1000 days, 1001 days up to 5 years, and above 5 years to 10 years, Utkarsh Small Finance Bank is currently giving interest rates of 6.90 percent, 6.75 percent, and 6.00 percent to the general public.

TenureInterest Rates Per Annum General Customers
7 Days to 45 Days3.00%
46 Days to 90 Days3.25%
91 Days to 180 Days4.00%
181 Days to 364 Days5.75%
365 Days to 699 Days6.50%
700 Days to 999 Days6.75%
1000 Days6.90%
1001 Days upto 5 Years6.75%
Above 5 Years to 10 Years6.00%
Source: Bank Website. W.e.f. 20th January 2022 
Utkarsh Small Finance Bank Fixed Deposit Interest Rates For Senior Citizens
 

Utkarsh Small Finance Bank Fixed Deposit Interest Rates For Senior Citizens

Senior citizens will continue to get an additional rate of 0.50% on their domestic term deposits across all tenors. With effect from today, senior citizens will get the following interest rates on their fixed deposits of less than Rs. 2 Cr.

TenureInterest Rates Per Annum Senior Citizens
7 Days to 45 Days3.50%
46 Days to 90 Days3.75%
91 Days to 180 Days4.50%
181 Days to 364 Days6.25%
365 Days to 699 Days7.00%
700 Days to 999 Days7.25%
1000 Days7.40%
1001 Days upto 5 Years7.25%
Above 5 Years to 10 Years6.50%
Source: Bank Website. W.e.f. 20th January 2022 
Utkarsh Small Finance Bank Recurring Deposit Interest Rates

Utkarsh Small Finance Bank Recurring Deposit Interest Rates

With effect from January 20, 2022, Utkarsh Small Finance Bank is guaranteeing the following interest rates on domestic recurring deposits maturing in 6 months to 10 years.

TenureInterest Rates Per Annum General CustomersInterest Rates Per Annum Senior Citizens
Upto 6 months6.50%7.00%
9 months6.50%7.00%
12 months6.75%7.25%
15 months6.75%7.25%
18 months6.75%7.25%
21 months6.75%7.25%
Above 21 Months to less than 24 Months6.75%7.25%
24 Months to 36 months7.00%7.50%
Above 3 Years upto 5 Years6.75%7.25%
Above 5 years upto 10 years6.75%7.25%
Source: Bank Website. W.e.f. 20th January 2022  

Story first published: Thursday, January 20, 2022, 15:22 [IST]
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