Utkarsh SFB RD Interest Rates: Latest Rates and Calculations
Utkarsh SFB RD Interest Rates: Recurring Deposit Guide
Utkarsh Small Finance Bank offers some of the most competitive recurring deposit (RD) interest rates in the country, typically ranging from 6.5% to 8.5% per annum depending on the tenure. As an RBI-regulated small finance bank, deposits at Utkarsh SFB are covered under the Deposit Insurance and Credit Guarantee Corporation (DICGC) up to Rs. 5 lakh.
Current Utkarsh SFB RD Interest Rate Slabs
| Tenure | General Rate (p.a.) | Senior Citizen Rate (p.a.) |
|---|---|---|
| 6 months | ~6.50% | ~7.00% |
| 1 year | ~7.50% | ~8.00% |
| 2 years | ~7.75% | ~8.25% |
| 3 years and above | ~8.00% | ~8.50% |
These rates are indicative. Visit the official Utkarsh SFB website or call 1800 123 0250 for the most current rates, as small finance banks revise rates periodically.
Key Benefits of Utkarsh SFB RD
- Higher interest rates compared to most scheduled commercial banks.
- DICGC insurance up to Rs. 5 lakh on all deposits.
- Flexible tenures from 6 months to 10 years.
- Option to open RD through the Utkarsh Mobile Banking app.
- Senior citizens get an additional 0.50% interest in most tenures.
How to Open an RD at Utkarsh SFB
- Log in to the Utkarsh Mobile Banking app.
- Go to Deposits and select Open Recurring Deposit.
- Choose the monthly instalment amount and tenure.
- Review the interest rate and maturity amount shown.
- Confirm and link your savings account for auto-debit.
Tax on RD Interest
Interest earned on RDs is taxable as per your income tax slab. TDS is deducted if annual interest from all deposits in a financial year exceeds Rs. 40,000 (Rs. 50,000 for senior citizens). Submit Form 15G or 15H to avoid TDS if your income is below the taxable limit.
Key Takeaways
- Utkarsh SFB RD rates are among the highest, ranging from ~6.5% to ~8.5%.
- Senior citizens get an additional 0.50% interest.
- All deposits are DICGC insured up to Rs. 5 lakh.
- RD can be opened online via the Utkarsh Mobile Banking app.
- Interest is taxable; submit Form 15G/15H to avoid TDS if eligible.
Frequently Asked Questions
What is the current RD interest rate at Utkarsh SFB?
Rates generally range from 6.5% to 8.5% per annum depending on tenure. Check the official Utkarsh SFB website or call 1800 123 0250 for the latest rates.
Is Utkarsh SFB RD safe?
Yes. Utkarsh SFB is RBI-regulated, and all deposits including RDs are covered by DICGC insurance up to Rs. 5 lakh per depositor.
Can I open an RD at Utkarsh SFB without visiting the branch?
Yes. RDs can be opened through the Utkarsh Mobile Banking app or net banking from the comfort of your home.
What happens if I miss an RD instalment at Utkarsh SFB?
A penalty is charged for missed instalments, and if multiple instalments are missed, the RD may be prematurely closed. Check the penalty terms with your branch or on the app.
