Investment Amount
Maximum – NA | Tenure
Maximum – 3653 days | Interest Rate*
Maximum – 6.75% |
Minimum – ₹ 1,000
Minimum – 7 days
Minimum – 3.05%Ujjivan Small Finance Bank provides a range of fixed deposit schemes for customers to choose from, as per their requirement. These schemes help customers multiply their savings with the help of attractive FD interest rates.
Detailed information about the schemes along with the updated Ujjivan Bank FD rates across tenure is given below.
Table of Contents
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Ujjivan Small Finance Bank FD Rates 2021
| Ujjivan Bank FD Rates (for deposits below Rs. 2 crore) | ||
| Tenure | Regular Citizens | Senior Citizens |
| 7 days to 29 days | 3.05% | 3.55% |
| 30 days to 89 days | 4.05% | 4.55% |
| 90 days to 179 days | 4.80% | 5.30% |
| 180 days to 364 days | 5.20% | 5.70% |
| 1 year to 2 years | 6.50% | 7.00% |
| 2 years 1 day to 3 years | 6.75% | 7.25% |
| 3 years 1 day to 5 years | 6.75% | 7.25% |
| 5 years 1 day to 10 years | 5.80% | 6.30% |
(Interest rates effective from 5th March 2021)
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Ujjivan SFB – Types of FD Schemes
Ujjivan SFB (Small Finance Bank) has put forth three types of fixed deposit schemes to encompass the needs of different customers. These schemes are as stated below:
- Ujjivan Bank Regular Fixed Deposit
- Ujjivan Bank Tax Saver Fixed Deposit
- Ujjivan Bank Sampoorna Nidhi
Details of each FD scheme are explained further in the next section.
Features & Benefits of Ujjivan SFB FD Schemes
- Ujjivan Bank Regular Fixed Deposit
Ujjivan Bank Regular Fixed Deposit is a regular scheme by the bank which is designed to target the common investment needs of customers. Details about the same are:
| Particulars | Details |
| Tenure | 7 days – 10 years |
| Min. Deposit Amount | Rs. 1,000 |
| Interest Treatment | Interest calculated on a yearly basis Formula used:
Formula used:
|
| Rates for Senior Citizens | 0.5% extra over the standard Ujjivan Bank FD rates |
| Premature Withdrawal | Allowed |
| Features |
|
- Ujjivan Bank Tax Saver Fixed Deposit
To help customer save considerable income tax, USFB extends its tax-saving fixed deposit scheme. Under this scheme, customers can save up to Rs. 1.5 lakh/FY (u/s 80C). Further details about the scheme are tabulated below:
| Particulars | Details |
| Tenure | 5 years (lock-in) |
| Deposit Amount | Rs. 1,000 – Rs. 1.5 lakh |
| Interest Treatment | Quarterly calculation Discounted rates for monthly interest payout |
| Rates for Senior Citizens | 0.5 extra |
| Premature Withdrawal | Not Allowed (only in the case of first deposit holder’s demise or a statutory legal notice) |
| Features |
|
- Ujjivan Bank Sampoorna Nidhi
Ujjivan Bank Sampoorna Nidhi fixed deposit scheme is designed to allow its existing customers (who have a savings or current account with USFB) build a corpus while having a stable monthly money in-flow. Features and benefits of the scheme are as detailed below:
| Particulars | Details |
| Tenure | 1/2/3/4/5 years |
| Min. Deposit Amount | Rs. 25,000 (in multiples of Rs. 1,000 thereafter; e.g. Rs. 26,000, Rs. 50,000) |
| Interest Treatment | Interest calculated monthly at discount rates (Less 0.05%) |
| Rates for Senior Citizens | 0.5% extra |
| Premature Withdrawal | Available after 6 months from the date of opening |
| Features |
|
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Ujjivan SFB FD - Premature Withdrawal
Ujjivan Small Finance Bank (USFB) provides FD investors with the option to withdraw their money before the FD matures. The following points are worth mentioning:
- Regular deposits come with partial withdrawal and premature closure facility
- Tax saver FD is not allowed for premature withdrawal (partial or full)
- Under the Sampoorna Nidhi FD Scheme, premature withdrawal is allowed after 6 months from the date of booking
- Withdrawal before 7 days from the date of booking shall fetch zero interest
- All deposits up to Rs. 15 lakh are covered under the facility of premature withdrawal
- The bank may not allow premature withdrawal of deposits above Rs. 15 lakh (however, this information shall be imparted to the depositor at the time of booking)
- 1% penalty levied on premature closure or partial withdrawals made before completion of 6 months from the date of booking
Ujjivan Bank – FD Calculator
It is always good to know beforehand what to expect from an investment. Be it a risk-taking one like equity mutual funds or a safe investment option like fixed deposits. Therefore, use of a fixed deposit calculator, like the one available freely at Paisabazaar.com, is highly recommended before putting one’s money in any of the schemes by Ujjivan SFB.
To use this calculator, one only requires three basic details, viz. deposit amount, tenure of deposit and applicable FD rate. This rate can be checked here from the updated list of Ujjivan Bank FD Rates.
On submitting these details, FD calculator shall present the data which will give separate demarcations in the following format:
| Fixed Deposit Return Amount | ||
| _ is your principal amount | _ is your maturity amount | _ is your interest amount |
Eligibility Criteria – How to apply?
The following persons can open a fixed deposit account with Ujjivan Small Finance Bank:
- Resident individual
- Hindu Undivided Family (HUF)
- Limited Companies
Documents Required for Opening USFB FD
The following documents/details (all or some) may be asked at the time of opening a fixed deposit account with the bank along with the application form:
How to Apply for Ujjivan Bank Fixed Deposits?
To open any of the above-stated fixed deposit schemes by USFB, customers can walk-in to a nearby branch along with the required documents post which a bank’s representative shall walk them through the application/booking process.
However, the Regular FD scheme, as well as the Tax Saver FD scheme, can be opened online by following the steps stated below:
Step 1 – Go to the official website of Ujjivan Small Finance Bank (make sure to open using a safe network).
Step 2 – Follow this sequence: Explore Products > Deposits > Fixed Deposits/ Tax Saver Fixed Deposits/ Sampoorna Nidhi.
Step 3 – On the page thus redirected, click on ‘Apply Now’.
Step 4 – An enquire form will open on a new tab. Fill the same.
Step 5 – On entering all the details correctly, submit the form by clicking on ‘Apply Now’.
Step 6 – An OTP will be sent to the mobile number entered in the form. Enter the same and ‘Confirm’.
A pop-up will appear indicating that the application request has been submitting and a bank’s representative shall contact the applicant shortly.
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Frequently Asked Questions (FAQs)
Q. What is the highest Ujjivan Bank FD rate?
Currently, 6.75% for 2 Years and 1 Day is the highest one can fetch from Ujjivan Small Finance Bank FD rates.
Q. What if the bank defaults? Is it safe to invest in Ujjivan Bank fixed deposits?
Ujjivan Small Finance Bank is listed in the Scheduled Banks by RBI and has a stable credit rating by various credit rating agencies. Also, the deposits made with the bank are covered with Rs. 5 lakh insurance by Deposit Insurance Credit Guarantee Corporation. So if the bank defaults, customers will be given a compensation of Rs. 5 lakh.
Q. Can I online apply for Ujjivan Bank fixed deposits?
Yes. Regular fixed deposits and Tax Saver fixed deposits can be opened online. Click here to know how to online apply for Ujjivan Bank fixed deposits.