FD interest rate: In FY23, bank fixed deposit (FD) interest rates have risen from around 5.5 per cent to average 7 per cent. Thanks to high interest rate regime that Reserve Bank of India (RBI) Governor Shaktikanta Das had to adopt to contain inflation. However, in this high interest rate regime, some banks are giving return on deposits that are higher than Public Provident Fund (PPF) interest rate of 7.10 per cent per annum. Unity Small Finance Bank is one such bank, which is giving FD interest rate up to 9 per cent for general depositors. For senior citizen bank FD account holders, there is an additional 50 bps interest rate given that means a senior citizen fixed deposit account holder at this bank is getting up to 9.50 per cent return annually.
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Bank FD return for public in general
As per the information available on website of Unity Small Finance Bank, the private lender is offering general FD rate of 8.75 per cent on fixed deposits for 181-201 days tenure. On general fixed deposits for 501 days, FD rates offered by this bank is 8.75 per cent. However, on fixed deposits for 1001 days tenure, Unity Small Finance Bank is offering 9 per cent fixed deposit interest rate.
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Senior citizen FD rates
Like any other banks, Unity Small Finance Bank is offering an additional 50 bps interest rate on bank fixed deposits belonging to senior citizens. This means, if a senior citizen opens a fixed deposit account in Unity Small Finance Bank for tenor 181 to 201 days and 501 days, FD rate offered for the senior citizen is 9.25 per cent per annum. However, on a senior citizen fixed deposit account for 1001 days tenure, fixed deposit rate offered by this bank is 9.50 per cent.
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See Unity Small Finance Bank FD rates below:
So, Unity Small Finance Bank is offering general FD rate up to 9 per cent and in case of a senior citizen, fixed deposit interest rate is up to 9.50 per cent per annum.