Planning to invest in Ujjivan Small Finance Bank FD - 8.25% interest for 12 months! Any reviews/experiences?

[Maitri_Maniya]

I'm considering investing in a 12-month Fixed Deposit with Ujjivan Small Finance Bank, which offers an interest rate of 8.25%. Has anyone invested with them before? What were your experiences?

 

[mohitkamboj007]

Maybe you should check with Stable Money or super money apps. They are offering upto 9.5% interest with North East SF Bank & 9.1% with Suryoday, Utkarsh SF Bank. Not sure about if it is only for Senior citizen or others are also eligible

 

[surojitlaha]

I'm considering investing in a 12-month Fixed Deposit with Ujjivan Small Finance Bank, which offers an interest rate of 8.25%. Has anyone invested with them before? What were your experiences?

Check stable money and compare the fd rates with other banks

 

[Maitri_Maniya]

Maybe you should check with Stable Money or super money apps. They are offering upto 9.5% interest with North East SF Bank & 9.1% with Suryoday, Utkarsh SF Bank. Not sure about if it is only for Senior citizen or others are also eligible

better to go directly with banks. i have FD in those banks also. but still exploring this bank

 

[Chhota Bheem]

Go for Bandhan or RBL Bank, rates are above 8% and relatively safe.

 

[mohitkamboj007]

better to go directly with banks. i have FD in those banks also. but still exploring this bank

Is there any specific reason or benefit for going directly with bank. We also need to open a bank acc. also in that case I guess

 

[ankurarora898]

I'm considering investing in a 12-month Fixed Deposit with Ujjivan Small Finance Bank, which offers an interest rate of 8.25%. Has anyone invested with them before? What were your experiences?

my parents have fds with them, didn't have any issue, renewed after maturity.Only thing is we kept it just till 5 lakh per person which is insured with dicgc.

 

[pothi]

Is there any specific reason or benefit for going directly with bank. We also need to open a bank acc. also in that case I guess

No need to open an SB account. You can open a digital FD directly with Ujjivan. Only the first time process involves vKYC. From there, it's a breeze. I am sure most other banks will have a similar system. If anything happens, we have RBI to rectify and get compensation as well. Just be sure not to put more than 5 lac in a single bank (any bank).

Disclaimer: I have FD with Ujjivan along with digital SB account (when I opened it, it was zero bal account, now min bal is 1k). My spouse has digital FD account without SB account. Both accounts are less than 1 year old, though.

Going directly with the bank gives a slightly better FD interest rate. Also, when dealing with any issues, it is easy to talk to the bank directly rather than through Stable Money, Super Money or any other platform.

 

[surojitlaha]

No need to open an SB account. You can open a digital FD directly with Ujjivan. Only the first time process involves vKYC. From there, it's a breeze. I am sure most other banks will have a similar system. If anything happens, we have RBI to rectify and get compensation as well. Just be sure not to put more than 5 lac in a single bank (any bank).

Disclaimer: I have FD with Ujjivan along with digital SB account (when I opened it, it was zero bal account, now min bal is 1k). My spouse has digital FD account without SB account. Both accounts are less than 1 year old, though.

Going directly with the bank gives a slightly better FD interest rate. Also, when dealing with any issues, it is easy to talk to the bank directly rather than through Stable Money, Super Money or any other platform.

For me,
I have made fds to 7 different banks through stable money. Each worth some lakhs. It's the most convenient way for me. No need to open any savings account. Just video kyc and fd done