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Unity Small Finance Bank FD Interest Rate

Unity Small Finance Bank is one of India's fastest-growing small finance banks. It was established with the mission and vision of promoting financial inclusion to the rural unbanked, and underserved r...Read More

Unity Small Finance Bank Fixed Deposit Interest Rates

Note: All interest rates are updated as of 30 Jan 2024
TenureFor General Citizen (p.a)For Senior Citizen (p.a)
7 - 14 days4.5 %4.5 %
15 - 45 days4.75 %4.75 %
46 - 60 days5.25 %5.75 %
61 - 90 days5.5 %6 %
91 - 164 days5.75 %6.25 %
165 days - 6 months5.75 %6.25 %
6 months 1 day - 201 days8.75 %9.25 %
202 - 364 days6.75 %7.25 %
1 year7.35 %7.85 %
1 year 1 day7.35 %7.85 %
1 year 2 day - 500 days7.35 %7.85 %
501 days8.75 %9.25 %
502 days - 18 months7.35 %7.85 %
18 months 1 day - 700 days7.4 %7.9 %
701 days8.95 %9.45 %
702 days - 1000 days7.4 %7.9 %
1001 days
9 %9.5 %
1002 days - 3 year7.65 %8.15 %
3 year 1 day - 5 year7.65 %8.15 %
5 year 1 day - 10 year7 %7.5 %

Types of Unity Small Finance Bank fixed deposits.

Regular Fixed Deposit

  • Minimum investment: ₹1,000
  • Maximum investment: No upper limit.
  • Scheme tenure: 7 days to 10 years.
  • Senior citizens earn an additional 0.5% p.a.
  • You can choose the interest payouts monthly, quarterly or on maturity.
  • You can avail of overdraft facilities against FD.
  • Premature withdrawal is allowed with an applicable penalty.
  • A nomination facility is also available.

Pros of investing in Unity Small Finance Bank Fixed Deposit

  • Period: The FD with Unity Small Finance Bank ranges from 7 days to 10 years.
  • DICGC insurance: The amount invested with the bank is covered by Deposit Insurance and Credit Guarantee Corporation (DICGC) for the total sum of ₹5 lakhs. 
  • Minimum amount: Fixed deposits with Unity Small Finance Bank can be opened with a minimum investment of ₹1,000 
  • Preference to senior citizens: Additional 0.5% p.a. for senior citizens.
  • Nomination facility: Depositors can nominate beneficiaries for their Unity Small Finance Bank FDs investments. 

Cons of investing in Unity Small Finance Bank Fixed Deposit

  • Not dynamic: Interest rates on FD are not dynamic. So, it fails to overcome the risk of inflation. 
  • Fixed rate: Fixed deposits offer a fixed rate on the investment. Hence, you cannot benefit from higher returns in cases of increased market interest rates.

Unity Small Finance Bank FD Eligibility Criteria

Listed below is the list of those that are eligible to open a fixed deposit account with Unity Small Finance Bank:

  • Indian residents
  • Sole proprietorship firms
  • Hindu Undivided Families (HUFs)
  • Trusts
  • Limited companies

Documents Required for Unity Small Finance Bank FD Account

The following are the documents required for opening a fixed deposit with Unity Small Finance Bank:

  • Identity proof: Passport, Voter ID card, driving licence, Aadhaar card (any one of them) along with two passport-sized photographs
  • Proof of residence: Passport, Aadhaar card, Voter ID card, etc.
  • Date of birth proof: Birth certificate, Voter ID card, PAN card, Aadhaar card, etc.

How to Open an FD with Unity Small Finance Bank?

Listed below are the steps to open a fixed deposit account with Unity Small Finance Bank: 

Step 1: Visit your nearest Unity Small Finance Bank branch.

Step 2: Ask the bank executive for an FD account opening form and fill up all the necessary details like name, address of residence, contact number, PAN, nominee name, etc.

Step 3: Choose the tenure of the deposit.

Step 4: Attach a cheque worth the deposit amount or cash. However, you can also transfer the amount through internet banking.

Step 5: Submit the duly filled FD account opening form and all the necessary documents.

Step 6: The executive will provide you with an acknowledgement slip after verification. You have now successfully opened an FD account with Unity Small Finance Bank.

Unity Small Finance Bank Fixed Deposit Premature Withdrawal

Here are the essential points regarding the premature withdrawal of FDs from Unity Small Finance Bank:

  • Premature withdrawal is permitted for regular fixed, recurring, and callable bulk deposits.
  • For regular and callable bulk deposits, a penalty rate of 1% is charged on the applicable interest rate or the contracted rate, whichever happens, to be lower.
  • For non-callable bulk deposits, premature withdrawal is not permitted.

Tax implications on Unity Small Finance Bank FD

Tax Deducted at Source (TDS)

  • TDS will be deducted from the interest accrued on the FDs if the interest is more than ₹40,000 (₹50,000 for senior citizens) in a given financial year. 
  • For Resident customers, if you have submitted your PAN card details, the deduction will be 10% per year on the interest. The bank will deduct 20% of TDS annually without a PAN card.


Are there better investment options compared to fixed deposits?

FDs provide a guaranteed return on investment and are relatively low-risk compared to other investment instruments.

To whom does Unity Small Finance Bank offer additional interest rates?

Additional interest rates of around 0.5% p.a. are offered on senior citizens' fixed deposits.

What penalty charges are applicable for a fixed deposit account on premature withdrawals?

The penalty charges applicable for a premature withdrawal of an FD is 1% of the rate of interest for the period you hold the FD with the bank or the contracted rate, whichever is lower among the two.

Is the ₹5 lakhs DICGC insurance cover applicable on Unity Small Finance Bank FD?

Yes. ₹5 lakhs DICGC (Deposit Insurance and Credit Guarantee Corporation) insurance cover applies to Unity Small Finance Bank FD.

When is the right time to invest in an FD?

The right time to invest in a fixed deposit depends on the investor's financial goals, risk appetite, and prevailing interest rates. Generally, it is advisable to invest in fixed deposits when the interest rates are high and are expected to remain stable for the investment period.

How to break FD in Unity Small Finance Bank?

Here are the steps to break your fixed deposit:

Step 1: Visit the nearest Unity Small Finance Bank branch.
Step 2: Tell the bank executive you want to withdraw your FD. 
Step 3: The bank executive will then ask you to fill up a form.
Step 4: Fill up the details like FD account number, saving account number, etc. and submit the relevant documents.
Step 5: The bank will transfer your FD amount to your savings account after deducting the applicable penalty.

Unity Small Finance Bank

Calculate Unity Small Finance Bank FD Returns

1001 days
7 - 14 days15 - 45 days46 - 60 days61 - 90 days91 - 164 days165 days - 6 months6 months 1 day - 201 days202 - 364 days1 year1 year 1 day1 year 2 day - 500 days501 days502 days - 18 months18 months 1 day - 700 days701 days702 days - 1000 days1001 days1002 days - 3 year3 year 1 day - 5 year5 year 1 day - 10 year
9 %
Maturity Amount₹1,24,682

Disclaimer: Wint Wealth makes no guarantee or warranty on the accuracy of the data provided on this site, the information displayed is subject to change and are provided on an as-is basis. Nothing contained herein is intended to or shall be deemed to be investment advice, implied or otherwise. You are advised to make your own enquiries, consult a professional advisor and verify the information prior to taking any investment decisions. We accept no liability for any loss arising from the use of information contained on this website.

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