Archive · 8 Sep 2026
Unity SFB Offers Senior Citizens 8.50% On 501-Day FDs
Unity Small Finance Bank is offering a high interest rate on a special fixed deposit.
Resident senior citizens can earn 8.50% per year if they keep their money deposited for 501 days.
Regular customers can earn 8% for the same period.
The offer is for deposits below Rs 3 crore.
Senior citizen benefits are not available to non-resident customers.
Bank employees can receive an extra 1% over the listed rate.
Taking the money out early leads to a 1% penalty.
The bank can change its rates without prior notice.
Unity Small Finance Bank offers resident senior citizens 8.50% annual interest on 501-day fixed deposits.
The offer applies to retail deposits below Rs 3 crore and began on July 15, 2026.
Regular depositors receive 8% on fixed deposits with the same 501-day tenure.
Senior citizen rates do not apply to non-resident customers, while Unity SFB employees receive an additional 1%.
Premature closure of fixed or recurring deposits attracts a 1% penalty, with interest based on the holding period.
- Who
- Unity Small Finance Bank and its retail deposit customers, including resident senior citizens.
- What
- The bank is offering 8.50% annual interest to resident senior citizens on 501-day fixed deposits.
- When
- The revised retail fixed deposit rates took effect on July 15, 2026.
- Where
- The offer is from Unity Small Finance Bank; the article identifies Mumbai as the dateline.
- Why
- The bank revised its retail fixed deposit rates; the articles do not provide a further reason.
- Highest senior citizen rate
- 8.50% per annum
- Eligible tenure
- 501 days
- Deposit limit
- Retail deposits below Rs 3 crore
- Regular customer rate
- 8% for 501 days
- Premature withdrawal penalty
- 1%, with interest calculated for the period the deposit was held
- Savings account rates
- 4.50% up to Rs 1 lakh, 6% above Rs 1 lakh to Rs 5 lakh, and 7% above Rs 5 lakh
- NRE deposits
- Minimum one-year tenure; no interest is paid if withdrawn before one year, and tax deducted at source does not apply