FD interest rate for senior citizens: senior citizens can earn up to 9% interest rate on FD from this bank

Unity Small Finance Bank launched a new special fixed deposit dubbed “Shagun” and also raised the fixed deposit interest rate on various warrants. This is the bank’s second interest rate hike in November, giving consumers a better rate of return. The interest rate on deposits is revised from November 18, 2022, says a press release from Unity Small Finance Bank.

Unity Small Finance Bank FD Rates
For ordinary citizens, the bank offers interest rates between 4.5% and 8.50%. It currently offers senior citizens an interest rate of 9% per annum on fixed deposits invested for terms of 181 and 501 days, respectively, while retail investors get 8.50% for the same terms, the press release said. hurry.

Mandate General rates of FD% per year FD rate for the elderly % per year
7-14 days 4.50% 4.50%
15-45 days 4.75% 4.75%
46-60 days 5.25% 5.75%
61-90 days 5.50% 6.00%
91-180 days 5.75% 6.25%
181 days 8.50% 9.00%
182 days – 364 days 6.75% 7.25%
365 days (1 year) 7.35% 7.85%
1 year 1 day 7.80% 8.30%
>1Year 1 day – 500 days 7.35% 7.85%
501 days 8.50% 9.00%
502 Days – 18M 7.35% 7.85%
>18M -2 Years 7.40% 7.90%
>2 years -3 years 7.65% 8.15%
>3 years – 5 years 7.65% 8.15%
>5 years – 10 years 7.00% 7.50%

Source: Unity Small Finance Bank press releasePremature withdrawal
In the event of premature withdrawal of a fixed deposit, the interest rate payable would be the relevant FD rate less 1.00% for the term for which the deposit actually accrued.

Savings account
Unity Bank pays 7% per annum on deposits above Rs 1 lakh and 6% per annum on deposits below Rs 1 lakh for savings accounts.

Other banks
For 999-day FD terms, Suryoday Small Finance Bank now offers an interest rate of 8.01%, while seniors are offered an interest rate of 8.26% for the same term.
Customers of Jana Small Finance Bank can now earn up to 8.35% on deposits for a period of 1-2 years ranging from Rs 15 lakh to Rs 2 crore. For a period of two to three years, senior citizens can receive 8.50% on a Fixed Rate (FD) deposit for amounts above Rs 15 lakh.

Stephen V. Lee