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Utkarsh Small Finance Bank FD Rates

Home Fixed Deposit Utkarsh Bank FD Rates

Utkarsh Small Finance Bank offers FD interest rates of 4.00-8.50% p.a. to the general public and 4.75-9.10% p.a. to senor citizens on tenures ranging from 7 days to 10 years. The interest rate on Utkarsh Small Finance Bank Tax Saving FDs is 7.50% p.a. for the general public and 8.10% p.a. for senior citizen depositors for tenures of 5 years. Utkarsh Small Finance Bank has been recognised as a scheduled bank by the RBI, which makes its depositors eligible for deposit insurance provided by the Depositor Insurance and Credit Guarantee Corporation (DICGC). The deposit insurance cover from DICGC, an RBI subsidiary, insures cumulative deposits up to Rs 5 lakh made by each depositor, including his fixed deposits, savings, current, and recurring deposits, in each scheduled bank in case of the failure or merger/amalgamation of a scheduled bank.

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Updated: 03-02-2025 11:36:46 AM
Utkarsh Small Finance Bank FD Interest Rates (p.a.) Highlights
Highest slab rate 8.50% (for 2 years to 3 years; 1500 days)
For 1 year 8.00%
For 2 years 8.50%
For 3 years 8.50%
For 4 years 7.75%
For 5 years 7.75%
Tax-Saving FD 7.50%

The interest rates are updated as of 3 February 2025

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Utkarsh Small Finance Bank FD Interest Rates

FD Rates on Domestic deposits of less than Rs 3 crore w.e.f. 7 June 2024

Tenure Interest Rates (% p.a.)
Regular Customers Senior Citizens
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 8.00 8.60
700 days to less than 2 years 8.25 8.85
2 years (730 days) to 3 years (1096
days)		 8.50 9.10
Above 3 years to less than 4 years 8.25 8.85
4 years (1461 days) to 1499 days 7.75 8.35
1500 days 8.50 9.10
1501 days to 5 years (1826 days) 7.75 8.35
Above 5 years to 10 years 7.25 7.85

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Utkarsh Small Finance Bank Tax Saver Deposit w.e.f. 7 June 2024

Tenure Interest Rates (% p.a.)
Regular Customers Senior Citizens
5 years 7.50 8.10

Utkarsh Small Finance Bank Fixed Deposit Plus (FD without premature withdrawal facility) rates of deposits above Rs 1 crore to less than Rs 3 crore w.e.f. 7 June 2024

Tenure Interest Rates (% p.a.)
Regular Customers Senior Citizens
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 8.25 8.85
700 days to less than 2 years 8.50 9.10
2 years to 3 years 8.75 9.35
Above 3 years to less than 4 years 8.50 9.10
4 years (1461 days) to 1499 days 8.00 8.60
1500 days 8.75 9.35
1501 days to 5 years
(1826 days)		 8.00 8.60
Above 5 years to 10 years 7.50 8.10

Types of Utkarsh Small Finance Bank FD Schemes

Regular Fixed Deposits

  • Minimum deposit amount: Rs 1,000
  • Tenure: 7 days – 10 years
  • For FDs with a duration below 181 days, interest will be calculated on maturity on a simple interest basis
  • Monthly pay-out option is available where interest rates will be calculated at the discounted interest rates
  • Additional 0.60% p.a. interest rate on standard FD rates is offered to senior citizen depositors
  • No interest will be paid if the deposit is prematurely withdrawn within 7 days from the date of opening the FD

Fixed Deposit Plus (Without Premature Withdrawal Facility)

  • Depositors can earn higher interest than regular fixed deposits under this scheme
  • Deposit amount: Minimum- above Rs 1 crore; Maximum- less than Rs 2 crore
  • Tenure: 7 days to 10 years
  • Additional 0.60% interest rates are offered to senior citizens over regular FD interest rates
  • For FDs with tenure below 181 days, interest will be calculated on maturity at simple interest
  • Depositors can opt for monthly pay-outs (at a discounted rate), or a quarterly payout option
  • Depositors also have the option of receiving interest payout at maturity

Tax Saver Fixed Deposit

  • Deposits under this scheme are eligible for a tax deduction of up to Rs 1.5 lakh under Section 80C in each financial year
  • Deposit amount: Minimum- Rs 1,000; Maximum- Rs 1.5 lakhs
  • Tenure: 5 years (lock-in period)
  • Additional 0.60% interest rates are offered to senior citizens FD depositors
  • Monthly pay-outs (at a discounted rate) and quarterly payout options are available
  • Depositors also have the option of receiving interest payout at maturity
  • Premature/partial withdrawal, auto-renewal and loan & overdraft facility against deposit are not available
  • Nomination facility is available

Digital Fixed Deposit

  • Digital Fixed Deposit facility is offered to individuals with no existing relationship with the Utkarsh Small Finance Bank. The Bank’s existing account holders can log on to Internet Banking (through the bank’s website) or download the Utkarsh Mobile Banking app from Playstore or Apple Store to book an Online FD.
  • New customers can Log on to (www.utkarsh.bank) and click Book Now. Keep Aadhaar Card, PAN Card and the Mobile Number linked to Aadhaar Card handy. Depositors can download FD Advise after payment confirmation
  • Deposit amount: Minimum- Rs 1,000; Maximum- Rs 90,000 (only for limited KYC)
  • Tenure: 7 days to 365/366 days (only for limited KYC)
  • Senior citizens are offered an additional 0.60% p.a. on regular FDs
  • Premature withdrawal facility is available with zero penal charges
  • Depositors have the option of receiving interest payout at maturity. The maturity amount will be credited back to the respective account from where the money was received initially

Premature Withdrawal of Fixed Deposits – Penalty Charges

  • Interest will be paid after deducting the penal rate (1%) from the applicable rate. The applicable rate would be the interest rate applicable for the period of deposit for which the FD remained with the bank or at the contracted interest rate, whichever is lower.
  • Penalty on premature withdrawal is not applicable for closure within 7 days
  • Premature withdrawal of the Fixed Deposit Plus deposit is allowed only in case of death of the account holder or on order from regulatory and/or statutory authority.

Utkarsh Bank FD Calculator

Before putting money in any of the fixed deposit schemes by Utkarsh Small Finance Bank, it is suggested to use the Fixed Deposit Calculator at Paisabazaar.com. This is an online free tool that can be accessed at any time and from a mobile phone or computer, likewise.

Using an online FD calculator, customers can get an idea of their potential interest earnings with Utkarsh Bank’s FD schemes. To use the tool, one only needs to provide three inputs, viz. deposit amount, tenure for which FD is to be kept with the bank, and the updated Utkarsh Bank FD rates.

On submitting these details, the calculator shall furnish the estimated total interest earnings. This way, one can direct one’s money in the best possible way.

Calculate Now

FAQs

Q. What is the highest Utkarsh Small Finance Bank FD Rate available?

Currently, the highest Utkarsh Small Finance Bank FD rate is 8.50% for regular individuals & 9.10% for senior citizens (for 2 years to 3 years).

Q. What is the minimum amount to invest in Utkarsh Small Finance Bank Fixed Deposit Account?

The minimum amount to invest in Utkarsh Small Finance Bank Fixed Deposit Account is Rs. 1,000.

Q. What is the minimum amount to invest in Utkarsh Small Finance Bank Fixed Deposit Plus Account?

The minimum amount to invest in Utkarsh Small Finance Bank Fixed Deposit Account Plus is Rs. 15,00,000.

Q. Are there any penalty charges for premature withdrawal of Utkarsh Small Finance Bank Fixed Deposit?

Bank charges a penalty of 1%, i.e. interest is given at the applicable rate of interest minus 1%.

 

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