Unity Small Finance Bank (Unity Bank) is offering strong interest on fixed deposits to senior citizens. The tenure of FD is also not for long. At the same time, other people can also take advantage of the tremendous interest rate by investing in the FD scheme of this bank.
The Reserve Bank of India (RBI) has once again increased the repo rate. After the increase in the repo rate by 0.35 percent, banks have started making their loans expensive. Along with this, the banks of the country can also increase the interest rate on Fixed Deposit (FD) in the coming days. But a bank is paying vigorous interest on fixed deposits for senior citizens. If you are a senior citizen, you can earn handsome interest by investing in the Fixed Deposit Scheme of Unity Small Finance Bank Limited.
For how many days is the FD scheme?
Unity Small Bank is offering 9% interest on Fixed Deposit for Senior Citizens. To get interest at the rate of 9 percent, senior citizens will have to invest fixed deposits for 181 and 501 days in Unity Small Finance Bank. After this, they can get 9 percent interest on an annual basis. On the other hand, retail investors will get 8.50 per cent rate of interest on fixed deposits for this period. So if you are planning to get FD these days, then you can take advantage of this scheme.
Interest rate for others
Apart from senior citizens, people of other age groups will get interest at the rate of 8.50 per cent on FDs maturing in 181 days. The bank is offering interest at the rate of 6.75 per cent on FDs maturing in 182 days to 364 days. Unity Bank is a scheduled commercial bank. Centrum Financial Services Limited is the promoter along with Resilient Innovations Pvt. Ltd. as the joint investor.
Interest rate on FD
Unity Small Bank is paying interest at the rate of 4.50 per cent on fixed deposits maturing in 7-14 days. At the same time, it is offering an interest rate of 4.75 per cent on FDs of 15 to 45 days. If someone invests in FD maturing in 46 to 60 days, then he will get interest at the rate of 5.25%. The bank will get an interest rate of 5.50% on FDs maturing in 61 to 90 days and 5.75% on FDs maturing in 91 to 180 days.
What is non-callable deposit?
Apart from this, the maximum interest rate of non-callable bulk deposit is 8.10 per cent per annum, while the callable bulk deposit will get interest at the rate of 8 per cent per annum. Non-callable deposits are those in which there is no premature withdrawal option.
