Get up to 8.50% Fixed Deposit(FD) and Recurring Deposit (RD) Interest rates in Utkarsh Small Finance Bank

 Best High Fixed Deposit(FD) and Recurring Deposit (RD) Interest rates in Utkarsh Small Finance Bank

Recurring Deposits

Become future ready with Utkarsh Small Finance Bank’s Recurring Deposit scheme. It is just like your personal piggy bank, but the one that lets you avail competitive returns with a host of benefits. Now invest your monthly surplus in our Recurring Deposit scheme and give your funds a steady growth. To help you get started, we accept investment amount as little as  100.

Note:

 Minimum tenor of the recurring deposit offered would be six month.

 Penalty on premature withdrawal is 1 % (not applicable for closure within 7 days) i.e. 1 %

less than the card rate as on the date of deposit, for the period for which the deposit has

remained with the Bank or 1% less than the contracted rate, whichever is lower.

 For Recurring Deposits, in case of premature closure within a month, no interest shall be

paid out to the customer & only the principal amount shall be returned. No premature

withdrawal penalty shall be charged if the closure happens within a month.

 Interest rates are subject to change from time to time. Deposits will be booked post receipt

of clear funds with the Bank at applicable interest rate as on the date of receipt of funds.

 For Recurring Deposits, the interest on Deposits is compounded at quarterly intervals, at

the applicable rates. The interest will be calculated from the date the instalment is paid.

 The Recurring Deposit shall mature on completion of the contracted tenure even if there

are instalments remaining to be paid.

 Above rates are applicable for fresh recurring deposits.

 Interest earned will be subject to Tax Deducted at Source as per Income Tax Act and Rules.

 Recurring Deposits amount should be in multiple of Rs. 100 only.

 Tenure of RD should be in multiple of 3 months.

Bank reserves the right to make any changes in terms and conditions mentioned & the same will be updated on the Bank’s website www.utkarsh.bank

Fixed Deposits

An early start on your savings with Utkarsh Small Finance Bank can help you fulfil your dreams. Fixed Deposit is a one-time investment plan that gives you competitive return at the end of the term. The rate of interest paid for fixed deposits varies based on tenure and amount, and higher interest rates are offered to senior citizens. Premature closure is permitted.

Note:

 Minimum tenor of the deposit offered would be seven days.

 Penalty on premature withdrawal is 1 % (not applicable for closure within 7 days) i.e. 1 %

less than the card rate as on the date of deposit, for the period for which the deposit has

remained with the Bank or 1% less than the contracted rate, whichever is lower.

 For Tax Saver Fixed Deposit, please refer Tax Saver’s Interest Rate card.

 Interest rates are subject to change from time to time. Deposits will be booked post receipt

of clear funds with the Bank at applicable interest rate as on the date of receipt of funds.

 Above rates are applicable for fresh fixed deposits as also for renewal of existing fixed

deposits.

 Interest earned will be subject to Tax Deducted at Source as per Income Tax Act and Rules.

 For Term Deposits with tenure below 181 days, interest will be calculated on maturity on

Simple Interest basis.

 Interest on Term Deposit can be paid for a period of less than a quarter (monthly pay-out)

at the discounted interest rates as per RBI directives.

 No interest is payable for deposits prematurely withdrawn within the period of 7 days from

the date of deposit.

 For interest rates of bulk deposits (Rs. 2 Crore and above), please contact the nearest

Utkarsh Small Finance Bank Branch.

Bank reserves the right to make any changes in terms and conditions mentioned & the same will be updated on the Bank’s website www.utkarsh.bank