Unity Small Finance Bank (Unity Bank) on Wednesday, December 6, enhanced its savings account interest rates slabs. It has added an additional slab offering 7.75% per annum on deposits greater than ₹5 crore. The additional slab will benefit HNIs and institutional clients, the lender said.
For deposits up to ₹1 lakh, Unity Bank offers an interest rate of 6.00%, whereas on balances between ₹1 lakh – ₹5 crore, it offers 7.00% interest rate.
The savings account interest rates stands revised from November 30, 2023 as follows:
| Savings Account Balance | Interest Rate p.a. (%) |
| Up to ₹1 lakh | 6.00% |
| ₹1 lakh to ₹5 crore | 7.00% |
| Greater than ₹5 crore | 7.75% |
On fixed deposits, Unity Bank offers an interest rate of 9.50% to senior citizens and 9.00% to general investors for a tenure of 1,001 days.
Details across all tenures and amounts are given below:
| 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 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% |
For premature withdrawal of
fixed deposit and recurring deposits, a premature penalty of 1% is charged to the rate applicable for the period the deposit has remained with the bank, or the contracted rate, whichever is lower, the lender said.
(Edited by : Anshul)
First Published: Dec 6, 2023 4:52 PM IST
