Union Bank FD Rates 2021

Union Bank of India is among the prominent banks of the country. The interest rates offered by Union Bank of India on Fixed Deposits (FDs) ranges between 3.00% p.a. to 5.60% p.a. The highest Union Bank FD rate is 5.60% p.a. for a tenure of more than 5 years and up to 10 years.

Union Bank FD Rates: Deposits less than Rs.2 Crore

Tenure General Public FD interest rate (per annum)
7 days to 14 days 3.00%
15 days to 30 days 3.00%
31 days to 45 days 3.00%
46 days to 90 days 3.75%
91 days to 120 days 4.25%
121 days to 180 days 4.30%
181 days to less than 1 year 4.50%
1 year 5.25%
More than 1 year to 2 years 5.30%
More than 2 years to 3 years 5.50%
More than 3 years to 5 years 5.55%
More than 5 years to 10 years 5.60%

Note: The interest rate mentioned in the table is effective from 10 June 2021.

Union Bank Tax Savings FD Rates

Tenure Rate of Interest
Tenure Rate of Interest
5 years 5.55%
More than 5 years to 10 years 5.60%

Note: The interest rate mentioned in the table is effective from 10 June 2021.

Union Bank of India NRI FD Rates

Union Bank of India NRE FD Rates

Tenure Rate of Interest
1 year 5.25%
More than 1 year to 2 years 5.30%
More than 2 years to 3 years 5.50%
More than 3 years to 5 years 5.55%
More than 5 years to 10 years 5.60%

Note: The interest rate mentioned in the table is effective from 10 June 2021.

Union Bank of India FCNR Rates

Tenure CAD JPY USD AUD EUR
1 year to less than 2 years 0.59 0.01 0.81 0.18 0.01
2 years to less than 3 years 0.75 0.07 0.74 0.27 0.01
3 years to less than 4 years 1.03 0.09 1.00 0.48 0.01
4 years to less than 5 years 1.27 0.10 1.17 0.72 0.01
5 years 1.50 0.11 1.33 0.94 0.08

Features and Benefits of Union Bank FD Rates

The main benefits and features of the FD scheme offered by Union Bank of India are mentioned below:

  • Attractive interest rates are offered.
  • The tenure of the scheme ranges between 7 days and 10 years.
  • Loans can be availed.
  • Premature closure is allowed.
  • TDS will be applicable on the interest that is earned.
  • Nominations can be added.
  • Joint accounts can be opened.

Eligibility Criteria & Documentation Required

The below-mentioned individuals and entities can apply for the FD:

  • Resident individuals
  • Illiterate persons
  • Blind persons
  • Minors
  • Purdanasheen Ladies
  • Associations
  • Clubs
  • Societies
  • Trusts
  • Agencies/ Institutions

Documents Required

  • Passport sized-photographs
  • Proof of address
  • Proof of identity

List of Union Bank Domestic Term Deposit schemes

FAQs on Union Bank FD Rates

  1. What is the maximum tenure of the Short Deposit Receipt scheme?

    The Short Deposit Receipt scheme comes with a maximum tenure of 179 days.

  2. What is the maximum deposit that can be made under the Short Deposit Receipt scheme?

    There is no limit to the amount that can be made under the Short Deposit Receipt scheme.

  3. Will there be any penalties in the case of premature closure?

    Yes, a penalty may be levied in the case of premature closure.

  4. What is the highest interest rate that Union Bank of India offers on its FDs?

    The highest rate of interest that is offered by Union Bank of India is 5.60% p.a. for a tenure that ranges between above 5 years and up to 10 years.

  5. Will senior citizens be provided an additional interest rate?

    Yes, Union Bank of India offers an additional interest rate for senior citizens on its FDs.

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