Unity Small Finance Bank is a financial institution that offers a variety of banking products and services, including Fixed Deposits. It is a scheduled bank, meaning deposits are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC).
Unity Small Finance Bank FDs provide competitive interest rates and a range of tenure options to suit your investment goals. They offer FD interest rates that vary depending on the deposit amount and chosen tenure. The bank typically offers higher interest rates for longer tenures and senior citizens.
Unity Small Finance Bank offers competitive FD rates, with interest rates going up to 9.50% for senior citizens and 9.00% for the general public.
Unity Small Finance Bank FD Rates
The interest rates for your FD in Unity Small Finance Bank may vary depending on the tenure that you choose. The table below shows the FD rates for different tenures.
| Tenure | FD Rates for General Public | FD Rates for Senior Citizens |
|---|---|---|
| 7 to 14 days | 4.50% | 4.50% |
| 15 – 45 Days | 4.75% | 4.75% |
| 46 – 60 Days | 5.75% | 6.25% |
| 61 – 90 Days | 6.00% | 6.50% |
| 91 – 164 Days | 6.25% 6.75% | 6.75% |
| 165 Days – 6 Months | 6.25% | 6.75% |
| > 6 Months – 201 Days | 8.50% | 9.00% |
| 202 – 364 Days | 7.25% | 7.75% |
| 1 Year | 7.85% | 8.35% |
| 1 Year 1 day | 7.85% | 8.35% |
| > 1Year 1 day – 500 days | 7.85% | 8.35% |
| 501 Days | 8.75% | 9.25% |
| 502 Days – 18 Months | 7.85% | 8.35% |
| > 18 Months – 700 Days | 7.90% | 8.40% |
| 701 Days | 8.75% | 9.25% |
| 702 Days – 1000 Days | 7.90% | 8.40% |
| 1001 Days | 9.00% | 9.50% |
| 1002 Days – 3 Year | 8.15% | 8.65% |
| > 3 Year – 5 Year | 8.15% | 8.65% |
| > 5 Year – 10 Year | 7.50% | 8.00% |
Note: The Unity Small Finance Bank FD interest rates are subject to change. For latest information, please refer to the bank website.
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FD Calculator
An FD calculator is a tool that helps you estimate the maturity amount you’ll receive on a Fixed Deposit (FD) investment. FDs are offered by banks and NBFCs (Non-Banking Financial Companies) and provide a fixed interest rate for a predetermined tenure.
Fixed Deposit (FD) Calculator
Years
Months
Days
The benefits of the Online FD calculator include:
- Calculate Maturity Amount: It simplifies the complex calculations involved in determining the interest earned and the total amount you’ll receive at maturity, considering factors like deposit amount, interest rate, and tenure.
- Compare FDs: You can use it to compare interest rates and maturity amounts offered by different bank FDs & NBFCs FD schemes.
You’ll need to enter details like:
- Deposit amount
- Interest rate (offered by the bank/NBFC)
- Tenure (investment period)
- Interest payout frequency (monthly, quarterly, etc.)
Check more on FD Interest calculation for different amounts from the links provided below:
Unity Small Finance Bank FD Features
The table provided below gives a comprehensive overview of the features that Unity Small Finance Bank Fixed Deposit offers.
| Feature | Description |
|---|---|
| Minimum Deposit | ₹1,000 |
| Maximum Deposit | No upper limit (For deposits exceeding ₹2 crore, contact branch manager for rates) |
| Tenure | 7 days to 10 years |
| Interest Rate | 4.50% – 9.50% p.a. (varies based on tenure and customer segment) |
| Interest Payout | Monthly, quarterly, or on maturity |
| Senior Citizen Benefit | Additional 0.50% p.a. interest for tenures between 46 days and 10 years |
| Premature Withdrawal | Allowed with penalty charges |
| Nomination Facility | Available |
| NRI Accounts | NRO and NRE FD accounts offered |
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Check all Bank FD rates from the table below:
Premature Withdrawal of Unity Small Finance Bank FD
Unity Small Finance Bank allows premature withdrawal of your Fixed Deposit (FD) however there is a penalty involved. A penalty of 1% will be charged on the interest rate applicable to your FD or the contracted rate for the period the deposit has been with the bank.
Example
Let’s say you invest Rs. 10,000 for a 2-year FD with an interest rate of 6%.
- If you withdraw the FD prematurely after 1 year, you’ll get the principal amount (Rs. 10,000) but the interest earned will be calculated differently.
- Normally, after 1 year, you would earn interest for the entire year at the 6% rate. However, due to premature withdrawal, the bank will apply the penalty.
- They’ll calculate the interest for 1 year at the contracted rate (6%) minus the penalty (1%) which is 5%.
- So, you’ll receive the principal amount (Rs. 10,000) + interest for 1 year at 5% (around Rs. 500) – the penalty (Rs. 100 on the interest amount, calculated at 1% of Rs. 500).
Types of Unity Small Finance FD
Unity Small Finance Bank primarily offers a single type of Fixed Deposit (FD) with variations based on tenure, interest payout, and customer segment. However, these variations can be functionally categorized into three main types.
Regular Fixed Deposit
- Regular Fixed Deposit is the standard FD option with the features you outlined in the table.
- You choose a deposit amount, tenure, and interest payout frequency.
- Interest rates vary based on these factors and your customer segment (regular customers, senior citizens).
Senior Citizen Fixed Deposit
- Senior Citizen Fixed Deposit is a variation of the regular FD specifically for senior citizens (typically above 60 years old).
- These FDs offer an additional interest rate benefit (usually 0.50% p.a.) on top of the regular rates for tenures ranging from 46 days to 10 years.
Tax Saver Fixed Deposit
- Tax Saver FDs are a type of FD that allows you to claim tax deductions under specific sections of the Income Tax Act (e.g., Section 80C).
- They typically come with lock-in periods of several years.
Check the best Fixed Deposit interest rates for different FD tenures from below:
Eligibility to Open FD in Unity Small Finance Bank
Unity Small Finance Bank does offer FDs to a wider range of applicants than some traditional banks. Here’s the list of eligibility criteria for opening a Fixed Deposit account in Unity Small Finance Bank.
- The applicant applying for FD must be 18 years or older.
- The FD applicant must be a resident of India.
- Non-Individual Applicants: Sole Proprietorship Firms, Hindu Undivided Families (HUFs), Trust Accounts, and Limited Companies.
Documents Required to Open FD in Unity Bank
To open a Fixed Deposit (FD) account with Unity Small Finance Bank, you’ll need to provide documents for identity proof, address proof, and possibly nomination (optional).
- Identity Proof: Passport, Aadhaar Card, Driving License, Voter ID Card, or PAN Card.
- Address Proof: Passport (if the address is mentioned), Utility Bill (electricity, water, phone), Bank Statement, Aadhaar Card (if the address is mentioned), or Rent Agreement (if applicable).
- Nomination (Optional): Your nominee receives the FD amount in case of your unfortunate demise. You can likely fill out a nomination form at the bank.
Notes: For non-individual applicants (firms, companies, etc.), additional documents may be required.
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Steps to Open USFB FD Through Branch Visit
Here are the steps to open a Fixed Deposit account in Unity Small Finance Bank.
- Step 1: You can find your nearest Unity Small Finance Bank branch using the bank’s branch locator tool on their website.
- Step 2: You’ll need to bring identity proof (e.g., Aadhaar card, Passport, Voter ID), address proof (same documents as identity proof work usually), a PAN card, and two passport-sized photographs.
- Step 3: At the branch, ask for an FD account opening form and fill in all the details carefully, including your name, address, contact information, nominee details (person who receives the FD amount if you pass away), tenure of the FD, and deposit amount.
- Step 4: Decide if you’ll deposit cash, or cheques, or transfer the money electronically through internet banking (if you have a USFB account).
- Step 5: Once you’ve completed the form and chosen the deposit method, submit the application form along with all the required documents to the bank representative.
- Step 6: The bank will verify your details and process your FD application. You’ll receive an acknowledgement slip confirming your FD account opening.
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You can also check out other NBFC Fixed Deposit options below:
You can also check out other NBFC Fixed Deposit options below: