Private sector bank hikes interest rates of fixed deposits

Mumbai: Leading new-age bank in the country,  Unity Small Finance Bank has hiked the interest rates of fixed deposit (FD) schemes.  The lender is now offering an interest rate of 9% on FDs invested for tenures of 181 days and 501 days respectively by senior citizens.

For a tenure of 7-14 days and 15-45 days, the bank offers 4.50% and 4.75% interest rates on fixed deposits both for the general and senior citizens’ categories. In the case of 46-70 days, the general FD rate is 5.25%, while that of senior citizens’ is 5.75%.

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Unity Small Finance Bank has also mentioned that for premature withdrawal of fixed deposit, interest rate payable would be corresponding FD rate minus 1.00% for the tenor for which the deposit has actually run.


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