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Amazing offer: Interest is getting up to 8.25 percent on FD, know where

FD
Written by bobby
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Amazing offer: Interest is getting up to 8.25 percent on FD, know where

Ujjivan Small Finance Bank

Ujjivan Small Finance Bank

Ujjivan Small Finance Bank has increased the interest rates on its fixed deposits with effect from August 9, 2022. The bank is giving 7.5 percent interest on fixed deposits. The bank is giving this rate on its three deposit tenure scheme. On FDs of 75 weeks, 75 months, and 990 days, customers will get an attractive rate of 7.5 percent. Senior citizens will earn an additional 75 basis points on fixed deposits across all tenors. Ujjivan SFB will allow monthly, quarterly, and interest payment options on maturity.

interest rates

interest rates

All the interest rates given below are applicable on Tax Saver Fixed Deposits as well. However, they carry a lock-in period of five years.

Period First Interest Rate New Interest Rate (from 9 August)
75 weeks 7.00 percent 7.50 percent
990 days 7.20 percent 7.50 percent
75 Months 6.00 percent 7.50 percent

how much return will you get

how much return will you get

If a person invests Rs 1,00,000 at 7.5 percent for 75 weeks, one can earn returns of up to Rs 1,11,282/- on maturity. Similarly, senior citizens investing Rs 1,00,000 at an interest rate of 8.25 percent for 75 weeks can earn returns of up to Rs 1,12,466/- on maturity.

Platina FD also has the facility

Similarly, the bank has also increased the interest rates on Platina fixed deposits to 7.7% per annum, for a tenure of 990 days, an increase of 20 basis points over regular deposits. Customers can invest at least Rs 15 lakh to Rs 2 crore under this plan. Platina FD is non-callable, i.e. partial and premature withdrawal facility is not available in this plan.

About the author

bobby

Hi, I am Bobby. Blogger India. I love writing, and reading articles. Blogging is my passion. I have started my blogging career in 2016.

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