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:
|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.|
Unity Small Finance Bank FD Rates 2023
|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.