CURRENT AFFAIRS

Detailed explanation-1: -Ujjivan Small Finance Bank has announced the launch of a “Women Savings Account” on Monday catering to the financial needs of women. ‘Garima Savings Account’, as the product has been named, will offer multiple customised benefits to women, including up to a maximum of 7% rate of interest on the savings account.

Detailed explanation-2: -As per the official website of the bank, the new rates are effective as of 1st November 2022. The revised interest rates apply to both domestic and non-resident accounts. After the adjustment, Ujjivan SFB currently grants savings bank deposits with a maximum interest rate of 7.50%.

Detailed explanation-3: -Eligibility: Low Minimum Average Balance requirement of ₹5, 000. Any resident individual with 18+ years of age is eligible to open the account.

Detailed explanation-4: -Utkarsh Small Finance Bank Savings Account Interest Rate With Utkarsh Small Finance Bank, account holders can earn a savings account interest rate of 5% p.a. on balance up to Rs. 1 lakh. Also, account holders can earn 6% interest on Incremental balance Above Rs.