The digital-first, new-age bank Unity Small Finance Bank Limited (Unity Bank) has raised the interest rate slabs on savings accounts, according to the bank press release dated June 24, 2024.
Latest interest rates of PPF, Sukanya Samriddhi Yojana, Senior Citizen Saving Scheme, NSC, other post office schemes
On deposits up to Rs 1 lakh, the bank offers 6%. On deposit balances over Rs. 1 lakh and up to Rs. 5 lakh, it will now offer 7.25% per annum. Whereas it will offer 7.50% per annum on deposits greater than Rs 5 lakh and up to Rs 50 lakh and 7.75% on balances greater than Rs 50 lakh. Note that interest on all slabs will be paid monthly.
| Savings Account Balance | Interest rate p.a. (%) |
| Up to Rs. 1 lakh | 6.00% |
| > Rs. 1 lakh to Rs. 5 lakhs | 7.25% |
| > Rs. 5 lakhs to Rs. 50 lakhs | 7.50% |
| > Rs 50 lakhs | 7.75% |
On Fixed Deposits, 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. The deposit interest rate stands revised from May 1, 2024 as follows:
| Tenure | General FD Rates | Senior Citizen FD Rates |
| % p.a. | % 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% |
