Fixed Deposits

An early start on your savings with Utkarsh Small Finance Bank can help you fulfil your dreams. Fixed Deposit is a one-time investment plan that gives you greater return at the term end. We offer hassle-free process and management of your investment with exciting benefits for you to enjoy. So no matter what you dream, invest in our range of customised solutions and watch your wealth grow.

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Benefits
Interest rate
Eligibility
Documents Required
Fees and Charges
FAQs

Earn higher returns on your surplus

Enjoy additional returns for senior citizen

Facility of quarterly and monthly pay-outs

Fast and hassle-free process that can be accessed from anywhere.

Appoint a nominee online.

For a complete list of interest rate on Fixed Deposit, please click here

You are eligible for a Fixed Deposit Account if you belong to any one of the following categories.

Individual Resident of India
Hindu Undivided Families
Sole Proprietorship Firms
Partnership Firms
Limited Companies
Trust Accounts

The following are the documents you would need in order to open a Fixed Deposit Account at Utkarsh Small Finance Bank. If you don’t have the mentioned documents, visit your nearest Utkarsh Small Finance Bank Branch.

Individuals:

One latest passport size photograph.
Aadhaar Card
Address and Identity proof documents ( Voter’s ID/ PAN Card/ Passport/ Driving Licence)

Public or Private Limited Companies:

Certificate of Incorporation
Memorandum and Articles of Association
Board Resolution authorising the opening and operations of the account
PAN or General Index Registrar (GIR) number or completed Form 60
List of Directors with residential addresses
PAN Card and Aadhaar Card of authorised signatories
Firm’s Address Proof if not mentioned in Certificate of Incorporation.
GST Certificate

Partnership Firms:

Partnership Deed and Registration Certificate, PAN Card of Partnership Firm.
Shop and Establishment Certificate or GST Certificate
Letter from partners approving the persons concerned to open and operate the account
Aadhaar Card and PAN Card of Authorised Signatories.
PAN Card of the Firm or Form 60.

Limited Liability Partnership Firms:

Certificate of Registration issued by registrar of Limited Liability Partnership
PAN Card of LLP
Aadhaar Card and PAN Card of authorised signatories
Communication Address proof of Limited Liability Partnership Firm

Proprietorship Concerns:

Certificate from a State Government or Statutory Body or Trade Licence or Sales Tax Certificate or Shop and Establishment Certificate or GST Certificate
Letter of proprietorship, duly signed by the proprietor in her or his individual capacity (with a rubber stamp)
Aadhaar Card and PAN Card of proprietor(s) or authorised signatorie(s)

Hindu Undivided Family (HUF):

Letter of HUF duly signed by Karta and all Co-Parceners
PAN or GIR number or completed Form 60
Names of Karta and Co-Parceners with residential address
Aadhaar Card of all authorised signatories

Particulars	Charges
Minimum Investment Amount	1,000
Maximum Investment Amount	No Maximum Limit
Minimum Tenure	7 Days
Maximum Tenure	10 Years
Penalty on Premature Withdrawal	1% (Not Applicable for closure within 7 days)
Penalty for Non Payment of Installment	Not Applicable

How do I apply for a Fixed Deposit Account?
Visit your nearest Utkarsh Small Finance Bank Branch to apply for a Fixed Deposit.

What is the eligibility criterion?
You are eligible if you belong to any one of the following categories below:

Individual Resident of India
Hindu Undivided Families
Sole Proprietorship Firms
Partnership Firms
Limited Companies
Trust Accounts

What is the minimum amount I need to invest?
You need to invest a minimum of 1,000 in your Fixed Deposit

Is there a penalty for not paying the installment?
1% penalty on premature withdrawal will be applicable.

Benefits

Free Unlimited ATM transactions across all Bank ATMs within India

Classic Rupay Debit Card with Personal Accidental Insurance cover of Rs.1 Lakh*

Quarterly/half yearly balance requirement instead of monthly
Eligibility

Anyone residing in India or a Hindu undivided family can apply for an Utkarsh Standard Savings Account.

Documents

Any resident of India or a Hindu Undivided Family can apply to open a Standard Savings Account.

Latest passport size photograph
Aadhaar Card
Address and identity proof documents

For a full list of address and identity proof documents, click here.

Documents required to open a Standard Savings Account - Hindu Undivided Family

PAN Card copy/Form 60 of HUF
Declaration from the Karta
Proof of identification and address of Karta as per documentation for individual
Prescribed Joint Hindu Family Letter signed by all the adult holders

Documents Acceptable as Proof of Identity & Address (For Domestic Individual Savings Accounts)*- Opening of Accounts /Address Change/Periodic Updation of KYC (Re-KYC)

SI No	Type of Document	ID Proof	Address Proof
1	Passport	Yes	Yes
2	Driving Licence	Yes	Yes
3	Permanent Account Number(PAN)	Yes	No
4	Voters ID Card(Issued by Election Commission of India)	Yes	Yes
5	Job Card by NREGA duly signed by an officer of the State Government	Yes	Yes
6	Aadhaar Card	Yes	Yes

***A customer shall not be required to furnish separate proof of current address, if it is different from the address recorded in OVD. In such cases, the customer is required to submit a declaration indicating the address to which all correspondence will be made by the bank/branch subject to positive field verification by the branch official which needs to be recoded
*Kindly contact the nearest branch in case you don’t have any of the above mentioned documents.

Fees & Charges

Schedule of Charges: Standard Savings Account
AQB Requirements	AQB Non-Maintenance Charges
Metro/Urban : Rs.10,000/ -AQB	Metro/Urban: Rs.25 per Rs.500 of shortfall, Max Rs.350 for quarter;
Semi Urban/Rural : Rs.5,000	Semi Urban/Rural: Rs.25 per Rs.5,00 of shortfall, Max Rs.250 for half year

Debit Card	Rupay Card - Classic
Card Fees	Issuance Fee (Primary Holder): Rs.50 Annual Fee (Primary Holder): Free for first year, Rs.50 from subsequent year
Withdrawal Limit	ATM 5,000 per day
Per Transaction Limits	Rs.20,000 (own Bank ATM) Rs.10,000 (other Bank ATM)
Shopping Limit	POS Rs.1,00,000 per day
Per Transaction Limits	POS Rs.25,000
ATM Transactions	Unlimited Free transactions
Other ATM Card Charges	PIN Regeneration Charges – NIL (Green Pin) Card Replacement Charges - 100 Add on Charges – Rs.100

Service Type	Free limit	Charges Beyond Free Limit
Cash Deposit Transactions	Rs.5 Lakhs/10 transactions	Rs.2.50 per Rs.1,000 (Min. Rs.20 )
Chequebook	One Free Chequebook per quarter (20 leaves)	Rs.2 leaf

DD/PO transactions

Demand Drafts Payable on own Bank locations:
Upto Rs.2,000 Rs.20
Above Rs.2,001 upto Rs.10,000 Rs.50
Above Rs.10,000 Rs.2 Rs.1,000
(Min Rs.60 & Max Rs.1,500 )
Payable at corresponding bank locations: Rs.1 per thousand, min Rs.25 DD + Correspondent Bank charges
Revalidation / Duplicate DD: Rs.100
Cancellation: Rs.100

For complete details on Fees and Charges, please click here

Eligibility

What is the interest rate applicable?
The rate of interest depends on the average quarterly balance maintained in the account. Your Account has the potential to earn up to 6%* interest rate. Please visit the nearest Utkarsh Small Finance Bank Branch for more details.

What is the minimum Average Monthly Balance (AMB) required for a Standard Savings Account?
The biggest advantage our customers have is that we request them to maintain an Average Quarterly Balance (AQB) instead of a monthly balance. Metro/urban customers can enjoy classic banking services with an Average Quarterly Balance (AQB) of just Rs.10,000 and semi-urban/rural customers can enjoy the same at Rs.5,000 of half yearly average balance.

What is the daily transaction limit?
The daily ATM withdrawal limit for our customers is Rs.40,000 and the shopping limit is Rs.1,00,000 (POS).

Who is eligible to open a Standard Savings Account?
Any resident of India or a Hindu Undivided Family can apply to open a Standard Savings Account.