Utkarsh SFB raises fixed deposit rates this term: Inside details

Utkarsh Small Finance Bank FD Rate

The Bank will continue to apply an interest rate of 4% for fixed deposits with a term from 7 days to 45 days and an interest rate of 4.25% for a fixed deposit with a term from 46 days to 90 days. Fixed deposits with a term of 91 to 180 days will continue to pay 5% interest, while deposits with a term of 181 to 364 days will continue to pay a 6% interest rate. For fixed deposits with a term from 365 days to 699 days, Utkarsh Small Finance Bank will continue to offer an interest rate of 7.15%, while for fixed deposits with a term From 700 days to 5 years, the bank increased the interest rate by 25 basis points. scores, from 7.25% to 7.50%. The bank will continue to offer an interest rate of 6.25% for fixed deposits with terms from 5 to 10 years.

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Utkarsh Small Finance Bank stated on its website that “The penalty for early withdrawal is 1% (not applicable for closing within 7 days) which is 1% less than the card interest rate. at the date of deposit, for the period during which the deposit remains with the Bank or 1% less than the contracted rate, whichever is lower. “

The bank has also stated on its website that “Term deposit interest can be paid for a period of less than one quarter (paid monthly) at a discounted rate as directed by the RBI. No interest is payable on deposits withdrawn before maturity within 7 days from the date of deposit. “

Utkarsh Small Finance Bank has also adjusted interest rates on recurring deposits. Recurring deposits with maturities up to 6 months to 9 months the bank is currently offering an interest rate of 6.50% and for RD deposits maturing in 12 months the bank will now offers an interest rate of 6.75%. For term deposits maturing in 15 months, the applicable interest rate is 7.00% and for deposits with maturity in 18 months, Utkarsh SFB will now offer an interest rate of 7.25%. For periodic deposits with terms from 21 months to over 21 months to less than 24 months, the bank will offer an interest rate of 7.50%. For RDs with a maturity of 24 months to 36 months, the bank will now offer a maximum interest rate of 8.00%. The bank will now offer an interest rate of 6.75% on RDs with maturities ranging from 3 to 10 years.

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