Increased FD Interest Rates: The interest rates on Fixed Deposit (FD) schemes have been increased by Unity Small Finance Bank. Senior citizens can now earn interest rates of up to 9% on FDs invested for terms of 181 days or 501 days. The standard FD interest rate for the same term is 8.50%.
The bank offers 4.50 percent and 4.75 percent interest rates on fixed deposits with terms of 7-14 days and 15-45 days for both general and senior citizens. The normal FD rate for 46-70 days is 5.25 percent, while the rate for senior citizens is 5.75 percent. A detailed list of Unity Small Finance Bank’s revised Fixed Deposit rates is provided below. These modifications will take effect on November 18, 2022.
Unity Small Finance Bank also stated in the announcement that interest rates are subject to change without notice. Furthermore, it is stated that if a Fixed Deposit is withdrawn prematurely, the interest rate payable will be the FD rate minus 1.00% for the period in which the deposit has actually run.
