Earn FD rate of 9.5%! This bank now offers highest interest rate on fixed deposits

financialexpress.com:

Fixed deposit investors continue to enjoy the best period as banks continue to offer them sweet deals on deposits across tenures. In a fresh move, Unity Small Finance Bank has revised its interest rates on fixed deposits of amounts below Rs 2 crore.

The small finance bank is now offering rates ranging from 4.5% and 9% per annum to its general customers and up to 9.5% per annum to senior citizens. The rates are applicable from May 1 on tenures ranging from 7 days to 10 years, according to the Unity Small Finance Bank website.

For both regular FD customers and senior citizens, Unity Small Finance Bank offers a fixed rate of 4% for its smallest FD tenure, which spans from 7 days to 14 days.

Unity Small Finance Bank offers its highest fixed deposit tenures, ranging from 5 years to 10 years, with a 7.5% interest rate for regular customers and an 8% rate for senior citizens.

The small finance bank is offering its highest rate on fixed deposits with a tenure of 1001 days, providing regular investors with 9% interest and senior citizens with 9.5% interest.

Among other tenures, the bank offers an interest rate of 8.95% to senior citizens on a tenure of 701 days.

If FD is withdrawn prematurely, a 1% penalty will be charged to the rate applicable for the deposit’s duration or the negotiated rate (whichever is lower).

Unity Small Finance Bank is a recognised scheduled bank by the RBI. Depositors are eligible for deposit insurance provided by the Depositor Insurance and Credit Guarantee Corporation (DICGC). The deposit insurance cover from DICGC, an RBI subsidiary, insures cumulative deposits up to Rs 5 lakh made by each depositor. DICGC covers fixed deposits, savings, current, and recurring deposits, in each scheduled bank in case