Unity Small Finance Bank Launches Five Branches in Hyderabad

 Hyderabad: Unity Small Finance Bank Limited (Unity), a digital-first bank, on Monday launched five branches in Hyderabad with focus on MSMEs. The new branches are in Dilsukhnagar, SR Nagar, Moula Ali, Suchitra Crossroad and Kukatpally, a release said.

“Besides being known for its pharmaceutical and biotechnology capabilities, Hyderabad has a significant MSME and HNI population. Unity aims to tap into this landscape with tailored-financial solutions,” said Inderjit Camotra, bank managing director and chief executive officer.

Unity said it will offer 9.5 per cent interest on fixed deposits to senior citizens and nine per cent to retail investors. For savings accounts, it offered 7.5% interest for balances greater than Rs 5 lakh and 7.25 per cent on balances greater than Rs 1 lakh and up to Rs 5 lakh. It will offer lockers at select branches.

Unity’s business banking group, which offers business loans to MSMEs, has built a presence in Telangana.