Utkarsh Small Finance Bank FD rates offer an excellent opportunity to grow your savings over the long term with competitive interest rates and flexible investment tenures. General depositors can earn interest rates of up to 7.50% per annum, while senior citizens benefit from higher rates going up to 8.00% per annum. 

By booking an FD through the Stable Money app, you can maximize your returns conveniently. Continue reading to learn more about the fixed deposit rates of Utkarsh Small Finance Bank.

Utkarsh Small Finance Bank FD Rates for General and Senior Citizens 

When you book a Utkarsh Small Finance Bank FD via Stable Money, you can choose a tenure ranging from 7 days to 5 years. This range of options allows you to customize your fixed deposit according to your financial goals and liquidity requirements. Moreover, senior citizens enjoy an added advantage with preferential rates, which are 0.50% higher than those offered to regular depositors. 

Term Wise Utkarsh Small Finance Bank FD Rates 

Here are the term-wise Utkarsh Small Finance Bank FD rates you can avail as of now:

• Short Term: Utkarsh Small Finance Bank provides an interest rate of up to 6.00% for regular depositors and 6.50% for senior citizens on short-term fixed deposits with a tenure of up to 1 year.
• Medium Term: Medium-term fixed deposits at Utkarsh Small Finance Bank come with tenures ranging from 1 year+ and 4 years. The highest interest rate that the bank offers is 7.50% for general citizens and 8.00% for senior citizens.
• Long Term: Utkarsh FD rates for long term fixed deposit of 5 years is 6.75% for general citizens and 7.25% for senior citizens per annum.

Benefits of Utkarsh Small Finance Bank FD Interest

Here are crucial benefits of Utkarsh Bank fixed deposit rates that you can avail:

• The highest interest rate that a resident individual under 60 years can get by investing in Utkarsh Bank fixed deposit is 7.50% per annum.
• Senior citizens can enjoy an additional 0.50% interest rate which makes it ideal for financial growth and security. 
• You can also enjoy the benefit of quarterly compounding, which maximises your annualised returns over the tenure of the FD.

Eligibility to Avail Utkarsh Small Finance Bank FD Rates

The following individuals or entities are eligible to open a fixed deposit with Utkarsh Small Finance Bank:

• Individual residents of India
• Hindu Undivided Families
• Trust accounts
• Limited companies
• Partnership firms
• Sole proprietorship firms

Documents Required to Book Utkarsh Small Finance Bank FD

To open a fixed deposit account and avail Utkarsh Small Finance Bank FD rates, you must provide the following documents:

• Individuals:
• PAN card or Form 60
• Recent passport-sized photograph
• Address proof (such as Voter ID, Aadhaar, Passport, Driving License, or Job Card issued by NREGA)

Hindu Undivided Family (HUF):

• Aadhaar card of all authorised signatories
• Letter of HUF signed by the Karta and all Co-Parceners
• Names and residential addresses of the Karta and Co-Parceners

Companies:

• PAN card and Aadhaar card of authorised signatories
• Certificate of Incorporation
• Memorandum and Articles of Association
• Board Resolution authorizing account opening and operations
• GST certificate
• Firm’s address proof (if not mentioned in the Certificate of Incorporation)
• PAN card of the firm or Form 60
• List of directors with residential addresses

Limited Liability Partnerships (LLP):

• PAN card and Aadhaar card authorised signatories
• Certificate of Registration from the Registrar of LLPs
• PAN card of the LLP
• Communication address proof of the LLP firm
• Partnership Firms:
• Partnership Deed and Registration Certificate
• PAN card of the partnership firm
• Aadhaar card and PAN card of authorized signatories
• Letter from partners authorising individuals to operate the account
• Shop and Establishment Certificate or GST certificate

Proprietorship Firms:

• Proprietorship letter signed by the proprietor with a rubber stamp
• Aadhaar card and PAN card of the proprietor or authorised signatories
• Certificate from a State Government
• Shop and Establishment certificate
• Statutory body
• Trade licence
• Sales tax certificate
• GST certificate

Premature Withdrawal of Utkarsh Small Finance Bank FD

Utkarsh Small Finance Bank offers flexibility with its fixed deposits, allowing premature withdrawals to manage financial emergencies or urgent requirements. If you open an FD through the Stable Money platform, you can access funds anytime after 7 days from the date of booking. 

However, a penalty applies to the applicable interest rate for early withdrawals. A penalty of 1% applies to premature withdrawals, except for closures made within the first 7 days as per the bank’s terms. 

Tax on Utkarsh Small Finance Bank FD

The interest earned on fixed deposits with Utkarsh Small Finance Bank is taxable as per your income tax slab. If the total interest accrued during a financial year exceeds ₹40,000, the bank deducts 10% TDS (Tax Deducted at Source) on the entire interest amount. 

To avoid TDS deductions, eligible individuals can submit Form 15G or 15H to the bank. For clarity on your tax obligations or to better understand Utkarsh fixed deposit rates, consider downloading the Stable Money app. 

Why Should You Choose Stable Money to Book Utkarsh Small Finance Bank FD?

With Stable Money, opening an FD and availing Utkarsh Small Finance Bank FD rates do not require you to maintain a savings account with the bank. Additionally, at Stable Money, we offer 24/7 customer support to you with FD bookings, withdrawals, and any related queries.