Ujjivan Small Finance Bank has launched two new tenures of retail fixed deposits -- 75 weeks (525 days) and 75 months, both carry the highest rate of 7.5 per cent per annum. The Bank has also increased the interest rates on fixed deposits by up to 1.5 percent, with effect from August 9, 2022.
It has increased the rate on fixed deposits by 30-150 basis points (or 0.3-1.50 percent) across different tenures. The additional rate for senior citizens is now revised to 0.75 percent from 0.50 percent. The new rates are applicable on deposits below Rs 2 crore.
Ujjivan Small Finance Bank (USFB) offers small finance to underserved & unserved segments in India. The bank aims to work for the financial inclusion of the country.
