Unity Small Finance Bank Online Account Opening

[Raavan]

Was going through the community, I found someone mentioning Wint wealth FD for zero balance account in Unity SFB.

If anyone else opens up account thru this, please share your experience as well. It might help others.

Went to wint wealth site to verify, found it true.


Also if we withdraw the FD within 7 days, we will get our principal back in Unity SFB Saving account.


Few questions -
1. Is there any minimum limit for FD for this zero balance account?
Yes the minimum limit is 1000₹ for FD to be created.
2. If I withdraw the FD within 7 days, will my account be converted to MAB account?
It is a mab account only.. just due to wint wealth promotion it is zero mab for limited time.

I am getting attracted to the 6% interest rate. Also Unity SFB is available on UPI (to receive), recently launched debit card.
Any one has experience of opening this particular account?


UPDATE 1 - Opened wint wealth account and opened Unity SFB Saving account. Then without opening FD, clicked on delete account option on wint wealth app.
Yet to receive welcome kit. Read UPDATE 5.

The account opening was smoothest, all details filled in wint wealth app, then redirected to unitybank website for VKYC, the call was connected within 30 seconds and the girl just asked my basic details like PAN, address and occupation. Clicked PAN image, my photo and signature. All this was done within 6-7 minutes. After around 10 minutes, I received congratulations message and mail from wint wealth that account is opened along with account details.

UPDATE 2 - The account type mentioned in estatement is DIGITAL FINTECH SAVINGS ACCOUNT.

It is essentially the same classic saving account with MAB as mentioned in the attached pdf but opened digitally.

UPDATE 3 - Have a look at attached PDF

UPDATE 4 - Recieved a call from Bank, i asked her about MAB and she informed me that the account variant is different so there might be change in MAB after 30 june.
I am not so confident in their words, but if its true then it will be almost equivalent to IDFC Future FIRST account. The picture will get clearer from 1st July

UPDATE 5 - Regarding welcome kit, the lady told me that they don't send any welcome kit, we need to apply for debit card and cheque book from WhatsApp. More information is in post 46 of this thread.

UPDATE 6 - UPI pin setup thru debit card enabled on the bank. Now only internet banking is pending.

UPDATE 7 - Unity Small Finance Bank Internet Banking Is Live Now on 04/04/2025 finally.
Visit https://netbanking.unitybank.co.in/retail/login to register. 🙂
UPDATE 8 - Access to Mobile app now available. See screenshots below:

 

[Arnal07]

For now because all charges are waived for few months? How much will be mab after free period?

We will have to wait.. for now it is 9% interest rate on 1001days fd.

 

[ritwik2000]

yes, 0 mab for now, and fd is made via mobile banking app.

what is the variant showing in app ?

 

[dvader]

Update: Confirmed with stable money on-call support, savings account is no longer opened with FD. Wint money is also a no go.

 

[desiviru]

Unity Bank Internet Banking Option Live now on website but links are inacessible.

Visit https://theunitybank.com and Login Option on right side.

Link https://uat-netbanking.unitybank.co.in/retail/login (Not working currently)

But Netbanking is on the way which is relief for customers as it was the only SFB bank without Netbanking facility.

Edit: The link has been removed from website. Should have taken screenshot. 🤣 Seems like it was for testing purpose but atleast got the url for Unity netbanking in future.

 

[xfactcc]

Opened account after reading the hype here.

Preferred offline home visit, booked by calling 1800... number. Chosen branch staff called and insisted on IP cheque to proceed or asked me to open online.

Ultimately dropped a mail to their CS, asking why IP cheque is mandatory and someone here opened account without... and later did NEFT.

Manager called next day and agreed to open without ip cheque, same staff came and opened, added Sr.C. mother as first holder, for 5000 mab Pearl ac and highest 9.25% interest rate on fd. Upi'd the 5k fund.

Though unity app refuses to open on my pixel 6a. 🤣

 

[desiviru]

Opened account after reading the hype here.

Preferred offline home visit, booked by calling 1800... number. Chosen branch staff called and insisted on IP cheque to proceed or asked me to open online.

Ultimately dropped a mail to their CS, asking why IP cheque is mandatory and someone here opened account without... and later did NEFT.

Manager called next day and agreed to open without ip cheque, same staff came and opened, added Sr.C. mother as first holder, for 5000 mab Pearl ac and highest 9.25% interest rate on fd. Upi'd the 5k fund.

Though unity app refuses to open on my pixel 6a. 🤣

There is no problem giving them cheque too which helps verification of account opening party signatures. RBI rules says that initial funding of account is mandatorily from first account holder. When I opened for my parents, provided cheque and it was cleared next day itself. I don't know why people refrain themselves from cheque? In past cheque was madatory.

Why branch asks for cheque? Initial funding made through online modes to account doesn't count for their incentives and that's why they ask for cheques. Also cheque gives them guarantee of funds coming as sometimes people promise good IP but then transfer min. AMB to accont.

Also maximum FD interest rate is 9.5% in 1001 Days FD.

Trust me, most of the Unity branches I visted look after customer with extra efforts.

Online account aren't opening since November with them due to SBI directions. Currently all SFB banks aren't providing online opening of account and also apps like Stable Money, Wint are restricted by RBI. They were making mockery of rules established. Big banks are also brought down with HDFC not working since last month and SBI having issues.

Until they reframe their vKYC account and comply with RBI rules they aren't coming back. So branch visit is must now. Also many people are doing illegal activities especially Bangladeshis coming here, getting aadhaar and opening account so this has to come. We are most unfortunate people because every good thing has to stop due to a special community people who have nothing of their own and keep coming to India and spread flith here. Atleast Indians that go outside legally accept the system and live accordingly but these M community are sick people illegally migrating through bengal, Assam and killing our future.

 

[Raavan]

Unity Small Finance Bank Internet Banking Is Live Now on 04/04/2025 finally.

Visit https://netbanking.unitybank.co.in/retail/login to register. 🙂

Credit: @desiviru

 

[desiviru]

Unity Small Finance Bank Internet Banking Is Live Now on 04/04/2025 finally.

Visit https://netbanking.unitybank.co.in/retail/login to register. 🙂

Credit: @desiviru

Also registration with Cust ID + Mobile Number isn't sending OTP. If you don't get it try with Full Account Number and Mobile Number, it will come instantly.

All you need is to create a user ID and password and verify with OTP. Done. Now login with Internet Banking. 🙂

Website still lacks many options. Only basic one there.

Beneficiary List of Mobile banking App not available here. So add again in IB.

All in all atleast they have provided the much needed thing. They will keep updating and adding fetaures and by April end we will see a full fledged Menu.

 

[Raavan]

Also registration with Cust ID + Mobile Number isn't sending OTP.

I just did 3 mins ago. Customer id registration worked perfectly fine.

Website still lacks many options. Only basic one there.

Only transfer funds is available. IMPS is disabled for me, don't know why. Beneficiary, transfer funds, estatement, account basic details. Only these available.

They will keep updating and adding fetaures and by April end we will see a full fledged Menu.

Yaa atleast they add interest certificate option before tax filing season.

 

[desiviru]

I just did 3 mins ago. Customer id registration worked perfectly fine.

Only transfer funds is available. IMPS is disabled for me, don't know why. Beneficiary, transfer funds, estatement, account basic details. Only these available.

Yaa atleast they add interest certificate option before tax filing season.

1. For me Cust ID registration didn't sent OTP after 2 tries. So I tried with Account number. lol

2. IMPS disabled for everyone.

3. Why wait for Intt certificate? Download statement and check interest credit and total that. For FD, you can check in App in Account details option below Profile. By default savings account is there, choose your FD account and it will show ledger balance which will give you idea how much till March 31st they credited.

 

[Raavan]

Why wait for Intt certificate? Download statement and check interest credit and total that.

This one is fine for me because i have 1 transaction per month with this account. But for someone who is using this as primary account (WHY?) for them it would be cumbersome to look for each value the total it.
Bcz I can't do this with PNB or ICICI Bank where i have more than 500+ txns in a year.

 

[desiviru]

This one is fine for me because i have 1 transaction per month with this account. But for someone who is using this as primary account (WHY?) for them it would be cumbersome to look for each value the total it.
Bcz I can't do this with PNB or ICICI Bank where i have more than 500+ txns in a year.

You are right but as I said, they will take their time and will add-up everything like other banks. Being a small bank they can't spend much money on testing. So they always make available undercooked things and test with user experience in real world. Somehow management is highly emphasizing on cost cutting.

Besides this Unity sends monthly interest credit alert every month on email. You just need to search correct keyword and there you go all 12 mails with interest amt written without opening emails.

But for FD interest you need to check App. 🙂

 

[xfactcc]

A staff sent me this. 👇

So the 0 mab seems to be gone after 31st March, she also said the same and sent this doc.

Though as per circular wordings are vague, she said all other charges including DC are free. Mine is Pearl account (senior citizen women's)

Leaving it here for y'all.

 

[avins]

Unity bank free look period ended how can i deactivate sms alert charges?

 

[desiviru]

Update: Contacted my branch manager and he said free look period is extended till June 30th, 2025. They have got the internal note now.

Enjoy!!!

 

[Strange]

free look period

What is this?
Can we open this account online?
What is required MAB?

 

[Raavan]

Update: Contacted my branch manager and he said free look period is extended till June 30th, 2025. They have got the internal note now.

Enjoy!!!

Told you bro

All service charges waived till June 2025.
No DC charges, no cheque book charges, not even ECS bounce charges

Mai hoon Antaryami

June 30th 2025 is not an official statement by Unity bank

Now it is.

I know that. I just have internal information about the date.
This is subject to approval.