Latest Utkarsh Small Finance Bank FD rates: Senior citizens get up to 9.10%, general customers up to 8.5% - check revised list - Premiums.in

Utkarsh Small Finance Bank FD rates: Utkarsh Small Finance Bank has revised its fixed deposit (FD) interest rates for amounts below Rs 2 crore, with the changes effective from May 1, 2024. The revised rates apply to both new deposits and renewals of existing FDs.

Fixed deposit rates for general customers

According to ET, Utkarsh Small Finance Bank provides fixed deposit interest rates between 4% and 8.5% for regular customers, with terms ranging from seven days to 10 years. The best rate, 8.5%, is available for FDs that mature between two and three years.

Special FD rates for senior citizens

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

FD interest rates breakdown

After the rate changes, the small finance bank now provides a 4% interest rate for fixed deposits maturing between seven and 45 days. If the FD matures between 46 and 90 days, the rate 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 less than 2 Years	8.25%	8.85%
7	2 Years (730 Days) to 3 Years (1096	8.50%	9.10%
7	Days)	8.50%	9.10%
8	Above 3 Years to less than 4 Years	8.25%	8.85%
9	4 Years (1461 Days) upto 5 Years	7.75%	8.35%
9	(1826 Days)	7.75%	8.35%
10	Above 5 Years to 10 Years	7.25%	7.85%

Source: Bank website

Premature withdrawal penalty

As stated on the Utkarsh Small Finance Bank website, if you withdraw your fixed deposit early, there’s a 1% penalty. This penalty doesn’t apply if you close the deposit within seven days. The 1% is deducted from the current rate for the period your deposit was with the bank, or from the agreed-upon rate, whichever is lower.

Deposit insurance

Deposits in small finance banks are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC) for up to Rs 5 lakh. This means that if the bank faces financial trouble, your deposit is protected up to this limit.
Republished. Link to Original Article: https://timesofindia.indiatimes.com/business/india-business/latest-utkarsh-small-finance-bank-fd-rates-senior-citizens-get-up-to-9-10-general-customers-up-to-8-5-check-revised-list/articleshow/109947757.cms