Banks offer senior citizens (senior citizens FD scheme) 0.50 per cent more interest than normal people. For these, this scheme will give even more returns than before.
Non-banking financial company Unity Small Finance Bank (Unity Small Finance Bank) has changed the interest rates found on its Fixed Deposit (FD) scheme. According to this new rate applicable from 9 October 2023, Senior Citizen (senior citizens FD scheme) is being offered interest up to 9.50 per cent for an amount less than Rs 2 crore. According to the news, the bank has increased the interest rates paid on fixed deposits (FDs) held for 701 days. For this period, it is now offering an attractive rate of 9.45% per annum to senior citizens. Ordinary people are being offered an interest rate of 8.95% annually over such a period.
On deposits with a maturity period of 7 days to 10 years from the bank, the bank is 4.50% to 9% for general citizens and 4.50% for senior citizens Interest rates between 9.5% (Unity Small Finance Bank fd interest rates) are offered. Similarly, for 1001 days Unity Bank is offering an interest rate of 9.50% per annum to Senior Citizens. While offering 9.00% annually to ordinary citizens. Additionally, for the period 181 – 201 days and 501 days, Unity Bank seniors 9.25% per year and general investors 8.75% Offering interest rate per year.
Penalty on premature withdrawal
According to the official website of Unity Small Finance Bank, a charge is required for premature withdrawal of fixed deposits and recurring deposits. A premature penalty of 1.00% is imposed on the applicable rate or contracted rate, whichever is lower, for the period of stay with the bank Recently many banks have revised interest rates on FD
