FD Rates Hike: Unity Small Finance Bank is giving 9.50 percent interest...

Even today, the preferred investment option for a large number of Indians is Fixed Deposit (FD). After the increase in the repo rate by the Reserve Bank of India (RBI), banks have increased the interest rates on fixed deposits substantially. Now the name of Unity Small Finance Bank has also been added to the list of banks that have increased FD interest rates. The bank has increased the interest rates of all term fixed deposits (Unity Small Finance Bank FD Rates) to less than two crore rupees.

After this increase, the bank is now paying not 7, not 8 but the full 9.50 percent interest. This means customers have a great chance to earn money. Unity Small Finance Bank offers 9 percent interest for general citizens on 1001 days tenure and 9.50 percent interest for senior citizens and 9.25 percent interest for 501 days tenure for senior citizens.

How much interest will be available on FD for which period?
Unity Bank will now pay 4.50% interest on FDs of 7-14 days. At the same time, 4.75% interest is being offered by Unity Bank on FDs of 15 days to 45 days. Unity Bank is paying 5.25 percent interest on fixed deposits with a maturity of 46 days to 60 days. The bank has announced to pay 5.50 percent interest on FDs of 61 days to 90 days.

Unity Small Finance Bank will pay 8.75 percent interest on Fixed Deposit (FD) of 181 days to 201 days. The bank has increased the rate of interest on FDs with maturity ranging from 1002 days to 5 years to 7.65 percent. Unity Bank is paying 9.25 percent interest to senior citizens and 8.75 percent to general customers on FDs of 181-201 days and 501 days. This small finance bank has announced an interest rate of 7.50 percent for senior citizens and 7 percent for general customers on FDs ranging from 5 years to 10 years.

FD in bank profitable deal
FD in banks is a risk-free investment. Small finance banks pay more interest on fixed deposits than big banks. Due to the absence of risk of money sinking and getting good returns, many people put money in fixed deposits.