Interest charges on FDs of various maturities
For deposits maturing between seven and 14 days, the bank offers an interest fee of 4.5 per cent. For FDs maturing between 15 and 45 days, the interest fee will probably be 4.75 per cent. Investors will get an interest fee of 5.25 per cent for the fixed deposits maturing between 46 and 60 days. For fixed deposits maturing between 61 and 90 days, the interest fee will probably be 5.50 per cent. Unity Bank will supply an interest fee of 5.75 per cent for the deposits maturing between 91 to 180 days. FDs maturing between 181 and 364 days, the interest fee will probably be 6.75 per cent. Investors will get an interest fee of seven.35 per cent for FDs maturing in a yr.
Unity Bank will supply an interest of seven.35 per cent for FDs maturing between one yr and sooner or later and 18 months. For deposits maturing between greater than 18 months and two years, the interest fee will probably be 7.4 per cent. The deposits maturing between greater than two years and 5 years, the interest fee will probably be 7.65 per cent. Customers will get an interest fee of seven per cent for fixed deposits maturing between 5 years to 10 years.
Fixed deposit interest charges provided by Unity Bank (efficient from November 1, 2022)
| 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% |
| 91-180 Days | 5.75% | 6.25% |
| 181 – 364 Days | 6.75% | 7.25% |
| 365 Days(1 Year) | 7.35% | 7.85% |
| 1Year – 1 day | 7.80% | 8.30% |
| >1Year 1 day – 500 days | 7.35% | 7.85% |
| 501 days | 7.35% | 7.85% |
| 502 days – 18 M | 7.35% | 7.85% |
| >18 M -2 Year | 7.40% | 7.90% |
| >2 Year -3 Year | 7.65% | 8.15% |
| >3 Year – 5Year | 7.65% | 8.15% |
| >5 Year – 10 Year | 7.00% | 7.50% |
Source: Unity Bank
Senior residents can earn as much as 8.15 per cent on FDs of different maturities
Senior residents can earn an interest fee of seven.85 per cent for fixed deposits maturing in a single yr. FDs maturing between one yr and sooner or later and 18 months, the interest fee will probably be 7.85 per cent. Unity Bank offers an interest fee of seven.9 per cent for deposits maturing between 18 months and two years. Senior residents can fetch an interest fee of 8.15 per cent interest for FDs maturing between greater than two years and 5 years.
Make of observe of those components earlier than investing
Customers can begin a fixed deposit with a minimal quantity of Rs 1,000. A resident particular person, a senior citizen, or a member of a Hindu Undivided Family or personal or public firms, partnership companies can open a fixed deposit with the Unity Bank. Do observe that banks can change the interest charges of fixed deposits with none prior discover.
For untimely withdrawal of fixed deposits, the banks can pay the corresponding FD interest fee minus 1 per cent for the tenure for which the deposit has been opened.
Owing to their business mannequin, small finance banks can’t be stored on par with different scheduled industrial banks. Hence FDs from SFBs are additionally not comparable by way of threat profile to full-service banks. However, in relation to DICGC cowl, do needless to say deposits in small finance banks are additionally insured by the Deposit Insurance Credit Guarantee Corporation (DICGC) to the tune of Rs 5 lakh. Most of the consultants advise layman retail buyers to maintain their publicity restricted in FDs of SFBs in order that it’s effectively inside DICGC cowl of Rs 5 lakh together with principal and interest.
