To cash on the ongoing festivities, the banks have been revising their Fixed Deposit rates. Now in a bid to lure more customers, Unity Small Finance Bank Limited (Unity Bank) has come out with the Shagun 501 offer. Under the festive offer, the bank has launched a special Fixed Deposit interest rate. The bank now offers an interest rate of 7.9 per cent on fixed deposits to retail customers whereas senior citizens can earn 8.4% per annum. 


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However, if investors want to avail of this interest rate, they will have to book their fixed deposits by October 31st as the offer won't be available from November 1.


The bank informed its customers through its Twitter handle. "Iss Dussehra Aur Diwali, karo Acche Shagun ki Shurvaat, Unity Bank ke 501 Din FD ke saath. Celebrate this Festive month with Unity Bank’s Limited Period Offer on Fixed Deposits for 501 days and earn up to 7.9% p.a. Senior Citizens earn up to 8.4% p.a," said the Bank.



What is the Shagun 501 Fixed Deposit Offer?
Under the Shagun 501 scheme, the Unity Small Finance Bank is offering an interest rate of 7.9 per cent on a fixed deposit of 501 days for general customers and 8.4 per cent for senior citizens.


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The bank also revised its interest rates on bulk deposits as it now offers an interest rate of up to 7 per cent on callable bulk deposits and up to 7.25 per cent on non-callable bulk deposits. 


Unity Bank also offers flexible banking hours. "We understand that many of you find it difficult to visit us during banking hours. We’re now giving you the flexibility of Banking at your convenience. Select branches will now operate up to 8 pm," said the bank in another tweet.