Unity Bank Recurring Deposit, Fixed Deposit Rate Hike 2023: Taking advantage of the high-interest rate regime, Unity Small Finance Bank Limited (Unity Bank) has increased its interest rates offered on term deposits. The bank is now offering senior citizens an attractive rate of 9.50% on Fixed Deposits invested for 1001 days, whereas general investors will earn 9.00% p.a. for the same duration.
The revised rates offered by Unity Bank will also be applicable to recurring deposits, the bank said in a statement today (February 16, 2023).
Additionally, for tenures of 181 – 201 days and 501 days, Unity Bank is offering a special interest rate of 9.25% per annum to senior citizens and 8.75% per annum to general investors.
Also Read: Senior Citizens Get a New FD option from SBI
On Savings Accounts, Unity Bank is offering an interest of 7% per annum for deposits greater than Rs 1 lakh and 6% per annum for deposits up to Rs 1 lakh.
Unity Bank is a Scheduled Commercial Bank, promoted by Centrum Financial Services Ltd with Resilient Innovations Pvt Ltd as a joint investor.
Unity Bank Fixed Deposit/Recurring Deposit Interest Rates 2023
| 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 | 5.25% | 5.75% |
| 61-90 Days | 5.50% | 6.00% |
| 91-164 Days | 5.75% | 6.25% |
| 165-180 Days | 5.75% | 6.25% |
| 181-201 Days | 8.75% | 9.25% |
| 202–364 Days | 6.75% | 7.25% |
| 365 Days | 7.35% | 7.85% |
| 1Year 1 day | 7.35% | 7.85% |
| >1Year 1 day – 500 days | 7.35% | 7.85% |
| 501 Days | 8.75% | 9.25% |
| 502 Days – 18 M | 7.35% | 7.85% |
| >18 M -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% |
You should check the terms and conditions of Unity Bank’s deposit schemes before applying. For premature withdrawal, Unity Bank says, “interest rate payable would be corresponding FD rate minus 1.00% for the tenor for which the deposit has actually run.”
Also Read: Senior Citizen Fixed Deposit interest rate jumps to 9%: Know how much return is guaranteed
The bank also says that the above rate cards will be applicable to Recurring Deposits as well.