Unity Bank: FD, Savings & UPI 5.0.1

The Unity Bank mobile application offers a streamlined platform for digital banking services, including savings account management, fixed deposits, secure UPI payments, and various transaction features. Designed for user convenience, the app facilitates a fully digital onboarding process, enabling users to access banking services efficiently from their smartphones.

Key features evaluated include:

• Digital Account Opening: The app allows new customers to open savings accounts within minutes using Video KYC, eliminating the need for physical paperwork. Users can view mini-statements and detailed account histories, and perform secure transactions via NEFT, RTGS, and IMPS.
• Fixed and Recurring Deposits: The platform provides options for growth through Fixed Deposits and Recurring Deposits with attractive interest rates, flexible tenures, and tools such as calculators for better planning. Premature withdrawal options are also available.
• UPI Payments: Integrated UPI functionalities permit users to perform payments via UPI ID, QR code scanning, or by transferring to an account with IFSC codes. Features include instant money transfers, setting up autopay mandates, custom UPI IDs, dynamic/static QR codes, dispute management, and spam reporting.
• Money Transfers: The app supports quick and secure fund transfers across IMPS, NEFT, and RTGS networks. It does not require prior registration of payees for transactions, consolidating banking activities within a single platform.
• Payee Management and Cheque Book Requests: Users can add or delete payees as needed and request cheque books digitally in just a few taps without visiting a branch.
• Account Management: Profile control functions include adding nominees, viewing real-time balances, and requesting account statements directly through the app.
• Security Measures: Multiple authentication options (passwords, biometrics, PIN) and end-to-end encryption are implemented to safeguard user data. The bank commits to not sharing personal data with third parties.

The application aims to facilitate a comprehensive digital banking experience—rapid account opening via Video KYC, flexible deposit options, seamless UPI transactions, and robust security protocols—making it suitable for users seeking reliable, fully digital banking solutions.

Required documentation for registration includes an Aadhaar card (with number), PAN card (original), and a signature uploaded during KYC verification. The login options encompass password access, biometric authentication, or a simple PIN. Permissions requested include location access (for service optimization), camera usage (for uploads), phone access (for support), and SMS verification.

User data protection is prioritized through advanced encryption standards and industry best practices to ensure confidentiality and security throughout banking activities.

The app is recommended for those seeking an efficient and secure digital banking platform capable of handling savings accounts, deposits, and instant payments without physical branch visits. For assistance or inquiries, users can contact customer support via email at [email protected] or call 1800 209 1122.

The bank’s address is: Unity Small Finance Bank Limited, 13th Floor, 1302/B Wing, Rupa Renaissance, D-33 MIDC Rd, TTC Industrial Area, Turbhe, Navi-Mumbai, Maharashtra – 400705.