Unity Small Finance Bank currently offers a high interest rate for those interested in making a fixed deposit with the bank. Senior citizens can benefit from a special scheme with a maximum interest rate of 9.5%, which no other major bank offers. Due to its high interest rates, investing in fixed deposits is generally considered safe and attractive.
Senior citizens who are looking for financial security through stable monthly income often prefer to invest in fixed deposits. Banks generally offer higher interest rates to senior citizens than to other customers.
Unity Small Finance Bank Special FD Interest Rates 2024
Unity Small Finance Bank offers a special scheme where senior citizens can avail of the highest interest rate of 9.5% on a maturity period of 1001 days. This is significantly higher than the interest rate of 9% offered on the same tenure. Typically, banks offer an interest rate of 50 basis points higher for senior citizens. However, small finance banks are offering higher interest rates to attract customers.
For instance, if someone deposits Rs.1 lakh in the name of a senior citizen for a 1001 day tenure with Unity Small Finance Bank, they can calculate the interest and principal amount in advance through the online FD calculator.
After the maturity period, the depositor can expect to receive Rs.20,834 as interest and the principal amount of Rs.1,00,000, totalling Rs.1,20,834. On the other hand, general customers will receive a 9% interest rate, which means they will receive more than Rs.19,000 as interest and a total of Rs.1,19,000.
To get more information and the terms and conditions of Unity Bank Interest Rates 2024, visit the bank’s nearby branch channel or its official website.
