News: Fixed Deposits (FDs) are a popular investment option for individuals seeking safety and steady returns. Union Bank of India offers a range of FDs with competitive interest rates. Let’s dive into the details!
Interest Rates for Different Tenures
1. Short-Term FDs (7 to 90 Days):
For deposits up to Rs. 2 Crores:
- 7-14 Days: 3.50%
- 15-30 Days: 3.50%
- 31-45 Days: 3.50%
- 46-90 Days: 4.50%
Medium-Term FDs (91 Days to 1 Year):
- 91-120 Days: 4.80%
- 121-180 Days: 4.90%
- 181 Days to < 1 Year: 5.75%
Long-Term FDs (1 Year and Beyond):
- 1 year: 6.75%
- 1 year to 398 Days: 6.75%
- 399 Days: 7.25%
- 400 Days to 2 years: 6.50%
- 2 years to less than 3 Years: 6.50%
- 3 years: 6.50%
- 3 Years to 5 years: 6.50%
- 5 Years to 10 Years: 6.50%
Special Rates for Senior Citizens
Union Bank provides additional interest to senior citizens:
- Resident senior citizens: 0.50% above the regular rates.
- Resident super senior citizens: 0.75% above the regular rates (0.25% more than senior citizens).
- Applicable for term deposits up to Rs. 5.00 Crores.
Interest Calculation and Crediting
1. Interest is calculated daily and credited quarterly (in April, July, October, and January).
2. The bank also offers attractive rates for Tax Saving FDs.
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Savings Account Interest Rates
Union Bank’s savings account interest rates:
- Up to Rs. 50 Lakh: 2.75%
- Rs. 50 Lakh to Rs. 100 Crore: 2.90%
- Rs. 100 Crore to Rs. 500 Crore: 3.10%
- Rs. 500 Crore to Rs. 1000 Crore: 3.40%
- Above Rs. 1000 Crore: 4.00%
Union Bank of India’s FDs offer stability, competitive rates, and flexibility. Whether you’re saving for the short term or planning for the long haul, explore their FD options and make your money work for you!
FAQs
How much interest does Union Bank of India offer for fixed deposits under Rs. 2 Crore?
Union Bank of India provides varying interest rates for fixed deposits below Rs. 2 Crore, depending on the deposit duration.
Are NRIs allowed to invest in Union Bank of India fixed deposits?
Yes, NRIs have the opportunity to invest in Union Bank of India fixed deposits. The bank provides attractive interest rates for NRIs with various deposit terms.
What features does Union Bank of India FD scheme offer?
Union Bank of India’s FD scheme includes competitive interest rates, flexible deposit periods, loan facilities, premature closure options, and nomination arrangements.
Disclaimer: Please note that all content and tools on this website are provided for your convenience and are offered “as is” without warranties. The information provided, including any tool-generated output, is for informational purposes only and should not be considered investment advice or guarantees. Exercise caution, seek professional advice, and make independent judgments before acting on any information found on this site.
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