Festive Treat!  banks offering more than 8% interest on Fixed Deposit

BusinessFestive Treat!  banks offering more than 8% interest on Fixed Deposit


In a unique offering and to brighten up festivities for its customers; Unity Small Finance Bank has announced a special fixed deposit theme by the name of Shagun, where a retail customer will need to make a fixed deposit for a duration of 501 days and in return, they can expect a benefit of 7.90% per annum, and 0.5% more in case of senior citizens. The Shagun 501 offer is valid only till the end of Oct 2022.

Early this year, there were lot of fluctuations in the repo rate which got increased four times by the Reserve Bank of India. This move led to better return rates for fixed deposits by banks.

The spike in repo rate affects the loan rates but works in favor of the investors as the interest rates on deposits have increased.

Unity Small Finance Bank has also reworked and increased the interest rates on both Callable and Non-Callable Deposits that are more than worth Rs 2 crore. The interest rate for Callable bulk deposits offer up to 7% interest p.a. whereas non-callable bulk deposits goes up to 7.25% interest per annum.

Unity Small Finance Bank Limited (Unity Bank) is an ultra modern, digital-first bank that works on offers best suited to this generation and times. Keeping in mind the Indian festivals and celebrations it has launched Shagun 501, a scheme to offer the best Fixed Deposit interest rate possible and unmatchable with any other same-scale bank.

In case you are looking to invest your savings in a good scheme, then you must check this out for best returns.

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