Unity Small Finance Bank FD Interest Rates

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Unity Small Finance Bank is one of the fastest-growing small finance banks in India. The bank aims to make financial stability a reality for individuals by easing the banking process and ensuring regular access. Unity Bank also curates new-age banking products catering to their diversified customer base and small businesses. Want to save your money for your child’s education, or buy a new car or to go on a vacation? Investing in a fixed deposit scheme can be your best option. With Unity Small Finance Bank’s fixed deposit scheme, you can save your money for a fixed tenure with the amount of your choice and assured returns after maturity.

Let’s explore to get detailed information about Unity Small Finance Bank FD rates and other FD schemes:

Minimum Deposit	₹1,000
Maximum Deposit	No maximum limit
Minimum Tenure	7 days
Maximum Tenure	10 years
Interest Rates	4.50% to 9.50% p.a. (including the interest rates for senior citizens)
Lock-in Period	No lock-in period
Senior Citizen	4.50% – 9.50% p.a.
General Citizen	4.50% – 9.00% p.a.

Table of Contents

Unity Small Finance Bank FD Rates 2024

Tenure	General Citizen	Senior Citizen

Features and Benefits of Unity Small Finance Bank FD

Let us understand the different features, as well as the advantages applicable to your Unity Small Finance Bank fixed deposit account.

Unity Small Finance Bank’s fixed deposit is a safe, low-risk investment option. You get an assured return on your deposit, irrespective of the volatile condition of the market.
You can start your fixed deposit scheme with a minimum investment of ₹1,000. The bank gives you the flexibility to deposit the amount of your choice.
Unity Small Finance Bank FD rates are attractive and start from 4.50% and go up to 9.00% for general citizens.
Avail overdraft facility against your fixed deposit account with Unity Small Finance Bank. It is a beneficial feature in case you require immediate financial support.
You can choose from different options, such as monthly or quarterly interest payouts or can directly receive it after the end of the maturity period.
Unity Small Finance Bank FD rates for senior citizens are higher, and they get an additional interest of 0.50% on the general rates.

How to Book Unity Small Finance Bank FD?

Booking a Unity Small Finance Bank fixed deposit account is only possible using the offline method. Let us take a look at the simple steps to follow to open your FD.

Step 1: Visit the nearest branch of Unity Small Finance Bank.
Step 2: Ask the executive of the bank to give you an application form to open the FD account. Fill the form with all required details, such as personal information, contact number, nominee details and others.
Step 3: Select the deposit tenure for which you want to continue this FD.
Step 4: Attach the cheque for the deposit, or you can also pay using cash. Moreover, bank transfer is also applicable here.
Step 5: Submit your properly filled FD form with the required documents stated by the bank executive.
Step 6: After successful verification of the documents and form, the personnel will provide you with an acknowledgement slip. This denotes the successful completion of the account opening process.

Documents Required to Book Unity Small Finance Bank FD

Check the following list to know all the documents necessary for you to produce when opening a Unity Small Finance Bank fixed deposit account.

PAN card
Duly filled FD application form
Proof of identity – Aadhaar card, driving licence, etc.
Proof of age – Ration card, voter ID card, school passing certificate, etc.
Proof of address – Aadhar card, electricity bill, Voter ID card or any other valid document.
Passport-sized photograph of the depositor
Bank account details – account number, IFSC code, and branch name.

Eligibility to Open Unity Small Finance Bank FD

Unity Small Finance Bank requires you to follow the eligibility criteria stated below to open and operate a fixed deposit account.

Type of Applicant: Indian residents, Sole proprietorship forms, HUFs (Hindu Undivided Families), Limited companies, and Trust accounts.
Age of Applicant: Has to be 18 years of age.

Types of Unity Small Finance Bank FD Scheme

Utility Small Finance Bank offers a single type of fixed deposit account, and below are the details:

1. Regular Fixed Deposit Scheme

This scheme allows you to invest your money for a fixed tenure and get an attractive interest rate. The interest rates may change without any prior notice, but if you already booked your FD, the changed interest rate will not affect your investment.

Unity Small Finance Bank gives you the opportunity to prematurely withdraw your fixed deposit. However, you will be subjected to a penalty of 1.00% on the applied interest rate for the deposit amount remaining in the bank or contracted rate, whichever is lower.

Unity SFB employees get 1% additional interest on the rate applicable for the FD account. Apart from that, senior citizens also get additional benefits while booking an FD. Unity Small Finance Bank FD rates for senior citizens are 0.50% more than the general rate, subject to a minimum tenure of 46 days.

Minimum Amount: ₹1,000
Maximum Amount: No maximum limit
Tenure: 7 days to 10 years
Interest Rate: 4.50% to 9.00% for general citizens and 4.50% to 9.50% for senior citizens.
Eligibility Criteria: Indian residents

*Note: To invest more than ₹2 crores, you must reach out to the bank to get detailed information.

Having all the details regarding a fixed deposit account helps you make informed decisions on your investment. As Unity Small Finance FD rates are attractive and high when compared to other small finance banks, investing in this low-risk and secured deposit option can be beneficial for your monetary growth.

FAQs

Does Unity Small Finance Bank offer additional benefits to everyone who wants to open an FD?

There are additional benefits for senior citizens and Unity SFB employees if they book an FD with the bank. Senior citizens get an additional interest rate of 0.50%, while bank employees get 1.00% on top of the general rate.

If I want to invest my money in the bank’s FD account for 200 days, will I get any added benefit?

Unity Small Finance Bank FD rates for investments above the tenure of 6 months to 201 days are high compared to other rates. It is 8.75% for general individuals and 9.25% for senior citizens.

If I want to invest my money in the bank’s FD account for more than 500 days, what will be the interest rate?

You can get a high-interest rate of 8.75%, applicable to general citizens, and 9.25% for senior citizens if you invest your money for a fixed tenure of 501 days.

What will be the interest rate, If I want to invest my money in the bank’s FD account for 1000 days or more, will I get any added benefit?

For FDs with a tenure of more than 1000 days, the interest rate applicable for general citizens is 9%, and for senior citizens, it is 9.50%.

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Disclaimer

This article is solely for educational purposes. Stable Money doesn't take any responsibility for the information or claims made in the blog.