Document
Index

Unity Small Finance Bank FD Rates 2024

By Mayashree Acharya

|

Updated on: Mar 25th, 2024

|

6 min read

Unity Small Finance Bank is known for offering attractive fixed deposit schemes to help individuals grow their savings. With competitive interest rates and flexible tenure options, Unity Small Finance Bank FDs are a popular choice for investors looking for steady returns. 

In this article, we will explore the Unity Small Finance Bank FD rates in 2024, including rates for senior citizens, types of FD schemes, and details on premature withdrawals.

Unity Small Finance Bank FD Rates 2024 

Here is a comprehensive table showcasing the Unity Small Finance Bank FD rates for 2024:

Tenure of Fixed DepositRate of Interest per annum
7 to 14 days4.50%
15 to 45 days4.75%
46 to 60 days5.75%
61 to 90 days6.00%
91 to 164 days6.25%
165 days to 6 months6.25%
More than 6 months to  201 days8.75%
202 to 364 days7.25%
1 year7.85%
1 year 1 day7.85%
More than 1 year 1 day to 500 days7.85%
501 days8.75%
502 days to 18 months7.85%
More than 18 months to 700 days7.90%
701 days8.95%
702 days to 1000 days7.90%
1001 days9.00%
1002 days to 3 years8.15%
More than 3 years to 5 years8.15%
More than 5 years to 10 years7.50%

Unity Small Finance Bank FD Rates for Senior Citizens

Senior citizens can enjoy higher interest rates on their fixed deposits with Unity Small Finance Bank. The bank offers special rates to senior citizens, providing them with an additional incentive to grow their savings. 

The table below provides the Unity Small Finance Bank fixed deposit rates for senior citizens:

Tenure of Fixed DepositRate of Interest per annum 
7 to 14 days4.50%
15 to 45 days4.75%
46 to 60 days6.25%
61 to 90 days6.50%
91 to 164 days6.75%
165 days to 6 months6.75%
More than 6 months to  201 days9.25%
202 to 364 days7.75%
1 year8.35%
1 year 1 day8.35%
More than 1 year 1 day to 500 days8.35%
501 days9.25%
502 days to 18 months8.35%
More than 18 months to 700 days8.40%
701 days9.45%
702 days to 1000 days8.40%
1001 days9.50%
1002 days to 3 years8.65%
More than 3 years to 5 years8.65%
More than 5 years to 10 years8.00%

Types of Unity Small Finance Fixed Deposit Schemes

Unity Small Finance Bank offers a variety of fixed deposit schemes to cater to the diverse needs of its customers. Whether you are looking for short-term gains or long-term investment options, Unity Small Finance Bank has a fixed deposit scheme to suit your requirements. The different types of Unity Small Finance Fixed Deposit Schemes are as follows:

  • Regular fixed deposit
  • Tax saver fixed deposit
  • Senior citizen fixed deposit
  • Callable bulk fixed deposit
  • Non-callable bulk fixed deposit

Lowest and Highest FD Interest Rate in Unity Bank

Unity Small Finance Bank offers competitive interest rates on its fixed deposit schemes, with rates varying based on the tenure of the FD. Investors can choose from a range of options and select the FD scheme that offers the best returns based on their financial goals. The lowest and highest fixed deposit rates in Unity Bank are as follows:

Particulars

Tenure

Interest Rate for General Citizens

Interest Rate for Senior Citizens

Lowest 7 - 14 Days4.50%4.50%
Highest1001 Days9.00%9.50%

Unity Small Finance Bank FD Premature Withdrawal

In case of an emergency or a change in financial circumstances, investors have the option to prematurely withdraw or close their FD with Unity Small Finance Bank. However, in such cases, a penalty of 1% will be applicable as per the bank's terms and conditions. Generally, a penalty of 1% on the applicable interest rate or contracted rate, whichever is lower, is imposed on premature withdrawals.

Tax on Unity Small Finance Bank FD Interest Income

Interest income earned from fixed deposits with Unity Small Finance Bank is subject to tax as per the income tax laws. When the interest on FD is more than Rs.40,000 for a financial year, a TDS of 10% will be deducted. However, for senior citizens, TDS will be deducted when the FD interest income is more than Rs.50,000.

Unity Small Finance Bank FD rates are highly competitive and come with a range of attractive, flexible tenure options. By choosing the right FD scheme based on your financial goals, you can secure steady returns and grow your savings with Unity Small Finance Bank.

Other Finance Bank FD Interest Rates:
1. Jana Small Finance Bank FD Rates
2. Ujjivan Small Finance Bank FD Rates
3. AU Small Finance Bank FD Rates
4. Utkarsh Small Finance Bank FD Rates
5. Small Finance Bank FD Rates
6. Equitas Small Finance Bank FD Rates
7. Suryoday Small Finance Bank FD Rates

Other Banks FD Interest Rates:
1. Kotak Mahindra Bank FD Interest Rates
2. Indian Bank FD Interest Rates
3. Canara Bank FD Interest Rates
4. HDFC Bank FD Interest Rates
5. ICICI Bank FD Interest Rates
6. Axis Bank FD Interest Rates
7. SBI FD Interest Rates

Can't get yourself started on taxes?
Get a Cleartax expert to handle all your tax filing start-to-finish

Frequently Asked Questions

What is the FD interest rate in Unity Small Finance Bank?

The FD interest rate in Unity Small Finance Bank varies from 4.50% to 9% based on the tenure of the fixed deposit. Investors can choose from a range of options that offer competitive interest rates for their savings. 

What is the FD interest rate for senior citizens in Unity Small Finance Bank?

Senior citizens can enjoy higher interest rates on their fixed deposits with Unity Small Finance Bank. The FD interest rate for senior citizens varies from 4.50% to 9.50% based on the tenure of the fixed deposit.

What is the highest FD interest rate in Unity Small Finance Bank?

The highest FD interest rate in Unity Small Finance Bank is 9% for an FD tenure of 1001 days. 

What is the minimum and maximum amount of FD in Unity Small Finance Bank?

The minimum FD deposit can be made with an amount as low as Rs. 1,000 in Unity Small Finance Bank. The maximum amount retail individuals can deposit can even go up to Rs. 100 crores or more.

What is the minimum and maximum tenure for FD in Unity Small Finance Bank?

Unity Small Finance Bank offers fixed deposit schemes with flexible tenure options. The minimum tenure is 7 days, while the maximum tenure for FDs is 10 years.

What is the penalty for premature withdrawal of FD in Unity Small Finance Bank?

In case of premature withdrawal or closure of an FD with Unity Small Finance Bank, a penalty of 1% or the contracted rate, whichever is lower, is applicable.

About the Author

I am an advocate by profession and have a keen interest in writing. I write articles in various categories, from legal, business, personal finance, and investments to government schemes. I put words in a simplified manner and write easy-to-understand articles. Read more

summary-logo

Quick Summary

Unity Small Finance Bank offers competitive fixed deposit schemes with flexible tenure options and attractive interest rates for investors. It provides special rates for senior citizens and different types of FD schemes. Premature withdrawal incurs a 1% penalty, and TDS is applicable on interest income over Rs.40,000. Comparing rates with other banks can help in making an informed investment decision.

Was this summary helpful?
liked-feedbackliked-feedback

Clear offers taxation & financial solutions to individuals, businesses, organizations & chartered accountants in India. Clear serves 1.5+ Million happy customers, 20000+ CAs & tax experts & 10000+ businesses across India.

Efiling Income Tax Returns(ITR) is made easy with Clear platform. Just upload your form 16, claim your deductions and get your acknowledgment number online. You can efile income tax return on your income from salary, house property, capital gains, business & profession and income from other sources. Further you can also file TDS returns, generate Form-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income Tax Filing.

CAs, experts and businesses can get GST ready with Clear GST software & certification course. Our GST Software helps CAs, tax experts & business to manage returns & invoices in an easy manner. Our Goods & Services Tax course includes tutorial videos, guides and expert assistance to help you in mastering Goods and Services Tax. Clear can also help you in getting your business registered for Goods & Services Tax Law.

Save taxes with Clear by investing in tax saving mutual funds (ELSS) online. Our experts suggest the best funds and you can get high returns by investing directly or through SIP. Download Black by ClearTax App to file returns from your mobile phone.

Cleartax is a product by Defmacro Software Pvt. Ltd.

Company PolicyTerms of use

ISO

ISO 27001

Data Center

SSL

SSL Certified Site

128-bit encryption