• Overview of City Union Bank Fixed Deposit

    City Union Bank offers several cumulative and Fixed Deposit (FD) schemes at attractive interest rates. The tenure of the FD scheme ranges between 7 days and 10 years. The process to open the FD account is simple and can be completed online.
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    City Union Bank is one of the oldest banks in the country, having over a century of banking experience. The bank was initially known as “The Kumbakonam Bank Limited” and was established in the year 1904 by prominent citizens of Kumbakonam. Starting as a regional bank, the bank grew steadily over time and has its presence across the country today, with 485 branches in different states of India.

    City Union Bank strives to make banking a simple and hassle free task to its customers, adhering to strict standards of ethics and business to make banking an enriching experience. The bank is known for its transparency and integrity, a testament to its century long presence in the lives of its customers. It offers multiple banking products to its customers, with attractive rates, abiding by the rules framed by the Reserve Bank of India.

    City Union Bank Fixed Deposits

    City Union Bank offers fixed deposits to suit different needs of a customer, providing fixed deposit for a particular period of time. Money deposited into City Union Bank fixed deposits earn simple interest which is payable flexibly, ensuring that every customer finds something to suits their requirements. The interest rate on these FDs is payable either on a monthly, quarterly, half-yearly or annual basis, depending on what a customer requires.

    City Union Bank offers fixed deposits for NRIs and resident Indians alike, with NRE Fixed Deposit, NRO Fixed Deposit and Regular Fixed Deposit to choose from. A NRE or NRO Fixed Deposit can be opened as either a cumulative or non-cumulative account, offering a high degree of flexibility to customers.

    Features of the City Union Bank Fixed Deposit

    The main features of the FD scheme offered by City Union Bank are mentioned below:

    • The minimum amount required to open an account is Rs.100.
    • Bulk deposits can be made.
    • The simple interest that is generated may be paid on a monthly, quarterly, half-yearly, or yearly basis.
    • An additional interest is provided to senior citizens.
    • Loans can be availed against the FD account.
    • You can open the FD account online.
    • The tenure of the scheme ranges between 7 days and 10 years.
    • Auto-renewal is allowed.
    • Pre-closure is allowed.
    • TDS is deducted at the current income tax rate.

    City Union Bank Eligibility

    The eligibility criteria to open different fixed deposits with City Union Bank depend on the kind of fixed deposit one intends to open. These criteria are mentioned below for different FDs.

    • NRE Fixed Deposit – A NRE FD can be opened jointly with a NRI or a resident relative. One can opt for a survivor or former mode while opening such an account with City Union Bank. This FD can be opened either as a cumulative or non-cumulative deposit, as per a customer’s preference.
    • NRO Fixed Deposit – A NRO FD can be jointly opened by a Non-resident Indian or a resident, with an option between cumulative and non-cumulative deposit.
    • Regular Fixed Deposit – A fixed deposit at City Union Bank can be opened by individuals in their own names or two or more people in their joint names on either/jointly/former/survivor basis. A Fixed Deposit can also be opened by sole proprietorship concerns, private and public limited companies/organizations, partnership firms, clubs, associations, undivided Hindu families, etc.

    Documents Required for City Union Bank FD

    The list of documents that must be submitted in order to open an FD account is mentioned below:

    Address Proof

    The below-mentioned documents can be submitted as proof of address:

    • Passport.
    • Driving License.
    • Bank account statement.
    • Latest electricity bill.
    • A letter provided by the employer.
    • A job card that has been issued by NREGA. The job card must also be signed by a State Government officer.
    • The Consumer Passbook has been provided by a Gas Agency.
    • Voter’s ID.
    • Telephone bill (The telephone must have been installed for at least 6 months and the bill should not be more than two months old).
    • A letter that has been provided from a recognised public servant or private authority. The letter should verify the residence and identity of the consumer.
    • Ration Card.
    • An ID that has been provided by Postal Authorities.
    • A letter provided by the Unique Identification Authority of India. The letter must contain the address, name, and Aadhaar number of the consumer.
    • Rental Agreement.

    Identity Proof

    The below-mentioned documents may be submitted as proof of identity:

    • Passport.
    • Voter ID.
    • Identity Card.
    • An ID that has been provided by Postal Authorities.
    • A job card that has been issued by NREGA. The job card must also be signed by a State Government officer.
    • PAN Card.
    • Driving License.
    • An ID that has been issued by a recognised Educational Institute.
    • A letter that has been provided from a recognised public servant or private authority. The letter should verify the residence and identity of the consumer.
    • A letter provided by the Unique Identification Authority of India. The letter must contain the address, name, and Aadhaar number of the consumer.

    City Union Bank FD Rate of Interest

    The interest rate that is provided by City Union Bank for deposits less than Rs.2 crore is mentioned below:

    Tenure bracket Regular FD rates (per annum) Senior Citizens FD rates (per annum)
    7 days to 14 days 3.00% 3.00%
    15 days to 45 days 3.25% 3.25%
    46 days to 90 days 3.50% 3.50%
    91 days to 180 days 3.75% 3.75%
    181 days to 270 days 4.00% 4.00%
    271 days to 364 days 5.00% 5.00%
    1 year 5.50% 6.00%
    More than 1 year and up to 3 years 5.75% 6.25%
    More than 3 years and up to 5 years 5.50% 6.00%
    More than 5 years and up to 10 years 5.25% 5.25%

    The given rates are applicable as of 8 June 2020.

    City Union Bank FD Terms of Deposit

    City Union Bank offers fixed deposits with varying terms, enabling customers to choose a term which best suits their needs. The minimum term for a regular fixed deposit is 15 days with the maximum term set as 10 years. This maximum term, can, however be extended by the bank in certain cases which have a valid reason for extending this term, like interest of minors being in question or under the orders of a competent court authority. City Union Bank can extend the period of deposit to a maximum of 20 years in case of corporate bodies and governments, provided they have a valid reason for such an extension.

    The term of a NRE FD varies from a minimum of 1 year to a maximum of 10 years.

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    City Union Bank FD Reviews

    • review Fixed Deposit
      "Overall good"
      0.5 5.0/5 "Blown Away!"
      I hold a fixed deposit account with City Union Bank. The rate of interest is of 7.25% on my savings. The customer support is good and they are responsive as well. It was easy to open this account and I can do it online. There are no hassles in the overall service.
      Was this review helpful? 2
      , chennai
      Reviewed on Apr 05, 2019
    • review
      review Fixed Deposit
      "Not too good on the rate"
      0.5 2.5/5 "Just OK"
      I have a fixed deposit with City union bank and the interest that they have for it is not a reasonable rate and i feel that they should be providing a better rate for it. The service was however good at the time of the account being open and the response received was good.
      Was this review helpful? 1
      , chennai
      Reviewed on Nov 11, 2017
    • review Fixed Deposit
      "Awesome"
      0.5 4.0/5 "Great!"
      I am having the fixed deposit account with the City union bank for the rate of interest as 10.25% and I got this interest rate because I am an employee with them. Overall experience is good with them and the interest rate will be compounded based on the schemes. Rate of interest is fixed with the deposits.
      Was this review helpful? 6
      , chennai
      Reviewed on Jan 20, 2016
    • review Fixed Deposit
      "NICE"
      0.5 4.0/5 "Great!"
      City union bank is giving 8% interest rate for the fixed deposit with the minimum lock in period of one year. I visited the bank to start the plan.The minim amount start is rs.1000 maximum up to 10 lakhs. We will lose the interest in case if we break it within the period.
      Was this review helpful? 6
      , chennai
      Reviewed on Jan 18, 2016
    • review Fixed Deposit
      "High rate for FD..."
      0.5 4.0/5 "Great!"
      Major reason to opt City Union Bank for fixed deposit is high rate of interest and I can use it for locker facility. We can open online deposit and and cancel the deposit on the portal. Interest rate was around 9.5% to 10% but now its been dropped.
      Was this review helpful? 6
      , chennai
      Reviewed on Dec 31, 2015
    • review Fixed Deposit
      "Good FD"
      0.5 4.0/5 "Great!"
      CUB FD is fine. It is also good. I am holding this FD for 8 years. Actually my salary account is with the same bank therefore I have opened FD with them. I am holding this FD for a period of 8 years. This FD was opened at the branch after submitting certain documents.
      Was this review helpful? 2
      , coimbatore
      Reviewed on Dec 08, 2015
    • review Fixed Deposit
      "Excellent facility"
      0.5 5.0/5 "Blown Away!"
      CITI union Bank interset rate is 7.75% they have given a special interest for FD for their staff for 45 days. Customer service offered by them was good. they did not ask for specific documents as they already have my existing proof and KYC with them and there is no additional documents required,
      Was this review helpful? 2
      , kumbakonam
      Reviewed on Oct 23, 2015
    • review Fixed Deposit
      "Good services"
      0.5 5.0/5 "Blown Away!"
      I opened a fixed deposit with Citi union bank. The services was good. The process just took ten minutes. The rate of interest offered was of 10.25%. There is no charges for this account. The response is good from the bank as well.
      Was this review helpful? 2
      , new delhi
      Reviewed on Sep 12, 2015
    • review Fixed Deposit
      "Really good "
      0.5 5.0/5 "Blown Away!"
      CITY Union bank FD is really good. They are user friendly and there is no need for me to visit the branch. This deposit was opened over the phone. Internet banking is good the interest rate offered by them was 8.75% which is satisfactory . I have opted for auto renewal. I am entitled to get 80% of the amount as loan.
      Was this review helpful? 4
      , chennai
      Reviewed on Jun 18, 2015
    • review Fixed Deposit
      "GOOD SERVICE- REASONABLE INTERTEST"
      0.5 5.0/5 "Blown Away!"
      I HAVE DEPOSITS IN CUB THONDAMUTHUR BANK CBE AND CUB VEPPAMPET BR; CHENNAI- THE INTEREST IS BEING CREDITED PROMPTLY AND I GET SMS ALERT VERY ACCURATELY-THE STAFF ARE VERY HELPFUL AND COOPERATIVE-THE LOCATION AND AMBIENCE OF THE BANK IS GOOD
      Was this review helpful? 8
      , coimbatore
      Reviewed on Mar 06, 2015
    • review Fixed Deposit
      "Customer experience"
      0.5 5.0/5 "Blown Away!"
      I am holding a fixed deposit with City Union Bank. The rate of interest offered by them was 14% approximately. Its near to my place so I have chosen this Bank. They offer value added services like RD, FD however they are not offering any personal loan. The documentation process was very simple and it provides tax benefit as well.
      Was this review helpful? 21
      , secunderabad
      Reviewed on Feb 25, 2015
    • review Fixed Deposit
      "Overall satisfied"
      0.5 4.5/5 "Excellent!"
      Once in a year or twice, I do the deposit with Citi Union bank. Its a short term fixed deposit I did open as the services would be excellent. Compared with nationalized banks, the interest rate is half yearly compounding rate and its best.
      Was this review helpful? 4
      , kumbakonam
      Reviewed on Jan 06, 2015
    • review Fixed Deposit
      "Homely banking"
      0.5 5.0/5 "Blown Away!"
      The banking relationship with Citi union bank in terms of fixed deposit is Fantastic. They provide friendly and homely banking services. They treat the customers in a very kind and polite manner. Interest rate is 9.25% which is a good one and their on line banking is best for doing easier transactions. I would say this bank is fulfilling my expectations.
      Was this review helpful? 1
    • review Fixed Deposit
      "Best Service"
      0.5 4.0/5 "Great!"
      City Union Bank Fixed, I am holding from past 6 years, it was quite easy for opening the account, i got fixed deposit received soft copy immediate, best advantage is interest rate is good but i will get extra 1% high on interest rate, only thing is on line banking is not user friendly.
      Was this review helpful? 0
      , tirupati
      Reviewed on Jul 12, 2014
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