This bank offers inflation-beating FD interest rates of up to 8.75% for senior citizens

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Just like other banks, Ujjivan Small finance Bank also offers higher interest rates on various tenors to senior citizens. The bank offers 0.75% higher interest rate for senior citizens.
Ujjivan Small Finance Bank offers interest rates between 3.75% and 8% to regular citizens and up to 8.75% for senior citizens. The new rates are applicable from November 5, 2022.The bank offers highest interest rate for regular customers is 8% for an FD tenure of 80 weeks (560 days). For senior citizens the interest rate is 8.75% for the 80-week FD tenure.

Latest FD rates

Tenure BucketExisting RatesRevised Rates
80 weeks (560 days)7.20%8.00%
990 days7.50%7.75%
12 Months 1 day to 559 days7.20%7.50%
561 days to 989 days7.00%7.50%
991 days to 60 months7.00%7.20%
60 months 1 day to 120 months6.00%6.50%

Interest pay-out choices from Ujjivan SFB include monthly, quarterly, and upon maturity. Five years are the lock-in term for the Tax Saver Fixed Deposits.

According to the Ujjivan Small Finance Bank press release, “Customers can invest a minimum of above Rs. 15 lakhs to below Rs. 2 Crores under the plan. The Platina FD is non-callable, i.e. partial and premature withdrawal facility is not available in this scheme.”

Other Small Finance Bank
After the interest rate is revised on November 15, 2022, Jana Small Finance Bank is offering 8.50% on FDs to senior citizens. Meanwhile, Unity Small Finance Bank is paying 9% return on fixed deposits to senior citizens.

On FD tenures ranging from 7 days to 10 years, ESAF Small Finance Bank (ESAF SFB) now offers interest rates ranging from 4.00% to 8% for the general public and 4.50% to 8.50% for senior persons. According to the bank’s website, the revised FD interest rates will take effect on November 1, 2022 (valid till November 30, 2022.)

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