Unity Small Finance Bank has raised interest rates for its fixed deposit and savings account customers. FD customers will get interest rates up to 9.5%, while savings account holders can receive up to 7.5% per annum.
Unity Small Finance Bank (Unity Bank), a new-age digital first bank, has raised interest rates for its fixed deposit and savings account customers.
Unity Small Finance Bank savings account rates
For balances up to Rs 1 lakh, Unity Bank offers an interest rate of 6% per annum. The private sector bank is offering now 7.25% per annum interest rate on deposits of greater than Rs 1 lakh and up to Rs 5 lakh. It provides 7.5% per annum rate on deposits of more than Rs 5 lakh and up to Rs 50 lakh and 7.75% on balances greater than Rs 50 lakh, the bank said in release on June 24.
“Interest on all slabs is paid monthly and will provide our valued customers with greater flexibility and benefits as they save for their financial goals,” Unity Small Finance Bank said.
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| Savings Account Balance | Interest rate p.a. |
| Up to Rs 1 lakh | 6% |
| Rs 1 lakh to Rs 5 lakh | 7.25% |
| Rs 5 lakh to Rs 50 lakh | 7.50% |
| Over Rs 50 lakh | 7.75% |
Unity Small Finance Bank FD rates
On fixed deposits, Unity Bank continues to offer an interest rate of 9.5% per annum to senior citizens and 9% per annum to general investors for a tenure of 1001 days. This is the highest interest rate slab for the bank. In the lowest rate slab (165 days to 6 months), Unity Bank offers 6.25% interest rate to general customers and 6.75% to senior citizens.
On FDs with tenures spanning 201 days to 364 days, the bank offers 8.5% interest rate per annum to general subscribers and 9% to senior citizens. General customers booking FDs of 501 days tenure will get 8.75% return per annum and senior citizens 9.25%
On FDs with a tenure of 701 days, normal investors would get 8.95% per annum and senior citizens up to 9.45%.
Its FDs of highest tenure (5 year to 10 years) would fetch 7.5% interest rate per annum to general customers and 8% per annum to senior citizen customers.
Details across all tenures and amounts are given below:
| 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 | 5.75% | 6.25% |
| 61 – 90 Days | 6.00% | 6.50% |
| 91 – 164 Days | 6.25% | 6.75% |
| 165 Days – 6 Months | 6.25% | 6.75% |
| > 6 Months – 201 Days | 8.50% | 9.00% |
| 202 – 364 Days | 7.25% | 7.75% |
| 1 Year | 7.85% | 8.35% |
| 1 Year 1 Day | 7.85% | 8.35% |
| > 1Year 1 Day – 500 Days | 7.85% | 8.35% |
| 501 Days | 8.75% | 9.25% |
| 502 Days – 18 Months | 7.85% | 8.35% |
| > 18 Months – 700 Days | 7.90% | 8.40% |
| 701 Days | 8.95% | 9.45% |
| 702 Days – 1000 Days | 7.90% | 8.40% |
| 1001 Days | 9.00% | 9.50% |
| 1002 Days – 3 Year | 8.15% | 8.65% |
| > 3 Year – 5 Year | 8.15% | 8.65% |
| > 5 Year – 10 Year | 7.50% | 8.00% |
About Unity Small Finance Bank Limited
Unity Small Finance Bank is a scheduled commercial bank, promoted by Centrum Financial Services Ltd, with Resilient Innovations Pvt Ltd as a joint investor. It strives to be a Digital First Bank with a business model of collaboration and open architecture, uniting all its stakeholders to deliver a seamless digital banking experience.
Driven by its mission to have the highest standards of Corporate Governance, Unity Bank has in place a strong Board comprising of industry veterans. It offers services across branch banking, business banking, inclusive banking, digital banking and treasury services.
