The bank announced this change on Thursday and said that now customers will get maximum 7 percent interest on their savings account. At the same time, the bank will now give interest ranging from 2.90 to 7.10 percent on FD to its customers.
New Delhi. Ujjivan Small Finance Bank (SFB) has revised the interest rate on its savings accounts. The bank announced this change on Thursday and said that now customers will get maximum 7 percent interest on their savings account. Apart from this, the bank will continue to pay 3.5 percent interest on savings accounts up to Rs 1 lakh.
The bank will give 6 percent interest on savings up to Rs 1-5 lakh. At the same time, customers with savings of Rs 5 lakh to Rs 1 crore will get the maximum interest of 7 percent. Customers with savings of Rs 1-10 crore will get interest only at the rate of 6 per cent. Interest of 6.75 percent will be available on savings account of more than Rs 10 crore. In this way, most of the savings account customers of the bank are now expected to get the highest interest rate of 7 percent.
What were the rates earlier,
the bank used to give interest at the rate of 7 percent on savings account up to Rs 1-25 lakh. Whereas, on savings account of more than Rs 25 lakh and Rs 10 crore, interest was given at the rate of 6 percent. The bank does not give special interest rate to senior citizens. The bank calculates the interest on the balance remaining in your account till the end of the day and pays it every quarter. It is worth noting that if you have Rs 1,20,000 in your savings account, then you will get 3.5 percent interest on Rs 1 lakh and 6 percent on Rs 20,000. Apart from this, on May 19, DCB Bank has also announced changes in interest rates on savings accounts. At present, DCB Bank gives 6.75 percent interest.
The bank also changed the rates of fixed deposits,
Ujjivan Small Finance Bank has also changed the rates of interest on fixed deposits from May 19 on FDs of less than Rs 2 crore. Now interest from 2.90 to 7.10 percent to customers. The interest rates will depend on the maturity of your fixed deposit. However, the highest rate of 7.10 will be available for FDs with maturity of 990 days. For FDs of more than this day, the interest will be 6-6.25 percent. The bank will give an additional .50 percent interest to senior citizens. Explain that the maturity tenure of the bank’s fixed deposits ranges from 7 days to 10 years.
Shriram Transport Changes FD Interest Rates
Shriram Transport Finance Company Limited (STFC) has also changed the interest rates of its fixed deposits, which have come into effect from May 20. There is no change in the interest rate of FDs for 12 and 24 months. Apart from this, on FDs of 36, 48 and 60 months, it has increased by 15 basis points (0.15 per cent) to 25 basis points (0.25 per cent). The interest rate on FD from the company’s website has been increased by 20 to 25 basis points.
