Chennai, October 21, 2024 – Unity Small Finance Bank Limited (Unity Bank), a new-age, digital-first bank, has established its presence in the Land of Temples – Tamil Nadu with the launch of eight new branches today. Unity Bank’s foray aims to leverage the growing business opportunities in the city, provide customers with attractive interest rates on deposits, offer business loans to MSMEs, and, more importantly, give the citizens of Tamil Nadu an opportunity to bank with a smarter, faster, and more convenient institution.
To mark a strong presence, Unity Bank currently has opened State-of-the-art branches in Besant Nagar, Adyar, Anna Nagar, Teynampet, Ashok Nagar and Nelson Manickam Road in Chennai and Avinashi Road & Gandhipuram in Coimbatore. Going forward, the Bank plans to open additional branches in Trichy, Salem and Madhurai. Unity Bank offers Fixed Deposits to senior citizens an attractive rate of 9.50% p.a.* whereas retail investors earn 9.00% p.a.*. For Savings Accounts, Unity Bank offers an interest of 7.50% p.a. for balances greater than Rs. 5 lakhs and 7.25% p.a. on deposit balances greater than Rs. 1 lakh and up to Rs. 5 Lakhs. Additionally, lockers are also available at competitive rates at select branches. Inderjit Camotra, MD & CEO, Unity Bank said “Expanding our presence in Tamil Nadu is a strategic move for Unity Bank, given the state’s significance as a thriving cultural and economic hub. Tamil Nadu is a center for diverse industries, including textiles, automobiles, and information technology. The state also has a robust MSME sector and a growing population of high-net-worth individuals (HNIs). Unity Bank aims to tap into this vibrant landscape, offering tailored financial solutions to entrepreneurs and residents. We are confident that our digital-first approach will resonate with the tech-savvy and entrepreneurial residents of Tamil Nadu, enabling them to manage their finances effortlessly and securely.” Unity Bank is a Scheduled Commercial Bank, promoted by Centrum Financial Services Ltd. It has a deposit base of over Rs 9,000 crores, a loan book of over Rs 8,500 crores and a network of approx. 400 Banking Outlets across 20 states & Union Territories in India. For more information about Unity Bank and its services, please visit www.theunitybank.com
