Senior Citizens Fixed Deposit Interest Rates in Unity Small Finance Bank

Updated on: Sep 7th, 2023

Unity Small Finance Bank is committed to serving its customers, always striving to offer value and cater to specific needs. Recognising the financial needs of senior citizens, Unity Small Finance Bank ensures they benefit from advantageous FD schemes. Here's a closer look at how senior citizens enjoy better interest rates with this bank.

Features of Unity Small Finance Bank Senior Citizen FD

Enhanced Interest Rates: Senior citizens generally enjoy a bonus interest rate over and above the regular FD rates. This precise rate depends on the bank's prevailing rates.

Qualification: Only individuals aged 60 and above can open a senior citizen FD account.

Duration: Depositors have the flexibility to select from a wide range of FD durations, typically between 7 days to 10 years.

Early Withdrawal: Though penalties might be levied, senior citizens usually have more lenient terms when it comes to premature FD closures.

Borrowing Options: Like their younger counterparts, senior citizens can also avail loans against their FDs.

Beneficiary Assignment: Unity Small Finance Bank permits beneficiaries to receive FD funds after the demise of the account holder.

Tax Deduction at Source (TDS) Implications: Interest income from FDs is taxable as per Indian laws. However, by furnishing Form 15H, eligible senior citizens can circumvent TDS deductions.

Automatic Renewal: Banks, possibly including Unity Small Finance Bank, might offer an automatic renewal system, ensuring the FD's continuation after maturity unless specified otherwise.

Deposit Limits: The deposit amount permissible for a senior citizen FD can vary. While there is often a set minimum, a maximum limit might not always be imposed.

Unique Offerings: The bank might roll out special offers or features specifically designed for senior citizens from time to time.

Unity Small Finance Bank FD Interest Rate for Senior Citizens



Senior Citizens

7 days to 14 days


15 days to 45 days


46 days to 60 days


61 days to 90 days


91 days to 164 days


165 days to 6 months


Above 6 months to 201 days


202 days to 364 days


1 year


1 year 1 day


Above 1 year 1 day to 500 days


501 days


502 days to 18 months


Above 18 months to 1000 days


1001 days


1002 days to 3 years


Above 3 years to 5 years


Above 5 years to 10 years



  • Unity Small Finance Bank extends its 'Senior Citizen FD' to individuals aged 60 and above.
  • The bank provides an enhanced interest rate for senior citizens, typically higher than the regular FD rates.
  • This special scheme is not applicable to NRIs.

Documents Required to Open a Unity Small Finance Bank Fixed Deposit for Senior Citizens

Identity Proof

  • Aadhaar card
  • Voter ID
  • Ration card
  • Passport
  • PAN card
  • Driving Licence

Address Proof

  • Bank Statement
  • Cancelled Cheque
  • Utility Bills


Is there a special scheme for senior citizens?

Yes, Unity Small Finance Bank offers the 'Senior Citizen Care' FD, which gives additional benefits compared to the regular FD.

Can I break my Senior Citizen FD prematurely?

Yes, but this might attract a penalty. For specifics, it's advisable to consult the bank.

Is TDS applicable on the interest earned from Senior Citizen FD?

TDS becomes applicable if the total interest earned exceeds the limit stipulated by the Income Tax department in a fiscal year.

Earn once in a decade
returns on FD

Lock in returns as high as
8.35% before they go down

Top Banks Senior Citizen FD Rates

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