Unity Small Finance Bank Limited (Unity Bank) has hiked its interest rates offered on fixed deposits on selected tenore. These rates are applicable on deposits below ₹2 crore, with effect from October 9, 2023.
Unity Bank hikes FD rates for 701 Days
It now offers senior citizens an attractive rate of 9.45% p.a. on Fixed Deposits invested for 701 days, whereas general investors will earn 8.95% p.a. for the same duration.
Unity Bank offers highest interest rates on these tenors
Unity Bank continues to offer an interest rate of 9.50% p.a. to senior citizens and 9.00% p.a. to general investors for a tenure of 1001 days. Additionally, for tenures of 181 – 201 days and 501 days, Unity Bank offers an interest rate of 9.25% p.a. to senior citizens and 8.75% p.a. to general investors.
Unity Small Finance Bank latest FD interest rates
For regular consumers, it offers interest rates between 4.5% to 9%. It currently provides senior citizens with an interest rate of 4.5% to 9.5% p.a. on deposits maturing in seven days to ten years.
Bank of Baroda has hiked interest rates on fixed deposit (FD) rates by up to 50 basis points (bps) across various tenors for up to 3 years. These rates are applicable on deposits below ₹2 crore, with effect from October 9, 2023.
Meanwhile, private lenders Yes Bank, and HDFC Bank have slashed the fixed deposit interest rate on selected tenure for deposits below ₹2 crore. IndusInd Bank, and Punjab & Sindh Bank have also revised FD interest rates on their term deposits in October 2023.
The Reserve Bank of India (RBI) left interest rates unchanged on 6 October for the fourth time in a row. The benchmark repo rate has stood at 6.50 percent since February 2023.
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Updated: 14 Oct 2023, 10:11 AM IST