Utkarsh Small Finance Bank Fixed Deposits interest rates
Udkarsh Small Finance Bank has revised interest rates on Fixed Deposits (FD) below Rs 2 crore.
The revised rates are effective from May 1, 2024. The revised rates are applicable for new fixed deposits and renewal of existing fixed deposits.
Interest rates
Utkarsh Small Finance Bank offers interest rates ranging from 4% to 8.50% on fixed deposits with maturities ranging from seven days to 10 years to regular citizens.
Fixed deposits with maturities of two to three years offer a maximum interest rate of 8.5%.
Senior Citizens FD Rate
For senior citizens, fixed deposit interest rates vary from 4.6% to 9.10%. Utkarsh Small Finance Bank offers senior citizens a higher interest rate of 9.10% on fixed deposits with maturities of two to three years.
Utkarsh Small Finance Bank FD Interest Rates
| Deposit period | Interest (%) | Senior Citizen Interest (%) |
| 7 to 45 days | 4.00 p.m | 4.60 |
| 46 to 90 days | 4.75 | 5.35 |
| 91 to 180 days | 5.50 | 6.10 |
| 181 to 364 days | 6.50 | 7.10 |
| 365 days to 699 days | 8.00 | 8.60 |
| 700 days is less than 2 years | 8.25 | 8.85 |
| 2 years to 3 years | 8.50 | 9.10 |
| Within 3 years to 4 years | 8.25 | 8.85 |
| 4 years to 5 years | 7.75 | 8.35 |
| Above 5 years to 10 years | 7.25 | 7.85 |
Penalty
Premature closure of Utkarsh FD will attract a penalty of 1 percent. Sometimes there are some changes in this.
It is better to ask the bank officials for this. It is to be noted that usually small finance banks provide insurance for deposits up to Rs.5 lakh.
