FD rate of interest: This financial institution is giving as much as 9% return on fastened deposits

FD rate of interest: In FY23, financial institution fastened deposit (FD) rates of interest have risen from round 5.5 per cent to common 7 per cent. Thanks to excessive rate of interest regime that Reserve Bank of India (RBI) Governor Shaktikanta Das needed to undertake to comprise inflation. However, on this excessive rate of interest regime, some banks are giving return on deposits which can be greater than Public Provident Fund (PPF) rate of interest of seven.10 per cent every year. Unity Small Finance Bank is one such financial institution, which is giving FD rate of interest as much as 9 per cent for basic depositors. For senior citizen financial institution FD account holders, there may be a further 50 bps rate of interest given which means a senior citizen fastened deposit account holder at this financial institution is getting as much as 9.50 per cent return yearly.

Bank FD return for public generally

As per the knowledge out there on web site of Unity Small Finance Bank, the non-public lender is providing basic FD fee of 8.75 per cent on fastened deposits for 181-201 days tenure. On basic fastened deposits for 501 days, FD charges provided by this financial institution is 8.75 per cent. However, on fastened deposits for 1001 days tenure, Unity Small Finance Bank is providing 9 per cent fastened deposit rate of interest.

Senior citizen FD charges

Like another banks, Unity Small Finance Bank is providing a further 50 bps rate of interest on financial institution fastened deposits belonging to senior residents. This means, if a senior citizen opens a set deposit account in Unity Small Finance Bank for tenor 181 to 201 days and 501 days, FD fee provided for the senior citizen is 9.25 per cent every year. However, on a senior citizen fastened deposit account for 1001 days tenure, fastened deposit fee provided by this financial institution is 9.50 per cent.

See Unity Small Finance Bank FD charges beneath:

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Photo: Courtesy Unity Small Finance Bank web site

So, Unity Small Finance Bank is providing basic FD fee as much as 9 per cent and in case of a senior citizen, fastened deposit rate of interest is as much as 9.50 per cent every year.

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