2019-2022

STUDY OF MFI

Submitted by-

Arpita Bhanja- 19201005

Biswajit Kar- 19201008

Chandan Dash- 19201009

Debasish Sahoo- 19201010

Tanvi Mohanty- 19201051

INTRODUCTION:
Ujjivan Small Finance Bank Limited is a mass market focused bank in India, catering to
financially unserved and underserved segments and committed to building financial
inclusion in the country. Ujjivan Financial Services Limited (UFSL) commenced operations as
an NBFC in 2005 with the mission to provide a full range of financial services to the
‘economically active poor’ who were not adequately served by financial institutions. On 7,
October, 2015, UFSL received RBI In-Principle Approval to set up a Small Finance Bank(SFB),
following which it incorporated Ujjivan Small Finance Bank Limited as a wholly-owned
subsidiary. UFSL, subsequent to obtaining RBI Final Approval on November 11, 2016 to
establish and carry on business as an SFB, transferred its business undertaking comprising of
its lending and financing business to our Bank, which commenced its operations from 1,
February, 2017. They are a ‘scheduled bank’ included in the Second Schedule to the Reserve
Bank of India Act, 1934.

Ujjivan Small Finance Bank has a diversified portfolio with branches spread across 24 states
and union and a customer base of 4.9 million as of September 30, 2019. Apart from the
network of branches, ATMs and Automated Cash Recyclers, they have a phone banking unit
that services customers in nine languages, a mobile banking application that is accessible in
five languages as well as internet banking facility for individual and corporate customers.
Their focus is to use technology as an enabler for the customers that allows them to
customize and deliver products and services to suit need of customers.

524- Banking Touchpoints

385- ATM networks

46 lakhs+ - Customer base

24 states- Presence across 211districts

14752- Employee strength

40 lakh+ - Borrowers
 1. Different products offered by Ujjivan Small
finance bank with their complete features.

ASSET PRODUCTS
 Micro Banking
Their focus is to serve the unserved and underserved segments. Under micro banking they
offer the following types of products:

I. Group Loans-
Group loan products are offered to economically active, unserved and underserved
customers to meet various requirements. These loans range between ₹ 2,000 to ₹ 60,000,
with a tenure of up to two years, at a uniform declining interest rate of 22% per annum
across customers. Group loan products are built on the peer-guarantee loan model (joint
liability group), which enables individuals to take loans without having to provide collateral
or security on an individual basis. They offer group loan products to groups of 5 to 10
members, who live in the same area and within the operating radius of the same branch,
and whose annual household income is not more than ₹ 100,000 in rural areas and not
more than ₹ 160,000 in non-rural areas. While new customers become eligible for loans
after they pass the group recognition test, existing customers are granted repeat loans on
the basis of their prior track record. Addition of new members and merging of groups is
permitted on the basis of track record and compliance with conditions in relation to age and
residence.
Group loan products currently offered by them include:
a. Ujjivan Bank Group Business Loan: A core, business loan offering which provides
customers access to financing for supporting their business requirements. These
loans range between ₹ 6,000 to ₹ 60,000, with a repayment tenure of 12, 18 and 24
months.
b. Ujjivan Bank Group Family Loan: A core, consumption loan offering which can be
utilized for a variety of purposes including medical emergencies, home
improvement, repayment of high-cost debts availed for family needs, social, religious
obligations and purchase of consumer durables. These loans range between ₹ 6,000
to ₹ 40,000 with a repayment tenure of 12, 18 and 24 months.
c. Ujjivan Bank Group Agriculture and Allied Loan: A core, business loan offering
which can be utilized to meet the cost of cultivation and other working capital
activities and equipment purchase for farming and allied activities. These loans range
between ₹ 6,000 to ₹ 60,000, with a repayment tenure of 12, 18 and 24 months.
 d. Ujjivan Bank Group Education Core Loan: A loan, amounting ₹ 6,000 to ₹ 50,000 is
given to promote education of children of the customers with a repayment tenure of
12, 18 and 24 months.
e. Ujjivan Bank Group Emergency Top-up Loan: An additional loan offering designed to
meet unforeseen medical emergency requirements of customers, which is disbursed
within 24 hours of request by the customers. These loans range between ₹ 2,000 to
₹ 5,000, with a repayment tenure of 6 months.
f. Ujjivan Bank Group Education Loan Top Up: An additional, consumption loan
offering to promote education amongst customers, designed to help finance
education expenses of children studying between kindergarten and above. These
loans range between ₹ 5,000 to ₹ 15,000, with a repayment tenure of 12 months.
g. Ujjivan Bank Group Top-up Loan: An additional loan offering is available during the
year to address business/ family/education or agriculture related requirements of
existing customers over and above the initial core loans availed. The same is
extended on the basis of a satisfactory credit history of the customer. These loans
range between ₹ 10,000 to ₹ 30,000 with a repayment tenure of 6, 12 and 18
months.
h. Ujjivan Bank Group Loyalty Loan: An additional, special loan offering designed to
meet the additional needs of loyal customers who have completed 20 equated
monthly installments in their core loan, and is given during festive season (June to
November) every year. These loans range between ₹ 5,000 to ₹ 25,000, with a
repayment tenure of 12, 18 and 24 months.

II. Individual Loans

Individual loan products currently offered by the bank are as follows:
a. Ujjivan Bank Individual Business Loan: Extended to existing group loan customers
after successful repayment of 20 monthly installments for working capital or capital
investment requirements for existing businesses. The amount ranges between ₹
51,000 to ₹ 200,000 with repayment tenure between 6 to 24 months.
b. Ujjivan Bank Individual Bazar Loan: Extended to both men and women as a business
loan for working capital as well as capital investment requirements. The amount
ranges between ₹ 51,000 to ₹ 200,000 with repayment tenure between 6 to 24
months.
c. Ujjivan Bank Home Improvement Loan: Extended to existing group loan customers
after successful repayment of 20 monthly installments and a few open market
customers (salaried and self-employed individuals, skilled/ semi-skilled individuals)
for renovating/ repairing their houses. The amount ranges between ₹ 51,000 to ₹
200,000 with repayment tenurebetween 12 to 36 months.
d. Ujjivan Bank Individual Agriculture Loan: Extended to existing group loan customers
after successful repayment of 20 monthly installments and few open market
customers engaged in agricultural businesses for meeting their working capital
requirements related to agriculture, purchase of agricultural inputs (like seeds,
fertilizers and agro-chemicals) and payment of agricultural expenses and charges.
 The amount ranges between ₹ 51,000 to ₹ 100,000 with repayment tenure between
6 to 24 months.
e. Ujjivan Bank Higher Education Loan: Extended to existing group loan customers
after successful repayment of 20 monthly installments for higher education of their
family members. The amount ranges between ₹ 51,000 to ₹ 200,000 with repayment
tenure between 2 to 7 years (after commencement of the repayment).
f. Ujjivan Bank Open Market Livestock Loan: Extended to open market customers
engaged into livestock rearing activity. Loans are provided for purchase of livestock
and for related expenditures including building sheds and purchasing fodder. These
loans range between ₹ 51,000 to ₹ 200,000 with repayment tenure between 6 to 24
months.
g. Ujjivan Bank Individual Livestock Loan: Extended to existing group loan customers
after successful repayment of 20 monthly installments and a few open market
customers engaged in cattle-rearing businesses for purchasing cows and buffalos and
running dairy business. The amount ranges between ₹ 51,000 to ₹ 200,000 with
repayment tenure between 6 to 24 months.
h. Ujiivan Bank Open Market Home Improvement Loan: Extended to customers with
their own dwelling units. Loans are provided for improving the living condition which
includes building additional rooms, washrooms, toilets or boundary walls. Both self-
employed and salaried individuals can avail this loan. The amount ranges between ₹
51,000 to ₹ 200,000, with repayment tenure between 12 to 36 months. Rate of
interest for individual loan products is a uniform declining rate of 23.25% - 24.00%
per annum (governed by MCLR based pricing policy).

III. Agriculture and Allied Loan products

The agriculture and allied loan products are specifically designed to meet the financing
requirements of small and marginal farmers including those engaged in allied activities such
as dairying, sericulture and purchase renovations and upgradation of farm equipment.
a. Ujjivan Bank Agri Group Loan: This joint liability and group loan product caters to
needs of farmers who are engaged in dairy or other allied activities like sericulture or
need a loan for purchase or maintenance of farm implements such as tractors. The
product intends to on-board male or female groups or mixed groups engaged in
agriculture or allied activities. Agri group loans are both disbursed and collected
cashless. The loan amount ranges from ₹ 30,000 to ₹ 60,000 with a tenure of up to
24 months. The rate of interest for agri group loan product is a uniform declining
rate of 22% per annum (governed by our MCLR based pricing policy).
b. Ujjivan Bank Kisan Suvidha Loan: This is an individual lending product and a
composite loan product which aims at catering multiple financial needs of farmers.
They aim to provide collateral free loan to farmers for a host of activities like dairy,
fishery, farm mechanization, poultry, floriculture, mushroom farming, sheep-rearing,
poultry, apiculture, coconut farm maintenance, sericulture and farm development
(and farm products purchase). The borrower’s repayment cycle is aligned to the cash
flow of the activity funded supplemented with an option to repay through cashless
 mode. The loan amount ranges from ₹ 60,000 to ₹ 150,000 (for existing customers)
and up to ₹ 200,000 (for new customers) with a tenure of 24 months. The rate of
interest for Kisan Suvidha Loan product is a uniform declining rate of 23.25% per
annum (governed by our MCLR based pricing policy).
c. Ujjivan Bank Kisan Pragati Card: Secured individual loan product for the
comprehensive credit requirements of farmers for agriculture and allied activities
under a single window in the form of term loans and revolving cash credits. The loan
amount varies from ₹ 50,000 to ₹ 1 million and the rate of interest is 14% for the
cash credit variant and 16% for the term loan variant.

IV. Family Banking-

In an attempt to increase the reach to the customers and extend financial services to the
unserved and underserved section of the society, they have introduced the ‘Sampoorna
Family Banking’. The aim is to address the financial needs of existing micro banking
customer base and their family members which include their spouses, children, parents,
relatives and references from existing customers by providing them full range of affordable
banking services.

 Micro and Small Enterprise (“MSE”) Loans

The MSE banking operations offers loans and overdraft facility to enterprises engaged in
manufacturing and service/ trade activities in the form of investment as well as working
capital, with flexible security requirements to make credit more accessible to MSE
borrowers. MSE products are intended to facilitate the establishment, expansion and
modernisation of businesses, including acquiring of fixed assets and meeting working capital
needs. Lending to certain categories of eligible. MSEs engaged in manufacturing or providing
or rendering services with credit facilities and investment in equipment up to a certain
amount are considered as ‘priority sector advances’ under the relevant RBI regulations.
Bank classifies MSEs as per the ‘Compendium of Guidelines for Small Finance Banks’ issued
by the RBI. They have strategically focused on developing our MSE business to ensure
diversity in our customer base. They have developed a wide range of products and
customized services including overdraft facility and corporate internet banking to suit
specific needs of the MSE customers.
They offer the following MSE loans:
a. Ujjivan Bank Secured Enterprise Loan: Extended to MSEs that meet eligible turnover
criteria. These loans range between ₹ 1 million and ₹ 10 million (for existing
customers) and ₹ 5 million (for new customers) and are secured. The repayment
tenure for such loans is between 3 years and 10 years. Rate of interest for this loan
ranges between 14% to 17% per annum.
b. Ujjivan Bank Business Loan Secured : Extended to MSEs that meet eligible income
criteria. These loans range between ₹ 1 million and ₹ 2.5 million and are secured.
The repayment tenure for such loans is between 3 and 10 years. Rate of interest for
this loan ranges between 17.00% to 19.00% per annum.
 c. Ujjivan Bank Overdraft Facility: Extended to MSEs that meet eligible turnover
criteria. They provide loans of up to ₹ 5 million for new customers and up to ₹ 10
million for existing customers. Overdraft limit is renewed annually unless specified
otherwise. Rate of interest for this loan ranges between 14% to 17% per annum.
d. Ujjivan Bank Business Edge Term Loan and Overdraft: Extended to MSEs that meet
eligible turnover criteria. These loans range between ₹ 2.5 million and ₹ 20 million.
The repayment tenure for such loans is between 3 and 10 years. Overdraft limit is
renewed annually unless specified otherwise. Rate of interest for this loan ranges
between 12% to 15% per annum.

 Affordable Housing Loans

The affordable housing loan offerings are targeted towards informal and semi-formal
income segments. Loan are provided for purchase of plots or house, construction of house,
improvement/ restoration/ extension of home. They offer the following affordable housing
loan products:
a. Ujjivan Bank Construction and Purchase Loan: These loans are extended for
construction and purchase of homes. The loan amount ranges between ₹ 2,00,000 to
₹ 7.5 million with a repayment tenure that ranges between 36 to 240 months.
Interest rate ranges from uniform declining rates of 12.75% to 15.75% per annum.
b. Ujjivan Bank Home Improvement Loan: These loans are provided for home
improvement, renovation and extension. The loan amount ranges between ₹
2,00,000 to ₹ 2.5 million with a repayment tenure that ranges between 36 to 144
months. Interest rate ranges from uniformly declining rate of 15.75% per annum.
c. Ujjivan Bank Composite Home Loan: These loans are provided for purchase of land
and home construction. The loan amount ranges between ₹ 2,00,000 to ₹ 3 million
with a repayment tenure that ranges between 36 to 240 months. Interest rate
ranges from uniformly declining rates of 12.75% to 15.75% per annum.
d. Ujjivan Bank Home Equity Loans (Non-Housing Loan): These loans are for debt
consolidation, extended refinance for building constructed or purchased, mixed
usage of loan and funding of mixed properties. The loan amount ranges between ₹
3,00,000 to ₹ 3.5 million with a repayment tenure that ranges between 36 to 180
months. Interest rate is a uniformly declining rate of 15.75% to 17.75% per annum.

 Loans Against Property

Ujjivan Bank Loans Against Property: These loans are extended in the range of ₹
300,000 and ₹ 1 million and are secured against the property offered as collateral.
The repayment tenure for such loans is between 3 and 7 years.
 A variant of the Ujjivan Bank Loan Against Property product was introduced in
September 2019 known as ‘LAP Imperfect Collateral’ targeted towards semi-formal
customer segments.

 Personal Loans
They offer personal loans as part of retail asset product portfolio and currently offer such
loans to salaried customers in private or public sector organizations who meet internal
criteria. They also provide loans to salaried individuals working in trusts provided they are in
the educational sector or in hospitals. The product program comprises of loans to existing
salary account customers and open market customers.
The minimum net income criteria is ₹ 15,000 per month for open market customers while it
is ₹ 12,000 per month for existing salary account customers in non-metro regions. They
offer unsecured loans ranging from ₹ 50,000 to ₹ 1.5 million. The loans are offered to
customers in full time employment with good credit behaviour as well as new-to-credit
customers. The pricing ranges from uniformly declining rates of 18% per annum to 23% per
annum. The repayment tenor for such loans ranges from 12 to 60 months. The sourcing is
done through an in-house sales team of loan officers, channel partners and online
acquisitions. The loan processing system is entirely digital and customers can apply through
an online portal without the staff intervention.

 Financial Institutions Group (“FIG”) Loans

They also extend term loans to credit acceptable NBFCs and micro finance institutions. In
the NBFC sector, focus is on NBFCs that lend to retail customers in the form of small and
micro enterprise loans, microfinance, vehicle finance and similar sectors. They typically lend
to NBFCs that have at least a BBB rating from a recognized credit rating agency. Average
ticket size of loans is in the range of ₹ 100 million to ₹ 250 million. They prescribe single
entity level cap per entity at ₹ 500 million and single group level cap across multiple entities
at ₹ 750 million. Average tenor for the loan ranges from two to three years with a cap at five
years. The FIG lending is capped at 10% of the overall lending portfolio. They have a Board
approved policy for FIG lending with parameters on client acceptance, credit underwriting
and credit approval mechanism.

 Vehicle Loans
Ujjivan Bank Raftaar Loans: Vehicle loans are one of the newest offerings of the Bank. They
offer two-wheeler loans and electric three-wheeler loans to new-to-bank customers,
existing customers and the families of such customers. The ticket size for two-wheeler loans
ranges between ₹ 26,000 to ₹ 85,000 and have a tenor of 12 to 36 months with a rate of
interest of 22% to 27% per annum. The ticket size for electric three-wheeler loans ranges
between ₹ 50,000 to ₹ 250,000 and have a tenor of 12 to 36 months with a rate of interest
of 20% to 25% per annum.

 Loan Pricing
ALCO approves the interest rates across loan types and retail deposits besides providing
indicative range for interest rate to be quoted for bulk deposits. Rates are reviewed from
time to time, depending on prevailing market conditions and operating and funding costs at
that time. The MCLR is displayed at all Banking Outlets and on the website. In setting
interest rates for loans, they take into consideration various factors including RBI guidelines
on advances, the prevailing MCLR/external borrowing rates, the interest rates charged by
the competitors at the time, the credit rating of the customers wherever applicable, own
cost of funds, the nature of collateral offered, if any, the credit risk premium and the
business strategy premium. All the loans are denominated in Indian Rupees. Interest on
most of the loans are fixed, with principal and interest payable in monthly, or in exceptional
cases of loans to financial institutions, at quarterly instalments. The overdraft product for
MSE customers is at floating rates, while housing loans are partially at fixed and partially on
a floating rate basis.

LIABILITY PRODUCTS
 Retail Products
I. Current Accounts
They offer four types of current account options that provide customers with the ability to
manage their business transactions with higher daily transaction limits and access to funds
at a wide network of Banking Outlets, ATMs and via net banking, mobile applications and
SMS banking channels. They do not pay interest on current accounts.
They offer the following current accounts to the customers:
a. Ujjivan Bank Business Edge Current Account: With the Business Edge Current
Account cash deposit limits can be set according to the seasonality of the customers’
business. For these accounts customers need to maintain an average balance of ₹
25,000 per month and further, such accounts allow certain number of free cash
deposit across all Banking Outlets subject to certain terms and conditions as
stipulated by the Bank. Other features include free IMPS, RTGS and NEFT through
any channel and CMS services on maintenance of required monthly average balance,
no additional charges for non-home branch transactions, benefit of RuPay Platinum
ATMs and 10 free transactions at other bank ATMs.
b. Ujjivan Bank Premium Current Account: The Premium Current Account allows for
free cash deposits across all Banking Outlets up to 10 times of the previous month’s
 average balance or ₹ 300,000, whichever is higher. For this account customers need
to maintain a monthly average balance of ₹ 10,000 per month. Other features
include free IMPS, RTGS and NEFT through any channel and CMS services, benefit of
RuPay Classic Debit Card and unlimited free ATM transactions at all Ujjivan Bank
ATMs and 10 free transactions at other bank ATMs. For this account customers need
to maintain a monthly average balance of ₹ 10,000 per month. We also offer
customer access to the corporate internet banking platform that offers specialized
services including bulk payments, multi fund transfers, multiple user authorization,
standing instructions and schedule transfers.
c. Ujjivan Bank Regular Current Account: The Regular Current Account allows for free
cash deposits up to ₹ 150,000 per month at any of Ujjivan’s Banking Outlets.
Customer need to maintain a monthly average balance of ₹ 5,000 per month. Other
features include IMPS, RTGS and NEFT through any channel and CMS services,
benefit of RuPay Classic Debit Card and unlimited free ATM transactions at all Ujjivan
Bank ATMs and six free transactions at other bank ATMs.
d. Ujjivan Bank TASC Current Account: The TASC Current Account does not require
customers to maintain an average monthly balance. No initial deposit for account
opening is required. In addition, the following services are offered: (i) standing
instructions facility; (ii) unlimited number and amount of withdrawals at branch each
month; and (iii) SMS alerts.

II. Savings Accounts

We offer the following types of interest-bearing savings account to our customers:
a. Ujjivan Bank Regular Savings Account: No average monthly balance is required to be
maintained and there are no charges for non-maintenance of minimum balance.
Customers can undertake unlimited transactions at Ujjivan Bank ATMs and six free
transactions per month at other bank ATMs. Interest is calculated on daily end of day
balances and credited quarterly.
b. Ujjivan Bank Senior Citizen Savings Account: No average monthly balance is
required to be maintained and there are no charges for non-maintenance of
minimum balance. Customers can undertake unlimited transactions at Ujjivan ATMs
and six free transactions per month at other bank ATMs. Interest is calculated on
daily end of day balances and credited quarterly. We offer senior citizens with
doorstep services and offer 25 free cheque leaves per quarter.
c. Ujjivan Bank Corporate Salary Account: No average monthly balance is required to
be maintained and there are no charges for non-maintenance of minimum balance.
Customers can undertake unlimited transactions at Ujjivan ATMs and six free
transactions per month at other bank ATMs. In addition, customers are offered a
lifetime free ATM-cum-debit card. Interest is calculated on daily end of day balances
and credited quarterly.
d. Ujjivan Bank Minor Savings Account: No average monthly balance is required to be
maintained and there are no charges for non-maintenance of minimum balance. This
account can be opened jointly with a guardian and can be operated by the parent/
 guardian till the minor becomes a major. The account can also be converted into a
regular savings account when the minor attains 18 years of age. Customers can
undertake unlimited transactions at our ATMs and six free transactions per month at
other bank ATMs. Interest is calculated on daily end of day balances and credited
quarterly.
e. Ujjivan Bank Basic Savings Bank Deposit Account: No average monthly balance is
required to be maintained and there are no charges for non-maintenance of
minimum balance. These accounts can be opened as a single or joint account.
Customers can undertake four free transactions across all channels. Interest is
calculated on daily end of day balances and credited quarterly.
f. Ujjivan Bank Basic Savings Bank Deposit Small Account: No average monthly
balance is required to be maintained and there are no charges for non-maintenance
of minimum balance. There are no KYC requirements to open the account and the
account is valid for a period of 12 months. Interest is calculated on daily end of day
balances and credited quarterly. These accounts provide certain restrictions on
balances maintained (maximum of ₹ 50,000), withdrawals or transfers (maximum of
₹ 10,000) and amount of deposits in a year (maximum of ₹ 100,000).
g. Ujjivan Bank Privilege Savings Account: This is a savings account specifically
designed for customers who require access to privilege banking. The account offers
Rupay platinum card at zero issuance fee, unlimited fund transfers through mobile
and internet banking, accidental insurance cover up to ₹ 200,000. Account holders
are required to maintain an average monthly balance of ₹ 25,000 and above, or
maintain a fixed deposit of ₹ 1 million or above or have a salary of ₹ 30,000 per
month.
h. Ujjivan Bank Institutional Segment Savings Account: No average monthly balance is
required to be maintained and there are no charges for non-maintenance of
minimum balance. Customers can undertake 100 free electronic transfers, and no
limit on the number and amount of monthly withdrawals. Interest is calculated on
daily end of day balances and credited quarterly.
i. Ujjivan Bank NRO Savings Account: Low average monthly balance of ₹ 10,000.
Customers can undertake unlimited transactions at Ujjivan ATMs and six free
transactions per month at other bank ATMs. Interest is calculated on daily end of day
balances and credited quarterly. Unlimited free NEFT and RTGS transactions are
permitted. Interest rate for the NRO fixed deposits ranges between 5.50% to 8.30%
per annum.
j. Ujjivan Bank NRE Savings Account: Low Average monthly balance of ₹ 10,000.
Customers can undertake unlimited transactions at Ujjivan ATMs and six free
transactions per month at other bank ATMs. Interest is calculated on daily end of day
balances and credited quarterly. Unlimited free NEFT and RTGS transactions are
permitted. Customers have the ability to repatriate funds overseas. Interest rate for
NRE fixed deposits ranges between 6.50% to 8.30% per annum. Interest rate for
domestic savings accounts ranges between 4% to 7% per annum.

III. Term Deposits

They offer the following types of deposits to their customers:
a. Ujjivan Bank Fixed Deposits: The minimum amount that can be deposited is ₹ 1,000
and in multiples of ₹ 100 thereof. Fixed deposits can be opened for a minimum
period of 7 days to a maximum of 10 years. Interest payment options are monthly
(with at a discounted rate), quarterly, half yearly, annually and at maturity. The rate
of interest paid for fixed deposits varies according to tenure and amount and higher
interest rates are offered to senior citizens. Premature closure and partial
withdrawals are permitted.
b. Ujjivan Bank Recurring Deposits: The minimum amount that can be deposited is ₹
100 and in multiples of ₹ 100 thereof. Recurring deposits can be opened for a
minimum period of 6 months to a maximum of 10 years. Interest payment is
quarterly and at maturity. The rate of interest paid for fixed deposits varies
according to tenure and amount and higher interest rates are offered to senior
citizens. Premature closure and partial withdrawals are permitted.
c. Ujjivan Bank TASC Fixed Deposits: The minimum amount that can be deposited is ₹
25,000 and in multiples of ₹ 1,000 thereof. TASC fixed deposits can be opened for a
minimum period of 7 days to a maximum of 10 years. Premature closure and partial
withdrawals are permitted. Interest payment is monthly, quarterly, half yearly,
annually and at maturity. The rate of interest paid for fixed deposits varies according
to tenure and amount.
d. Ujjivan Bank Tax Saver Fixed Deposit: The minimum amount that can be deposited
is ₹ 1,000 up to a maximum of ₹ 150,000 and are subject to a five year lock-in. Only
residents and HUFs are eligible for this type of deposit where tax exemptions on
these deposits can be claimed under Section 80C of the Income Tax Act, 1961.
Interest payment is monthly, quarterly or at maturity.

 Institutional Products
They receive deposits in the form of fixed deposit receipts and certificate of deposits from
various mutual funds, banks and from cooperative banks, insurance companies, NBFCs/
MFIs and other financial institutions.
The FIG Liabilities Team raises bulk deposits in the form of certificate of deposits, fixed
deposit receipts and term money and also opens current account of entities. They maintain
relationship with banks for interbank limits and set exposure limits for other banks.

 Other Products and Services

a. ATM-cum-Debit Cards
They offer their customers Ujjivan Bank RuPay ATM-cum-debit cards that can be used at
ATMs, POS terminals and online platforms. As of September 30, 2019, their customers have
used the Ujjivan Bank RuPay Card over 33 million times transacting ₹ 126,059.40 million. As
of September 30, 2019, 63.95% users used the Ujjivan Bank RuPay ATM-cum-debit cards.
 b. Aadhaar Enrolment Services
They are authorized to run AECs where customers and members of the general public can
enroll for Aadhaar or get their Aadhaar data updated. As of September 30, 2019, they have
processed 17,389 enrollments/ mandatory bio-metric and 12,887 updations. They use the
AEC as a source to generate new business and customers.
c. Sale of Third Party Insurance Products
They offer their loan borrowers, co-borrowers and spouses the option of enrolling under
group insurance schemes with voluntary consent obtained. To provide insurance products
they have corporate agency arrangements with life insurance companies, general insurance
companies and health insurance companies to distribute their insurance products. They
have also obtained corporate agency license from IRDAI, post obtaining a no-objection
certificate from the RBI to undertake the activity of distribution of insurance products on a
non-risk sharing basis without any commitment of own funds. They have an approval from
the PFRDA for distribution of Atal Pension Yojana scheme under the PFRDA (Point of
Presence) Regulations, 2018. They have introduced a hospital daily cash policy, property
insurance for housing, endowment policy, term insurance, unit linked plans, motor
insurance and personal accident cover policies for customers across segments.