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Ujjivan Small Finance Bank News
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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.
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The new rates are in effect from yesterday, November 5.
The bank offers an interest rate of 8.2% for senior citizens.
Platina FD rates are applicable for deposits above Rs 15 lakh & below Rs 2 crore.
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The bank had posted a net profit of Rs 136 crore in the same quarter of the last fiscal year.
Total income during the quarter under review increased to Rs 920 crore.
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Most small finance banks offer higher interest rates.
Bank customers can easily switch to small finance banks to earn a better interest rate on their savings.
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The interest rate has been raised to 6.5 percent for a 12-month term.
Previously, the rates for these tenures were 6%.
The revised rates will take effect on December 9, 2021.
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The decision was taken based on the recommendation of the audit committee and committee of independent directors.
Ujjivan Financial Services will be merged with Ujjivan Small Finance Bank.
The amalgamation is subject to approval from the Reserve Bank of India (RBI).
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A few small finance banks are offering up to a 7% interest rate on fixed deposits maturing in a year.
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