Fact Check: Does Unity Bank Offer 7.5% on savings account and 9.00% on FD?

Unity Bank
Unity Bank

In recent news, claims have circulated regarding Unity Small Finance Bank’s interest rates on savings accounts and fixed deposits (FDs). Reports suggest that the bank is offering 7.5% interest on savings accounts and 9.00% on FDs. Let’s fact-check these claims based on the official data provided by Unity Bank.

Also Read: How Federal Bank Customers Can Use UPI Lite?

Does Unity Bank Offer 7.5% on Savings Account?

Unity Bank offers varying interest rates on savings accounts based on the balance maintained. As of the latest data, here are the verified rates:

  • For balances up to Rs. 1 lakh: 6.00% per annum
  • Balances between Rs. 1 lakh and Rs. 5 crores: 7.00% per annum
  • Balances exceeding Rs. 5 crores: 7.75% per annum

Contrary to the claimed 7.5% rate, Unity Bank’s highest savings account interest rate is 7.75% but applies only to balances greater than Rs. 5 crores. The rates for smaller balances are 6.00% and 7.00%, respectively.

Does Unity Bank Offer 9.0% on Fixed Deposits (FD)?

Unity Bank’s FD interest rates vary based on the tenure of the deposit. Here’s the verified data:

  • The highest FD rate offered by Unity Bank is 9.00% per annum for general investors and 9.50% per annum for senior citizens.
  • These rates are applicable for a specific tenure of 1001 days.

The claim of 9.00% on FDs aligns with the verified data provided by Unity Bank. However, it’s important to note that this rate is applicable for a particular tenure of 1001 days. The FD rates range from 4.50% to 9.50% for different tenures, with the highest rate applicable to the specified tenure.

TenureGeneral FD Rates (%)Senior Citizen FD Rates (%)
7 – 14 Days4.504.50
15 – 45 Days4.754.75
46 – 60 Days5.255.75
61 – 90 Days5.506.00
91 – 164 Days5.756.25
165 Days – 6 Months5.756.25
> 6 Months – 201 Days8.759.25
202 – 364 Days6.757.25
1 Year7.357.85
1 Year 1 day7.357.85
> 1Year 1 day – 500 days7.357.85
501 Days8.759.25
502 Days – 18 Months7.357.85
> 18 Months – 700 Days7.407.90
701 Days8.959.45
702 Days – 1000 Days7.407.90
1001 Days9.009.50
1002 Days – 3 Year7.658.15
> 3 Year – 5 Year7.658.15
> 5 Year – 10 Year7.007.50


Unity Bank does not offer a flat rate of 7.5% on savings accounts; instead, it provides different rates based on the maintained balance. The highest savings account rate of 7.75% is reserved for balances exceeding Rs. 5 crores.

Regarding FDs, the claim of 9.00% is accurate but applies to a specific tenure of 1001 days. Unity Bank offers various FD rates ranging from 4.50% to 9.50% for different durations.

In conclusion, the factual rates offered by Unity Bank for savings accounts and FDs deviate slightly from the claims. Individuals considering banking options should carefully review the official rates provided by the bank before making any financial decisions.

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