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Ujjivan Small Finance Bank (SFB), a DICGC-insured lender, has raised interest rates on its Platina Fixed Deposit special term deposit plan. Platina Fixed Deposits can be booked for maturities ranging from 12 months to 60 months, with deposits ranging from Rs.15 lakhs to Rs.2 crores. However, investors should be aware that the Ujjivan Small Finance Bank Platina Fixed Deposit scheme is a non-callable deposit instrument, which means that depositors cannot make partial or premature withdrawals from this retail term deposit scheme.
Ujjivan Small Finance Bank Platina Fixed Deposit Interest Rates
The bank revised its interest rates on June 13, 2022, and as a result of the modification, the bank now offers an interest rate of 6.90 per cent on 12-month deposits, up from 6.705 per cent previously, a 20 basis point increase. The bank’s interest rate on deposits of 12 months and 1 day to 15 months has remained steady at 6.20 per cent. The bank will now provide an interest rate of 7.20 per cent on Platina fixed deposits maturing in 15 months and 1 day to 18 months, up from 6.95 per cent before, a 25 basis point increase.
Ujjivan SFB will now provide an interest rate of 6.80 per cent on Platina FDs maturing in 18 months and 1 day to less than 24 months, and an interest rate of 7.30 per cent on deposits maturing in 24 months, up from 7.10 per cent before, a 20 basis point increase. Deposits maturing in 24 months 1 day to 989 days will now earn an interest rate of 6.70 per cent, up from 6.85 per cent before, a 15 basis point increase, while deposits maturing in 990 days will pay an interest rate of 7.40 per cent, up from 7.45 per cent previously.
The interest rate on deposits from 991 days to 36 months will be 6.70 per cent, up from 6.85 per cent previously, while the interest rate on deposits from 36 months 1 day to 42 months will be 6.45 per cent. Furthermore, the bank will now provide an interest rate of 7.40 per cent on long-term Platina deposits ranging from 42 months 1 day to 60 months. Senior citizens will receive an additional rate benefit of 0.50 per cent over the regular rate across all tenors of Ujjivan SFB’s Platina Fixed Deposit plan. The bank provides a maximum interest rate of 7.40 per cent to non-senior citizens and 7.90 per cent to senior citizens on Platina fixed deposits maturing in 990 days and 42 months 1 day to 60 months respectively.
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