Now the bank will pay more interest on Tax Saver Fixed Deposit (FD) like normal FD. The lock-in period of Tax Saver FD is five years. Now if a customer makes an FD of Rs 1 lakh in the bank for 75 weeks, then he will get Rs 1,11,282 on maturity.
New Delhi. Ujjivan Small Finance Bank has increased the interest rates on fixed deposits of less than Rs 2 crore. The increased interest is applicable from 9th August 2022. The bank said on Tuesday that now customers will get 7.5 percent annual interest on fixed deposits maturing in 75 weeks, 75 months and 990 days. At the same time, senior citizens will get 0.75 percent more interest on FDs of all tenors.
Ujjivan Small Finance Bank will offer monthly, quarterly and interest payment options on maturity. The bank says that it will now pay more interest on tax-saver fixed deposits like normal FDs. The lock-in period of Tax Saver FD is five years. Now if a customer makes an FD of Rs 1 lakh in the bank for 75 weeks, then he will get Rs 1,11,282 on maturity. On the other hand, senior citizens will get Rs 1,12,466 on maturity on getting an FD of Rs 1 lakh for 75 weeks.
Now this will be the interest rate
The bank will pay 3.75 percent interest on FDs maturing in 7 days to 29 days. Similarly, the bank has decided to pay 4.25 percent interest on FDs maturing in 30 days to 89 days. The bank will pay 5.25 percent interest on the FD that is completed in six months. Customers will get 4.75 percent interest on fixed deposits maturing in 90 to 179 days. Now customers will get interest at the rate of 5.50 per cent per annum on FDs maturing in six months to less than 9 months. 5.75 percent interest will be available on FDs that are completed in 9 months.
FDs maturing in 75 months will get 7.5% interest
Customers will now get 6.25 percent interest on FDs maturing in 24 months and one day to 989 days, 6.50 percent on FDs of 990 days, and 7.50 percent on FDs maturing in 36 months and one day to 42 months. Similarly, FDs maturing from 991 days to 36 months will get interest at the rate of 6.50 per cent. 7.20 percent interest will now be available on FDs that are completed in 42 months one day to 60 months. 7.50 percent interest will be given on FDs maturing in 75 months. FDs maturing in 75 months to 120 months will get 6 percent interest.