Disappointed with Your Savings Account? Switch to This Small Finance Bank

In April 2025, following the Reserve Bank of India’s (RBI) repo rate cut from 6.25% to 6%, several major banks have reduced interest rates on savings accounts.
 

At a time when most banks are prioritising lending over deposits, Ujjivan Small Finance Bank is breaking the trend by offering up to 7.50% p.a.* interest on Savings Accounts (subject to terms and conditions). This move has not only grabbed attention but also positioned Ujjivan SFB as a customer-first bank catering to everyday savers.

Types of Savings Accounts Offered by Ujjivan

Ujjivan SFB offers a diverse range of Savings Accounts, meticulously designed to meet the unique financial needs of every customer – from young professionals and families to senior citizens and entrepreneurs. 

Let’s take a look at the types of Savings Accounts offered by Ujjivan.
 

1. Digital Savings Account
    

   In today’s fast-paced world, convenience is the key. With Ujjivan SFB’s Digital Savings Account, you not only earn higher interest rates, up to 7.50%*, but also enjoy a seamless banking experience. 
    

   The account opening process is 100% online – no paperwork required. Just ensure to keep your Aadhar and PAN ready for Video KYC. Please note that your Aadhar should be linked to your registered mobile number. 
    

2. Privilege Savings Account

   
   The Privilege Savings Account comes with enhanced features and benefits designed to offer a premium experience. Enjoy higher interest rates, complimentary lounge access and personal accident cover up to ₹2 lakh person with RuPay Debit Card, unlimited ATM transactions and more.
    

3. Maxima Savings Account

   
   Enjoy elite benefits and maximise your savings potential with Maxima Savings Account. With this account, you get higher daily ATM cash withdrawal limit of ₹2.5 lakh, personal accident cover up to ₹10 lakh, exclusive merchant offers via RuPay Select Debit Card and more. This account is designed for premium customers; hence the monthly average balance requirement is slightly higher - ₹1 lakh.
    

4. Minor Savings Account

   
   Minor Savings Account is a Savings Account designed for kids below 18 years. The account is operated by the guardian till the minor becomes an adult. There’s no minimum average balance maintenance requirement for this account.
    

5. Regular Savings Account

   
   The Regular Savings Account comes with a low minimum balance requirement of ₹1,000. With this account, you get higher interest rates, a RuPay Classic Debit Card that comes with multiple offers, Mobile and Internet Banking facilities, and more. 
    

6. Classic Savings Account

   
   With the Classic Savings Account, other than higher interest rates, you get higher cash deposit limit of ₹3.5 lakh per month, choice of Debit Card – RuPay Classic or RuPay Platinum that comes with a host of benefits including higher daily shopping limit, convenience of Mobile and Net Banking, and more.
    

7. Senior Citizen Savings Account

   
   Designed for seniors – the pillars of our society – the Senior Citizen Savings Account offers higher interest rates, priority and doorstep banking services, lifetime free RuPay Classic Debit Card, Mobile Banking in regional languages, and more.
    

8. Garima Savings Account
    

   An account that’s exclusively designed for women, Garima Savings Account comes flexible balance maintenance options, higher interest rates, free cash deposit limit up to ₹5 lakh per month and more. 

    

Why This Rate Hike Matters More Than Ever in 2025

India’s retail inflation has hovered around 3.34% in March 2025, which means traditional savings accounts offering 2.70%–3.50% are barely beating inflation—if at all.

This gap between inflation and savings interest can erode the real value of your money over time. That’s why Ujjivan’s offering of up to 7.50% becomes a powerful tool for wealth preservation and growth. Not only does it offset inflation, but it also gives savers the peace of mind that their money is growing—even when it’s just sitting in the bank.

Safety First: Is It Safe to Deposit with Ujjivan SFB?

Yes. Ujjivan Small Finance Bank is a scheduled bank under the supervision of the Reserve Bank of India (RBI). All savings deposits up to ₹5 lakh are covered under the Deposit Insurance and Credit Guarantee Corporation (DICGC) insurance.