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Friday, February 23, 2024
HomePersonal FinanceBank Interest Rate Hike: Good News! This bank increased the interest rate...

Bank Interest Rate Hike: Good News! This bank increased the interest rate on the amount deposited in savings account, check new interest rate

The results of the Monetary Policy Committee (MPC) meeting of the Reserve Bank are about to come. Before this, Unity Small Finance Bank Limited (Unity) Bank is going to have great news for its customers.

Savings Scheme Interest Rate: The results of the Monetary Policy Committee (MPC) meeting of the Reserve Bank are about to come. Before this, Unity Small Finance Bank Limited (Unity) Bank is going to have great news for its customers. This bank has increased the interest rate on the amount deposited in the savings account. 6% annual interest is available on deposits up to Rs 1 lakh in savings account. At the same time, 7% interest is being given on deposits ranging from Rs 1 lakh to Rs 5 crore. Apart from this, interest of 7.75% is available on deposits of more than Rs 5 crore. Let us tell you that interest on savings account is paid on monthly basis.

What is the interest rate on fixed deposits?

Unity Bank is offering an interest rate of 9.50% per annum on fixed deposits. This interest rate is for senior citizens. Whereas for general customers the interest rate on deposits is 9% per annum. Unity is a commercial bank jointly owned by Centrum Financial Services Limited with Resilient Innovations Private Limited.

Monetary policy committee meeting begins

Let us tell you that the three-day long meeting of the Monetary Policy Committee (MPC) of the Reserve Bank started on Wednesday. It is believed that MPC can keep the policy rate repo unchanged this time too. RBI did not make any change in the repo rate in the last four monetary policy reviews. The repo rate was last increased to 6.5 percent in February.

Shyamu Maurya
Shyamu Maurya
Shyamu has done Degree in Fine Arts and has knowledge about bollywood industry. He started writing in 2018. Since then he has been associated with Informalnewz. In case of any complain or feedback, please contact me @informalnewz@gmail.com
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