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Utkarsh Small Finance Bank Fixed Deposit Rates

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Mar 20, 2024

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Introduction:

Utkarsh Small Finance Bank, recognized and reliable in India, has gained the RBI's recognition. Presently, the bank offers exciting FD interest rates ranging from 4.00% to 8.25% per annum for general citizens. Senior citizens can enjoy rates of 4.60% to 8.85% on five-year tenures.

Being recognized by the RBI, Utkarsh Small Finance Bank provides its investors with deposit insurance facilities provided by DICGC. Investors are covered for assured growing deposits up to Rs. 5 lakhs, including savings, deposits, current, and recurring deposits.

Interest Rates on Domestic Fixed Deposits (less than Rs.2 crores) at Utkarsh Small Finance Bank

Term General Citizen (p.a.) Senior Citizen (p.a.)

7 Days to 45 Days 4.00% 4.60%

46 Days to 90 Days 4.75% 5.35%

91 Days to 180 Days 5.50% 6.10%

181 Days to 364 Days 6.50% 7.10%

365 Days to 699 Days 7.75% 8.35%

700 Days to 999 Days 8.00% 8.60%

1000 Days to 1500 Days 8.25% 8.85%

1501 Days to up to 5 Years 7.50% 8.10%

Above 5 Years to 10 Years 7.00% 7.60%

Eligibility for Utkarsh Small Finance Bank FD Account

Before applying for Utkarsh FD rates, customers must meet certain eligibility criteria set by Utkarsh Small Finance Bank. The following categories are eligible to open an account:

- Citizens of India

- Any Individual

- Minors

- Body of Individuals

- Hindu Undivided Family

- LLP

- Companies, Societies, or Trusts

Documentation Required for Utkarsh Small Finance Bank FD Account

To open an FD account at Utkarsh Small Finance Bank, applicants must provide mandatory documents, including:

- PAN and KYC documents

- Passport size photograph

Additionally, specific documents are required for different types of applicants, as listed below:

Categories Documents

HUF Declaration of HUF

Trust Copies of the Trust Deed, Registration Certificate, Resolution of the Trustees

Partnership Firm Partnership Deed, Letter from Partners' Agreement

Clubs and Associations By-Laws of the Association, Board Resolution

Company Certificate of Incorporation, Memorandum, Articles of Association, Board Resolution, ID Proofs

Interest Rates for Fixed Deposits at Utkarsh Small Finance Bank

Utkarsh Bank offers convenient FD interest rates, making it an attractive choice for investment purposes. The fixed deposit interest rates are as follows:

Term General Citizen (p.a.)

7 Days to 45 Days 4.00%

46 Days to 90 Days 4.75%

91 Days to 180 Days 5.50%

181 Days to 364 Days 6.50%

365 Days to 699 Days 7.75%

700 Days to 999 Days 8.00%

1000 Days to 1500 Days 8.25%

1501 Days to up to 5 Years 7.50%

Above 5 Years to 10 Years 7.00%

Premature Withdrawal of Funds

- Only individuals are eligible for nomination.

- In joint deposit accounts, the nominee's rights become effective only after all depositors have passed away.

- Changing the account's title due to additions or deletions automatically cancels the existing nomination, requiring a new nomination for the facility.

- The depositor can change the nomination multiple times before the term deposit matures.

Utkarsh Small Finance Bank Fixed Deposit Rates - Frequently Asked Questions

- Interest will be paid after subtracting the punitive rate (1%) from the relevant rate. The lower rate of interest effective during the investment period or the rate at which the FD stayed with the bank will apply.

- The penalty for early withdrawal does not apply if the transaction is completed within 7 days.

Eligibility for Nomination Facilities

Utkarsh Small Finance Bank FD investors have various nomination options available:

- Deposit accounts such as safe deposit items and locker accounts.

- All individual(s) and single proprietor accounts require nomination.

- The depositor can choose to have the nominee's name printed on the passbook and term deposit receipt at no extra cost for individual and single proprietor accounts.

- A witness must testify to the account holder's thumbprint on the nomination form.

- Only individuals are eligible for nomination.

- In joint deposit accounts, the nominee's rights become effective only after all depositors have passed away.

- Changing the account's title due to additions or deletions automatically cancels the existing nomination, requiring a new nomination for the facility.

Introduction:

Interest Rates on Domestic Fixed Deposits (less than Rs.2 crores) at Utkarsh Small Finance Bank

Term General Citizen (p.a.) Senior Citizen (p.a.)

7 Days to 45 Days 4.00% 4.60%

46 Days to 90 Days 4.75% 5.35%

91 Days to 180 Days 5.50% 6.10%

181 Days to 364 Days 6.50% 7.10%

365 Days to 699 Days 7.75% 8.35%

700 Days to 999 Days 8.00% 8.60%

1000 Days to 1500 Days 8.25% 8.85%

1501 Days to up to 5 Years 7.50% 8.10%

Above 5 Years to 10 Years 7.00% 7.60%

Eligibility for Utkarsh Small Finance Bank FD Account

Before applying for Utkarsh FD rates, customers must meet certain eligibility criteria set by Utkarsh Small Finance Bank. The following categories are eligible to open an account:

- Citizens of India

- Any Individual

- Minors

- Body of Individuals

- Hindu Undivided Family

- LLP

- Companies, Societies, or Trusts

Documentation Required for Utkarsh Small Finance Bank FD Account

To open an FD account at Utkarsh Small Finance Bank, applicants must provide mandatory documents, including:

- PAN and KYC documents

- Passport size photograph

Additionally, specific documents are required for different types of applicants, as listed below:

Categories Documents

HUF Declaration of HUF

Trust Copies of the Trust Deed, Registration Certificate, Resolution of the Trustees

Partnership Firm Partnership Deed, Letter from Partners' Agreement

Clubs and Associations By-Laws of the Association, Board Resolution

Company Certificate of Incorporation, Memorandum, Articles of Association, Board Resolution, ID Proofs

Interest Rates for Fixed Deposits at Utkarsh Small Finance Bank

Utkarsh Bank offers convenient FD interest rates, making it an attractive choice for investment purposes. The fixed deposit interest rates are as follows:

Term General Citizen (p.a.)

7 Days to 45 Days 4.00%

46 Days to 90 Days 4.75%

91 Days to 180 Days 5.50%

181 Days to 364 Days 6.50%

365 Days to 699 Days 7.75%

700 Days to 999 Days 8.00%

1000 Days to 1500 Days 8.25%

1501 Days to up to 5 Years 7.50%

Above 5 Years to 10 Years 7.00%

Premature Withdrawal of Funds

- Only individuals are eligible for nomination.

- In joint deposit accounts, the nominee's rights become effective only after all depositors have passed away.

- Changing the account's title due to additions or deletions automatically cancels the existing nomination, requiring a new nomination for the facility.

- The depositor can change the nomination multiple times before the term deposit matures.

Utkarsh Small Finance Bank Fixed Deposit Rates - Frequently Asked Questions

- The penalty for early withdrawal does not apply if the transaction is completed within 7 days.

Eligibility for Nomination Facilities

Utkarsh Small Finance Bank FD investors have various nomination options available:

- Deposit accounts such as safe deposit items and locker accounts.

- All individual(s) and single proprietor accounts require nomination.

- The depositor can choose to have the nominee's name printed on the passbook and term deposit receipt at no extra cost for individual and single proprietor accounts.

- A witness must testify to the account holder's thumbprint on the nomination form.

- Only individuals are eligible for nomination.

- In joint deposit accounts, the nominee's rights become effective only after all depositors have passed away.

- Changing the account's title due to additions or deletions automatically cancels the existing nomination, requiring a new nomination for the facility.