Unity Small Finance Bank Revises FD Rates for General Customers, Senior Citizens

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Last Updated: November 02, 2022, 13:46 IST

India’s first digital bank has launched Shagun 366 for a year.

India’s first digital bank has launched Shagun 366 for a year.

The bank is offering retail customers an attractive return of 7.80% per annum, whereas senior citizens will earn 8.30% per annum for a 366 days tenure.

Several Indian Banks have revised their interest rates for fixed deposits. Another small finance bank to join the line is Unity Small Finance Bank. India’s first digital bank has launched Shagun 366 for a year. The bank is offering retail customers an attractive return of 7.80% per annum whereas senior citizens will earn 8.30% per annum for a 366 days tenure. However, this deal can be availed up to November 30, 2022.

Here are the updated rates of the Unity Bank-

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7-14 Days – 4.50%
15-45 Days – 4.75%
46-60 Days – 5.25%
61-90 Days – 5.50%
91-180 Days – 5.75%
181 – 364 Days – 6.75%
1 Year – 7.35 %
1 year 1 day – 7.80%
1 year 1 day – 500 days – 7.35%
501 days – 7.35%
502 days to 18 months – 7.35%
18 months to 2 years – 7.40%
2 years to 3 years – 7.65%
3 years to 5 years – 7.65%
5 years to 10 years – 7.00%

Apart from the above, Unity Bank has also increased its interest rates on Callable and Non-Callable Bulk Deposits. The initiative can only be availed for deposits higher than Rs 2 crore. Callable bulk deposits offer up to 7.75% interest per annum, whereas the non-callable bulk deposits offer up to 7.85% interest per annum.

It’s interesting to note that Unity Bank is paying 6% interest on deposits made into savings accounts up to Rs 1 lakh. Unity Small Finance Bank further lightens the deal for customers of savings accounts by paying an annual interest rate of 7% on deposits between Rs 1 lakh and Rs 10 crore. A Scheduled Commercial Bank, Unity Small Finance Bank is sponsored by Centrum Financial Services Ltd and has Resilient Innovations Pvt Ltd as a joint investor.

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