Unity Small Finance Bank has announced the hike in savings account interest rate by additional slabs with higher interest rates.
According to a Unity Small Finance Bank press release, “It has added additional slabs offering 7.50% p.a. on deposit balances greater than Rs. 20 lakhs and up to Rs. 5 crores. Also, it will offer 7.25% p.a. on deposits greater than Rs 5 Lakhs and up to Rs 20 lakhs.”
FD rates up to 8.40%: These banks have revised fixed deposit interest rates in January 2024
Unity Bank provides an interest rate of 6.00% per annum for deposits up to Rs 1 lakh and 7.00% per annum for balances beyond Rs 1 lakh up to Rs 5 lakhs. HNIs who keep their accounts over Rs 5 crores would receive 7.75% annual interest. Every slab has monthly interest paid on it.
| Savings Account Balance | Interest rate p.a. (%) |
| Up to Rs. 1 lakh | 6.00% |
| > Rs. 1 lakh to Rs. 5 lakhs | 7.00% |
| > Rs. 5 lakhs to Rs. 20 lakhs | 7.25% |
| > Rs 20 lakhs to Rs. 5 crores | 7.50% |
| > Rs. 5 crores | 7.75% |
Latest Unity SFB FD rates
Unity Small Finance Bank offers interest rates between 4.50% to 9% for general citizens for ranging between 7 days to 10 years.
On Fixed Deposits, Unity Bank continues to offer an interest rate of 9.50% p.a. to senior citizens and 9.00% p.a. to general investors for a tenure of 1001 days.
| Tenure | General FD Rates | Senior Citizen FD Rates |
| % p.a. | % 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% |
Premature withdrawal
According to the website, "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."
