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    Union Bank Fixed Deposit Rates

    Institution Name
    Deposit Amount Range
    Tenure Range
    Interest Rate
    Up to ₹1Cr
    7 Days to 10 Years
    5% - 7.9% Compound yearly
    Response Time Within 30 minutes
    Good to Know
    NRI - FD
    Up to ₹1Cr
    1 Year to 10 Years
    7.25% - 7.65% Compound yearly
    Response Time Within 30 minutes
    Good to Know

    Union Bank Fixed Deposit Rates is Rated as "Excellent!" by 25 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service



    How to find the best rates for Union Bank of India Fixed Deposit

    Union Bank is a public-sector banking institution providing retail banking solutions to its customers. Fixed deposits form a part of its retail product suite. These schemes come at attractive interest rates and varying holding periods to suit the savings and investment needs of its customers.

    The above table is an accurate representation of the interest rates on Union Banks fixed deposit schemes. These rates are constantly monitored and modified to reflect updates made by the bank.

    Union Bank Short-Term FD Rates

    The shortest period of holding on offer is 30 days and features a 5.50% rate of return. Their 60 and 90 days deposit schemes provide 1.00% higher returns at 6.50%. This is followed by the rate on the 120-day scheme, which stands at 6.75%. The banks short-term schemes are rounded off at 7.25% for holdings of 6 and 9 months.

    Union Bank Medium and Long-Term FD Rates

    The interest rate remains constant at 7.55% for holdings between 2 and 3 years, while the rate is 7.50% for deposits that mature in 1 year. These are the highest rates offered by Union Bank on its fixed deposits. Further up, 4 and 5 year maturities account for 7.50%, while tenures above 5 years to 10 years fetch a reasonable 7.25%.

    Union Bank Senior Citizens FD Rates

    Senior citizen customers at Union Bank are offered a considerable increase in returns on their savings with a 0.5% hike on the existing medium and long-term FD rates. This brings returns to 8.00% on holdings that mature in 1 year, while those 2 and 3 years account for 8.05%. The next tenure slab of 4-5 years is marked at 8.00%, while all tenures above 5 years amount to 7.75%.

    The rates mentioned above are compounded on a bi-annual basis. With longer deposit terms on offer, account holders stand to earn higher returns on a long-term basis.

    News About Union Bank of India Fixed Deposit

    • Fixed Deposit Rates of Union Bank of India

      The rates for term deposits across banks in India have seen deductions post the repo rate cut by the Reserve Bank of India. While loans have also seen a sizable reduction, reductions in fixed deposit rates are not much of a good news. Union Bank of India has changed its rates on fixed deposit for only a few of its deposit tenures for amounts below INR 1 crore and INR 1 crore to INR 10 crore.

      The revised interest rates for Union Bank of India’s fixed deposits are effective from December 14, 2015. This interest rate applicable for deposit tenures of 15 to 30 days for deposits of I NR 1 crore and INR 1 crore to INR 10 crore are 4.75% and 4.50% respectively. Deposits having 31 to 45 days as tenure are charged at 5.25% and 5% for INR 1 crore and INR 1 crore to INR 10 crore, respectively.

      The rates of interest for 121 to 179 days; 181 days to less than one year; 1 year; 1 to less than 3 years and 9 months 17 days to less than 1 year for deposits less than Rs 1 crore and Rs 1 crore to Rs 5 crore are 7.50% (regular deposit) and 8% (senior citizens deposit) respectively. For the tenures 1 year 1 day - 1 year 3 days; 1 year 4 days; 1 year 5 days - 1 year 15 days; and 2 years 17 days - 3 years, the rates of interest are 7.65% (regular deposit) and 8.15% (senior citizens deposit) for the less than Rs 1 crore deposit.

      In case of the term deposit Rs 1 crore till Rs 5 crore, the interest rates remain the same for tenures 1 year 1 day - 1 year 3 days; 1 year 4 days; 1 year 5 days - 1 year 15 days; and 2 years 17 days - 3 years, at 7.50% (regular deposit) and 8% (senior citizens deposit).

      16th Dec 2015

    • Deposit Rate cut down by Union Bank of India

      Union Bank of India, has reduced its base rate from 10.25% to 10.00%, a cut of 25 basis point. This move by Union Bank indicates that a few other banks may follow suit and reduce their deposit rates too.

      Reserve Bank of India recently has cut the short term policy rate, Repo Rate, from 8% to 7.75%, a slide of 25 basis points. The slash by RBI signals a positive strengthening of the Indian economy.

      This move by the apex bank of India is likely to prompt the rating agencies to improve the rating of Indian economy thereby fuelling more FII flows into the Indian market, resulting in a stronger Indian currency. The cut in Repo Rate by RBI has sent the capital markets towards an upward trend.

      This sudden rate cut can be seen as a signal towards a rate lowering cycle. This move according to experts, also shows that the RBI is now confident with longer term trends on the fiscal front which can in turn lead to taming the inflation dragon.

      19th Jan 2015


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