Unity Small Finance Bank on Monday, January 22, enhanced its savings account interest rate slabs. After the revision, HNIs maintaining balances greater than ₹5 crore will earn 7.75% per annum interest. The lender also added slabs offering 7.50% per annum on deposit balances greater than ₹20 lakh and up to ₹5 crore.
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Additionally, the lender said it will offer 7.25% per annum on deposits greater than ₹5 lakh and up to ₹20 lakh.
For deposits up to ₹1 lakh, Unity Bank offers an interest rate of 6.00% per annum. For balances greater than ₹1 lakh up to ₹5 lakh, it offers 7.00% per annum.
The savings account interest rates stands revised from January 22, 2024 as follows:
| Savings Account Balance | Interest rate p.a. (%) |
| Up to ₹1 lakh | 6.00% |
| >₹1 lakh to ₹5 lakh | 7.00% |
| > ₹5 lakh to ₹20 lakh | 7.25% |
| > ₹20 lakh to ₹5 crore | 7.50% |
| > ₹5 crore | 7.75% |
(Source: Unity Bank)
On fixed deposits, Unity Bank offers an interest rate of 9.50% per annum to senior citizens and 9.00% per annum to general investors for a tenure of 1,001 days.
Details across all tenures and amounts are given below:
| Tenure | General FD interest rates | Senior Citizen FD interest rates |
| 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: Unity Bank)
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.
(Edited by : Anshul)
First Published: Jan 22, 2024 2:12 PM IST
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