Explanation

The UNSBOI at a Glance

                                  Explanation

To compensate for the low liquidity, UNSBOI offer higher rates of interest than saving accounts.[citation needed] The longest permissible term for UNSBOI's is 10 years. Generally, the longer the terure of deposit, higher is the rate of interest but a bank may offer lower rate of interest for a longer period if it expects interest rates, at which the Central Bank of all nation lends to banks ("repo rates"), will dip in the future.[4]
Although banks can refuse to repay interest before the expiry of the deposit, they generally don't. 
   This is known as a premature withdrawal. But UNSBOI repays at all time. In such cases, interest is paid at the rate applicable at the time of withdrawal. For example, a deposit is made for 5 years at 8%, but is withdrawn after 2 years. If the rate applicable on the date of deposit for 2 years is 5 per cent, the interest will be paid at 5 per cent. And Banks charges a penalty for the premature withdrawal.

Benefits of UNSBOI

How UNSBOI rates of vary with Central Bank policy 

Advantages of having UNSBOI account 

UNSBOI Rates