Taking advantage of the high interest rate regime, Unity Small Finance Bank Limited (Unity Bank), a new age, digital first bank, has hiked its interest rates offered on Fixed Deposits kept for 701 Days.
Fintech BizNews service
Mumbai, October 16, 2023: Taking advantage of the high interest rate regime, Unity Small Finance Bank Limited (Unity Bank), a new age, digital first bank, has hiked its interest rates offered on Fixed Deposits kept for 701 Days. It now offers senior citizens an attractive rate of 9.45% p.a. on Fixed Deposits invested for 701 days, whereas general investors will earn 8.95% p.a. for the same duration.
Unity Bank continues to offer an interest rate of 9.50% p.a. to senior citizens and 9.00% p.a. to general investors for a tenure of 1001 days. Additionally, for tenures of 181 – 201 days and 501 days, Unity Bank offers an interest rate of 9.25% p.a.to senior citizens and 8.75% p.a. to general investors. On Savings Accounts, Unity Bank offers an interest of 7% p.a. for deposits greater than Rs 1 lakh and 6% p.a. for deposits upto Rs 1 lakh.
Unity Bank is a Scheduled Commercial Bank, promoted by Centrum Financial Services Ltd with Resilient Innovations Pvt Ltd as a joint investor. Details across all tenures and amounts are given below:
A. FIXED DEPOSIT RATE: Retail Investors
The deposit interest rate stands revised from 09th Oct, 2023 as follows:
Tenure | General FD Rates % p.a. | Senior Citizen FD Rates % p.a. |
7 - 14 Days | 4.50% | 4.50% |
15 - 45 Days | 4.75% | 4.75% |
46 - 60 Days | 5.25% | 5.75% |
61 - 90 Days | 5.50% | 6.00% |
91 - 164 Days | 5.75% | 6.25% |
165 Days - 6 Months | 5.75% | 6.25% |
> 6 Months - 201 Days | 8.75% | 9.25% |
202 - 364 Days | 6.75% | 7.25% |
1 Year | 7.35% | 7.85% |
1 Year 1 day | 7.35% | 7.85% |
> 1Year 1 day - 500 days | 7.35% | 7.85% |
501 Days | 8.75% | 9.25% |
502 Days - 18 Months | 7.35% | 7.85% |
> 18 Months - 700 Days | 7.40% | 7.90% |
701 Days | 8.95% | 9.45% |
702 Days - 1000 Days | 7.40% | 7.90% |
1001 Days | 9.00% | 9.50% |
1002 Days - 3 Year | 7.65% | 8.15% |
> 3 Year - 5 Year | 7.65% | 8.15% |
> 5 Year - 10 Year | 7.00% | 7.50% |
B. SAVING DEPOSIT RATE: Retail Investors
The Saving deposit interest rate stands revised from January 22, 2022 as follows:
Tenure | Rates (%) |
Upto 1 lakh | 6.00% |
>1 lakh-5 lakh |
7.00% |
>5 lakh -50 lakh | |
>50 lakh – 10 cr. | |
>10 cr. |
