Unity Bank Freedom Account Overview: More Than Just Savings

The Freedom Account transforms your savings into a steady source of income. With an impressive interest rate of up to 7.5% p.a., your money isn’t just parked—it’s actively working to grow your wealth over time. And that’s not all. With exciting rewards, exclusive services, and a range of banking features, this account turns your finances into a productive asset. Whether you're seeking high returns, enhanced security, or the freedom to manage your account on the go, the Freedom Account offers it all.

Who Is Eligible for the Freedom Account?

The Freedom Account is designed to cater to a broad audience. It is open to:

• Indian residents (of all age groups)

• Existing Unity customers

• Minors under natural or legal guardianship

Key Features & Charges at a Glance

Opening Offers & Account Maintenance

1. Opening Offer: Free till 31st March 2025 (after ₹10,000).

2. Average Monthly Balance (AMB) Requirement: ₹25,000 (Non-maintenance fee: ₹150-₹300/month).

Detailed Transaction Charges

Cash Transactions:

• Home Branch: Free

• Non-home Branch: Free up to ₹50,000/month; beyond that, ₹2.5 per ₹1,000 (min ₹100).

• Combined Deposit Limit: ₹5 lakh/month, beyond which charges are ₹2.5 per ₹1,000 (min ₹100).

Cheque Transactions:

• Collection at Unity location: Free

• Non-Unity location: ₹100 per cheque

• Cheque Returns: Outward ₹200, Inward ₹300

• Additional Chequebooks: 1 free cheque book per quarter; beyond that, ₹100 per booklet.

NEFT/RTGS/IMPS:

• Inward: Free

• Online (Outward): Free

• Branch (Outward): Free up to ₹10 lakh/month, beyond ₹25/transaction

• IMPS: Free up to ₹2.5 lakh/month, beyond ₹25/transaction

Demand Draft/Pay Order:

• Unity location: ₹2.5 per ₹1,000 (min ₹50)

• Non-Unity location: ₹100 per instrument

• DD Cancellation/Duplicate: ₹100

Debit Card Services:

• Issuance: Free

• Replacement: ₹250

• PIN Regeneration: Free

Account Closure:

• Free within T+1 month; ₹500 if closed before 6 months.

Statements:

• E-statement: Free

• Physical Statement: Free once a month, then ₹25 (branch) / ₹50 (courier).

Other Charges:

• Balance Certificate: Free once per quarter; beyond ₹100

• Interest/TDS Certificate: Free once a year; Duplicate ₹100

• ECS Return (Insufficient Funds): ₹300

• Locker Charges: 25% discount

• SMS Alerts: Free

Documents Required to Open a Freedom Account

To get started, you will need to submit the following documents:

• Proof of Identity: Aadhar Card, Driver's License, Voter's ID Card, Passport

• Proof of Address: Ration Card, Driver's License, Aadhar Card, Voter's ID Card, Passport

• PAN Card

• Passport Size Photograph

Interest Rates & FD Rates

Interest Rates on Savings:

• Upto ₹1 lakh: 6% p.a.

• ₹1 lakh to ₹5 lakh: 7.25% p.a.

• Above ₹5 lakh: 7.5% p.a.

Best & Highlighted Benefits Interest Rates and Charges are reiterated for emphasis.

FD (Fixed Deposit) Rates:

• 201 days or 7-month FD: 8.25%

• 1001 days FD (33 months): 9%
  (Senior citizens receive an additional 0.5% benefit)

Additional FD Details:

• Interest Credit Options: Interest can be received monthly, quarterly, or on maturity.

• Minimum FD Amount: Starts from ₹1000.

Key Benefits of the Freedom Account

• Boosted Earnings: Earn up to 7.5% interest p.a., with monthly payouts directly credited to your account.

• Security for Your Valuables: Enjoy a 25% discount on locker services.

• ATM Transactions: Avail 8 free ATM transactions across any network.

• Average Monthly Balance: Maintain a minimum balance of ₹25,000 to avoid non-maintenance fees.

• Free Chequebook: Receive one free chequebook per quarter.

• Bank Anytime, Anywhere: Benefit from comprehensive online banking facilities.

• Personalized Support: Dedicated relationship manager assistance for all your banking needs.

• Swipe Smart, Spend Easy: Complimentary Airport Lounge access with your RuPay Platinum Debit Card.

Exclusive RuPay Platinum Debit Card Offers

Amazon Offer:

• Valid on: Fridays

• Discount: 20% (Max ₹100)

• Minimum Order: ₹129 (Recharge/Bill Payment)

• Payment Method: RuPay Platinum Debit Card

How to Redeem:

1. Visit Amazon.in or open the app.

2. Navigate to Amazon Pay → Recharge/Bill Payment.

3. Choose RuPay Card as the payment method.

4. Complete the payment using your RuPay Platinum Debit Card.

Swiggy Offer:

• Valid: Anytime

• Discount: 20% (Max ₹100)

• Minimum Order: ₹129

• Promo Code: RUPAY100

How to Redeem:

1. Visit Swiggy or open the app.

2. Add items to your cart.

3. Proceed to checkout.

4. Apply the coupon code: RUPAY100.

5. Pay using your RuPay Platinum Debit Card.

Comprehensive Insurance & Additional Perks

• Insurance Cover: Comprehensive personal accident insurance and permanent disability cover up to Rs.2 Lakhs ensure you and your family are safeguarded.

• RuPay Card - Airport Lounge Access:

  • Applicable Cards: RuPay Platinum Debit

  • Eligible Lounges: Select domestic & international airport/railway lounges (List available on the website)

  • Access Process: Swipe your RuPay Card at the lounge POS terminal

  Lounge Access Limits:

  Card Type	Domestic Airport/Railway Lounges	International Airport Lounges
  RuPay Platinum Debit	1 access per quarter	2 accesses per year

• More Merchant Offers: Discover additional offers at RuPay Offers.

Benefits of RuPay Debit Cards

• Cash Withdrawal Limit: ₹50,000 per day from ATMs.

• Contactless Transactions: Up to ₹5,000 without a PIN at POS terminals.

• Accidental Insurance: Coverage up to ₹2 lakh.

• Airport Lounge Access: 1 free domestic lounge visit per quarter and 2 international visits per year. More details at RuPay Lounges.

• Issuance: Free of charge.

Introducing the RuPay Power Debit Card

The RuPay Power Debit Card takes your benefits to the next level:

• Exclusive Features:

  • Access to health check-ups, spa services, gym, and golf programs*

  • Complimentary lounge access*

  • Comprehensive insurance cover up to Rs. 10 lacs*

  • 24/7 concierge services*

*Terms and conditions may apply.

Terms & Conditions (Summary)

1. Interest Rates: Subject to change without notice.

2. Tenor: 7 days to 10 years for deposits ≥ ₹3 crores.

3. Premature Withdrawal: Not allowed, except in specific cases.

4. Non-callable Deposits: Not available for senior citizens.

5. Interest Calculation: Quarterly compounding for deposits ≥ 6 months.

6. Overdraft: Allowed against non-callable deposits.

7. Compliance: KYC & AML compliance is mandatory.

8. Currency: Available only in INR.

9. Auto-renewal: No auto-renewal option.

10. Term Sheet: Signing is mandatory.

11. Exceptions: Premature withdrawal allowed in cases of bankruptcy, court orders, or operational errors (with approval).

12. Penalty on Premature Closure: Interest is 1% below the applicable rate (waiver possible per bank policy).

Conclusion

The Freedom Account from Unity Small Finance Bank is more than just a savings account—it’s a robust financial tool designed to maximize your earnings and offer unparalleled convenience. With competitive interest rates, a suite of rewards, dedicated support, and an array of additional banking services, it’s an excellent choice for anyone looking to make their money work smarter. Coupled with attractive offers on the RuPay Platinum and Power Debit Cards, this account not only ensures high returns but also provides added security and exclusive benefits like free ATM transactions, discounted locker services, and even airport lounge access.

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