Uttarakhand Gramin Bank FD Rates

Uttarakhand Gramin Bank is sponsored by the top public sector bank and SBI, which keeps an eye on the financial discipline maintained by the bank. This rural bank has made rapid progress and is now offering several services like a savings account, fixed deposit scheme, and mobile banking service. Fixed deposit schemes are popular among the rural population as they fetch good interest rates.

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Features of Uttarakhand Gramin Bank Fixed Deposit

Uttarakhand Gramin Bank offers various benefits to their customers. Some of these features and benefits of their fixed deposit schemes include:

  • Through its FD plans, the bank offers an excellent opportunity to people with some idle funds to utilize the money for earning a handsome interest.
  • Uttarakhand Gramin Bank Fixed Deposit plans offer attractive interest rates that range from 4.5% to 6.55%.
  • It offers tenures of 7 days to 10 years for parking money in FD plans.
  • FD customers can withdraw their money in full or parts.
  • Nomination facility is available.
  • Automatic renewal of fixed deposit is available.
  • Premature withdrawal and overdraft facilities are available.  
  • Senior Citizens earn 0.5% higher interest on their FD on tenures of 1 year and above. 
  • FD investments are eligible for tax benefits under Section 80c of the Income Tax Act to get savings up to Rs 1.5 lakhs.

Uttarakhand Gramin Bank Fixed Deposit Rates 2021

Uttarakhand Gramin Bank offers attractive interest rates on its fixed deposits. FDs from the bank with a 30-day maturity period earn a 4.5% interest rate as compared to other banks. The highest interest rate for general customers is 6.55% that is accrued on a 365-day maturity period.  

Below table shows interest rates accrued by the Uttarakhand Gramin Bank fixed deposits under various tenures:

Tenure

Interest Rate (%)for Regular Citizens

Interest Rate (%)for Senior Citizens

7 to 30 days

4.5

4.5

31 to 45 days

4.5

4.5

46 to 60 days

5.5

5.5

61 to 90 days

5.5

5.5

91 to 120 days

5.5

5.5

121 to 180 days

5.5

5.5

181 to 270 days

5.8

5.8

271 to 365 days

6.55

7.05

1 year to 2 year

6.25

6.75

2 years to 10 years 

6.25

6.75

*Interest rates are subject to change.

Things to Know

Some of the things to know about Uttrakhand Gramin Bank fixed deposits and their interest rates are:

  • The minimum FD interest rate of 4.5% is higher than many FD plans of other banks and financial institutions.
  • Senior citizens are given a higher interest rate as well as some relief on premature withdrawal. For them, the highest FD interest rate is 7.05% on a 365-day maturity period.  
  • Monthly to yearly interest payouts are available.
  • The interest rates can be TDR or Simple Rates of Interest and STDR or Compounded Rates of Interest. TDR is generally applicable for short-term deposits, though they are also available for deposits up to 10 years. They are non-cumulative deposits.
  • STDR schemes are introduced for a specific number of days, like, 555 or 777 days. They are cumulative deposits.

Summing it Up

Uttarakhand Gramin Bank offers attractive rates on its FD plans. The bank also offers other regular benefits to its FD customers. FDs for senior citizens earn an additional 0.5%  interest rate on 1 year or above terms. Income tax benefits on FD investments are comparable with other banks.

Written By: PolicyBazaar - Updated: 26 August 2021
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