Maitri_Maniya
TF Select
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?
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Planning to invest in Ujjivan Small Finance Bank FD - 8.25% interest for 12 months! Any reviews/experiences?
- Thread starter Maitri_Maniya
- Start date
- Replies 11
- Views 864
mohitkamboj007
TF Select
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
TF Ace
Check stable money and compare the fd rates with other banks
Maitri_Maniya
TF Select
better to go directly with banks. i have FD in those banks also. but still exploring this bank
mohitkamboj007
TF Select
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
TF Select
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.
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
TF Ace
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
iscoopicecreams
TF Select
Can open in any SFB provided the amount of investment is upto 5L as the same is covered by RBI whenever any financial institution fails
Ujjivan Net banking, Mobile banking both are good for FD creation/ closure. You can download your FD receipt , with all the details of FD and issuing branch.
In case you have saving account with branch, they will come at home/office and open it on Tab., later you can get Signed stamped FD as well. interest rates are mostly good, you have to check on website.
In case you have saving account with branch, they will come at home/office and open it on Tab., later you can get Signed stamped FD as well. interest rates are mostly good, you have to check on website.
I’ve heard mixed feedback about Stable Money Many users have reported difficulties, especially when it comes to withdrawals. In several cases, the redeemed amount wasn't credited even after 45 days
How is your experience
