Fixed Deposit Details
Bank Name
Unity Small Finance Bank
Eligibility
Residents Indians. Hindu Undivided Families (HUF). Sole Proprietorship Firms. Trust Accounts. Limited Companies.
Interest Rate
4.5- 7%
Tenure
7 Days to 10 Years
Fixed Deposit Type
Regular Fixed Deposit
Tax Benefits
Credit Ratings
[ICRA]A- (Stable)
Interest Payment Frequency
Monthly, quarterly or on maturity. Typically for fixed deposits having interest payment at maturity, compound interest is applicable and for fixed deposits having monthly interest payment, simple interest is applicable. Typically fixed deposits having a tenure of one year or less, simple interest is applicable. It is best to consult the bank officials before you book a fixed deposit.
Cummulative/Non-Cummulative
Both
Features
Start a Fixed deposit for as low as Rs.1000/- Additional 0.5%* p.a for senior citizens Overdraft facility against FD
Minimum Investment Amount
Rs.1000/-
Features & Benefits
Pros
- Higher Interest Rates
- Flexible Tenure
- Low Minimum Deposit
- Benefits for Seniors
- Interest Payout Options
- Loan Facility
Cons
- Lower Deposit Insurance
- Relatively New Bank
- Early Withdrawal Penalty
Pros & Cons
How to Open?
- Visit your nearest Unity Small Finance Bank branch https://theunitybank.com/ :This is the most traditional way. Speak to a bank representative and request an FD account opening form. Fill out the form with your details including name, address, contact information, PAN, nominee details, etc. Choose the deposit amount and tenure (ranging from 7 days to 10 years). Decide how you want to receive interest payouts (monthly, quarterly, or on maturity). Submit the completed form along with the required documents and your deposit amount (cash or cheque). The bank will verify your documents and provide you with an acknowledgement slip.
- Contact Unity Small Finance Bank customer care:Call their customer care number at 18002091122. You can also try emailing them at care@unitybank.co.in. Customer service can guide you through the process of opening an FD account remotely.
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