1. How can I invest in Unity Small Finance Bank Fixed Deposits on FYERS? ▼
- Log in to the FYERS App or Web.
You can search for Fixed Deposits from the Home page or:
- Scroll down to the Investment Products section on the Home page.
- Tap/Click More or ☰ Menu and select Fixed Deposits from the Invest section.
- Select the Unity Small Finance Bank FD plan.
- Choose the FD plan from the Overview or Explore section.
- Review the FD details including interest rate, tenure and other FD details
- Click Invest.
- Enter the FD investment amount.
- Choose the interest payout frequency including Monthly, Quarterly, Half-Yearly, Yearly, or On Maturity options based on the selected FD plan.
- Select the maturity instructions including Renew Principal, Renew Principal + Interest, or Do not renew based on your preference.
- Click Review to check the total investment amount, estimated returns and other details.
- Verify the KYC details displayed on the screen including PAN details, Aadhaar details, and nominee details before completing the payment process.
- Complete the payment and VKYC process by clicking on Start video KYC
- Or if you choose to it do later go to the Orders section and open the Unity Small Finance Bank FD order.
- Click/Tap Complete V-KYC.
- Unity Small Finance Bank V-KYC is available from 10:00 AM to 5:00 PM on standard business days including Monday to Friday and working Saturdays.
- During the V-KYC process, provide your Name, Address, Date of Birth (DOB), PIN code, Profession, and Annual income.
- Read and follow the instructions displayed on the issuer’s V-KYC page.
Keep the following ready for verification:
- Physical PAN card (Front and Back)
- Signature
- Complete the live video verification process.
2. How can I withdraw Unity Small Finance Bank Fixed Deposits on FYERS? ▼
- Log in to the FYERS Web.
- Go to Portfolio → Holdings.
- Open the Fixed Deposits section.
- Select the Unity Small Finance Bank FD you want to withdraw.
Check the FD details:
- From the Overview tab, you can check the invested amount, tenure, and all the investment details.
- From the Payout Timeline tab, you can check the invested amount (Principal), maturity payout amount, and payout dates for the Fixed Deposit.
- Click Withdraw.
On the withdrawal screen, check the FD details displayed:
- Investment details
- Nominee details
- Withdrawal details
- Click on Request Withdrawal.
- In the Break Fixed Deposit confirmation message, review the premature withdrawal confirmation message and check the interest earnings amount you may miss out on by withdrawing the FD before maturity.
- Click Yes, Continue to proceed with the withdrawal request.
- Click No, Cancel to stop the withdrawal process.
- Click Report here if you face any issue during the withdrawal process.
- On the bank account selection screen, review the selected withdrawal bank name and bank account number displayed for receiving the withdrawal payout, then click Continue.
On the Withdrawal Details screen, review:
- Withdrawal amount
- Investment tenure
- Withdrawal bank
- Bank account number
- Payout breakdown
- Read the message displayed below the payout details stating that the displayed amount is an estimate only and the actual credited amount may differ based on the bank’s prevailing break FD policy.
- Select the bank account where the withdrawal amount should be credited.
- Click Withdraw FD to submit the withdrawal request.
After successful submission, the FD Withdrawal Successful message appears displaying:
- Withdrawal date and time
- Refund processing timeline
- FD issuer name
- Invested amount
- Withdrawal amount
- Overall gains
- Withdrawal bank
- Bank account number
3. Are deposits of Unity Small Finance Bank insured by RBI? ▼
Yes, Unity Small Finance Bank (USFB) deposits are insured by DICGC (Deposit Insurance and Credit Guarantee Corporation) up to ₹5 lakh per depositor.
4. Do I need to have an account with Unity Small Finance Bank to book an FD? ▼
No, you do not need to have an account with Unity SFB to book an FD.
5. What is the minimum and maximum deposit amount? ▼
The minimum deposit amount is ₹1,000 and the maximum deposit amount is ₹2 Crore.
6. What is the minimum and maximum tenure? ▼
The minimum tenure is 7 days and the maximum tenure is 10 years.
7. Are there special benefits for women investors? ▼
No, there are no special interest rate benefits for women investors at Unity SFB.
8. How many nominees are allowed? ▼
Up to three nominees can be appointed per account. However, the online journey is currently restricted to 1 nominee per FD.
9. Are monthly interest payments available? ▼
Yes, Unity SFB offers monthly, quarterly, or on maturity interest payout options.
10. Is auto-renewal allowed? ▼
Yes, auto-renewal is allowed.
11. What are the available payment modes? ▼
The available payment modes are UPI and Net Banking.
12. How will I receive my Fixed Deposit Receipt (FDR)? ▼
An E-FDR will be sent to your registered email address after completing the transaction. If you do not receive it or lose access to it, reach out to Unity Small Finance Bank customer service or visit your nearest branch to report the issue.
13. Can I make payment from any bank account? ▼
No, Payment must be made from the same bank account added as the withdrawal bank account during the FD booking journey.
14. Is premature withdrawal allowed? ▼
Yes, Unity SFB allows premature withdrawals for fixed deposits. A penalty of 1% of the lower of the applicable rate or contracted rate applies.
15. What is the penalty for premature withdrawal? ▼
A penalty of 1% or the contracted rate, whichever is lower, is applicable on premature closure.
16. What should I do if I lose my FD receipt? ▼
Reach out to Unity SFB's customer service or visit the nearest branch as soon as possible to report the loss.
17. How long must I wait before making a premature withdrawal? ▼
There is no lock in period. Premature withdrawal can be initiated at any time.
18. How can I get the FD statement for tax filing? ▼
Unity SFB helps you get your TDS/P&L statement from the platform. For assistance, please mail
[email protected].
19. Can a loan be taken against the FD? ▼
No, Loans against FDs are not available for Unity SFB.
20. Does Unity Small Finance Bank offer extra benefits for Senior Citizens? ▼
Yes, Senior citizens receive an additional interest rate benefit of 0.50% p.a.
21. What is the compounding frequency? ▼
Interest is compounded on a quarterly basis.
22. Can I withdraw interest without breaking the FD? ▼
No, Interest cannot be withdrawn without breaking the FD.
23. When and Where will I receive my money in case of a withdrawal? ▼
Your money will come within 2 working days after placing withdrawal instructions successfully to the account details added during the FD booking process
24. Is Video KYC required to book an FD ▼
Yes, you need a Video KYC for booking a Unity small finance Bank.
25. Do I need to visit branch or submit the Fixed Deposit receipt to receive the proceeds on maturity? ▼
No need to visit the branch or discharge the FDR receipt; FD proceeds will be directly credited to depositors account registered at the time of maturity in case of auto repayment option.
26. When is TDS deducted in case of Unity Small Finance Bank Fixed Deposit? ▼
Unity Small Finance Bank deducts TDS (Tax Deducted at Source) on fixed deposits (FDs) if the interest earned in a financial year exceeds ₹40,000. For senior citizens, the limit is ₹50,000.
27. Does Unity Small Finance Bank Fixed Deposit investment provide tax exemption? ▼
No, Unity Small Finance Bank does not offer a Tax Saving FD that provides tax benefits under Section 80C of the Income Tax Act, 1961.
28. What is the difference between a Non-cumulative Fixed deposit and a Cumulative deposit? ▼
For Non-Cumulative Fixed Deposits, the interest is payable on Monthly, Quarterly, basis. For Cumulative Deposits, the interest is payable at the time of maturity together with the principal amount.