Ujjivan Small Finance Bank FD Interest Rates
Ujjivan Small Finance Bank FDs have tenures starting from 1 year to 2 years with a maximum rate of interest of 6.50%. Interest rates for senior citizens are above the traditional rates and range upto 7.00%.
Features of Ujjivan Small Finance Bank FD
Ujjivan Small Finance FDs are one the safest investment option available for depositors who are looking to take a position during a fixed income instrument and earn higher returns than a bank account. Key Features of Ujjivan Small Finance Bank Fixed Deposit are:
- Deposit Amount: DCB Bank FD are often opened with an amount.
- FD Tenure: Ranges between 7 days to 36 months.
- Interest Rate Range: 4.25% p.a. to 6.75% p.a.
- Senior Citizens FD Rate: 4.75% to 7.25% p.a.
- Highest Interest Rate: As per today’s rate, DCB Bank’s highest rate of interest on FD is 6.75% offered for a tenure of 36 months.
- Safety of DCB Bank Deposits: DCB Bank deposits are covered under the Deposit Insurance Scheme of RBI during which up to ₹ 5 lakh of all deposits of a depositor are insured by DICGC.
- Loan against FD: DCB Bank provides loans against FD to assist its depositor to meet their liquidity requirements without breaking the FD.
- Auto-Renewal Facility: Available
- Nomination Facility: Available
Ujjivan Small Finance Bank Fixed Deposit Rates
| Tenure | FD Interest Rates |
Senior Citizen FD Interest Rates
|
| 7 days to 14 days | 4.25% | 4.75% |
| 15 days to 45 days | 4.80% | 5.30% |
| 46 days to 90 days | 4.75% | 5.25% |
| 91 days to 179 days | 5.50% | 6.00% |
| 700 days | 6.70% | 7.20% |
Top 10 Tax Saver FD Interest Rates
| Name of the Bank Saving FD | Interest rate offered to General Citizens (p.a.) | Interest rate offered to Senior Citizens (p.a.) |
| SBI Bank Tax Saving FD | 5.30% | 6.20% |
| Private Bank Tax Saving FD | 5.35% | 5.85% |
| HDFC Bank Tax Saving FD | 5.30% | 5.80% |
| Canara Bank Tax Saving FD | 5.50% | 6.00% |
| Axis Bank Tax Saving FD | 5.75% | 6.25% |
| Bank of Baroda Tax Saving FD | 5.30% | 5.80% |
| IDFC Bank Tax Saving FD | 5.75% | 6.25% |
| Corporation Bank Tax Saving FD | 5.45% | 5.95% |
| PNB Tax Saving FD | 5.30% | 5.80% |
| IDBI Bank Tax Saving FD | 5.10% | 5.60% |
Documents required to open Fixed Deposit Account in Ujjivan Small Finance Bank
| Category | Documents Required |
| Individual, HUF, Proprietor |
|
| Partnership Firm |
|
| Trust |
|
| Associations, Clubs |
|
| Company |
|
Ujjivan Small Finance Best FD Plans
Ujjivan Small Finance Bank fixed deposit calculator helps you to calculate the maturity value of your deposited amount at the rate of interest offered compounded quarterly. The number of fixed deposits, interest rates on FD, deposit tenure and compounding frequency of interest together determine the maturity amount of the FD at the top of the tenure.
Deposit amount – This is often the initial amount deposited by a customer in Ujjivan Small Finance Bank. Banks may allow a higher rate of interest on larger deposits. Ujjivan Small Finance Bank offers a deposit amount in the range of 1,000 to No Limit.
Rate of Interest – The rate of interest is that the rate charged by the bank on your fixed deposit. Ujjivan Small Finance Bank offers a better rate of interest on fixed deposits of longer tenure and a lower rate of interest on deposits of but a year. The highest rate of interest offered by Ujjivan Small Finance Bank is 6.50% for a deposit amount Below Rs. 2 crores like a deposit tenure of 1 year to 2 years.
Period of deposit – Bank offers a low rate of interest for brief tenure FDs and a better rate of interest for long tenure FDs. Bank offers a rate of 3.05% for a 1 year FD and a rate of 6.50% for a 2 years FD.
Interest Compounding Frequency – This determines the frequency at which interest is compounded. Compounding frequency are often monthly, quarterly, half-yearly, or annual frequency.
✅ What is that the highest interest earned on Ujjivan Small Finance Bank fixed deposit?
You can earn a maximum interest of 6.50% on Ujjivan Small Finance Bank fixed deposit.
✅How is Ujjivan Small Finance Bank FD interest calculated?
The formula to calculate interest on Ujjivan Small Finance Bank FD is
A = P(1+r/n)^nt
Here: A = Maturity amount
P = Invested amount
r = rate of interest as decimal
n = number of times interest is compounded
t = tenure of the deposit
However, you’ll use an online FD calculator to estimate the worth of interest earned on the deposited amount.
✅How a few years FD will double in Ujjivan Small Finance Bank?
The growth of Ujjivan Small Finance Bank FD depends on the speed of interest and tenure. There is a way called Rule 72, which computes the number of years it can fancy double one’s amount invested in Ujjivan Small Finance Bank FD. Now to use the rule, one needs the speed of interest we get on FD. Let’s say the interest offered on FD is 7.25%. Now applying the rule, just divide the amount 72 by the speed of interest. So 72/7.25 = 9.93. So it can take a touch quite 14 years for one’s investment to urge doubled in Ujjivan Small Finance Bank.
