Senior Citizens Fixed Deposit Interest Rates in Ujjivan Small Finance Bank

Ujjivan Small Finance Bank has always prioritised the financial well-being of its senior clientele, offering them enhanced fixed deposit schemes tailored to their unique requirements. Understanding the importance of financial stability in the golden years, Ujjivan Small Finance Bank's FD scheme for senior citizens provides a premium on interest rates compared to those available to the general populace. Let's delve deeper into the special provisions and features of this scheme.

• Enhanced Interest Rates: Typically, senior citizens benefit from a bonus interest rate over and above the regular FD rates offered to other customers. The exact rate is contingent on the bank's prevailing policies.
• Qualification: Only individuals who are 60 or older are eligible to open a senior citizen FD account.
• Duration: The available FD tenures range widely, spanning from as short as 7 days to as long as 10 years.
• Early Withdrawal: Although breaking the FD before its maturity can incur penalties, senior citizens often enjoy more lenient terms for such premature withdrawals.
• Borrowing Options: Like other account holders, senior citizens can avail loans against their FD holdings if needed.
• Beneficiary Assignment: Upon the unfortunate event of an account holder's demise, Ujjivan Small Finance Bank  ensures a hassle-free transition of the FD funds to a designated beneficiary.
• Tax Deduction at Source (TDS) Implications: Interest earnings from FDs are liable to taxation as per Indian regulations. However, by furnishing Form 15H, eligible senior citizens can sidestep TDS deductions.
• Automatic Renewal: Many banks, possibly including Ujjivan Small Finance Bank , provide an automatic renewal facility, ensuring the FD's continuation post its maturity unless instructed otherwise by the depositor.
• Deposit Limits: There are often established minimum deposit requirements for opening a senior citizen FD. However, the deposit amount may not always be a set upper limit.
• Unique Offerings: Sometimes, or based on specific bank campaigns, senior citizens might be presented with exclusive offers or features tailored just for them.

Note: All interest rates shown above are as on 4th Aug 2023

• Ujjivan Small Finance Bank extends its 'Senior Citizen FD' offering to individuals celebrating their 60th birthday. 
• Such FD schemes often provide enhanced interest rates, adding more value to the senior citizen's investment. 
• Furthermore, schemes like the Senior Care FD offer additional interest, although certain schemes might exclude NRIs from these benefits.

The subsequent list of documents is essential when a senior citizen intends to invest in a Ujjivan Small Finance Bank  fixed deposit:

Identity Proof

• Aadhaar card
• Voter ID
• Ration card
• Passport
• PAN card
• Driving Licence

Address Proof

• Bank Statement
• Cancelled Cheque
• Utility Bills