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% |
| Days) | |||
| 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.
