Unity Small Finance Bank (SFB) has revised its interest rates for fixed deposits below Rs 2 crore. These new FD interest rates came into effect on October 9, 2023, according to the bank’s website.
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“The bank has hiked its interest rates offered on Fixed Deposits kept for 701 Days. It now offers senior citizens an attractive rate of 9.45% p.a. on Fixed Deposits invested for 701 days, whereas general investors will earn 8.95 percent p.a. for the same duration,” according to the bank press release.
For deposits with maturities spanning from 7 days to 10 years, Unity Bank provides interest rates varying between 4.50 percent and 9 percent for general citizens and 4.50% to 9.5% for senior citizens.
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Furthermore, Unity Bank maintains a constant interest rate of 9.50 percent p.a. for senior citizens and 9 percent p.a. for general investors for a 1001-day term. Additionally, for tenures of 181 to 201 days and 501 days, Unity Bank offers an interest rate of 9.25 percent p.a. for senior citizens and 8.75 percent p.a. for general investors.
This bank has hiked FD interest rates by up to 1.25 percent
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Bank of Maharashtra (BoM) has raised its fixed deposit rates by 125 basis points, equivalent to 1.25 percent. These updated rates take effect on October 12, 2023.
As per a PTI report, the deposit rates have been boosted by 125 basis points for the 46-90 day duration. For deposits of one year or longer, customers will now experience a 25 basis point increase, bringing the rate to 6.25 percent.
As per the announcement, senior citizens will enjoy an extra benefit of 50 basis points in interest rates, providing an attractive deposit rate of up to 7.5 percent in the special plan lasting 200/400 days.
