Unity Small Finance Bank has introduced a special offer for those who open a Savings Account.
While many banks increase interest rates to attract customers, Unity Small Finance Bank has gone a step further by adding an extra benefit.
This is similar to increasing the interest rate on a savings account.
As per Unity Small Finance Bank’s announcement, a new option with an interest rate of 7.50 percent has been introduced.
However, there’s a condition – you need to deposit a minimum of Rs 20 lakh, and the maximum deposit allowed is Rs 5 crore.
If you keep money between Rs 5 lakh to Rs 20 lakh in your savings account, you will receive an interest rate of 7.25 percent.
Unity Bank is offering a 6 percent interest rate on deposits up to Rs 1 lakh. For deposits ranging from Rs 1 lakh to Rs 5 lakh, the interest rate is 7 percent.
High Net Worth Individuals (HNIs) with more than Rs 5 crore in their accounts are eligible for an annual interest rate of 7.75 percent.
Now, let’s talk about the Fixed Deposit (FD) rates offered by Unity Small Finance Bank
Unity Small Bank provides interest rates ranging from 4.50 percent to 9 percent on FDs. This interest rate applies to FDs with durations from 7 days to 10 years.
Senior citizens are eligible for a higher interest rate of up to 9.50 percent. The maximum interest rate for regular customers is 9 percent on an FD with a duration of 1001 days.
For other durations, Unity Small Finance Bank offers
4.50 percent interest on FDs for 7-14 days
4.75 percent interest on FDs for 15-45 days
5.25 percent interest on FDs for 46-60 days
5.50 percent interest on FDs for 61-90 days
5.75 percent interest on FDs for 91-164 days
5.75 percent interest on FDs for 165 days to 6 months
If you opt for an FD for 6 months to 201 days, you’ll receive an 8.75 percent interest rate. Similarly, an 8.75 percent interest rate is available on a 501-day FD.
For FDs with durations from 202 days to 364 days, the interest rate is 6.75 percent, and a 1-year FD offers 7.35 percent interest.
For FDs ranging from 1 year to 3 years, the interest rate varies from 7.35 percent to 7.65 percent.
A 3-year to 5-year FD attracts an interest rate of 7.65 percent, and a 5-10 year FD offers a 7 percent interest rate.
