Product Details
Bank Name
Ujjivan Small Finance Bank
Eligibility
Only Indian residents and members of Hindu undivided family (HUF) are eligible
Interest Rate
7.20%
Tenure
5-year lock-in-period
Fixed Deposit Type
Tax Saver Fixed Deposits
Tax Saver Fixed Deposits
Tax Benefits
Tax exemption under Section 80C of Income Tax Act, 1961
Credit Ratings
CRISIL A1+
Interest Payment Frequency
Monthly, quarterly or on maturity. Typically for fixed deposits having interest payment at maturity, compound interest is applicable and for fixed deposits having monthly interest payment, simple interest is applicable. Typically fixed deposits having a tenure of one year or less, simple interest is applicable. It is best to consult the bank officials before you book a fixed deposit.
Cummulative/Non-Cummulative
No information provided
Features
Tax exemption under Section 80C of Income Tax Act, 1961 Minimum amount of Rs.1000 and maximum of Rs.1,50,000 in a FY Premature withdrawal, partial withdrawal, and Loan & Overdraft facility against Tax Saver Fixed Deposit are not allowed.
Minimum Investment Amount
Rs.1,000
Features & Benefits
Pros
Tax benefit
Guaranteed returns
Safe and secure
Easy to open and manage
Cons
The 5-year lock-in period restricts your access to the funds.
Pros & Cons
Account Opening Procedure
How to Open?
Application Procedure
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