Latest Utkarsh Small Finance Bank FD charges: Senior citizens get up to 9.10%, general customers up to 8.5% – check revised list | India Business News


Utkarsh Small Finance Bank FD charges: Utkarsh Small Finance Bank has revised its fastened deposit (FD) rates of interest for quantities under Rs 2 crore, with the adjustments efficient from May 1, 2024. The revised charges apply to each new deposits and renewals of current FDs.

Fixed deposit charges for general customers

According to ET, Utkarsh Small Finance Bank supplies fastened deposit rates of interest between 4% and eight.5% for normal customers, with phrases starting from seven days to 10 years.The finest fee, 8.5%, is accessible for FDs that mature between two and three years.

Special FD charges for senior citizens

Senior citizens obtain fastened deposit rates of interest starting from 4.6% to 9.10% at Utkarsh Small Finance Bank. The highest fee of 9.10% is for FDs with a maturity of two to three years.
ALSO READ | RBL Bank newest FD charges: Earn up to 8.75% rate of interest; check list of revised fastened deposit charges

FD rates of interest breakdown

After the speed adjustments, the small finance financial institution now supplies a 4% rate of interest for fastened deposits maturing between seven and 45 days. If the FD matures between 46 and 90 days, the speed is 4.75%.

Sr. Regular Senior Citizens
No. Tenure Interest Rate Interest Rate
1 7 Days to 45 Days 4.00% 4.60%
2 46 Days to 90 Days 4.75% 5.35%
3 91 Days to 180 Days 5.50% 6.10%
4 181 Days to 364 Days 6.50% 7.10%
5 365 Days to 699 Days 8.00% 8.60%
6 700 Days to lower than 2 Years 8.25% 8.85%
7 2 Years (730 Days) to 3 Years (1096 8.50% 9.10%
8 Above 3 Years to lower than 4 Years 8.25% 8.85%
9 4 Years (1461 Days) upto 5 Years 7.75% 8.35%
(1826 Days)
10 Above 5 Years to 10 Years 7.25% 7.85%

Source: Bank web site

Premature withdrawal penalty

As said on the Utkarsh Small Finance Bank web site, in case you withdraw your fastened deposit early, there is a 1% penalty. This penalty would not apply in case you shut the deposit inside seven days. The 1% is deducted from the present fee for the interval your deposit was with the financial institution, or from the agreed-upon fee, whichever is decrease.

Deposit insurance coverage

Deposits in small finance banks are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC) for up to Rs 5 lakh. This signifies that if the financial institution faces monetary bother, your deposit is protected up to this restrict.

Nilesh Desai
Nilesh Desai
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.


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