Uttarakhand Gramin Bank 2024 Interest Rate For FD- Uttarakhand Gramin Bank is supported by the top public area bank SBI, which watches out for the monetary discipline kept up with by the bank. This provincial bank has gained quick headway and is currently offering a few administrations like an investment account, fixed store plan, and portable financial help. Fixed store plans are well known among the country populace as they get great financing costs.
A decent store (FD) is a monetary instrument that empowers you to get guaranteed returns at a proper pace of interest. Uttarakhand Gramin Bank offers fixed stores with residencies going from seven days to 10 years. The loan fees presented on the proper stores range from 2.90% p.a. to 6.00% p.a. for the overall population. Senior residents can profit an extra loan cost of 0.50% p.a. on certain residencies.
Uttarakhand Gramin Bank 2024 Interest Rate For FD
There are a variety of fixed deposit interest rates offered by Uttarakhand Gramin Bank. You can invest your money in the bank with a fixed deposit. You will receive interest in your fixed deposit there. A fixed deposit works in this way. There are a lot of terms to know about fixed deposits. The interest rates, the amount of time you invest, and how to invest are a few examples. You can get the best rates on FD Interest if you are aware of all of these things.
The Uttarakhand Gramin Bank FD offers the choice of making a one-time or recurring deposit for any length of time, from seven days to ten years. Depending on your needs and financial goals, Uttarakhand Gramin Bank FD lets you choose from a variety of tenures. The amount you deposit in Uttarakhand Gramin Bank_ FD will begin to earn interest based on the deposit’s tenure as soon as you select the tenure. At the time of opening an account with the bank, a customer is only permitted to make one lump sum deposit into a fixed deposit, and after that, the customer is not permitted to make additional deposits into the same FD account.
Uttarakhand Gramin Bank 2024 Interest Rate For FD Details
| Bank Name | Uttarakhand Gramin Bank |
| Article Name | Uttarakhand Gramin Bank Interest Rate For FD |
| Category | Trending |
| Official Website | Click Here |
About Uttarakhand Gramin Bank FD
India’s Uttarakhand Gramin Bank is a rural regional bank. It is sponsored by the State Bank of India, which was established under the RRB Act 1976 and became operational on November 1, 2012, following the merger of the previous RRB, viz. In the state of Uttarakhand, there is Uttaranachal Gramin Bank and Nainital Almora Kshetriya Gramin Bank. The Ministry of Finance of the Indian Government owns it. The bank has its headquarters in Dehradun and currently operates 286 branches, 11 satellite offices, 2 extension counters, and 6 regional offices across all 13 districts of Uttarakhand.
The Uttarakhand Gramin Bank (UGB) is a public-sector financial institution that was established in the state of Uttarakhand, India. It was founded in 2015 and is headquartered in Dehradun. The bank’s main objectives are to provide banking services to the people of Uttarakhand and to promote financial inclusion in the state. It has currently opened four branches across the state, with plans to open more branches in the future. The UGB offers a range of financial services, including savings accounts, loans, and credit cards. The bank also provides insurance products, such as term insurance and accidental death and disability insurance, to its customers. It is a member of the State Bank of India group of banks.
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Features & Benefits: Uttarakhand Gramin Bank Fixed Deposit
- Flexible FD tenures and competitive interest rates are available to fit your investment strategy.
- You can open a FD account online or by going to the Uttarakhand Gramin Bank branch that is closest to you.
- There is no limit on the maximum number of FD FD tenures: From seven days to ten years, various interest payout options, including monthly, quarterly, and so on.
- Up to 85% of the FD amount can be borrowed or overdrawn using the loan or overdraft facility.
- Liquidity options are simple and quick.
- There is a facility for nomination.
- Through the tax saving term deposit scheme, senior citizens can receive a tax benefit of up to Rs 1,50,000.
- The bank also provides a NRE, NRO, and FCNR deposit facility. Senior citizens can also benefit from a higher interest rate than regular citizens.
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Types of Uttarakhand Gramin bank fixed deposit schemes:
There are numerous schemes for fixed deposits at Uttarakhand Gramin Bank. Some of them include:
- Flexi Fixed deposits
- Normal fixed deposits
- Senior citizen fixed deposits
Flexi Fixed deposits:
- You will be able to transfer funds between your fixed deposit and your bank savings account with Flexi fixed deposits.
- There will be a flexible tenure period here.
Average tenure fixed deposits:
- Everyone makes fixed deposits with average tenure. The tenure period can range from seven days to five years.
- Up to the tenure period, you will not be able to take money out of the bank here.
Senior citizen fixed deposits:
- Senior citizens over the age of 60 are eligible to receive senior citizen fixed deposits.
- Here you will get more benefits than the savings account.
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Uttarakhand Gramin Bank Fixed Deposit Interest Rates (Less than Rs.15 lakh)
The interest rates on fixed deposits less than Rs.15 lakh are mentioned in the table below:
| Tenure | General Public Interest Rates p.a. | Senior Citizen Interest Rates p.a. |
| 7 days to 14 days | 2.90% | 2.90% |
| 15 days to 28 days | 2.90% | 2.90% |
| 29 days to 45 days | 2.90% | 2.90% |
| 46 days to 90 days | 3.90% | 3.90% |
| 91 days to 180 days | 3.90% | 3.90% |
| 181 days to less than 1 year | 4.40% | 4.40% |
| 1 year | 5.30% | 5.80% |
| More than 1 year to less than 2 years | 5.40% | 5.90% |
| 2 years to less than 3 years | 5.40% | 5.90% |
| 3 years to less than 5 years | 5.45% | 5.95% |
| 5 years to 10 years | 5.50% | 6.00% |
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Uttarakhand Gramin Bank FD Interest Calculator
An online financial tool called Uttarakhand Gramin Bank FD Interest Calculator lets you determine the maturity value of your fixed deposit at the bank’s interest rate. The maturity amount of the FD at the end of the tenure is determined jointly by the amount of the FD, interest rate, deposit tenure, and compounding frequency of interest.
Interest on Uttarakhand Gramin Bank FD is calculated daily and credited to the account after the maturity date. This interest is calculated on the principal amount of the account at the time of opening. The interest rate depends on the duration of the deposit and is expressed as a percentage. For example, if you open an FD with a deposit of ₹1 lakh with a tenure of 5 years, you will earn interest at a rate of 7.5% per annum.
In this FD example, we used ₹1 lakh as the initial deposit and 5 years as the tenure for calculating interest. The total interest earned in ₱1,857.75 (₹1 lakh x 7.5% per annum) is shown in blue below. Please note that this is only an example; your actual bank FD interest may differ depending on factors such as your investment’s tenure and underlying deposits held in the account.
Calculation of Interest on FD of Uttarakhand Gramin Bank
The following method is used to calculate interest on FDs for various tenures:
- For fixed deposits with a duration of less than six months, simple interest is paid out at maturity.
- For fixed deposits with a term of at least six months, interest is calculated quarterly.
- Each quarter, the cumulative interest or reinvestment interest is calculated and added to the principal so that the interest earned in the previous quarter is also paid out.
- In the case of a monthly deposit plan, the interest will be paid monthly at a discounted rate over the Standard FD Rate and will be calculated for the quarter.
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Automatic Renewal of Bank FD
The bank FD ends on a particular date. If you have not specified any specific instructions regarding the payout or renewal of the FD prior to its maturity, most banks will automatically renew the FD at the interest rate in effect on the date of maturity for the same time period for which it was originally issued. Automatic Renewal of Bank FD is the name of this.
If you do not want the bank to automatically renew your FD, you should select the option on the account opening form. When you deposit money into a FD, you have two options on the account opening form: you can have the money automatically renewed or you can have it deposited into your account at maturity. If you did not select any option on the account opening form, you will need to go to the bank branch on the day your bank FD matures to choose to have the final proceeds credited to your savings account instead of having it automatically renewed.
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