Unity Small Finance Bank (SFB) has revised its interest rates on fixed deposits for amount below Rs 2 crore. The latest FD interest rates are applicable from October 9, 2023, according to the Unity Small Finance Bank website.
“The 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”, according to the bank press release.
This bank has hiked FD interest rates by up to 1.25%: Check details
On deposits with maturities ranging from 7 days to 10 years, the bank offers interest rates ranging from 4.50% to 9% for general citizens and between 4.50% to 9.5% for senior citizens.
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.
| 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 | 5.25% | 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% |
Source: Press release
Mahila Samman Savings Certificate vs bank FDs: Which is offering higher interest rate?
Premature withdrawal
For premature withdrawal of fixed deposit and recurring deposits, a premature penalty of 1.00% shall be charged to the rate applicable for the period the deposit has remained with the bank, or the contracted rate, whichever is lower, according to the website.
Savings account interest rates
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. |
